Robert Steinadler, 5 months ago

How Twitters blue checkmark could drive Dogecoins mass adoption

Elon Musk has taken over Twitter and while we are only four days in after he took over, popcorn is already becoming the ultimately scarce resource on planet earth. He started by firing three executives including the CEO who managed to corner him and basically forced him to honor his initial offer for Twitter. Now Elon Musk is reversing “woke speech” and replacing it with free speech. Some fear that this could have a negative impact on democracy while others believe that even toxic or outright hateful opinions should be allowed on the social media platform.

What are Elon’s plans for Twitter, and how could a subscription model contribute to Dogecoins mass adoption?

Subscription model and monthly payments

Aside from letting go of staff and making jokes about their last names, Musk already discussed plans before taking over Twitter. Currently, the platform is free to use and users can apply to receive a so-called blue checkmark. It is still not exactly clear under what circumstances this checkmark is handed out to users. Some had to wait years until they are deemed worthy, while others got awarded immediately.

The checkmark indicates that the person or organization is officially registered with Twitter and a represents an official account. Presidents, authorities, and celebrities are more likely to receive the checkmark since their accounts are of public interest.

But who decides which account is of public interest? With a new subscription model, Twitter could change the way how the desired checkmark is awarded to users.

A premium subscription paid with Dogecoin

Currently, users pay $4.99 per month for Twitter Blue that is an optional subscription. Subscribers unlock features like undoing tweets, bookmark folders, custom app icons, themes and more. Twitter Blue is currently only available in the US, Canada, Australia, and New Zealand.

It appears that Musk is discussing the idea of $20 monthly subscription for power users which could include a blue checkmark. Of course, this could possibly reduce the prestige of this particular label, but it could also force holders of a blue checkmark to subscribe or risk losing their status. The even more important question to crypto twitter right now is if Dogecoin will play a vital part in these plans.

Many traders are speculating that once a subscription model is rolled out globally payments with Dogecoin will follow. The speculation alone had a significant impact on Dogecoins price over this weekend. Should both expectations be met and there will be indeed a subscription model that is globally available and involves Dogecoin payments, then this could heavily influence the market. While this sounds uber bullish it is worth to remember that the next FOMC meeting will take place this week and so far, the Feds policy has been dictating the direction of the crypto market for the better half of this year. It remains to be seen how the next meeting plays out. The indication of a pivot would be most likely to be bullish while a continuation of the Fed’s policy would be perceived bearish by most market participants.

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