CZ proposes paid Twitter comment model via cryptocurrency use

On Apr 23, 2023

Changpeng Zhao (CZ) suggested Tesla CEO Elon Musk use a crypto payment system to easily restrict Twitter bot accounts & increase revenue for the Twitter company.

Twitter is a giant social media platform. In Q4 2022, Tesla CEO Elon Musk acquired Twitter as a private company for $44 billion. To acquire Twitter, Binance CEO Changpeng Zhao (CZ) also helped Musk with $500 million in funding. At present, Elon Musk is the CEO of Twitter & CZ is one of the investors in Twitter.

On 21 April 2023, In a conversation with American computer scientist Paul Graham, Twitter CEO Musk reached a productive discussion where people came to know that Twitter may bring an option for Twitter users to purchase bluetick option for their favourite celebrities or creators.

Well that's nice of you; thanks, Elon.

This might possibly be a good feature to add, to let people buy blue checks for accounts they want to support. If you add it, I'll pay your gesture forward by buying blue checks for 10 more accounts.
— Paul Graham (@paulg) April 21, 2023

Binance CEO CZ responded to this conversation and suggested Musk use the Crypto payment system in the Twitter comment system, which can be used by Twitter users in certain tweets where they don’t want to allow bot comments.

“Another way to reduce bots and increase revenue is to add an option “People you don’t follow need to pay $0.x to comment,” CZ said.

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According to CZ, such a paid Tweet model will prohibit the engagement of bot accounts and also will increase Twitter’s revenue.

Another way to reduce bots and increase revenue is to add an option “people you don’t follow need to pay $0.x to comment”. This will make it expensive for bots, and can be easily implemented with crypto. Twitter can take a cut, increased revenue. I will donate all my proceeds to… https://t.co/a2iETArO91
— CZ 🔶 Binance (@cz_binance) April 22, 2023

Many crypto Twitter users supported Binance CEO with this idea but few people noted that such steps by Twitter may push crypto adoption but surely will restrict productive discussion in the Twitter community.

Earlier this, Michael Saylor, former CEO of Bitcoin bull firm MicroStrategy, suggested Musk bring a Bitcoin lightning network-enabled payment system to allow Twitter users to get a verified tick.

Twitter can solve the problem of scammers & spambots if they allow real humans to post ~50,000 sats ($20) via Lightning⚡️ & get verified w/an Orange Check. Then we can limit comments/DMs to verified accounts. Bad actors forfeit their security deposit & @Twitter monetizes malice.
— Michael Saylor⚡️ (@saylor) March 28, 2022