That's pretty expensive.
44 Billion.
So, Musk's offer for Twitter surprisingly went through, which means that either he knows something about the future of it or, the board knows something he doesn't.
Which is it?
They were saying originally that the offer is far too low considering the ATH on the stocks late last year was about 40% higher than the offer price, but then, all of 2021 was pretty green for everything.
With the expected economic collapse incoming - did he pay too much?
Well, I think that perhaps in regards to Twitter alone, he may very well may have, but obviously he has designs on it that stretch well beyond a platform for free speech. No person cares 44 billion dollars worth for freedom of speech alone and with that kind of money, it would be quite simple to build another platform. However, Twitter already has 83 million followers on Twitter and a very, very deep network of celebrity followers he can leverage.
And, while Twitter might not be making that much income, I suspect he is going to supplement his own value by leveraging the platform and tokenizing it - Doge on the hype is already up 25%
Followers love that hype!
Whether any of this is good for crypto remains to be seen, but I suspect that there are some benefits to Twitter tokenization, because if they do it, everyone will have to do it out of FOMO. While we take it for granted on Hive and we still complain, this shit isn't easy to get right and if you have to factor in 330 million monthly users, bots, businesses, corruption, localization to meet legal requirements and a million other things from a central point, there are a lot of moving parts.
One of the benefits of decentralization is that it puts the onus on the user to take responsibility for themselves, as there is no authority to lead or follow. But, centralized business and media especially, has been coming under scrutiny in the way they function at the social level and increasingly at the financial level also. Factor in an integration of decentralized (or centralized) currency that competes with fiat globally without the barriers of borders and, it is going to be attacked heavily.
Is it worth the effort?
Hell yes.
I think that Elon Musk is a shark and smells the blood of opportunity in the waters, where the entire financial system is not only on the brink of collapse, but unrepairable due to the incompetence, greed and thievery of those who manage it. He is the richest man in the world by far, but the money is just a marker for him, a token of progression - and he wants more.
Moar.
And, because he has made a move, all the other platforms are going to be watching with interest to see what kind of pushback he gets as while they are predominantly media - Musk is not. When the government pushes back against his Twitter moves, he has diversity of industry at his fingertips to leverage, with Tesla valued at over a trillion and SpaceX over 100 billion, plus the solar infrastructure and whatever else is going on there. It is not that easy to target one, without repercussions on the others for Musk, or a government.
Essentially, this gives him a freer-hand than others like Facebook might enjoy, which means that if they bend for him, they will also have to bend for the others and pretty soon, there is creep in so many directions, the governments can no longer contain it.
Decentralization is like a virus and it is spreading through all kinds of industries now, but may not look like it from the casual onlooker. However, if you see it like Hive where there is a base layer, the decentralization comes through the second layer applications and communities. This is where we are heading now, where instead of the government controlled economic base layer to build upon, businesses are starting to build their own frameworks that suit them and the needs of their communities.
In time, this will become entangled with each other and due to the sheer user volume spread and integrated throughout these overlapping communities, they will have to be accepted and will no longer be able to be teased apart - as immense amounts of value will be made on them and travel across them globally. If governments try to cut them down, they will not only meet heavy resistance, but will find that they are continuously losing access to more of their citizens' wealth.
As I have said for a long time, freedom requires mobility of the things that are important to us and that includes economic mobility. If people can't move their money, they will find another way. People need to remember that money only has value because we allow it to have value, but there are alternatives now so that we don't need a currency that is backed by a central bank - because we can do it for ourselves and each benefit as micro institutions - be our own bank.
You have heard these types of terms for years, but if you haven't been paying attention, it is happening, we are doing it and as long as we keep spreading out and building depth to the decentralized economy, it will keep expanding to the point that there will be a flippening - where the fiat economy retracts to the point, the decentralized economy takes over.
So, while this move by Musk might not be what we want in terms of decentralization, it could be a large step along the path of normalizing tokenization, so that the barrier of entry gets very low for the average person, because everyone is doing it already. It is part of the game and in this game, the rules are always on the move.
Taraz
[ Gen1: Hive ]
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He said the plan is to remove all the spambots and verify every human, will be interesting to see how he can do this.
The question was of course rhetorical, but let him try to do it with bots 🤣 !LOL
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But he's agreed to cut me some slacks.
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We know how Musk feels about censorship, but do we know how he feels about decentralization? I guess I can't recall reading anything about that. I might pick up some Doge just on the hype alone. He has a pretty proven record, so there is little doubt he will make something interesting out of this. Whether it makes money or not.
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Yeah, I am still not buying Doge - but there is likely money to be made there.
I don't think he is such a fan of decentralization of business but currency is something else - he can use decentralized currency to empower his business still.
well if the deal gets signed, we might be seeing some new faces dont you think so?
Very good points. I am still not sure what I am going to do.
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the idea he has is not really clear to anyone, from the edit button, to the matter of censorship I m not sure Jack doesnt have a hand in all this either. He seem to be smiling at the show.
Its probably a good time for the doge guys, but somehow I smell this tell some good for most other cryptos as well.
Dorsey is someone who understands decentralization - but what board would approve that? ;)
It's interesting to see how it goes after the richest man takes over.
The government may eventually lose its grip to the citizenry when massive decentralization comes into place in almost every industry.
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It would be a real shame if governments lost power over their citizens.
It would definitely be. That would be avoided though if they welcome the idea of decentralization and not always try to block it.
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I am seeing him Turning Twitter to more of like LinkedIn soon
why so?
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It's not a done deal, I don't think. Doesn't it still have to get past government approval?
This is actually a really good angle that I haven't considered.
I've been a bit down on the whole acquisition, trotting out the line that saying you're censorship-resistant is completely different to being technically censorship-resistant.
But we were never going to see adoption of a decentralised platform over night.
Heck, people still just think crypto = decentralisation.
This is all just a means to an end.
We'll get there :)
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I bet it's the second: "the board knows something he doesn't"
He has vision to foresee how the brand named decentralized economy can be leveraged to make more money for sure.
I am also a bit interested in seeing where Elon will lead Twitter and how he will fight against the current issues on Twitter. Just taking them private won't really solve anything and I think it's going to be a huge mess. Honestly, I don't think Twitter can ever be fully decentralized.
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I wonder why Musk didn't build another platform with that money. Twitter is an instant micro blogging platform, if tokenization it, it won'be a HIVE.
Thanks for the heads up bro.
When Doge hit the ATH, I was at $3k (usd)
I just moved 90% ($6.2k) of my Alts (shitcoins) portfolio back to Doge at $0.16
ATH for Doge was about 0.74.
I would have eventually heard. But seen it on...
The Taraz Hive Blog First..!
How many points do I owe ya on the Crypto Moonshot and Landing.??
Or would it be Mars now with Elon Musk. Would love to see it Tokenized!
And yes... I am back "On the Twat"
Deleted that crap in 2017...