Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Dogecoin for Tipping Tweeters? FTX Founder Sam Bankman-Fried Outlines Vision for Remaking Twitter on Solana

by Daily Hodl Staff
April 15, 2022
in Altcoins, Blockchain

FTX cryptocurrency exchange founder Sam Bankman-Fried is sharing what could happen if Twitter were to run on the Solana (SOL) blockchain.

In a series of tweets, Bankman-Fried tells his 633,800 followers his thoughts about the possibility and implications of making Twitter decentralized.

“Tweets go on-chain, encrypted; the sender chooses who has access to them (i.e. who can decrypt). In some sense this unifies DMs and tweets–DMs are just tweets with the privacy setting of ‘only Jill’.”

He says that the social media platform can generate revenue by charging users for each tweet they send and by showing ads on the user interface (UI).

“At ~500m tweets/day, $0.01/tweet would replace half of Twitter’s revenue; $0.001/tweet would replace their profit.”

The CEO says that users would be able to control their data because their messages are on-chain. He says that anyone can also build their own Twitter UI.

“The UIs could grow out the ecosystem, and monetize through UI fees–or subsidize. Each UI could have its own moderation policy–no longer one person/company controlling speech.”

Bankman-Fried says that transforming Twitter into a decentralized platform is hard but doable. With Twitter running on a blockchain, he says that content creators on the platform can receive Dogecoin (DOGE) as rewards.

8) Would this be good for Twitter's bottom line?

I think so, given that they're only net making ~$300m/year right now, but who knows for sure.

Would this democratize social media, make the finances transparent, and remove single point of failure moderation? Yup.

— SBF (@SBF_FTX) April 14, 2022

Bankman-Fried shares his vision following Elon Musk’s offer to buy the social media giant for $43 billion. In an SEC filing, the billionaire says he wants to make Twitter a private company to unlock its extraordinary potential.

“I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy. However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form.”

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Vectorpocket

Submit a Press Release

Industry Announcements

  • Aurigami Collects $12 Million War Chest To Grow Aurora-Based Lending Protocol
    August 2, 2022
  • Impel Adds Bitcoin to ISO 20022 Financial Messaging on XDC Network
    August 2, 2022
  • Serenity Shield and Digital Insights Announce Strategic Partnership
    August 2, 2022
  • Crypto Platform Phemex Becomes Partner of Université Paris Dauphine – PSL To Support Research on DeFi and Cryptocurrency
    August 1, 2022
  • Open Loot Announces Partnership With Hit Factor’s War Park
    August 1, 2022
  • Post Voyager Partners With Ozys, Announces Plans for Multi-Chain Expansion
    July 29, 2022
  • First Decentralized Data Warehouse Space and Time Raises $10 Million Seed Round Led by Framework Ventures
    July 28, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,123.20
$23,123.20
0.45%
Ethereum
$1,703.24
$1,703.24
0.76%
Cardano
$0.520248
$0.520248
0.16%
XRP
$0.374239
$0.374239
0.5%
Dogecoin
$0.069191
$0.069191
1.25%

Spotlight

  • Third-Biggest Ethereum Whale Grows Wallet Balance by Nearly $800,000,000 in July on ETH Rallies: On-Chain Data
    August 1, 2022
  • Hedge Fund CEO Anthony Scaramucci Says Bitcoin 70% Below Fair Value, Predicts Brief Recession This Year: Report
    August 3, 2022
  • Ethereum (ETH) Competitor Pumps Nearly 35% After Announcement of New Instagram NFT Partnership
    August 5, 2022
  • Top Crypto Strategists Predict Breakout Rally for Bitcoin (BTC) This Week – But There’s a Catch
    August 2, 2022
Finance Magnates London Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl