Elon Musk Hints Twitter Will Integrate Crypto Payments if His Takeover Bid Is Successful – Featured Bitcoin News

Tesla CEO Elon Musk suggested that crypto payments be integrated into Twitter. “My goal would be to maximize the usefulness of the service,” he told Twitter’s employees in his first all-hands meeting with them.

Twitter’s First All-Hands Meeting With Elon Musk, Integrating Crypto Payments

Tesla and Spacex CEO Elon Musk, who may become the new owner of Twitter Inc., had his first all-hands meeting with Twitter’s employees Thursday.

Musk was able to answer many questions regarding how he will run Twitter if he is successful in his bid for the company to be bought by it. Musk accused Twitter of violating the merger agreement and has put the deal on hold at $44Billion.

According to Project Veritas, Musk mentions crypto several times during the meeting.

Leslie Berland, Twitter’s chief marketing officer, asked Musk: “Can you talk a little bit about Twitter and payments?”

The Tesla boss began by stating that “money is essentially a form of information,” adding that it is “fundamentally digital.” He added:

I think it would make sense to integrate payments into Twitter so that it’s easy to send money back and forth, and fiat currency as well as crypto — essentially, whatever somebody would find useful.

“So my goal would be to maximize the usefulness of the service — the more useful it is, the better. And if one can use it to make convenient payments, that’s an increase in usefulness,” he clarified.

Frauds, Spam and Crypto Scams

Berland also asked Musk questions about Twitter. Tesla CEO, Musk replied:

There’s definitely an ongoing challenge with Twitter with bot accounts and spam accounts. There’s quite a lot of crypto scams on Twitter.

“It’s gotten better, but there’s still a fair bit of that,” he continued. “There are also people where they’re not necessarily bots, but they might be operating. You know, one person’s operating hundreds of accounts and trying to make them look like individuals, but they’re not.”

Musk previously said that the spam bot is the single most annoying problem on Twitter and he vowed to defeat it “or die trying,” if his bid to buy the social media platform succeeds.

Transparency and trust, as well as free speech

Musk further explained to Twitter’s employees: “I think it’s extremely important that there be transparency. So that’s why I’m an advocate of having the algorithm be open source so that people can critique it, improve it, identify bugs, potentially, or bias.”

Noting that “transparency obviously increases trust,” the Spacex boss emphasized:

I think that trust is extremely important, and then just the usefulness of the system — getting rid of sort of troll farms and bots and spam is incredibly important.

Regarding free speech, Musk said: “I think it’s essential to have free speech and to be able to communicate freely … It’s free speech within the context of the law. So I’m not talking about suggesting that we just flout the law, because we’ll just get shut down in that case.”

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Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.