4 ms·

If done right, X would become half of the global financial system

4 points by lopkeny12ko 3y ago

brucethemoose2 3y ago
https://xkcd.com/908/ https://xkcd.com/908/
smt88 3y ago
"If done right" is doing a tremendous amount of work in that statement. "If done right," any company could be the most successful business venture of all time. Musk couldn't even make Twitter into a slightly more successful social network. Why would anyone think he could pull this off? If anyone could, it wouldn't be an edgelord so fragile that he has to surround himself with sycophants.
- Justsignedup 3y ago
  I agree with everything you said. But I just one to make a correction. Musk couldn't keep Twitter equal to what it was. To think I'd trust him with my money. Ha.
- 3cats-in-a-coat 3y ago
  Yeah. If done right: - Outages every week (one as we speak: "this tweet is not available" reported by many). - Full of scam bots (including "verified" ones) & misinformation. - Speedrunning to bankruptcy losing billions per annum it doesn't have to spend. - Can't ship any significant features. - Over half a billion unpaid severance to former employees alone. - Dozens of other lawsuits over unpaid rent, bills, licenses, invoices, broken contracts. - Chairman/CTO with various weird/extremist statements every second day, running on pure impulse. - CEO the last to learn about anything happening at the company. Not sure, but I think maybe it's not done right.
WhereIsTheTruth 3y ago
There is a weird pattern with Elon Musk, it's hard to understand who he really is and what is his goal..? [1,2,3,4] I wouldn't be surprised if in 10 years from now we'll read similar stories like how the CIA infiltrated both google and VISA for control and mass surveillance, or rather spying activities worldwide [5, 6], but this time with Tesla/SpaceX and whatever his Cryptocurrency bank will be called It would be naive to think the CIA wouldn't anticipate and prepare the digitization of the society Specially when the BRICS wants to take the lead China is getting ready [7] The FED getting ready as well [8] Comes with an expiration date! [1] - https://slate.com/business/2013/05/tesla-is-worse-than-solyndra-how-the-u-s-government-bungled-its-investment-in-the-car-company-and-cost-taxpayers-at-least-1-billion.html https://slate.com/business/2013/05/tesla-is-worse-than-solyn... [2] - https://www.sec.gov/news/press-release/2018-226 https://www.sec.gov/news/press-release/2018-226 [3] - https://www.politico.eu/article/elon-musk-ukraine-starlink/ https://www.politico.eu/article/elon-musk-ukraine-starlink/ [4] - https://www.businessinsider.com/elon-musk-tesla-spacex-secret-service-special-agent-filing-donation-2021-4?r=US&IR=T https://www.businessinsider.com/elon-musk-tesla-spacex-secre... [5] - https://qz.com/1145669/googles-true-origin-partly-lies-in-cia-and-nsa-research-grants-for-mass-surveillance https://qz.com/1145669/googles-true-origin-partly-lies-in-ci... [6] - https://www.spiegel.de/international/world/how-the-nsa-spies-on-international-bank-transactions-a-922430.html https://www.spiegel.de/international/world/how-the-nsa-spies... [7] - https://time.com/6084146/china-digital-rmb-currency/ https://time.com/6084146/china-digital-rmb-currency/ [8] - https://www.federalreserve.gov/central-bank-digital-currency.htm https://www.federalreserve.gov/central-bank-digital-currency...
__warlord__ 3y ago
That sounds to me like any other crypto web3 mumbo company.
- 3cats-in-a-coat 3y ago
  What a coincidence that the crypto kids happen to overlap with a lot of Elon's fanbase.
  - darkclouds 3y ago
    Crypto addresses a problem which no central bank and its currency can address, transparency. My first thought when I saw point 9. Financial Institution is he's bought Twitter to get his hands on the code to spread data to all reaches of the planet perhaps to even improve Paypal. Visa and Mastercard have had problems in the past, their networks have failed to meet shopping demands at peak shopping periods, namely Xmas. Things like Black Friday are designed to flatten that curve whilst helping retailers offload old stock and clear inventory. Visa machines also work on POTS and POTS are being replaced by IP based systems. Here in the UK, our POTS system is being replaced by an IP based system which should be completed soon. Other countries like Singapore have been running an IP based system for over a decade so much so that public telephones offer free phone calls. There has only been one crypto currency so far that could match the speed and volume of transactions of the Visa network over IP but its not penetrated the market with its up take. The Visa network is currently the arguably best network for financial transactions on this planet, better than BACS, Swift, even the Fed has only just announced its network can do faster payments [1], and different parts of the world have their own payment network. Russia has been developing the MIR network [2,3] which is only used in 9 countries in response the sanctions on their use of the Swift network. So to me it looks like Twitter might have been a code purchase maybe for Paypal or maybe for something new like a crypto. Starlink also gives him some advantages like being able to penetrate parts of the planet where telecoms cables dont exist or are not fast enough or are restricted or censored in some way. The satellites might not have the speed of fibre, but he's got a massive chuck of frequency range at his disposal to make up for. Time will tell, but I cant stress enough the difficulty in shifting data around the world fast enough, thats a massive challenge, but I think he's got a different angle to shift that data which I think Twitter uses. [1] https://www.federalreserve.gov/newsevents/pressreleases/other20230720a.htm https://www.federalreserve.gov/newsevents/pressreleases/othe... [2] https://www.reuters.com/business/finance/russias-swift-alternative-expanding-quickly-this-year-says-cbank-2022-09-23/ https://www.reuters.com/business/finance/russias-swift-alter... [3] https://www.reuters.com/article/russia-payments-idUSL8N36G4HQ https://www.reuters.com/article/russia-payments-idUSL8N36G4H...
3cats-in-a-coat 3y ago
If I stir my alphabet soup right, it'll spell out a bestselling novel.
dleeftink 3y ago
That would upset quite some powers that be. What's more interesting here is how X's future is framed as an ever fluid app reacting to the supposed wants and needs of society. There is some irony in squaring the fluidity of his future visions and his mocking of the fluidity of people.
archo 3y ago
https://archive.is/iQDDX https://archive.is/iQDDX Nitter : https://nitter.net/zaimirii/status/1683177429836210176 https://nitter.net/zaimirii/status/1683177429836210176
apengwin 3y ago
dang, too bad it's gonna be done wrong

4 points by lopkeny12ko 3y ago

https://xkcd.com/908/ https://xkcd.com/908/

"If done right" is doing a tremendous amount of work in that statement. "If done right," any company could be the most successful business venture of all time. Musk couldn't even make Twitter into a slightly more successful social network. Why would anyone think he could pull this off? If anyone could, it wouldn't be an edgelord so fragile that he has to surround himself with sycophants.

Justsignedup 3y ago
I agree with everything you said. But I just one to make a correction. Musk couldn't keep Twitter equal to what it was. To think I'd trust him with my money. Ha.
3cats-in-a-coat 3y ago
Yeah. If done right: - Outages every week (one as we speak: "this tweet is not available" reported by many). - Full of scam bots (including "verified" ones) & misinformation. - Speedrunning to bankruptcy losing billions per annum it doesn't have to spend. - Can't ship any significant features. - Over half a billion unpaid severance to former employees alone. - Dozens of other lawsuits over unpaid rent, bills, licenses, invoices, broken contracts. - Chairman/CTO with various weird/extremist statements every second day, running on pure impulse. - CEO the last to learn about anything happening at the company. Not sure, but I think maybe it's not done right.

WhereIsTheTruth 3y ago

There is a weird pattern with Elon Musk, it's hard to understand who he really is and what is his goal..? [1,2,3,4] I wouldn't be surprised if in 10 years from now we'll read similar stories like how the CIA infiltrated both google and VISA for control and mass surveillance, or rather spying activities worldwide [5, 6], but this time with Tesla/SpaceX and whatever his Cryptocurrency bank will be called It would be naive to think the CIA wouldn't anticipate and prepare the digitization of the society Specially when the BRICS wants to take the lead China is getting ready [7] The FED getting ready as well [8] Comes with an expiration date! [1] - https://slate.com/business/2013/05/tesla-is-worse-than-solyndra-how-the-u-s-government-bungled-its-investment-in-the-car-company-and-cost-taxpayers-at-least-1-billion.html https://slate.com/business/2013/05/tesla-is-worse-than-solyn... [2] - https://www.sec.gov/news/press-release/2018-226 https://www.sec.gov/news/press-release/2018-226 [3] - https://www.politico.eu/article/elon-musk-ukraine-starlink/ https://www.politico.eu/article/elon-musk-ukraine-starlink/ [4] - https://www.businessinsider.com/elon-musk-tesla-spacex-secret-service-special-agent-filing-donation-2021-4?r=US&IR=T https://www.businessinsider.com/elon-musk-tesla-spacex-secre... [5] - https://qz.com/1145669/googles-true-origin-partly-lies-in-cia-and-nsa-research-grants-for-mass-surveillance https://qz.com/1145669/googles-true-origin-partly-lies-in-ci... [6] - https://www.spiegel.de/international/world/how-the-nsa-spies-on-international-bank-transactions-a-922430.html https://www.spiegel.de/international/world/how-the-nsa-spies... [7] - https://time.com/6084146/china-digital-rmb-currency/ https://time.com/6084146/china-digital-rmb-currency/ [8] - https://www.federalreserve.gov/central-bank-digital-currency.htm https://www.federalreserve.gov/central-bank-digital-currency...

__warlord__ 3y ago

That sounds to me like any other crypto web3 mumbo company.

3cats-in-a-coat 3y ago
What a coincidence that the crypto kids happen to overlap with a lot of Elon's fanbase.
- darkclouds 3y ago
  Crypto addresses a problem which no central bank and its currency can address, transparency. My first thought when I saw point 9. Financial Institution is he's bought Twitter to get his hands on the code to spread data to all reaches of the planet perhaps to even improve Paypal. Visa and Mastercard have had problems in the past, their networks have failed to meet shopping demands at peak shopping periods, namely Xmas. Things like Black Friday are designed to flatten that curve whilst helping retailers offload old stock and clear inventory. Visa machines also work on POTS and POTS are being replaced by IP based systems. Here in the UK, our POTS system is being replaced by an IP based system which should be completed soon. Other countries like Singapore have been running an IP based system for over a decade so much so that public telephones offer free phone calls. There has only been one crypto currency so far that could match the speed and volume of transactions of the Visa network over IP but its not penetrated the market with its up take. The Visa network is currently the arguably best network for financial transactions on this planet, better than BACS, Swift, even the Fed has only just announced its network can do faster payments [1], and different parts of the world have their own payment network. Russia has been developing the MIR network [2,3] which is only used in 9 countries in response the sanctions on their use of the Swift network. So to me it looks like Twitter might have been a code purchase maybe for Paypal or maybe for something new like a crypto. Starlink also gives him some advantages like being able to penetrate parts of the planet where telecoms cables dont exist or are not fast enough or are restricted or censored in some way. The satellites might not have the speed of fibre, but he's got a massive chuck of frequency range at his disposal to make up for. Time will tell, but I cant stress enough the difficulty in shifting data around the world fast enough, thats a massive challenge, but I think he's got a different angle to shift that data which I think Twitter uses. [1] https://www.federalreserve.gov/newsevents/pressreleases/other20230720a.htm https://www.federalreserve.gov/newsevents/pressreleases/othe... [2] https://www.reuters.com/business/finance/russias-swift-alternative-expanding-quickly-this-year-says-cbank-2022-09-23/ https://www.reuters.com/business/finance/russias-swift-alter... [3] https://www.reuters.com/article/russia-payments-idUSL8N36G4HQ https://www.reuters.com/article/russia-payments-idUSL8N36G4H...

3cats-in-a-coat 3y ago

If I stir my alphabet soup right, it'll spell out a bestselling novel.

dleeftink 3y ago

That would upset quite some powers that be. What's more interesting here is how X's future is framed as an ever fluid app reacting to the supposed wants and needs of society. There is some irony in squaring the fluidity of his future visions and his mocking of the fluidity of people.

archo 3y ago

https://archive.is/iQDDX https://archive.is/iQDDX Nitter : https://nitter.net/zaimirii/status/1683177429836210176 https://nitter.net/zaimirii/status/1683177429836210176

apengwin 3y ago

dang, too bad it's gonna be done wrong