Crypto fans should support Elon Musk's subscription model for Twitter
Twitter's subscription model is a step toward decentralization, and it will better align incentives between content creators and consumers. consumers.
Opinion
Like many people, I was initially skeptical of Elon Musk's takeover of Twitter given his historical tendency to make bold promises, but later he backed down. That said, his idea of adding a subscription layer to Twitter and using it to both improve curation and diversify away from advertising has merit. If you believe in the core values of crypto, you should.
To understand why, we need to review the basics of Bitcoin (BTC). Most people focus their attention on the part, but the most remarkable thing about Satoshi Nakamoto's invention was the platform design.
Before Bitcoin, the general belief was that an open (i.e. permissionless) system where participants are anonymous and free to come and go could never be secure. Solutions like Byzantine fault tolerance - the network equivalent of democracy - had solved the problem of participants reaching consensus in a closed system, but could not be applied to an open network due to the risk that a participant claims to be several, also known as a Sybil attack.
Sybil's attacks are a threat to any democratic system, hence the need for restrictions such as voter registration or parliamentary roll call. They're especially annoying online, where one person pretending to be more than one person is easy. Hence the prevalence of spam, fake reviews and armies of bots on the internet.
Social media as it is designed today solves this problem in the same way as payment systems (
Twitter's subscription model is a step toward decentralization, and it will better align incentives between content creators and consumers. consumers.
Opinion
Like many people, I was initially skeptical of Elon Musk's takeover of Twitter given his historical tendency to make bold promises, but later he backed down. That said, his idea of adding a subscription layer to Twitter and using it to both improve curation and diversify away from advertising has merit. If you believe in the core values of crypto, you should.
To understand why, we need to review the basics of Bitcoin (BTC). Most people focus their attention on the part, but the most remarkable thing about Satoshi Nakamoto's invention was the platform design.
Before Bitcoin, the general belief was that an open (i.e. permissionless) system where participants are anonymous and free to come and go could never be secure. Solutions like Byzantine fault tolerance - the network equivalent of democracy - had solved the problem of participants reaching consensus in a closed system, but could not be applied to an open network due to the risk that a participant claims to be several, also known as a Sybil attack.
Sybil's attacks are a threat to any democratic system, hence the need for restrictions such as voter registration or parliamentary roll call. They're especially annoying online, where one person pretending to be more than one person is easy. Hence the prevalence of spam, fake reviews and armies of bots on the internet.
Social media as it is designed today solves this problem in the same way as payment systems (
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