Skip to main content

Beyond Dogecoin: Elon Musk Explains Why He Bought Twitter

Musk wants free speech, but isn't trying to make Twitter a "free-for-all hellscape."
With just one day to go before officially purchasing Twitter, Elon Musk today dropped a last-minute statement on his motivations for acquiring the social media giant. And the avid Dogecoin fan has much more in mind than just potentially incorporating crypto features on the platform. “There has been much speculation about why I bought Twitter, and what I think about advertising. Most of it has been wrong,” Musk said on Twitter on Thursday. Musk said his primary motivation for buying the company is to ensure the “future of civilization.” He said the goal is to preserve a “common digital town square,” where people with wide-ranging beliefs can debate their views without resorting to violence, rather than splintering into “far right-wing and far left-wing echo chambers.” The billionaire believes traditional media has consistently catered to these extremes in pursuit of profit but created an environment void of dialogue in the process. “That is why I bought Twitter. I didn’t do it to make more money. I did it to try to help humanity, whom I love,” he wrote. Musk clarified that he has no intention of making Twitter a “free-for-all hellscape” with “no consequences,” and that user experiences will remain customizable for what content they’d like to consume. Regarding advertisers, the Tesla CEO will aim for targeted advertising that is as relevant to users as possible. “Low relevancy ads are spam, but high relevancy ads are actually content,” he added. Cutting down on spam has been one of Musk’s top priorities for Twitter since announcing the buyout deal. Bot spam is especially prevalent in the crypto community, where scammers often adopt the identities of influencers, like Musk, to lure in investors. Musk has considered implementing blockchain-based solutions to address such issues. In leaked messages revealed last month, the mogul discussed having users pay a tiny amount to register messages on-chain, making spam costly. “There is no throat to choke, so free speech is guaranteed," he wrote at the time. Dogecoin, Elon Musk’s favorite cryptocurrency, has risen 31% over the past two days ahead of the deal, looking especially bullish amid a broader crypto market rally this week. The billionaire is well-known for moving markets with his tweets, even when crypto isn't directly involved.

Comments

Popular posts from this blog

Tom Selleck is tortured daily because of his long-term disease, his friends say

If rumors are to be believed, fans of the 'man behind the mustache' might have considerable cause for alarm over the actor's health. Several articles have recently made the rounds, all with the same premise: Hollywood heartthrob, Tom Selleck is facing rapidly declining health as he suffers from a debilitating bout of arthritis. One such source to lay claim to Selleck's failing health is Ghanamma.com, whose information is supported by The Nation, an online newspaper. Both sources state that Selleck's arthritis is becoming increasingly painful and hindering, to the point where he can no longer do his own stunts. More than that, however, the publications reported that Selleck uses a stunt double not only for demanding, challenging scenes, but also for the more trivial, mundane tasks, such as simply climbing out of his police vehicle on set while filming Blue Bloods. Some days are worse than others for the former action star, unnamed sources said, claiming tha...

Dogecoin surges 30% to a record above 50 cents as speculative crypto trading continues

  Dogecoin , the cryptocurrency based off a viral dog meme from nearly a decade ago, surged 30% on Tuesday to set a new record high at more than 50 cents per coin. The cryptocurrency was trading at about 54 cents, according to data from Coin Metrics. Dogecoin rose to roughly 40 cents per coin last month before falling sharply for several days after the calendar turned to April 20, a date widely celebrated as a marijuana-themed holiday. Dogecoin was started as a joke in 2013 amid a boom in early cryptocurrencies. It was based on a popular internet meme at the time that featured a Shiba Inu dog and cartoon-style text over the image. Its rise in recent months has been highlighted by many as a sign of froth and speculation in the financial markets, particularly among younger investors who started trading during the pandemic. The coin has been boosted in recent weeks by billionaires Elon Musk and Mark Cuban , who have both mentioned Dogecoin on Twitter multiple times. Cuba...

Investing In eCash (XEC) – Everything You Need to Know

 The eCash (XEC) project builds on the success of Bitcoin Cash and expands on its mission to provide the world with a more secure P2P electronic cash system . Notably, the developers took the valuable lessons learned from Bitcoin Cash and incorporated the solutions into eCash. As such, the protocol is more flexible, secure, and scalable than its predecessor. What Problems Does eCash (XEC) Attempt to Fix? There are a lot of problems that eCash seeks to do reduce in the market. For one, the project was designed to help alleviate investor confusion. Projects like Bitcoin can throw users off due to its abnormal format and unique technical structure. There are new terms and symbols that all add to the technical barriers to adoption. Recognizing these issues as hurdles, eCash’s developers decided to stick with a 2-decimal layout that mimics fiat currency. ecash (XEC) -Twitter Hard Forks Hard forks are another vital issue that eCash eliminates. Anyone who remembers the birth...