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“When I say payments, I actually mean someone’s entire financial life,” Musk said, according to audio of the meeting obtained by The Verge. “If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”
So basically Twitter is trying to become the equivalent of China's WeChat. A piece of centralized spyware with your "whole financial life" consolidated into one application. Hard pass. The difference between WeChat and X will be customer service—X won't have any; and the difference between X and banks will be consumer protections—X won't have any; and the difference between X and a CBDC would be both. The backend of each abusive iteration will carry minimal differences, and all feed into Ai models that inform the logic gates, and subject civil liberties to scaphism. The X platform is still bleeding users (thankfully) as Apptopia data shows and the BusinessInsider report detailed. I left X earlier this year after Musk's censorship in foreign elections—really the final straw for myself—the Turkish election being the most egregious. Musk has morphed into another toxic fiat creation. Would be nice to see bitcoiners get off this douchebag's dick, but too many are cult of personality addicts smoking an NgU pipe. Money and genius are indistinguishable mutually exclusive things to these people. Anyway, Stacker.News birthed the better more viable model directionally. Let the social tech and tradfi industry (most of which struggles to survive without 0% rates) fight one another for fiat rail supremacy. Let them box themselves in with walls too. No need for a FOSS petard in this case, just let them starve. Rant over.
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quality rant
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Wondering if he wants to compete with CashApp/Block, et al... that's what it sounds like he's going for here.
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That was the original PayPal vision, back in the day. A whole other layer for financial services.
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Any attack on TradFi is a good attack.
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What if this is worse though?
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Mmmh. Worse in what way? More centralized power?
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Censorship, privacy, etc. Not that TradFi is good. Just saying I think Elon's vision is to gain more control. I'm not down with that. He's not gonna take TradFi down. He's gonna work with them.
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This just sounds like joining tradfi
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You mean like in a the enemy of my enemy is my friend kind of way?
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