Dogecoin is once again in the spotlight with speculation that DOGE payments will be made available to X (formerly Twitter) as the platform seeks to charge users fees for posting and interacting with the platform. This is part of an effort to ensure that new accounts registered on the platform belong to real people, owner Elon Musk disclosed.
X is moving to Pay-To-Play.
To address the growing problem of bots on the X (formerly Twitter) social media platform, Elon Musk has proposed charging users a small fee. This fee would discourage practice by making it more expensive for bot operators to create too many accounts at once.
Musk confirmed the plan in an X post reply to X Daily News, which first broke the news on the platform. According to an
Interestingly, this is not a new phenomenon, as social media platforms have already started enforcing their policies in some areas. It is already being implemented in the Philippines and New Zealand. But now the social media platform wants to extend this rule to all new users.
Currently, new X users in the Philippines and New Zealand must pay a small annual fee of $1 to access the platform. This may seem like a very small amount, but it adds up quickly for bot operators who create thousands of new X accounts every day. The mission is that it will be expensive for these operators to carry out their activities, which will drastically reduce the number of bots created.
We used the regions where the policy is currently in effect to test how effective it is at reducing spam and improving user experience. With the proposed site-wide rollout, it’s safe to say the tests are positive.
“Unfortunately, a small fee for new user write access is the only way to curb the relentless attacks of bots,” Elon Musk said. “Currently, AI (and troll farms) can easily get past ‘Are you a bot?’”
Will Dogecoin payments be implemented?
There have been expectations for years that Elon Musk would finally implement Dogecoin payments on the X platform, but this has yet to come to fruition. Nonetheless, the Dogecoin community has not given up hope as X moves forward with its plans to operate as a payments platform by obtaining remittance licenses from several US states.
Interestingly, X already accepts cryptocurrencies on its platform, with things like Bitcoin being accepted as a way to tip creators. However, there are still no practical payment use cases for cryptocurrencies like Dogecoin on platforms such as paying subscription fees and sharing advertising revenue with creators.
Considering that the fee required for a new account to use X is very small, it is likely that Dogecoin payments will be adopted at some point. This is because the low fees and fast transactions of the Dogecoin network make it an ideal payment cryptocurrency for small transactions.
DOGE price at $0.15 | Source: DOGEUSDT on Tradingview.com
Featured image from US News Money, chart from Tradingview.com