In this commentary, the speaker examines Elon Musk’s recent announcement that X (formerly Twitter) will move to a paid‑subscription model, likely costing around $9‑$10 per month. The video explores the business logic behind the shift, including the need to offset bot‑driven revenue loss and generate sustainable income for the platform. It also discusses the political ramifications of charging users, noting that a subscription could alienate a large portion of the user base and potentially harm advertising revenue. The speaker critiques Musk’s advocacy for universal basic income (UBI) as contradictory to his actions, labeling it disingenuous. Throughout, the narrative contrasts Musk’s approach with BitcoinMYK, a cryptocurrency‑backed social network that remains free, offers a monthly Citizens Dividend, and promises user ownership and autonomy via token economics and Metcalfe’s Law. The video ends by questioning whether users will accept paying for social media or migrate to alternatives like BitcoinMYK that provide free access and financial incentives.
Chapters
Welcome back to the channel. I hope you're having a great day. And so today we're going to talk about Elon Musk says X will charge everyone to use the platform. So Elon Musk is now, uh, trying to find a, a more efficient way to monetize X Twitter. Um, and of course, that's going to create a model there we haven't seen before. At this point, we can only wonder if the value of Twitter users, uh, if it's going to be worth it to the users to pay these subscriptions. Of course, what is this going to cost? You know, what are we looking at? What are we talking about here? A few bucks, $9, $10 a month. I don't know. I haven't seen very successful social media models that charge subscriptions on a level like Twitter. I haven't seen them quite successful. So then that makes me beg the question, is this something Elon Musk is confident in? Does he have a good handle on how to run these social media companies, etc. Uh, so this is going to be an interesting video. Uh, we're, we're going to talk about Bitcoin and YK in relation to this because I think it's very important. I think the timing of this coming up, uh, in comparison to what we're doing with Bitcoin and YK is going to be quite interesting. So, uh First, when you're, when you're dealing with somebody like Elon Musk, um, the richest man in the world, multi-billionaire, very talented, has been successful in many of his ventures, uh, it's hard not to like Elon Musk. But even so, there are a great amount of people who don't like him for various reasons. Um, now what's my problem with Elon Musk? My problem's not going to be anything like the reasons that most people don't like Elon Musk. In fact, I like Elon Musk a great deal. My problem with Elon Musk at this stage is that he's been one of the biggest advocates in universal basic income. He has the premier social media site he's spent a large sum of money on. He talks about the dangers of AI, robotics, and the need for universal basic income. But his actions show otherwise. When the richest man in the world don't feel there's anything he can do about Universal Basic Income to get it off the ground and make as much effort in it as he's made during his speeches, then that's been quite a disingenuous problem for me with Elon Musk. Now, many people's problems with Elon Musk is different. Let's go through a few. So, um, you know, of course the narrative that Elon Musk has become this very extreme right-wing person, uh, you know, from a business standpoint, and, you know, I'm, you know, I'm not, you know, whatever you are, that's what you are politically, uh, that doesn't bother me. The thing is, uh, from a business standpoint over at Twitter, when you start making moves like that What you're looking at now is you're looking at all those people who disagree with that political view, and you've made it public. And not only have you made it public, you've made it a good part of your direction to voice it, right, and take action on the site. And that's, uh, you know, he has his reasons for what he does, but from a business standpoint, Oftentimes a billion-dollar company with shareholders doesn't want to, you know, offend a large part of their user base. And with some of the things Elon Musk has done, he could potentially be offending half that base. Now, I think the gamble Elon made with Twitter— excuse me— and all this, I think Elon really believed that the, the, the message of, uh, censorship and, uh, who should be on the side and some of his political viewpoints. I think Elon really felt that he would be backed up by the people, like, you know, as I say, most people felt the way he felt, and it would seem they do. But I think the reality of the situation is, uh, it's probably more so like you're gonna have of, you know, half and half. You're going to have a large amount of people who, yeah, they agree with some of the moves, but from a business standpoint, just put this in, in, in business terms, if you offended like half of your user base, that, you know, that could be a problem. I'm not saying he did that, but what I'm saying is that he seems to be going down a direction where a large part of— for someone who's worried about his business profits, he seems to be going down a path where he's endangering them a great deal. Uh, probably not the wisest business move. Now, in his next move we're discussing here of social media, you know, being basically, uh, uh, a paid subscription service, uh, you know, many of you all will know we've never in the history for the most part, many of us paid for use of social media. Since its inception, we've never paid. And so to switch to a model that does that, it will have to be a quite valuable model that people think they really need in opposition to many other social networks they can just opt to use. And I think some of those social media sites are going to be those like Bitcoin and YK, because I think Elon Musk is really going to have to make this move because he needs the money for Twitter. He needs to get rid of these bots. You gotta remember, uh, even though some of you all look at BitcoinMYK and you go, it's not many people on BitcoinMYK, why would I go over there? Well, the thing is, uh, a lot of these major social networks are overrun with bots, right? So those— a lot of them aren't real people either. Uh, so a lot of them are overrun with bots. Is bad economically for a billion-dollar business because you can't count that value revenue. Um, and so this is some of the, the challenges Twitter is facing, but also what you guys are going to be facing. And that, are you going to be willing to fork out dollars every month to tweet on Twitter? Now, I think this can still a wee bit be useful to people who, you know, have large businesses, have large outreach. If even if we look at someone like Donald Trump, he ran a very successful presidential campaign saving tons of money running it from Twitter, right? And so, you know, you think about not needing marketing dollars and such because you can have that much access, right? and so on. So there are people with businesses and there are other things like that that's happening with. Now moving on to, um, you know, why I think there's gonna be a turning point for many people, uh, in these social media sites and networks, um, is that, uh, it's just gonna furthermore, I think, send home, you know, why are we shoving out all our money to these social media sites? Why are we you know, being under their control as far as network use. But the other part is it's just going to be darn difficult for Elon Musk to get not only people on Twitter but to pay that fee, because it's hard to get even our project BitcoinMYK where we're offering you free money every month free use of the site, uh, autonomy and control to where you can kick off the people you want. It's pretty much like you own the network. Uh, we can't even get people over with an offer like that easy. So it's just very difficult even if you don't have to pay and you have a ton of incentives to come over and use the site. We can't even break people up from that. And so the, the, the word out there on social media land is that many of these people already don't pay for Twitter Blue. They're not going to, you know, pay to use Twitter. And so I think Elon might be going down a dangerous path if he thinks Twitter is going to be profitable in that, in that way. He's also driven off a lot of his advertisers through his politics. You know, as we talked about earlier in the video. Before I get out of here, let's rush over to BitcoinMYK real quick and show you what some of the options on the horizon are going to be. Looking at BitcoinMYK, which is going to remain free, which is going to pay out the Citizens Dividend every month, um, and using Metcalfe's Law, we hope to grow a great deal in value. And of course, this is a different direction than what Twitter is taking. Um, now, um, you know, of course, um, the algorithm, it works on everything you do on social activity. It— you rewarded this cryptocurrency, and these things could be traded against, uh, Bitcoin and fiat dollars and such, uh, you know, your, your currencies of your land, etc., etc. And, uh, where thus you're able to gain value of the network in this sense. But this is where we're going here. I guess the question is going to be, are you guys going to be willing to pay for your social media in the future, or are you going to rather opt for systems like BitcoinMYK that has gotten into this space and, um, be able to own it, be able to to gain what we call the tech check every month, get value by using the cryptocurrency and so on and so forth? Or are you going to continue to waste your time on social networks, social media sites that, uh, don't give you any ownership, don't give you any autonomy, don't give you any, uh, um, privacy over your data, don't give you any decision-making in how the social network is run? Don't give you anything, but you will be required to pay monthly, uh, it seems, um, going forward. Anyway, that's all I got to say in this video. Don't forget to join BitcoinMYK.com today, the type of social media you want to engage in. Uh, and until next time, as always, take care of yourselves and each other.
