Twitter, Twitter Again, and Lastly Twitter
Oh great another Twitter article. I beat this one has Elon Musk too. Correct, on both! However, this time there is so much information that we need to unpack that it is necessary. So what are the terms of the deal? Ah, glad you asked.
The Story
Tesla CEO & Founder Elon Musk has come to an agreement with the Twitter (TWTR) board to acquire the company and take it private.
Why Is It Important?
Minute Crypto, I thought this was a place where you exclusively talk about crypto. Well, yes! That is correct. We talk about crypto and everything related to it. As such Twtiter is a place were a lot of discourse takes place about crypto. In fact, the new owner, Elon Musk, used the platform to propel Dogecoin (DOGE) into new all time highs.
The Breakdown
Elon Musk is on the verge of becoming the new emperor owner of Twitter.The main discourse between his critics has been what does it mean for free speech and bots. On one hand, Musk wants to ensure that a platform that reaches billions of people across the world has a proper footing in establishing free speech. Others, his critics, see it as being too soft and allowing misinformation.
Further, he also wants to authenticate his users. However, there seems to be an issue brewing when it comes to autheticating the users. How is Musk going to go about this? If it is simple filling out a box or captcha then it doesn’t seem as bad, however if I.D is required or some form of human verification such as debit/credit card or something of that nature, then it could prove to be problematic. Many users use Twitter anonymously while others may not have access to proper forms of identificatoin.
Needless to say, the amount of data that musk would have at his disposal would also be quite problematic. For one, there have been many data breaches in Twitter. Second governments around the world could pressure Musk into giving information of dissendents and political rivals.
It is likely that Musk will implement some form of verification process. Nonetheless, the Bot problem that has persisted on Twitter is a real issue that will likely welcome any solutions.
Unstoppable Force meets an Immovable Object
In other news, the U.S Senate is set to confirm Biden’s nominees for the Federal Reserve.
The senate is on track this week to vote on multiple nominees to the Federal Reserve. If you are wondering why the lack of efficiency, well, Biden is a great example of “leading by example.”
To read more about this click here.
Going, Going, Gone!
A controversial New York bill has advanced that bans new facilities who mine crypto and don’t use renewable forms of energy. In other words, if you use renewable forms of energy then you are good to go. Additionally, if you are an existing facility that uses non-renewable forms of energy like coal or gas then you are okay.
This Bill would only impact new facilities that use non-renewable forms of energy to operate a crypto mining business.
The New York State Senate is expected to vote on Thursday, 04/27/22. For info check out this article.
Final Thoughts
If you got thoughts or questions about any of the following free feel to drop them down below. Till next time!
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