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Barring another change of heart and certain requirements being satisfied, Elon Musk's (1) purchase of Twitter appears to be going through. This raises the question of whether any or all of the changes he originally envisioned for the network will materialize.
The social media platform receives about 120,000 tweets per day about Bitcoin alone. Looking back to Musk's initial commentary when he proposed a buyout for Twitter provides insight into the changes he envisions for the platform. Twitter is a popular communication and news tool for crypto enthusiasts, with many users, investors, and scammers.
Focusing on free speech, getting rid of spam bots and phony accounts, adding an edit feature, and maybe accepting cryptocurrency payments have all been discussed and may still be on the schedule if the deal is approved. One potential area of investigation is the reported spam bots on Twitter.
Musk once said that if his offer to purchase Twitter were accepted, getting rid of spam and phishing bots from the website would be a key priority. If someone had a dogecoin for every cryptocurrency scam, there would be 100 billion Dogecoin (2) in circulation. They make the product much worse.
He even declared that they would vanish the spam bots or perish trying. He also suggested that they be overthrown by authenticating all humans. Later, Musk referenced the problems with spam bots as one of his main justifications for pulling out of the agreement.
Former US President Donald Trump (3), who was permanently banned from Twitter after the riot at the US Capitol, could return, according to Musk, who also discussed his position on free speech in a tweet. Musk hasn't publicly changed his position on this issue in the months since.
Musk also tweeted that he believes Trump shouldn't run for president again because of his divisive actions and that he should be let back on Twitter. Additionally, Musk has plans to open up access to crypto algorithms to the general public. He even conducted a poll that finally received over 1 million votes, with 82% of respondents agreeing with the idea.
Even while it's unclear exactly what Musk has in mind, it might entail making the software available for public inspection, allowing users to read the code and use it for their apps, and offering suggestions for modifications and how it functions.
Other ideas either died off or were already put into practice, such as the intention to use blockchain technology and charge 0.1 Dogecoin for each tweet or retweet, which Musk later indicated would not be practical. While Twitter may have beaten Musk to the edit button when the platform recently made it available, Musk also had the notion of providing a long-form tweet option.
However, the cryptocurrency community is still divided on whether the shift will benefit the platform, and some people have made light of the whole thing. However, Twitter is prepared to agree to the conditions of the agreement, and following the announcement posted on Twitter, it plans to close the sale at $54.20.