Would this Lead to the Mass Adoption of Bitcoin?

[coolcoinz]

If you haven't seen it, there's a followup:



It looks like Musk agreed to this deal.

IMO it won't be a big thing for the price but it's going to make more people aware of bitcoin. You bitcoiners might not believe it but there's still many people out there who use the Internet but know nothing about it.

[sunsilk]

Bitcoin is already in mass adoption but we want more of it because it's not yet the limit of it. When it's about Twitter and Elon, people are shouting for putting money where his mouth is and that's all about acceptance of Dogecoin.

That reply of Jack is a good one, there should be an exposure for lightning network so as bitcoin and that will certainly give another option for the payments.

If you haven't seen it, there's a followup:



It looks like Musk agreed to this deal.

IMO it won't be a big thing for the price but it's going to make more people aware of bitcoin. You bitcoiners might not believe it but there's still many people out there who use the Internet but know nothing about it.

Nice, this actually a good news if it's allowed. We just want to see the exposure of it and if it didn't click, hopefully Elon won't remove it and let it stay there for bitcoin's visibility to his users.

[Plaguedeath]

Mass adoption should be because the government agreed to use bitcoin as a legal tender.

Making Bitcoin as a legal tender would make people refuse to use Bitcoin and would increase demonstration since there's many people still hate Bitcoin. I don't think it's good to force Bitcoin become a legal tender, at least all country should not ban Bitcoin and let anyone to hold or buy Bitcoin freely. IMO there's many people on a countries where Bitcoin get banned want to buy Bitcoin, but they're scared and don't want to face a problem in the future.

[DanWalker]

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.

I still remember his tweets, he explained that because of concerns about the negative impact of Bitcoin mining on the environment, Tesla has stopped accepting car purchases with bitcoin. So I agree with your thinking, the possibility of accepting bitcoin for twitter is unlikely.

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.

This is hard to say, he turned down an offer to work with Sam Bankman-Fried but partnered with CZ.

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.

Absolutely correct, we should remember bitcoin has grown without the help of any individual and Elon only entered the market in 2021. Don't let him influence us too much, he does everything for his profit and not for us, don't let him manipulate us again.

[KennyR]

People have used to Twitter, maybe for that reason people will accept and pay the $8 per month. For people living in USA or grown countries it looks simple. For a person from third world country it is a day's earning. Elon Musk have come up with the suggestion, and he needs to rethink about it.

As the user suggested for the acceptance of bitcoin as payment for the premium. This could make some bullish movement in the market. It is just a corporate firm and it doesn't help in mass adoption. When a grown country announce of bitcoin adoption, such news will create good impact over the price.

[cryptoaddictchie]

Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?

Yes it could also boost other crypto and not just btc adoption. Since Elon is a fellow crypto enthusiasts. He possibly hold massive of it secretly and dont disclose morr information about it.

I think 8$ a month for those verified is not a burden but rest assured that all will accept that. Maybe some verified are use only for his own personal and not to monetize on contents.

[Kakmakr]

Elon Musk is not the type of person that goes with the mainstream, he always find ways to be unique. I think he will use some weird token that he invested in prior to the decision being made final to use it. (Like he did with Shiba & Doge)

He might even pay developers to create his own token and then we will see millions of people buying MuskCoins or paying with Elons to go to Mars. 

[harapan]

But why should people pay $8 monthly for the blue tick? That's complete trash and one of the quickest scheme to steal the masses money. I don't if everyone is okay with the payment but I am not comfortable seeing that tweet.
But using Bitcoin as a means of payment on Twitter no issues will be great. People know about Bitcoin, what's stopping the mass adoption are the government they have to consider alot of things before making implement 

[pooya87]

Elon Musk thinks about himself and his own pocket and anything that he does is in his own benefit that includes buying Twitter simply because he wanted to gain a lot of power over public opinion which is significantly affected by social media.
If bitcoin is used on this platform it will only be if he thinks he can make some profit from it like last time he used it to pump his stock and pump and dump some altcoins on the side.

[EarnOnVictor]

At last, the child has finally behaved himself, he thought the twitter deal was child's play. Now that he has control over it, I don't think anything positive or negative would happen to Bitcoin, at least when he did not tweet anything regarding it. What we should know is that Twitter and Bitcoin are not the same things and his stake in Bitcoin will not change this fact unless he decided to add another significant amount of BTC to his portfolio.

[mk4]

Even if bitcoin gets implemented for the checkmark's payment, it's highly likely to only be used by the huge minority and saying that it will be "mass adoption" would be pushing it; people in general would simply just use the typical PayPal/creditcard/debitcard payment.

In the end though, baby steps. Not because it's not a major adoption event doesn't necessarily mean it's not a good thing.

[Die_empty]

Yes it could also boost other crypto and not just btc adoption. Since Elon is a fellow crypto enthusiasts. He possibly hold massive of it secretly and dont disclose morr information about it.

I think 8$ a month for those verified is not a burden but rest assured that all will accept that. Maybe some verified are use only for his own personal and not to monetize on contents.

One of the greatest impediment to bitcoin adoption is lack of publicity. And Twitter has 396.5 Million user globally. This means that if Elon Musk approves the use of bitcoin as a means of payment, close to 400 million people would see the advert on twitter. This numbers might be insignificant compared to the users of fiat but it is a plus to the bitcoin community. Yes, not all of the users would choose the bitcoin option, but it would also attract new users. Like it or not Elon Musk has a lot of influence on the world''s economy. His influence even succeeds that of some nations, his actions has so much impact on any commodity.   

[Kemarit]

I was under the impression that Elon Musk is more willing to accept his Doge than Bitcoin though as payment for that $8/month for those blue badge Twitter account.

Anyhow, even if Twitter does accept Bitcoin, I don't think it will lead to mass adoption. We are already showing growth already, and it will take accumulation of factors to say that we are being adopted by everyone. This could be one of the many factors though, but for me it should come from government to make Bitcoin legal tender just like what El Salvador did.

[Rruchi man]

This means that if Elon Musk approves the use of bitcoin as a means of payment, close to 400 million people would see the advert on twitter.

There has always been adverts about about bitcoins, different exchanges all enticing you to come buy bitcoins from them, it hasn't still convinced people, how would an advert on twitter change that. I doubt that Elon will even choose bitcoins for payment, when we all know how much he has been promoting doge, this would be a big chance to push it up. Whatever his choice, bitcoins or doge, it will have an effect on cryptocurrency.

A lot of developments will promote the adoption of bitcoins, not just one thing like this. Thinking about it, I think a singular development that will have the most effect is if our governments begin to endorse bitcoins.

[Pmalek]

I don't think so. I would personally never pay a dime to have the option to use a social media profile the way I want to. They benefit from their users more than the users earn from them. It's free which means you are the customer. If he made such a decision, it could backfire on him and people could start leaving Twitter in protest for not wanting to further fill his greedy pockets.

And besides, Twitter is not exclusive for crypto enthusiasts. You can't introduce bitcoin or crypto as the only payment method if in the future it becomes mandatory to pay for the verified badge. I am sure there are more of those that have nothing and don't want anything to do with crypto than those that do. And that bigger group will need traditional payment methods.

So it might be news-worthy, but it's not going to be something that will cause mass adoption or have a significant impact on the price.   

[Lucius]

What does it matter if Mr. Mars will accept Bitcoin, shitcoins A or B, or maybe pumpkins for what he wants with his new toy, and he wants to earn more than he invested. After all, that man still considers Bitcoin transactions dangerous for the environment, because he promised that his T company will accept Bitcoin again when it becomes greener.

And now the OP asks again if Mr. Mars and his new toy will lead to some kind of mass adaptation of Bitcoin - well of course that has nothing to do with common sense - will people ever realize that this man has done more damage to Bitcoin than a lot of other people put together over the years?

[davis196]

I still have the feeling that Elon Musk is trolling everyone with this "pay for a blue checkmark" idea. Maybe he will refuse this idea after a while.
Having to pay for a simple blue checkmark would turn many users away from the platform. Paying 8 dollars in order to prove that you are the legitimate owner of a Twitter account seems like good idea, that would eventually increase Twitter's revenue, but on the other hand, Twitter doesn't possess a monopoly over the social media business. The competition would still offer completely free option to verify your social media account. I can't imagine the various ways to abuse this paid feature.
Jack Dorsey would have adopted LN payments on Twitter, but I'm not sure about Elon Musk.

[kryptqnick]

Initially, Musk was pushing for $20 per month for the blue checkmark, and also, he keeps making controversial statements, as if I remember correctly, the blue checkmark wasn't for everyone, but it was free, while now it will cost money. So much for making it more accessible.
I checked Musk's tweets and replies, and it seems he didn't respond to the Lightning payments thing. But then it seems like that guy who suggested it said that his company partnered with Twitter? I'm a bit surprised if Musk is actually going through with this, given how he's convinced that Bitcoin is bad for the environment. That being said, a payment option being available doesn't translate into a payment option being actively used, unfortunately. So even if it gets accepted, it will just be a piece of good pro-Bitcoin news but not much in terms of adoption.

[Minor Miner]

Yes it could also boost other crypto and not just btc adoption. Since Elon is a fellow crypto enthusiasts. He possibly hold massive of it secretly and dont disclose morr information about it.

I think 8$ a month for those verified is not a burden but rest assured that all will accept that. Maybe some verified are use only for his own personal and not to monetize on contents.

One of the greatest impediment to bitcoin adoption is lack of publicity. And Twitter has 396.5 Million user globally. This means that if Elon Musk approves the use of bitcoin as a means of payment, close to 400 million people would see the advert on twitter. This numbers might be insignificant compared to the users of fiat but it is a plus to the bitcoin community. Yes, not all of the users would choose the bitcoin option, but it would also attract new users. Like it or not Elon Musk has a lot of influence on the world''s economy. His influence even succeeds that of some nations, his actions has so much impact on any commodity.  

If talking about ads, I don't think it is necessary, the keywords bitcoin or cryptocurrencies are very popular nowadays, you can see them anywhere as long as you have a smartphone and an internet connection. I live in a rural area where many old people live, even though they haven't invested in bitcoin, they all know about it through the internet.

In this case I think he will choose doge over bitcoin because he is holding a lot of doge and that is in his favor, we can see what he does is for his benefit and not for the community, so I don't believe he will choose bitcoin.

[BlackHatCoiner]

Twitter verification payable with bitcoin? Yeah, no... Provided that a few hundred thousands are going to pay for such thing, and a small fraction of those would prefer paying with bitcoin over fiat, mass adoption is definitely not going to come from Twitter.

Mass adoption won't come from an optional blue tick. It'll come from mandatory usage of susceptible to censorship and anti-private CBDC.