Leaked texts show Elon's plans for Twitter
The future of Twitter could very well be decentralized, using Dogecoin as the medium of payment...and we now have the texts to prove it!
This thread is pretty much a catalogue of text messages sent between Elon Musk, Jack Dorsey, Sam Bankman-Fried (SBF), and Elon's brother, Kimbal.
...all of which discuss the future of Twitter, as a decentralized service.
There are two main plans pitched: Plan A, and Plan B (along with some wild cards from SBF and Kimbal).
Here's what they look like:
Plan A
“I think it's worth both trying to move Twitter in a better direction and doing something new that's decentralized” - Elon.
Translation: keep building/improving Twitter as a centralized platform, while simultaneously working on a new social platform that lives on the blockchain.
“I have an idea for a blockchain social media system that does both payments and short text messages/links like twitter.
the second piece of the puzzle is a massive real-time database that keeps a copy of all blockchain messages in memory” - Elon
Translation: this separate platform would require users to pay a small fee each time they posted to their feed, or sent a message - which would make spamming financially unviable.
Plus, the platform would then be able to double as a payments app (kind of like the Apple Wallet, but for crypto).
Plan B
Marry the two ideas.
“My Plan B is a blockchain-based version of twitter, where the "tweets" are embedded in the transaction as comments.
So you'd have to pay maybe 0.1 Doge per comment or repost of that comment.” - Elon
Translation: instead of creating a separate decentralized platform to compete with Twitter, integrate that technology into the existing platform and charge users 0.1 Doge (about .01c) every time they tweet.
If Plan B were to be executed - Dogecoin would get a TON of new users by default (no wonder its price just doubled).
The big question is: would users be willing to pay for each Tweet they posted (even if it was just .01c)?
The Wild Cards
You can check out Sam Bankman-Fried's suggestion here - which is pretty much Plan B, with a twist.
But what really interested us was Kimbal Musk's take on advertising, basically suggesting this:
Advertisers buy and hold a bunch of 'Twitter tokens.'
As long as they're holding those tokens, they can submit ads to the platform.
Whether those ads get shown or not is voted on (in-feed) by users.
Outside of the initial purchase of Twitter tokens, no further payments will be required to advertise.
Meaning the only advertisements shown on the platform will be those that add value to the user experience - and if your ad creatives are approved by users, you can essentially advertise for free.
WILD!
