I will support Elon Musk if he creates a stablecoin for Twitter
I will support Elon Musk if he creates a stablecoin for Twitter and also pays users for free, If Elon Musk pays $1 million per user per day, it would make the world rich quickly, Moreover, it will also provide liquidity to Bitcoin and other cryptocurrencies. I didn't support Mark Zuckerberg because he wanted to become the richest person in the world by creating more assets as a stablecoin and because Mark Zuckerberg wasn't even interested in Bitcoin, I refused to give approval to the US and European governments either. If Mark Zuckerberg had created a stablecoin, it would hardly have benefited users.
I don't think a stablecoin backed by Elon Musk is a good idea. It's going to be worse than Facebook's proposed stablecoin. Besides, why would you want a centralized stablecoin that's no different than ordinary Fiat? A coin that's issued by a private company comes with a lot of risks compared to a traditional Fiat currency that's backed by the government. Mr. Musk previously announced his intention to add Dogecoin as a payments tool for Twitter, so we'll see if he will keep his promise in the long run.
With what happened with Terra's UST stablecoin, I'd think twice before putting all of my life savings into any kind of stablecoin on the market. That includes Tether (USDT) and USD Coin (USDC). If you really want to play it safe, just sell your crypto for real cash. Problem solved. Who knows if sometime in the future governments decide to ban stablecoins for good? Just my opinion
