Elon's play is to try to turn X to WeChat - he's been forecasting this for a while. WeChat integrates with the Chinese banking system to make micropayments - its ability to be an "everything app" allows it to take lower transaction fees than the average in the United States when it comes to interchange fees. I suspect Elon will make a similar play with "X payments" or whatever. If he succeeds, it'll unfortunately likely to be an easy-to-track, custodybank payment network that has the added bonus of being tied to your social identity and communications.
I'm not convinced a large percentage of Western users want an "everything app" - certainly not a deep integration between banking and social media.
I think western tech companies have been bamboozled by the cultural differences between Chinese and Western users and don't realize that just because its a hit in China, doesn't mean its going to be a hit here....
And that's a good thing. X sucks, the concept of "an everything app" sucks for everyone except the owners of such app, a large part of the crypto market sucks.
It would be wiser to embrace the open web and neutral tools (such as Bitcoin) to build a truly useful app. He chose to opposite direction, those 40 billion dollars he spent on that piece of crap that was Twitter, should be assumed as lost.
https://m.stacker.news/36667
Elon's play is to try to turn X to WeChat - he's been forecasting this for a while. WeChat integrates with the Chinese banking system to make micropayments - its ability to be an "everything app" allows it to take lower transaction fees than the average in the United States when it comes to interchange fees. I suspect Elon will make a similar play with "X payments" or whatever. If he succeeds, it'll unfortunately likely to be an easy-to-track, custodybank payment network that has the added bonus of being tied to your social identity and communications.
I'm not convinced a large percentage of Western users want an "everything app" - certainly not a deep integration between banking and social media.
I think western tech companies have been bamboozled by the cultural differences between Chinese and Western users and don't realize that just because its a hit in China, doesn't mean its going to be a hit here....
I share your optimism, but I also wonder if we underestimate the population who use Venmo “socially.”
I've been surprised by how many people leave Venmo privacy public by default
The sheeple might not want it, they'll be pushed & coralled into using it anyway...
At least that is the plan!
Including league of legends lol
You summed it up well, even Elon is quiet when it has been called out about an Israeli firm managing users identification. X is a psyops honeypot.
He's such a bad human, don't buy his car, don't use his platform, don't listen to whatever bull. He's not good at all.
few
Elon to Twitter users, "Communism for thee not for me."
Lol, honestly a lot of Bitcoiners on there will welcome it with open arms.
Nostr
i thought he company told regulators in Maine this year that it has no plans to let users send and receive virtual currencies
He has his own motives as always. Follow the money trail!
Elon is a smart guy. He wants something that he can take over later on.
Is he going to let the doges out?
And that's a good thing. X sucks, the concept of "an everything app" sucks for everyone except the owners of such app, a large part of the crypto market sucks.
It would be wiser to embrace the open web and neutral tools (such as Bitcoin) to build a truly useful app. He chose to opposite direction, those 40 billion dollars he spent on that piece of crap that was Twitter, should be assumed as lost.
Of course it does