Would this Lead to the Mass Adoption of Bitcoin?

[Davidvictorson]

Lately Twitter has been filled with the news of Elon Musk's proposal for Twitter folks to pay $8/month for the blue checkmark. And there have been supporting and dissenting voice here and there. One of the comments that caught my attention is that of this user, Jack Mallers. He tweeted "Lightning (instant + near-free #bitcoin payments) should be an accepted payment method. Would allow for global, inclusive, private payments (important for pseudonymous users) that are cash-final (no chargebacks)." I read this, and the first thought that came to mind was, if Elon Musk consents to this we might likely see the bitcoin's mass adoption. Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?

Image source: https://twitter.com/jackmallers/status/1587787339237130240

[indah rezqi]

Mass adoption should be because the government agreed to use bitcoin as a legal tender. But if twitter accepts bitcoin payments because of Elon Musk, then it's not the mass adoption I was hoping for. Some other platforms also accept bitcoin as a currency or means of payment, previously I thought it would increase the use case of bitcoin as a currency.

Bitcoin is just an option for people if Elon Musk actually accepts the proposal on his platform. So there are certainly positives about bitcoin if Elon really wants to do it, but I don't expect it to be his second joke soon after Tesla.

[DdmrDdmr]

Being to pay for a single service such as this one seems with BTC over LN seems far from the killer user case to push or drive mass adoption. You probably don't just need one new big user case, but rather more a large cascade of them.

Disregarding the controversy of the payment proposal itself, bear in mind that, as of 2021, there were roughly 400K verified accounts on Twitter, which is the target of this recurrent payment. That is less that 1% of all Twitter accounts, and those willing to pay with BTC and or LN are bound to be a dip in the ocean in the big picture. Not to mention that is should be a recurrent payment, which should likely be automated in some way to be effective.

[Zaguru12]

Elon Musk using btc as accepted payment? I think he would rather prefer Doge 

Definitely I don't see it having any impact on bitcoin adoption. Only government policies can actually influence it. Moreover I think most people on twitter are already into bitcoin or cryptocurrency, so the high percentage of people that don't use bitcoin are outside social media. So any mass adoption of bitcoin will be an initiative that brings those outside social media along, which I think will be its legality been approved by government

[Sanitough]

Mass adoption should be because the government agreed to use bitcoin as a legal tender. But if twitter accepts bitcoin payments because of Elon Musk, then it's not the mass adoption I was hoping for. Some other platforms also accept bitcoin as a currency or means of payment, previously I thought it would increase the use case of bitcoin as a currency.

Bitcoin is just an option for people if Elon Musk actually accepts the proposal on his platform. So there are certainly positives about bitcoin if Elon really wants to do it, but I don't expect it to be his second joke soon after Tesla.

Elon Musk never fail to influence other people but even if twitter will start accepting bitcoin, only tweeter will benefit from it and not the whole world. So it’s still not mass adoption to be certain. But it will pave way for a good understanding about bitcoin and eventually people will realize how valuable it is, that they will be eager to start accumulating bitcoin and use it for investments and for currency purposes too. Also, when twitter adopted bitcoin, then it won’t be long other sectors too will follow it and accept bitcoin payment maybe months or year from now.

[rby]

When we talk about mass adoption of Bitcoin I want you to know what mass adoption means. Mass adoption does not mean that little number of people will start using Bitcoin.
There is only small amount of number of people using Twitter that does not use bitcoin, so Twitter incorporating bitcoin for payment will not mean mass adoption.
mass adoption of Bitcoin will only happen when government of different countries come in and make it necessary and legitimate for their citizens to start using Bitcoin.
Apart from that there is no how mass adoption of Bitcoin will happen.

[uneng]

The impact on bitcoin price wouldn't be expressive, because the blue seal membership offered by twitter isn't acquried by a lot of users of the platform. And the ones who are going to pay for it must do it through fiat, even if bitcoin was a possible payment alternative. Actually, this feature by twitter doesn't have potential to impact bitcoin price in anyways.

On the other hand, to send tips inside the platform through bitcoin could be a more effective feature to boost bitcoin price, because it could be used by a different range of companies, groups and sectors to promote their products, brands and ideas, while paying employees inside the platform itself, without further bureaucracy and difficulties. Even for bounty campaigns it would be a good adoption.

[Russlenat]

Lately Twitter has been filled with the news of Elon Musk's proposal for Twitter folks to pay $8/month for the blue checkmark. And there have been supporting and dissenting voice here and there. One of the comments that caught my attention is that of this user, Jack Mallers. He tweeted "Lightning (instant + near-free #bitcoin payments) should be an accepted payment method. Would allow for global, inclusive, private payments (important for pseudonymous users) that are cash-final (no chargebacks)." I read this, and the first thought that came to mind was, if Elon Musk consents to this we might likely see the bitcoin's mass adoption. Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?

Image source: https://twitter.com/jackmallers/status/1587787339237130240

Well, this could be a great start for bitcoin to be accepted as a currency from a big company, but we can never expect instant mass adoption from this. It will still be a long and hard process before we finally make it happen. But I’m happy if this one will eventually happen, because I know in the long run, Twitter will also influence  other big companies to trust bitcoin as a payment system.

[lionheart78]

if Elon Musk consents to this we might likely see the bitcoin's mass adoption. Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?

I think it helps but adoption won't rely on that entirely.  All i can see is Bitcoin exposure and as far as I know user's have several non-crypto payment option so I think most users will just pay with whatever they had linked on twitter.  Government has a huge part in crypto mass adoption because the government has the authority to accept or reject Bitcoin in its jurisdiction.

On the other hand, to send tips inside the platform through bitcoin could be a more effective feature to boost bitcoin price, because it could be used by a different range of companies, groups and sectors to promote their products, brands and ideas, while paying employees inside the platform itself, without further bureaucracy and difficulties. Even for bounty campaigns it would be a good adoption.

I think Bitcoin as tip option in twitter will be a great help to have users a firsthand experience with Bitcoin transaction.  It is a very helpful option for Bitcoin exposure, remember not because someone received a Bitcoin, he will automatically adopt it.  Others just accept and sell Bitcoin and forget.  Also we all know tips isn't a huge amount, so I think the effect of it to Bitcoin price is marginal.

[Finestream]

Lately Twitter has been filled with the news of Elon Musk's proposal for Twitter folks to pay $8/month for the blue checkmark. And there have been supporting and dissenting voice here and there. One of the comments that caught my attention is that of this user, Jack Mallers. He tweeted "Lightning (instant + near-free #bitcoin payments) should be an accepted payment method. Would allow for global, inclusive, private payments (important for pseudonymous users) that are cash-final (no chargebacks)." I read this, and the first thought that came to mind was, if Elon Musk consents to this we might likely see the bitcoin's mass adoption. Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?

Image source: https://twitter.com/jackmallers/status/1587787339237130240

I believe it’s a good start if we consider bitcoin’s mass adoption in the future. Of course we should start one step at a time and maybe this news about Twitter is a great start. Once it succeeds, bitcoin won’t stop there and just wait until other big companies start to notice the potentials of bitcoin. So in one way or another, Elon Musk will also be a great influence to make this finally happen.

[Hyphen(-)]

If Twitter decides to accept Bitcoin as the only method of payment, it will obviously increase Bitcoin adoption.

Although Twitter is a well-known platform that is used by cryptocurrency experts to advertise crypto-related projects, I believe that now that Elon Musk is the owner of Twitter and has a passion for Bitcoin and cryptocurrency, he will try to advance Bitcoin and cryptocurrency in order to increase Bitcoin adoption globally.

However, Elon will prefer to accept Doge coin as a form of payment because he owns a large portion of Doge coin, which will also encourage the adoption of Bitcoin and other cryptocurrencies.

[Vaculin]

Lately Twitter has been filled with the news of Elon Musk's proposal for Twitter folks to pay $8/month for the blue checkmark. And there have been supporting and dissenting voice here and there. One of the comments that caught my attention is that of this user, Jack Mallers. He tweeted "Lightning (instant + near-free #bitcoin payments) should be an accepted payment method. Would allow for global, inclusive, private payments (important for pseudonymous users) that are cash-final (no chargebacks)." I read this, and the first thought that came to mind was, if Elon Musk consents to this we might likely see the bitcoin's mass adoption. Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?

Image source: https://twitter.com/jackmallers/status/1587787339237130240

It won’t go straight to mass adoption but I believe in one way or another, it will create a positive start for bitcoin to get accepted as a payment method. Although this is still a survey that may get positive or negative results from the audience, but if Elon Musk will push through about this, this will not just bring positive feedbacks for him but eventually, it will create large benefits to bitcoin owners and users.

[laurenB7742]

In all honesty, I did not expect this to happen. I still recall what he did with bitcoin last year, it could be another one of his attempts to manipulate markets. Previously, he accepted bitcoin as a method of payment for Tesla but later removed it, citing energy usage problems for bitcoin mining. If he integrates bitcoin into twitter it will cause contradiction between his words.

His use of bitcoin as a payment method for twitter just like other companies accept bitcoin, which would be positive news for the market but not enough to lead to mass bitcoin adoption.

[eightdots]

Mass adoption should be because the government agreed to use bitcoin as a legal tender. But if twitter accepts bitcoin payments because of Elon Musk, then it's not the mass adoption I was hoping for. Some other platforms also accept bitcoin as a currency or means of payment, previously I thought it would increase the use case of bitcoin as a currency.

Bitcoin is just an option for people if Elon Musk actually accepts the proposal on his platform. So there are certainly positives about bitcoin if Elon really wants to do it, but I don't expect it to be his second joke soon after Tesla.

Elon Musk never fail to influence other people but even if twitter will start accepting bitcoin, only tweeter will benefit from it and not the whole world. So it’s still not mass adoption to be certain. But it will pave way for a good understanding about bitcoin and eventually people will realize how valuable it is, that they will be eager to start accumulating bitcoin and use it for investments and for currency purposes too. Also, when twitter adopted bitcoin, then it won’t be long other sectors too will follow it and accept bitcoin payment maybe months or year from now.

The greatest improvement comes when governments accept it. I agree with these and similar comments. But it should not be forgotten that twitter is a network with global influence. Bitcoin payments could become more common thanks to Twitter. Even the adoption of Bitcoin as a form of payment is great. Elon can initiate this. Of course, he prefers doge over bitcoin. Whichever you choose between these two creates a positive effect. As you said, other networks and industries may follow suit and add bitcoin as a payment method.

[The Cryptovator]

I don't believe Elon will adopt Bitcoin anyway. Rather he might adapt Doge as a blue tick payment. Actually, Elon is following Telegram regarding the blue tick. They add some extra features for paid users who bought a premium package. People assuming Elon would accept doge and it's pumping lol. Even now, Telegram doesn't accept crypto to buy blue tick or premium packages. I don't know if something there matters of regulations. Because as far as I know now blue tick isn't opened for all the countries.

[AmoreJaz]

Mass adoption should be because the government agreed to use bitcoin as a legal tender. But if twitter accepts bitcoin payments because of Elon Musk, then it's not the mass adoption I was hoping for. Some other platforms also accept bitcoin as a currency or means of payment, previously I thought it would increase the use case of bitcoin as a currency.

Bitcoin is just an option for people if Elon Musk actually accepts the proposal on his platform. So there are certainly positives about bitcoin if Elon really wants to do it, but I don't expect it to be his second joke soon after Tesla.

Elon Musk never fail to influence other people but even if twitter will start accepting bitcoin, only tweeter will benefit from it and not the whole world. So it’s still not mass adoption to be certain. But it will pave way for a good understanding about bitcoin and eventually people will realize how valuable it is, that they will be eager to start accumulating bitcoin and use it for investments and for currency purposes too. Also, when twitter adopted bitcoin, then it won’t be long other sectors too will follow it and accept bitcoin payment maybe months or year from now.

The greatest improvement comes when governments accept it. I agree with these and similar comments. But it should not be forgotten that twitter is a network with global influence. Bitcoin payments could become more common thanks to Twitter. Even the adoption of Bitcoin as a form of payment is great. Elon can initiate this. Of course, he prefers doge over bitcoin. Whichever you choose between these two creates a positive effect. As you said, other networks and industries may follow suit and add bitcoin as a payment method.

we can't disregard the fact that if twitter indeed accept btc or other crypto payment, it may create adoption. though the adoption is different if it is the government itself, but the influence of twitter is global. so we can't disregard its impact in the crypto market. any kind of adoption is very much welcome as it further increase the demand of crypto. with the increase of demand, there will be increase in price.

[NotATether]

There won't be any crypto option sadly because these kind of decisions have to be made at the lower-level product manager meetings, he can't just say they'll accept a specific form of payment method without having the decision reverberate through all the lower ranks at the company so that there is no shock.

Also, people are saying that they wouldn't want the blue checkmark anyway if they had to pay for it, so no, it won't cause any mass adoption there.

[Franctoshi]

I do believe that Bitcoin is in the phase of mass adoption already before this Elon musk twitter Bitcoin/crypto payment integration. definitely If things work out in the right way , I do believe with it more and more people will now get access to Bitcoin and I believe in that way it will help mass adoption.

Lastly, we need good fundamentals like ths Twitter deal to help push Bitcoin adoption.
Taking a looking at things, the fundamentals holders of Bitcoin is gradually getting stronger.

[Cookdata]

I don't know why we like to associated bitcoin to Elon Musk, looking at that comment I feel that they are forced and trying to impress bitcoin to Elon, a man that sold 70% of his entire bitcoin holding during emergency will do something for bitcoin adoption, I don’t think he will implement that because I still recall when he said something pertaining to energy consumption which has not been cleared.

Lightning on top of twitter will be as good as  another centralized system which I don’t like and from what ensued between FTX founder and Elon during acquisition of twitter makes me think he wouldn’t attach blockchain to twitter because he rejected millions of dollar due to some conditions related to blockchain and twitter.

We should help bitcoin get adoption but relying on Elon and his newly acquired Bird App should rest, he wasn’t here since 2009 and bitcoin has been doing well.

[jackg]

There won't be any crypto option sadly because these kind of decisions have to be made at the lower-level product manager meetings, he can't just say they'll accept a specific form of payment method without having the decision reverberate through all the lower ranks at the company so that there is no shock.

If tesla accepts doge then I don't see a reason Twitter couldn't. I doubt they'd be affiliating themselves with bitcoin or accepting it though.

Also, people are saying that they wouldn't want the blue checkmark anyway if they had to pay for it, so no, it won't cause any mass adoption there.

I thought this too. A lot of people were saying it's likely cheaper and more efficient to impersonate someone now by buying a blue check then it is to stay genuine.
I had a thought verified users on other sites could circumvent this by linking to them - perhaps another site could take over twitter that does the same thing (it might have seemed like a big 4 giant in social media at some point - but I don't think it does now unless it gets a thorough reinvent: similar to tiktok but hopefully different enough to not be reels).