WHY 𝕏 IS READY FOR Ð 👇🚀THIS is why Dogecoin is the Future of the Creator Economy...💰
As Twitter rebrands to 𝕏, the platform is entering a new phase of its evolution as the ultimate digital creator’s economy.
Every economy is composed to two parts: valuable goods/services, and a form of money to facilitate transactions.
Right now, people still use US dollars to buy and sell on 𝕏. But that could be changing soon.
Let’s take a look at why 𝕏 is ready for Ð...
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Last week, Elon set the crypto world abuzz by changing his profile location to 𝕏Ð.
The change, which is still up as of today, suggests a connection between the newly branded platform and digital dog money.
But what is it? Over the past week, a few clues emerged.
On Wednesday, a feisty exchange between three crypto power players revealed an avenue for Doge adoption on 𝕏.
It started when Coinbase founder Brian Armstrong made a post arguing that crypto can gain global acceptance by making payments faster (under one second) and cheaper (less than once cent per transaction).
Twitter founder Jack Dorsey responded by urging more attention to Bitcoin, especially the Lightning Network, a protocol that makes Bitcoin faster and cheaper to spend.
A few years ago, Jack integrated the Lightning Network directly into Twitter.
The problem was that no one used it. Elon discontinued Lightning after he took over last year.
A big reason Lightning never took off is that Bitcoiners don’t like to spend Bitcoin.
Most “orange-pilled” devotees follow a philosophy of accumulating as much Bitcoin as possible, with a plan to build generational wealth by holding for decades.
There’s strong justification for this: even a few bucks of Bitcoin purchased a decade ago could be worth hundreds of thousands today.
Folks have learned the hard way that it’s rarely a good move to part with Bitcoin.
In response to Jack, the popular Dogecoin account Doge Whisperer pointed out this dynamic, writing, “Bitcoin is a store of value, a hedge against inflation and creates generational wealth. People hold and not spend no?” Elon liked the post.
Bitcoin hoarding has created an interesting conundrum for crypto: to go mainstream, it has to achieve wide recognition as money.
But the most successful cryptocurrency (Bitcoin) is built to encourage hoarding instead of spending, which prevents it from circulating widely and achieving mainstream adoption.
Fortunately, there is a solution to this problem: #Dogecoin.
A number of factors make $DOGE the best crypto to reach broad use as digital cash.
First, Dogecoin is faster than Bitcoin, with lower fees.
Equally important, there’s no hard supply cap on Dogecoin, so it’s not guaranteed to rise in value like Bitcoin. This encourages people to spend Doge.
Somewhat counterintuitively, spending increases adoption and value.
On Thursday, Elon brought attention to a 2021 interview he did with Time Magazine. In the clip he argues that Dogecoin is better suited as a transactional currency than Bitcoin because the Doge blockchain is built to process more transactions per day.
Bitcoin’s code is designed for it to be a savings technology like digital gold, while Doge works more like digital cash.
Before Doge goes mainstream as IRL digital money, it will have to grow its adoption online. And on Internet, nowhere is more crypto-literate than 𝕏.
𝕏 is tracking to become the premier digital marketplace for everything. Here’s a list of a few things ways Doge could integrate with 𝕏:
- Tips for great posts and memes
- Subscriptions
- Paywalled posts, videos, and articles
- Merchandise (𝕏 merch?)
- All purpose creator storefront comparable to Amazon/Shopify
It’s anyone’s guess which of these comes first.
Speculation reached a fever pitch over the weekend when Elon posted, “Something special coming soon”, causing Doge’s price to surge.
Dogecoin creator Billy Markus weighed in, saying he hopes 𝕏 integrates Dogecoin tipping.
Tips would be a great place to start because they’d provide another avenue for 𝕏 creators to make money by posting.
Currently, the latest way to earn a living on 𝕏 is through ad revenue sharing. However, the program has a high bar for eligibility: accounts need to get 15 million impressions in three months before receiving their first check, meaning smaller accounts can’t participate no matter how brilliant their posts.
Dogecoin tips would provide a more authentic metric for user engagement than views/impressions, and could be used to refine the 𝕏 algorithm so the best ideas rise to the top.
A single mega-viral meme, video, thread, or joke could earn someone thousands of dollars in tips from a worldwide audience.
In this light, tipping seems like the fastest way to democratize the creator’s economy.
Cryptocurrency will achieve mainstream adoption when it’s used for millions of small purchases on the Internet.
Of all cryptos, Dogecoin is best poised to capture this use case. It’s faster and cheaper than Bitcoin, and its issuance schedule encourages spending over hoarding.
Every economy is made of two parts: valuable goods/services, and a widely recognized form of money to facilitate sales.
Since Elon took over 𝕏, he’s taken steps to build a creator’s economy so that people can sell their goods and services on the platform.
The money piece comes next: 𝕏 is ready for Ð.
What do you think about 𝕏 integrating Dogecoin for tipping? Could this be the next big step for the creator economy? Be sure to repost this article if you found it insightful, and don't forget to SUBSCRIBE on my X Profile for deep-dive insights into the connection between 𝕏 and Ð all week long!
I get messages when Bored Apes were skyrocketing saying that I am so lucky to be in this position
Now that Bored Apes are crashing, I get messages telling me I am unlucky for not selling before
“Good luck, bad luck - who really knows?”
It reminded me of this Chinese parable ⬇️
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The Parable about the Farmer & his Fate
There once lived an old farmer. He relied on his horse to plow the fields. But one day the horse ran away. Upon hearing the news, the farmer’s neighbors rushed over to the farmer to say: “What bad luck this is. You will not have the horse during the planting season.” The farmer replied, “Bad luck, good luck - who really knows?”
A fews days later the horse, accompanied by 2 wild horses, returned to the stable. The farmer realized he could train them to help in the plow. Upon hearing the news, the farmer’s neighbors rushed over to the farmer to say: “What good luck this is. You will have 3 horses during the planting season.” The farmer replied, “Good luck, bad luck - who really knows?”
The farmer gave one untamed horse to his son. While riding, the don was thrown off & broke his leg. Upon hearing the news, the farmer’s neighbors rushed over to the farmer to say: “What bad luck this is. You will not have your son to help you during the planting season.” The farmer replied, “Bad luck, good luck - who really knows?”
A few days later, a Chinese emperor’s army came to draft the village’s eldest sons into the army. They look at the farmer’s son who has a broken leg & decided to leave him behind. Upon hearing the news, the farmer’s neighbors rushed over to the farmer to say: “What good luck this is. You are the only family that did not have their son drafted to the army” The farmer replied, “Good luck, bad luck - who really knows?”
This parable teaches us that:
1️⃣ Luck can be paradoxical. It’s your perspective & attitude towards the situation that matters
2️⃣ Every situation in life is transitory. Dark times will eventually pass. Good times will also pass. Nothing is permanent
3️⃣ It is critical to accept life as is rather than expanding energy on what could have been or should have been. Only then you can consider what’s the next best step for you
As for me, I’ve made a choice to work on building the IP of my apes with partners like @BorednHungry, @ApeBeverages, @storyverse_xyz, etc. Will this work? Idk. But that’s the step I’m taking.
Again, “bad luck, good luck - who really knows?”
Hey #Dogecoin. Influencers rushing to defend Binance should think twice.
This is a company who abused their power for years, offering no transparency, using manipulative tactics against decentralized, permissionless projects popular with retail which they could not control.
This thread is just the tip of the iceberg when it comes to their lack of responses to serious requests from the #Dogecoin community.
I know - like others, I spent the past years warning people about exchanges and their disregard for customers.
Hardly ever receiving a reply.
@mishaboar Hi @mishaboar I really don’t know where to put my coins. I transferred from ledger to Robinhood because of the recent issue. Should I put it back in ledger? I think my coins is safer there than exchanges? Thank you so much for your time
What rich people don't want you to know:
1. You won't get rich off a salary alone
2. Inflation steals your wealth, so invest
3. Buy assets, not liabilities
4. Never spend more than you make
5. Pay yourself first, always
6. Compound interest works wonders