Are You A Twitter (X) User? | Are You A Crypto Enthusiast? | Will X and The Cryptoverse Merge?

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1 year ago

Topics: Twitter, X, Elon musk, X and Cryptoverse

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Disclaimer: This looks like financial advice, doesn’t it? You look at it from the right, it looks like I am pushing you to do what is written in the article. If you put your head down and think, you may be convinced that this indeed is financial advice. If you close your eyes, it may seem logical to do what is in the article.

Even then - Do Your Research! This is not financial advice! 😊

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Elon Musk or The Platform?

I know Elon is not exactly the darling of the crypto community; especially with the numerous U-turns he takes on crypto starting with BTC for Tesla to Doge for Twitter. Either way, it is not Elon that I am interested in as much as the tokenized platform – X.

Well, I already assumed that there would be tokenization or, for that matter, tokens introduced on the X platform. If you think about it, Elon creates organizations and moves on. PayPal is an example. By the way, PayPal has launched its stablecoin, which is not finding many buyers at the moment.

Why we brought up PayPal? Just to point out that it is not about Elon but about the platform.

Coming Back to X | Elon Musk and His Thousand Turns

The one thing about Twitter and Tesla that has rubbed the crypto community in the wrong way is Elon’s thousand turns. It all started with accepting BTC for Tesla and then dropping the plan like a hot potato. Why? Because Elon figured out that mining for BTC was polluting the environment. Elon did not know this already?

Anyway, then it was about Doge for Twitter (back when Elon had not taken over), then went silent on it, then he hummed about Shib, and then that went silent, then Doge was accepted for Tesla merch but not at a large scale, and then we don’t know what else. The takeover of Twitter and its subsequent renaming has got the hopes high for the crypto community again.

The extent to which the community follows Elon can be seen from BTC pumping the first time when Elon announced Tesla would accept Bitcoin to buy their cars. The same thing happened when Doge was hinted at as a tipping coin for Twitter.

*The moot point is that Elon M can be rearranged as Lemon or Melon, and both in substantial quantities were handed to the crypto community each time Elon made a crypto-related announcement.*

So, Let’s Discount Elon | And Let’s Look At X as A Platform

Now that we have discussed Elon at length, let’s look at the platform X, independently. Why independently? Because someday Elon will sell this one too, and someone else will be at the helm of affairs. So, X is of interest more than who owns it.

The recent news in the media circle is that X has been granted a currency transmitter license by Rhode Island’s regulator. In other words, X could become a social media platform with PayPal’s functionality. Not just that but it could additionally become a wallet for custody, transfer, and possibly trade of Bitcoin and other cryptocurrencies.

What does that mean? That means X wants to become Instagram + PayPal + Metamask.

*X = Instagram + PayPal + Metamask*

And in the future, also add Binance to the equation. How does that sound?

*X = Instagram + PayPal + Metamask + Binance (or any other exchange)*

The engineer in me wants to clarify that X is not a variable but the erstwhile social media platform Twitter. 😉

Ok Got It | So, What Now?

Now, it is about the Fear of Missing Out.

Imagine if all that is said above really happens, and the regular X user is awarded some of the tipping tokens. How cool would that be? And what if this token is worth an impressive amount? Then the question is, are you an X user? Will such a possibility push you to use X?

I am an X user because I use it for my crypto-related tweets. Though my engagement on X is minimal, I am keenly watching this space. It is a great development if you think about it, and as I mentioned before, discount Elon and look at the product. I think it would be a solid platform if it is coming up the way it has been hinted at.

Again, I am not going to spend sleepless nights on this, nor am I going to be worried by FOMO. I am just going to keep watching the space. 😊