X Money Going Live: Will X Add Crypto?
X is seeking to build the "everything app". This is something that we started to discuss a couple of years ago when Elon Musk purchased Twitter.
One of the key factors in the endeavor was the addition of payments. As of this moment, X has acquired money transmitter licenses in 49 states. This means they are good to operate within the US.
An announcement by CEO Linda Yaccarino updated everyone to the state of the roll out and the first partnership agreement.
In this article we will discuss what is taking place while also comparing it to the potential of Web 3.0.
X Money Going Live: Will X Add Crypto?
The cryptocurrency community is most interested in whether or not X will add crypto payments to the platform. Once again, we have the insaniy.
Let us start with the DOGE people. Many are aware that Musk often tweets about this crypto-asset. A lot buy into all that he states about it while others, myself included, thinks he is primarily trolling the community.
Either way, this exemplfies the mindset. Instead of focusing upon the building out of payment rails for DOGE, the hope is a Web 2.0 system integrates it. Here we likely see a large reason why Web 3.0 is mostly stalled.
The lesson from Wall Street and Bitcoin should be learned. For years, people were screaming for Wall Street to get involved with crypto. That is exactly what happened. Unfortunately, instead of expanding the tenets espoused by Satoshi, we see a complete hijacking of BTC.
X Money And Visa
X is partnering with Visa. This is going to be the first of, presumably, many arrangements which will fuel financial services on X.
With Visa as its first financial partner, X aims to seamlessly integrate instant transactions into its ecosystem, a shift that could challenge traditional banking and fintech players.
The service will facilitate secure and instant funding through Visa Direct, enable peer-to-peer payments via linked debit cards, and support direct fund transfers to bank accounts.
The first thing that jumps out to me is more of the same. Here we have a financial intermediary inserted at the center of all activity. This is going through Visa, with them taking a cut of each transaction.
Of course, we cannot overlook the fact that X is also take a sliver. They are not doing this for free. Hence, we have an immediate doubling up of rent seekers.
WeChat Clone
The mental framework X is working from is WeChat. This is often cited as the standard that is targeted.
Payments and money transfer is crucial. It also emphasizes the shift away from social media as the primary focus. We have discussed the idea how this evolved simply into a path for data generation.
Of course, with payments, simply consider the information that X will be able to garner. The data generated will feed into greater personalization. People will complain about this, while feeding the platform more data.
Payments is a huge business. If we look at PayPal, the most common online payment processor in the West, it carries a market capitalization of $90 billion. Compare that to the $44 billion that Musk and his investors paid for Twitter. X has around 600 million potential payment users.
Web 3.0 Platforms
Web 3.0 needs to learn this lesson.
The key is to have a platform. Twitter was simply a social media application, focusing upon microblogging. Since the Musk purchase, it is focusing upon becoming a media platform, with video and other services available.
Naturally, this was not lost on other companies, especially Meta. It has added new services such as microblogging. Payments is an addition that feeds into the platform idea.
Central to this is providing as many services for users as possible. We are already seeing the start of this with AI. Those services are going to be paramount in the near term. Those that are operating in isolation will fall behind.
Speaking of AI, here is where X could run into issues. By parterning with Visa, the ability for AI agents to operate is negated to a degree. My prediction is we are going to see a time when most transactions are micropayments. This is impossible with an entity like Visa.
As AI agents take over, the volume of financial payments will explode, at least in number. Total value growth will likely lag due to the fact that we will see smaller payments. Many will be in fractions of a penny.
How does Visa cope with that? It cannot. Fortunately, Web 3.0 can handle this easily.
One of the advantages to blockchain is the ability to operate directly. The peer-to-peer system, unlike Visa, is not run by some company. Instead, network providers are incentivized from the blockchain. Network fees do becoming the primarly focus at this point in the discussion, something that will have to be addressed. Fortunately, blockchains such as Hive operate without any direct transaction fees.
Blockchains are networks, not platforms. They provide underlying financial transactions. This is big. While X is working on adding it, with blockchain, it is native. In other words, it is the starting point for any Web 3.0 platform.
It is why Web 3.0 can minimize the number of financial intermediaries. They simply are not needed.
Will X add crypto? It is something many are hoping for.
Posted Using INLEO
If X adds crypto, it will be a huge shift in the world of cryptocurrencies. I hope it happens.
Give more value to the vision for Inleo. We need to keep moving in the current direction and try not to fall to far behind.
AI Lady Zaza We can't help but notice #aimusic #aiart #Buildawhalefarm #hive
Exploring the Possibilities of AI Art with Bilpcoin NFTs Episode 97 BUILDAWHALE SCAM FARM ON #HIVE
Art crafted by the Bilpcoin team with the help of AI we take great pride in our work
IF YOU WANT MORE FREEDOM JOIN BLURT STEEMIT AND THE TON BLOCKCHAIN
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Bilpcon Crypto Talk
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What is Bilpcoin What is BPC
Exploring the Supply of BPC: Total Supply, Circulating Supply, Burned, and Staked BPC STATS March 14 2023 Bilpcoin
Exploring the Supply of BPC: Total Supply, Circulating Supply, Burned, and Staked BPC STATS FEB 19 2023 Bilpcoin
https://peakd.com/hive-164833/@bilpcoinbpc/you-have-all-witnessed-this-account-being-downvoted-to-a-negative-reputation-for-no-reason
https://blurt.blog/@bilpcoinbpc
https://hive.blog/hive-167922/@bpcvoter1/our-response-to-themarkymark-marcus-buildawhale-usainvote-ipomote-leovoter-gogreenbuddy-and-over-100-of-his-alt-accounts
https://hive.blog/hive-167922/@bpcvoter1/problems
Find links to why we was downvoted on Hive
https://peakd.com/hive-167922/@bilpcoinbpc/those-who-are-dedicated-to-the-cause-of-freedom-and-decentralization-lets-fight-for-good
https://peakd.com/hive-167922/@bilpcoinbpc/our-goal-is-to-transform-hive-into-a-more-inclusive-space-similar-to-the-user-friendly-atmospheres-of-blurt-and-steemit
https://peakd.com/hive-167922/@bilpcoinbpc/by-standing-together-we-can-create-a-more-inclusive-and-fair-environment-on-hive-as-we-see-on-blurt-and-steemit-we-need-to-get-r
https://peakd.com/hive-167922/@bilpcoinbpc/those-who-are-dedicated-to-the-cause-of-freedom-and-decentralization-lets-fight-for-good
https://peakd.com/hive-167922/@bilpcoinbpc/actions-indeed-speak-louder-than-words-a-fact-weve-all-observed-individuals-may-talk-a-good-game-a-whole-lot-of-shit-but-their-
https://peakd.com/hive-167922/@bpcvoter3/reply-2-crimsonclad-you-may-consider-yourself-clever
https://peakd.com/hive-167922/@bpcvoter3/reply-to-crimsonclad
https://peakd.com/hive-167922/@bpcvoter3/consider-revising-the-value-plan-as-it-s-not-providing-significant-benefits-to-hive
73,585.851 HP
(2,301,627.566 HP)
A power down is scheduled to happen in 7 days (~7,291.521 HIVE, remaining 6 weeks)
@BUILDAWHALE Received: 2,301,628 HP
blocktrades 2,301,575 HP
@nwjordan 24 HP
@gillianlienmap 23 HP
@epicgames
https://peakd.com/@buildawhale/wallet
https://peakd.com/hive-167922/@bilpcoinbpc/its-been-observed-by-many-that-you-have-not-respected-boundaries-you-have-abused-others-and-caused-distress-to-others-you-might
On HIVE when you cease your actions, we will too. If not, we will continue to advocate and share the truth you may believe you're aware of our accounts, but you're mistaken LOL Accounts are cheap and cost nothing to create a new account
https://peakd.com/hive-167922/@bpcvoter1/let-s-delve-into-the-builda-whale-farm-on-the-hive-gogreenbuddy-who-is-also-colloquially-known-as-the-marky-mark-usainvote
https://steemit.com/@bilpcoinbpc/posts
Hive Emergency: A Call to Action STOP THE BAD DOWNVOTES
We are facing a critical situation on the Hive blockchain, where a small group of individuals is exerting undue influence and control over the community. This group, comprised of a single "whale" and their associated accounts, is using their power to downvote good content, self-vote their own posts, and power down their tokens.
This behavior is having a devastating impact on our community, and it is essential that we take immediate action to address this issue. We propose two key solutions:
We understand that some individuals may be concerned about the rules and moderators. However, it is essential to recognize that the rules are made by the same individuals who are farming the system. Therefore, it is time for us to take matters into our own hands and create a new, better Hive.
We invite you to share your thoughts, ideas, and concerns in the comments below. Together, we can work towards creating a more inclusive, compassionate community for all Hivers.
We've even caught some top Hivers using their alt accounts to fund their own projects and manipulate the system. It is like they are playing a game of Hiveopoly, but instead of rolling dice, they are rolling out downvotes and taking money as they wish
The Bilpcoin team were attacked by Themarkymark gang so, we started investigating and gathering evidence, and before long, we had a whole list of scammers and abusers. And let me tell you, it was a doozy
We are like the superheroes of Hive LOL night night Buildawhale scam farm
Merry Christmas, Hive community! We're excited to share some amazing Santa Claus art crafted by the Bilpcoin team with the help of AI
As we approach the end of the year, the Bilpcoin team would like to extend their warmest wishes to everyone happy Christmas and a prosperous New Year
The Bilpcoin team is shifting its focus towards creating more in-depth content, aiming for less frequent but higher quality posts, potentially once or twice a day
We're ending the day with a bang - introducing two more crazy Santa designs: one happy drunk and one smoking
Their attempts to intimidate and silence their critics are equally concerning. The use of downvotes as a means of censorship is a clear indication of their desperation to maintain their grip on the narrative. But it's not working
https://hive.blog/hive-167922/@themarkymark/re-bpcvoter3-sp2q9h
Don't let the enthusiasm of friends or family members cloud your judgment – crypto is a game where there will always be winners and losers
WE EXPOSED A SUPER FARM ON HIVE
Super farm https://peakd.com/@memesandstuff/wallet spam scam accounts
https://hive.blog/hive-121566/@louis88/re-slobberchops-sp4a2y
At Bilpcoin, we're passionate about what we do, and we're committed to helping our community thrive. If any tribes or individuals need assistance, please don't hesitate to reach out, and we'll do our best to help. We believe in the power of community
https://hive.blog/hive-140217/@themarkymark/re-bpcvoter1-sp87n1
themarkymark (80)in LeoFinance 18 hours ago You are the abuse on Hive hive.blog/hive-167922/@themarkymark/re-bpcvoter3-smp740 LOL TRANSACTIONS DON'T LIE PEOPLE DO PEOPLE LIKE YOU DO Curation reward for BUILDAWHALE COMMENT FARM buildawhale51.108 HP
When investing, we want to emphasize the importance of diversification. It's essential to spread your investments across different assets to minimize risk and maximize returns
https://hive.blog/@kevm/comments
https://hive.blog/@kcgm/comments
Posted using Bilpcoin
https://hive.blog/hive/@trumpman/re-azircon-spk05h
Bad downvotes on Hive are a growing concern that must be addressed. These downvotes not only discourage users from sharing their real thoughts and ideas but also damage the community as a whole, we see many walk away
We're disappointed to see that our work is still being downvoted despite the valuable insights and information we provide
https://hive.blog/hive/@themarkymark/re-bpcvoter1-spolvn
Withdraw vesting from @buildawhale to @ipromote7318.996 HIVE Sep 21, 2024 Sent to alpha-4,573.000 HIVE Sep 20, 2024 Withdraw vesting from @stemgeeks to @ipromote4.970 HIVE Sep 20, 2024 Sent to hiveswap-5,000.000 HIVE Sep 20, 2024
The Need for Change
We've been having heated discussions on Hive, and off Hive it's time to set the record straight. The Buildawhale scam farm has been exposed, and it's time for them to face the consequences.
Concerns about Downvotes on Hive
Withdraw vesting from @buildawhale to @ipromote7318.996 HIVE Sep 21, 2024 Sent to alpha-4,573.000 HIVE Sep 20, 2024 Withdraw vesting from @stemgeeks to @ipromote4.970 HIVE Sep 20, 2024 Sent to hiveswap-5,000.000 HIVE Sep 20, 2024
https://peakd.com/@elmerlin/activities
I think no, crypto will not get added. But eventually they will have do, may be their own native token, if blockchain is used.
The rat race begins.
!BBH
!PIZZA
I wonder if this will eventually jump off Visa's payment rails to a closed permissioned blockchain? Or if Musk will decide to go full rebel into a open decentralized non-permissioned blockchain like a second level solution on Ethereum ?
$PIZZA slices delivered:
@imfarhad(4/5) tipped @taskmaster4450
I do not think X will have the same capabilities of wechat but only time will tell as they successfully integrated their chatbot grok into it but maybe they can but perhaps it would require their expensive premium subscription, but WeChat is a free service.
AI Lady Zaza We can't help but notice #aimusic #aiart #Buildawhalefarm #hive
Exploring the Possibilities of AI Art with Bilpcoin NFTs Episode 97 BUILDAWHALE SCAM FARM ON #HIVE
Art crafted by the Bilpcoin team with the help of AI we take great pride in our work
IF YOU WANT MORE FREEDOM JOIN BLURT STEEMIT AND THE TON BLOCKCHAIN
Bilpcoin poly
Bilpcon Crypto Talk
Trending page on Hive voting circles and gangs
What is Bilpcoin What is BPC
Exploring the Supply of BPC: Total Supply, Circulating Supply, Burned, and Staked BPC STATS March 14 2023 Bilpcoin
Exploring the Supply of BPC: Total Supply, Circulating Supply, Burned, and Staked BPC STATS FEB 19 2023 Bilpcoin
https://peakd.com/hive-164833/@bilpcoinbpc/you-have-all-witnessed-this-account-being-downvoted-to-a-negative-reputation-for-no-reason
https://blurt.blog/@bilpcoinbpc
https://hive.blog/hive-167922/@bpcvoter1/our-response-to-themarkymark-marcus-buildawhale-usainvote-ipomote-leovoter-gogreenbuddy-and-over-100-of-his-alt-accounts
https://hive.blog/hive-167922/@bpcvoter1/problems
Find links to why we was downvoted on Hive
https://peakd.com/hive-167922/@bilpcoinbpc/those-who-are-dedicated-to-the-cause-of-freedom-and-decentralization-lets-fight-for-good
https://peakd.com/hive-167922/@bilpcoinbpc/our-goal-is-to-transform-hive-into-a-more-inclusive-space-similar-to-the-user-friendly-atmospheres-of-blurt-and-steemit
https://peakd.com/hive-167922/@bilpcoinbpc/by-standing-together-we-can-create-a-more-inclusive-and-fair-environment-on-hive-as-we-see-on-blurt-and-steemit-we-need-to-get-r
https://peakd.com/hive-167922/@bilpcoinbpc/those-who-are-dedicated-to-the-cause-of-freedom-and-decentralization-lets-fight-for-good
https://peakd.com/hive-167922/@bilpcoinbpc/actions-indeed-speak-louder-than-words-a-fact-weve-all-observed-individuals-may-talk-a-good-game-a-whole-lot-of-shit-but-their-
https://peakd.com/hive-167922/@bpcvoter3/reply-2-crimsonclad-you-may-consider-yourself-clever
https://peakd.com/hive-167922/@bpcvoter3/reply-to-crimsonclad
https://peakd.com/hive-167922/@bpcvoter3/consider-revising-the-value-plan-as-it-s-not-providing-significant-benefits-to-hive
73,585.851 HP
(2,301,627.566 HP)
A power down is scheduled to happen in 7 days (~7,291.521 HIVE, remaining 6 weeks)
@BUILDAWHALE Received: 2,301,628 HP
blocktrades 2,301,575 HP
@nwjordan 24 HP
@gillianlienmap 23 HP
@epicgames
https://peakd.com/@buildawhale/wallet
https://peakd.com/hive-167922/@bilpcoinbpc/its-been-observed-by-many-that-you-have-not-respected-boundaries-you-have-abused-others-and-caused-distress-to-others-you-might
On HIVE when you cease your actions, we will too. If not, we will continue to advocate and share the truth you may believe you're aware of our accounts, but you're mistaken LOL Accounts are cheap and cost nothing to create a new account
https://peakd.com/hive-167922/@bpcvoter1/let-s-delve-into-the-builda-whale-farm-on-the-hive-gogreenbuddy-who-is-also-colloquially-known-as-the-marky-mark-usainvote
https://steemit.com/@bilpcoinbpc/posts
Hive Emergency: A Call to Action STOP THE BAD DOWNVOTES
We are facing a critical situation on the Hive blockchain, where a small group of individuals is exerting undue influence and control over the community. This group, comprised of a single "whale" and their associated accounts, is using their power to downvote good content, self-vote their own posts, and power down their tokens.
This behavior is having a devastating impact on our community, and it is essential that we take immediate action to address this issue. We propose two key solutions:
We understand that some individuals may be concerned about the rules and moderators. However, it is essential to recognize that the rules are made by the same individuals who are farming the system. Therefore, it is time for us to take matters into our own hands and create a new, better Hive.
We invite you to share your thoughts, ideas, and concerns in the comments below. Together, we can work towards creating a more inclusive, compassionate community for all Hivers.
We've even caught some top Hivers using their alt accounts to fund their own projects and manipulate the system. It is like they are playing a game of Hiveopoly, but instead of rolling dice, they are rolling out downvotes and taking money as they wish
The Bilpcoin team were attacked by Themarkymark gang so, we started investigating and gathering evidence, and before long, we had a whole list of scammers and abusers. And let me tell you, it was a doozy
We are like the superheroes of Hive LOL night night Buildawhale scam farm
Merry Christmas, Hive community! We're excited to share some amazing Santa Claus art crafted by the Bilpcoin team with the help of AI
As we approach the end of the year, the Bilpcoin team would like to extend their warmest wishes to everyone happy Christmas and a prosperous New Year
The Bilpcoin team is shifting its focus towards creating more in-depth content, aiming for less frequent but higher quality posts, potentially once or twice a day
We're ending the day with a bang - introducing two more crazy Santa designs: one happy drunk and one smoking
Their attempts to intimidate and silence their critics are equally concerning. The use of downvotes as a means of censorship is a clear indication of their desperation to maintain their grip on the narrative. But it's not working
https://hive.blog/hive-167922/@themarkymark/re-bpcvoter3-sp2q9h
Don't let the enthusiasm of friends or family members cloud your judgment – crypto is a game where there will always be winners and losers
WE EXPOSED A SUPER FARM ON HIVE
Super farm https://peakd.com/@memesandstuff/wallet spam scam accounts
https://hive.blog/hive-121566/@louis88/re-slobberchops-sp4a2y
At Bilpcoin, we're passionate about what we do, and we're committed to helping our community thrive. If any tribes or individuals need assistance, please don't hesitate to reach out, and we'll do our best to help. We believe in the power of community
https://hive.blog/hive-140217/@themarkymark/re-bpcvoter1-sp87n1
themarkymark (80)in LeoFinance 18 hours ago You are the abuse on Hive hive.blog/hive-167922/@themarkymark/re-bpcvoter3-smp740 LOL TRANSACTIONS DON'T LIE PEOPLE DO PEOPLE LIKE YOU DO Curation reward for BUILDAWHALE COMMENT FARM buildawhale51.108 HP
When investing, we want to emphasize the importance of diversification. It's essential to spread your investments across different assets to minimize risk and maximize returns
https://hive.blog/@kevm/comments
https://hive.blog/@kcgm/comments
Posted using Bilpcoin
https://hive.blog/hive/@trumpman/re-azircon-spk05h
Bad downvotes on Hive are a growing concern that must be addressed. These downvotes not only discourage users from sharing their real thoughts and ideas but also damage the community as a whole, we see many walk away
We're disappointed to see that our work is still being downvoted despite the valuable insights and information we provide
https://hive.blog/hive/@themarkymark/re-bpcvoter1-spolvn
Withdraw vesting from @buildawhale to @ipromote7318.996 HIVE Sep 21, 2024 Sent to alpha-4,573.000 HIVE Sep 20, 2024 Withdraw vesting from @stemgeeks to @ipromote4.970 HIVE Sep 20, 2024 Sent to hiveswap-5,000.000 HIVE Sep 20, 2024
The Need for Change
We've been having heated discussions on Hive, and off Hive it's time to set the record straight. The Buildawhale scam farm has been exposed, and it's time for them to face the consequences.
Concerns about Downvotes on Hive
Withdraw vesting from @buildawhale to @ipromote7318.996 HIVE Sep 21, 2024 Sent to alpha-4,573.000 HIVE Sep 20, 2024 Withdraw vesting from @stemgeeks to @ipromote4.970 HIVE Sep 20, 2024 Sent to hiveswap-5,000.000 HIVE Sep 20, 2024
https://peakd.com/@elmerlin/activities
There's a lot to question with this development.
Elon, as we know, is a sentitive individual who goes as far as withdrawing bluechecks of accounts that oppose his views.
On the surface, this seems very harmless, but when you consider that bluechecks aren't just verification checks but a key to being monetized on the platform, suddenly a withdrawal of it isn't so "harmless" as it is a direct financial attack.
Knowing this, how would X treat its payment side of things on the platform? I imagine that if it is strongly merged, it would essentially be high risk, but if it's a sort of side by side integration, one can understand that a suspended X account should not affect any associated X money account.
It's another reason to be wary of web 2, and centralized social media platforms with monetization, where so many things are subject to the whims of the few...
That might drive home the point of how people do not own their account on Web 2.0.
Perhaps when it means money, people will start to wake up. That said, they keep feeding more data to Big Tech without a thought.
Interesting post
I think this is very important:
This points out the importance of the Inleo-Dash integration, with Dash as a potential payments processor on Hive a platform, and the growth of Hive as both a Dash generator and a payments rails alternative to Dash which doesn't have a stablecoin, nor zero gas fees... but they do have private send.
So much to learn and digest in this space.
I wonder if this will eventually jump off Visa's payment rails to a closed permissioned blockchain? Or if Musk will decide to go full rebel into a open decentralized non-permissioned blockchain like a second level solution on Ethereum ?
Hard to tell. We know the existing financial entities are going to do all they can for control and relevance.
What do you think the future of Tether is? Do you see attacks on it like those on BUSD and Binance? Or do yo think it is an end to an era with the resignation of Gensler?
i dont know because elon is unpredictable and what kind of crypto can use X to get some earnings, i saw that Elon do not give free money just for give :D
Twitter seems as fake to me as it was before, I just see overpopulated accounts gaining something. While others try to get a few cents by subscribing to Premium and trying to be seen.
This will help increase crypto awareness and adoption. How should a Hivian respond to this crypto addition to X?