Binance CEO Proposes Extra Twitter Subscription Payment in Crypto
- Changpeng Zhao suggested additional payment for Twitter users to check the use of bots.
- CZ suggested to Elon Musk for “people you do not follow” to pay to make comments.
- The Binance CEO thinks the option will make it expensive for bots and will produce more revenue for Twitter.
The Binance CEO Changpeng Zhao (CZ) has suggested additional payment for Twitter users to check the use of bots. In a tweet, CZ suggested to Twitter owner Elon Musk for “people you do not follow” to pay a certain amount to comment.
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
According to CZ, that option will make it expensive for bots and will produce more revenue for the micro-blogging platform. He also suggested users can pay for it using crypto. CZ asked Musk to introduce a structure that will make the payment shareable between Twitter and its users and promised he would donate all his proceeds to charity if Twitter implements the idea.
CZ raised this suggestion while contributing to a conversation between the renowned venture capitalist Paul Graham and Elon Musk over the events following Twitter’s monetization of the “blue tick” verification symbol. Graham had tweeted that deleting the original blue checks makes it easier for the first time to see what proportion of users pay for them.
Deleting the original blue checks makes it easy for the first time to see what proportion of users pay for them. Of the 723 accounts I follow, 136 have paid, 28 are either verified organizations or associated with one, and 559 have neither.
Graham identified a pattern among his followers who have subscribed to the Twitter Blue check. According to Graham, a higher percentage of the blue check subscribers on his followers’ list are tech-inclined. The rate of Blue Check subscription among those he follows who are not in tech is only 10%. He considers this pattern suspicious.
In response to Graham’s observation, Musk offered to pay for his blue check, a gesture that Graham appreciated, offering to pay it forward if the Twitter team would restructure the blue check subscription model to allow users to pay for accounts they want to support.
As of the time of the conversation, Graham was yet to pay for the blue check. A curious user asked why he hadn’t done so, and he replied that he wanted to observe how the item would read to him in a couple of weeks. Considering it is no longer based on merit.
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