Twitter becoming Worlds biggest Financial Institution?

[karmamiu]

The owner of the social media platform Twitter said during his conference on March 7 Here, that he is optimistic for his company becoming cashflow positive. Although he didn't directly stated that he won't be integrating crypto currency, he wants his social media platform to offer powerful finance system that is more superior than PayPal.

On his interview last year, he said that he slowly shifted his focus from crypto to AI, and stated that blockchain based twitter isn't possible. Due to his inconsistent behavior and doing things on a whim, we are left here thinking what crazy things he will do next. As previously, he was the one hyping about cryptocurrencies including Bitcoin, Doge, and SHIB.




Source: https://cryptoslate.com/elon-musk-has-ambitions-of-making-twitter-the-worlds-biggest-financial-institution/

[bettercrypto]

Right now we don't really know if it is the final plan of the owner of Twitter, Although it is undeniable that he is the cause of the sudden rise of doge and shiba inu but in bitcoin I don't believe that he is also the reason.

       Whatever he does on Twitter will not affect me because I have not used that platform for several years, especially since he will implement the monthly payment for those who have a Twitter account.

[Cuenta Alternativa]

We'll have to see, as Musk was one of the founders of Paypal, and it seems he wants to offer more services on Twitter than those offered so far, such as the financial one you mention, but just because someone has been successful so far doesn't guarantee future success, and he bought Twitter at a high price to begin with, so I'm going to wait to see how this materialises before I jump the gun.

[mk4]

Probably take whatever Elon Musk says about Twitter with a grain of salt. From what I can see, Twitter seems to be his sort of playground knowing how impulsive and experimental he is with concerning platform updates. Definitely not sure if this is the best way of doing things, but it's certainly interesting.

[retreat]

It seems that Elon Musk's grudge against PayPal and his ambition to be able to have a financial institution to be able to support the operations of his group is very large. He is willing to spend a lot of money to be able to take over Twitter and make it not only a social media platform, but also a financial platform whose users he can "squeeze" indirectly is something that I think is quite greedy. I'm not a rich man, so I can't guess how rich people like him think, but I think this is the real capitalist.

[davis196]

Musk is diving into the world of dreams and wishful thinking. He was dreaming about creating a cheap Tesla car(which won't happen).
Now, he wants to turn Twitter into a "financial institution"? How the hell does he plan to do this? Turning a Twitter into an online marketplace like eBay and Amazon? Letting the users send and receive payments between each other? What would be the incentive for them to use Twitter payments, instead of Paypal, Venmo, Zelle, Revolut or any other online payment provider(or cryptocurrencies)?
There's nothing wrong with being a dreamer, but you look ridiculous, when there's no possible way to achieve your dreams.

[karmamiu]

Musk is diving into the world of dreams and wishful thinking. He was dreaming about creating a cheap Tesla car(which won't happen).
Now, he wants to turn Twitter into a "financial institution"? How the hell does he plan to do this? Turning a Twitter into an online marketplace like eBay and Amazon? Letting the users send and receive payments between each other? What would be the incentive for them to use Twitter payments, instead of Paypal, Venmo, Zelle, Revolut or any other online payment provider(or cryptocurrencies)?
There's nothing wrong with being a dreamer, but you look ridiculous, when there's no possible way to achieve your dreams.

He is doing experiments on the platforms at the same time provoking other companies related or non related to his platform. As we could see clearly by his attitude, he is somewhat telling that he could offer or provide better services compared to those leading/pioneer payment system. As much as I hate it because of his nonchalant attitude, he also has a tendency of hyping things, and when he gets bored he will shift his attitude 180°. Although we cannot judge him due to his ability to stir up things and actually do it because of he is rich, he's like teaching younger generations to join trends just because it it hype. Even if we say it's none of our business, it will still have an impact on the economy. We'll just have to wait and see what he will do next.

[wajik-tempe]

It is usually happen that companies often adjust their strategies and priorities based on market conditions and user demands. It is also not uncommon for CEOs to change their opinions or priorities over time.
It remains to be seen what Twitter's strategy will be regarding finance systems and cryptocurrency integration, and how this may impact the platform and its users.

[crwth]

Well, it's known that he created PayPal, so he would probably do something similar and integrate it with Twitter. It should be for social media only, but it seems that it's going to be more than that now. I mean, if you have that power to make it more useful I guess.

More stuff to come in the future and more revealed. Lol

[tabas]

He just bought the company and why would he be pessimistic about his recent acquisition of Twitter? He'd tell things that will be a plus to him and for Twitter that's why he won't say anything negative to it unless someone puts him on his own pan to be cooked.
Elon is an attention guy so, anything he says always take it with a grain of salt. That's why those that have been believing that Dogecoin to the moon because of him, you probably have missed the time that you should be taking profits when it was still hot, hyped and trendy.

[BenCodie]

I don't usually respect Elon. I once thought he was a bit of a tool to be honest. However, if it's one thing I have learnt from him taking over Twitter, it is exactly like you said...He does everything off of a whim. He's not evil, he does not fore-think or scheme. He's just a (rather intelligent) child-like billionaire who is having fun treating the world of business as his playground. I can't disrespect that after realizing it. I suppose he earned it (despite his deeply buried transgresses, but what businessman does not have those?). I think that turning Twitter into a financial institution could keep the fiat wheel peddling just a little bit longer. It's a very smart idea from a business perspective, if done correctly. I can't say whether or not it'd be good for Bitcoin though.

[Rikafip]

On his interview last year, he said that he slowly shifted his focus from crypto to AI, and stated that blockchain based twitter isn't possible.

Blockchain based Twitter doesn't make much sense anyway, but Twitter using crypto for payments is something entirely different. Since we are talking about Elon Musk here, who knows what he will come up next, and what kind of bold clam he will make.

Well, it's known that he created PayPal, so he would probably do something similar and integrate it with Twitter.

That's one of the common myths, that he created PayPal while in fact his company merged with another one that made Paypal (Coinfinity) and after Elon was removed as CEO of that new company, they renamed themselves to PayPal and sold it to Ebay the next year.

His plans with Twitter is probably to make something similar to Wechat, which is a very popular app in China that is used for many things (including payments) and I think he even said something like that in the past.

[Sterbens]

Seeing Twitter's financial progress can actually be seen when ownership changed hands to Elon Musk. He made Twitter Blue a business for people who were really trying to gain influence or build their status on Twitter. Now, implementing a paid system is much different when Twitter is owned by Jack Dorsey. Today many people who are not artists, important people, and companies can have status on Twitter. This has also become a reference for Facebook, especially Instagram, which will implement a paid verified account system.

[so98nn]

Yeah he also added that there would be a tip button which will be used to appreciate the tweets of users. Now I am not sure how this will work up but it is going to be hell mess on Twitter sooner or later. Have you ever imagined having tip button which is actually linked to a financial server? If it is crypto then it might add up some security but if it is associated with fiat system then man it’s gonna be hack-o-than every where on Twitter.

No one can understand what is on his mind. Since the ownership of Twitter it has really become weirded place to stay on.

If they bring up in the mode of circulating money, then it is going to be MICRO STEEM model and nothing much.

[Dr.Bitcoin_Strange]

How the hell does he plan to do this? Turning a Twitter into an online marketplace like eBay and Amazon?

As one of Musk's admirers, I think he's a man who can successfully archive something he plans to, unless he doesn't mean it. Elon sometimes plays a joke that turns out to be what he's already working on. To me, Twitter is just fine the way it is (I don't really know how site creation and programming work), but if he wants to develop a payment platform that would be more superior than PayPal, then it should be a different platform that he may only need to integrate with Twitter, letting the social media aspect of Twitter remain unchanged.

[Gayong88]

Social media has exploded in the last decade, and Twitter is predicted to grow exponentially. If Musk wants to turn his thoughts into reality I think it makes sense even if he wants to turn Twitter into a bank it makes sense too. If this goes yes I think It will be a great achievement for the financial world in the future but anyway, we'll just have to wait and see how it turns out.

[ilovealtcoins]

Musk is diving into the world of dreams and wishful thinking. He was dreaming about creating a cheap Tesla car(which won't happen).
Now, he wants to turn Twitter into a "financial institution"? How the hell does he plan to do this? Turning a Twitter into an online marketplace like eBay and Amazon? Letting the users send and receive payments between each other? What would be the incentive for them to use Twitter payments, instead of Paypal, Venmo, Zelle, Revolut or any other online payment provider(or cryptocurrencies)?
There's nothing wrong with being a dreamer, but you look ridiculous, when there's no possible way to achieve your dreams.

He is also one of the founders of PayPal, don't forget that. What he said sounds far-fetched to us, but look at what he's done so far, and I'd love to know what you've done better than him. You and I are just spammers making money from signature campaigns, we are nothing more than him, so criticizing him is a bit wrong.

[Woodie]

The owner of the social media platform Twitter said during his conference on March 7 Here, that he is optimistic for his company becoming cashflow positive. Although he didn't directly stated that he won't be integrating crypto currency, he wants his social media platform to offer powerful finance system that is more superior than PayPal.

Don't take his word for it not unless you see some financial statements,btw Cashflow positive can mean any little profit above the investment and liabilities...besides this could have been said to help push twitter market share price up.

And his take on taking on PayPal can only mean intergration of crypto into his system as it's a working project unlike starting from ground up which could turn out to be expensive and time consuming before it's up and running.

On his interview last year, he said that he slowly shifted his focus from crypto to AI, and stated that blockchain based twitter isn't possible. Due to his inconsistent behavior and doing things on a whim, we are left here thinking what crazy things he will do next. As previously, he was the one hyping about cryptocurrencies including Bitcoin, Doge, and SHIB.

Source: https://cryptoslate.com/elon-musk-has-ambitions-of-making-twitter-the-worlds-biggest-financial-institution/

AI seems to be the buzz word but it can not survive on its on,it needs other projects to compliment it andbif you ask me this looks like Musk throwing us off the money trail,we all know he still has his head into cryptocurrencies.

[Lucius]

~snip~
On his interview last year, he said that he slowly shifted his focus from crypto to AI, and stated that blockchain based twitter isn't possible.

Slow would be the wrong word, because he was never "pro-crypto", and even less pro-Bitcoin in the way some believed. The man took advantage of the moment to probably make a lot of money in the way that he was once an ordinary crypto shill, and considering that he was already under investigation for his abuse of position and authority regarding the shares of his companies, there is a more than clear methodology by which he achieves his goals.

He'll probably be happy when he's sitting in his office on Mars and controlling people via some kind of AI linked to chips that will be implanted in their brains. His vision of the world is not only crazy, but also a bit dangerous, of course for us mere mortals who are just consumables for him and similar to him.

[Hispo]

Let us not forget that Facebook/Meta already tried to turn their platform into a huge financial institution and failed. Basically the regulators killed the project beyond any reasonable salvation.

Meta had big plans to connect the whole world within an unique payment system, if Twitter tries to do something similar, I have no doubt the same regulators will come after Elon Musk to stop him short and not allowing social networks to compete against banks. 

Decentralization or nothing, I guess.