Elon Musk proposed lowering the price of the Twitter Blue subscription and giving users the option to pay for the premium service in Dogecoin (DOGE).
The billionaire began a series of tweets arguing for issuing every Twitter Blue subscriber an “authentication badge.” He also noted that the platform should do away with advertising, as this “empowers corporations to dictate the rules.”
One user urged Twitter to adopt regional pricing, arguing that the $3 subscription is too expensive for some countries.
Maybe even an option to pay in Doge?
— Elon Musk (@elonmusk) April 10, 2022
«Yes, [the subscription] should be affordable in price and in the local currency. Perhaps even add an option to pay in DOGE?», — the Tesla chief.
The Twitter Blue subscription is available in the United States, Canada, Australia and New Zealand.
Against this backdrop, former Goldman Sachs executive Raoul Pal said that “the only way to make Twitter work is to create a token system.”
“People who add value to the network receive tokens, as is the case on Reddit, and the community decides who is accredited. The token economy is likely worth ten times the shares, as it creates a tangible asset for the community or the brand,” he explained.
In reply, investor Stephen Cole said that Twitter does not need “to reinvent the wheel,” because Bitcoin already exists.
You don’t need all the technical complexity and sketchy incentives of a new token to fix Twitter. We have a protocol for money now. Just use bitcoin + lightning.
Kill spam and scams by charging sats to register.
— Stephen Cole (@sthenc) April 10, 2022
«You don’t need all that technical complexity and fuzzy incentives of a new token to fix Twitter. We already have a protocol for money. Just use Bitcoin in conjunction with the Lightning Network. Kill spam and scams by charging for registrations», — he wrote.
Former Blockstream chief strategy officer Samson Mow expressed a similar view. He said that Lightning Network payments would also allow account holders to remain anonymous.
You have to take #Bitcoin Lightning payments then. Otherwise you wouldn’t allow for anon accounts to authenticate.
— Samson Mow (@Excellion) April 10, 2022
In April, Musk bought 9.2% of Twitter’s shares for $2.89 billion. The head of Tesla became the largest shareholder and joined the company’s board of directors.
Read ForkLog’s bitcoin news in our Telegram — cryptocurrency news, prices and analysis.