Skip to content
Do you have adblock enabled?
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Yahoo)   Elmo wants TwitPay to disrupt the payments industry, and with crypto. Banks: Oh wait, let me laugh even harder   (finance.yahoo.com) divider line
    More: Unlikely, Bitcoin, Twitter, Fiat money, PayPal, United States Department of the Treasury, Payment, Financial Times, Elon Musk  
•       •       •

775 clicks; posted to Business » on 31 Jan 2023 at 4:25 AM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



50 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2023-01-30 9:58:21 PM  
So, he's dropped a lot into cryptocurrency, and he NEEDS rubes to inflate its 'value' since his stock prices are tanking?

Dude is just chock full of great ideas searching for problems. Or was that just chock full of problems?

Fark user imageView Full Size
 
2023-01-30 10:11:01 PM  
Fark user imageView Full Size
 
2023-01-30 11:02:59 PM  
Time to prime the pump again! Gotta fleece the rubes!
 
2023-01-30 11:28:05 PM  
We've seen this pump and dump bullshiat from you before, Elmo. Get some new material.
 
2023-01-30 11:36:37 PM  
Well, this seems like a stable platform. Let me give them my financial info.
 
2023-01-30 11:42:03 PM  
Man, Peter Thiel has this guy running around like a jackass.
 
2023-01-31 12:27:47 AM  
I wonder if the people suing him for not paying rent on Twitter's offices take Bitcoin...
 
2023-01-31 12:44:10 AM  
Oh look, another company ready to take all your money and then go out of business.
 
2023-01-31 12:49:57 AM  

Scorpitron is reduced to a thin red paste: Man, Peter Thiel has this guy running around like a jackass.


Palantir just wants the data. They're three years beyond what OpenAI is doing right now.
Their main purpose is to provide law enforcement and defense intelligence with assessments of possible threats.
Consider what they could do by profiling individuals with just their raw posts, likes, and retweets from twitter. The vitriol on that site is disgusting.

...
Just as a thought experiment.
Consider what Palantir will do with the Fark database? Drew doesn't even need to sell it. Every comment thread is easily found via google.
They can profile every username based on their commenting habits. Funnys, smarts, whether they engage with war or law enforcement threads. Etc etc.
Palantir will take that information, and correlate it with IP addresses, then assess other social media accounts to connect the individual to multiple accounts. Reddit, Instagram, Facebook, Tiktok, you name it.
Won't matter if folks use multiple email accounts.

This is what Palantir is designed to do.
To identify and assess threats. And while the vast majority of us aren't a threat. ALL of us will be caught up in the data harvest, and we are being profiled.
 
2023-01-31 4:41:23 AM  
Giving Elon Musk all that personal power over individuals (since he runs Twitter by targeting individuals and ignoring whoever he's never heard of), is absolutely a reason to have a civil war. In each country that allows Twitter to become a payment system. Everyone has to just NOPE out of even allowing that to be considered.
 
2023-01-31 4:42:53 AM  
In October, after Musk assumed the CEO position at Twitter, Caitlin Long, the founder and CEO of crypto-focused Custodia Bank, told Fortune that Musk's long-term goal is to disrupt the payments industry.
"He's been trying to disintermediate ACH his whole career," she said, speaking about the electronic transfer system used by banks.

NO! It's just dumb!
 
2023-01-31 4:49:51 AM  
I'll pay for stuff with fake money all day. Hell, open it up so I can do the same with Amazon.
 
2023-01-31 4:51:57 AM  
So he got kicked out of PayPal for being Elmo and now he's back to trying again.....

Fark user imageView Full Size
 
2023-01-31 5:05:03 AM  
Everything app is code for this tiered subscription-based internet access with various levels of restriction and 95% of people won't be able to afford the top tiers.

It's technoclassism© and they're going to pay-wall the 95% out of all internet-based technology.

But that's after they price personal transportation vehicles outside the reach of everyone.  You'll have to take Uber or Lyfts to get to work and it'll cost $420 per ride.

[technoclassism was coined by Fark.com user mistahtom]
 
2023-01-31 5:58:14 AM  

Joe USer: Well, this seems like a stable platform. Let me give them my financial info.


i.imgflip.comView Full Size
 
2023-01-31 6:54:06 AM  
Wait - crypto is still a thing?
 
2023-01-31 7:01:59 AM  

Redh8t: This is what Palantir is designed to do.
To identify and assess threats. And while the vast majority of us aren't a threat. ALL of us will be caught up in the data harvest, and we are being profiled.


We are all *potential* threats. Don't you want safety, citizen?
 
2023-01-31 7:10:13 AM  
Another Elon Musk article? it's like FARK is in love with this guy.
 
2023-01-31 7:24:35 AM  
He's in a race against Nostr. They've already incorporated this. And given they are decentralized, they just..... do. No need to ask for big daddy government for permission. No government requests to suppress posts.....good stuff coming down the pipe line. But he won't be able to compete having to continually beg to be allowed to do anything.
 
2023-01-31 7:26:39 AM  

Mr. Tweedy: Wait - crypto is still a thing?


They're trying still. There have got to be some more rubes out there if they just keep talking about it.
 
2023-01-31 8:16:38 AM  
He's taken a publicly-traded company and reverted it to a scrappy startup with a bad idea.  Such genius.  Wow.
 
2023-01-31 8:25:48 AM  
Why is he even trying to make money with twitter? He said he bought it to save free speech, the guy should really be forever bankrolling the entire thing personally. Or will free speech die unless it makes money?
 
2023-01-31 8:26:17 AM  

tricycleracer: He's taken a publicly-traded company and reverted it to a scrappy startup with a bad idea.  Such genius.  Wow.


I wants to relive his high school days when he ran for 4 touchdowns in one game and recreate another Paypal but one that supports Crypto.  The problem for Musk is that Paypal has a bit of competition now and the market is saturated.
 
2023-01-31 8:31:03 AM  

AsparagusFTW: He's in a race against Nostr. They've already incorporated this. And given they are decentralized, they just..... do. No need to ask for big daddy government for permission. No government requests to suppress posts.....good stuff coming down the pipe line. But he won't be able to compete having to continually beg to be allowed to do anything.


Of course, due to technical limitations their network can only support one new tweet (or "cosa nostra" as they're known) every ten minutes.
 
2023-01-31 8:33:58 AM  
Good.  Once crypto is taken in as many places as a dollar, it will easily be worth as much as a dollar.  Then I'll be rich!
 
2023-01-31 9:02:46 AM  

HotWingConspiracy: Why is he even trying to make money with twitter? He said he bought it to save free speech, the guy should really be forever bankrolling the entire thing personally. Or will free speech die unless it makes money?


Freedom isn't free!!!
 
2023-01-31 9:11:53 AM  

Mr. Tweedy: Wait - crypto is still a thing?


Yup
 
2023-01-31 9:25:43 AM  
"Disrupt" means "I'm too lazy to figure out how this business works, and too self important to follow the rules."
 
2023-01-31 9:48:58 AM  
I'm looking forward to handing my credit card to a guy who hasn't paid his rent in months.
 
2023-01-31 9:52:38 AM  

Rob3Fan: I'm looking forward to handing my credit card to a guy who hasn't paid his rent in months.


This is likely why he wants to switch to crypto.  Unregulated crypto banks can seize your money whenever they coins.  It's in the contract.

That's why you need to put your coins in a Trezor Hard Mattress.  It's the future.
 
2023-01-31 10:08:46 AM  

kdawg7736: Another Elon Musk article? it's like FARK is in love with this guy.


More whining about Musk coverage? It's like weaksauce white supremacists were oversensitive to criticism of their aparthied cuck-pimp.
 
2023-01-31 10:10:25 AM  

pearls before swine: "Disrupt" means "I'm too lazy to figure out how this business works, and too self important to follow the rules."


It's pretty hilarious to even hear someone using the term in a positive, unironic context in 2022.
 
2023-01-31 10:14:01 AM  
I have to wonder how many people using twitter "own" any crypto, and out of that pool, how many are looking to spend it instead of just holding it until it hits a number that they are comfortable offloading it on to some other bag holder.

I don't get who this is for, who is asking for this?
 
2023-01-31 10:14:43 AM  
I believe in Elon's ability to dream up a solution to a problem that was solved in 1996 and then dump money at it
 
2023-01-31 10:15:21 AM  

HotWingConspiracy: I have to wonder how many people using twitter "own" any crypto, and out of that pool, how many are looking to spend it instead of just holding it until it hits a number that they are comfortable offloading it on to some other bag holder.

I don't get who this is for, who is asking for this?


Dude, it's got crypto in it.  Web3!  I'm writing a check right now, and I don't even know why!
 
2023-01-31 10:16:38 AM  

Lsherm: Time to prime the pump again! Gotta fleece the rubes!


"People don't know this, but I coined the phrase 'Prime the pump'."

- George Santos
 
2023-01-31 10:21:12 AM  

AsparagusFTW: He's in a race against Nostr.


More like NoSir.
 
2023-01-31 10:28:19 AM  
All the best ideas from this turd.
 
2023-01-31 10:54:01 AM  

wraith95: In October, after Musk assumed the CEO position at Twitter, Caitlin Long, the founder and CEO of crypto-focused Custodia Bank, told Fortune that Musk's long-term goal is to disrupt the payments industry.
"He's been trying to disintermediate ACH his whole career," she said, speaking about the electronic transfer system used by banks.

NO! It's just dumb!


I was wondering, ACH is already incredibly efficient and practically free, and I assumed PayPal and similar services (Venmo, CashApp etc) interfaced with those on the back end. Is that not how they work?
 
2023-01-31 11:22:44 AM  

jso2897: kdawg7736: Another Elon Musk article? it's like FARK is in love with this guy.

More whining about Musk coverage? It's like weaksauce white supremacists were oversensitive to criticism of their aparthied cuck-pimp.


The nerve of this guy. Next he's going to suggest you take down all of the yellowing Elon Musk news articles from your living room wall. The red strings attaching them together would be a pain to remove. Just don't listen to him.
 
2023-01-31 12:16:09 PM  

Karne: jso2897: kdawg7736: Another Elon Musk article? it's like FARK is in love with this guy.

More whining about Musk coverage? It's like weaksauce white supremacists were oversensitive to criticism of their aparthied cuck-pimp.

The nerve of this guy. Next he's going to suggest you take down all of the yellowing Elon Musk news articles from your living room wall. The red strings attaching them together would be a pain to remove. Just don't listen to him.


You always show in Musk threads.  People critical of Musk are living rent free in your head.
 
2023-01-31 12:59:58 PM  

ArkAngel: I wonder if the people suing him for not paying rent on Twitter's offices take Bitcoin...


Elmo is  Dogecoin whale. He went on SNL to pump and dump and failed
 
2023-01-31 3:16:47 PM  

Muta: Karne: jso2897: kdawg7736: Another Elon Musk article? it's like FARK is in love with this guy.

More whining about Musk coverage? It's like weaksauce white supremacists were oversensitive to criticism of their aparthied cuck-pimp.

The nerve of this guy. Next he's going to suggest you take down all of the yellowing Elon Musk news articles from your living room wall. The red strings attaching them together would be a pain to remove. Just don't listen to him.

You always show in Musk threads.  People critical of Musk are living rent free in your head.


Better than crying about every move a random billionaire makes.
Even if Musk disappeared today, your life would still be sad, you just wouldn't have someone to blame it on.
 
2023-01-31 5:00:34 PM  

Karne: Muta: Karne: jso2897: kdawg7736: Another Elon Musk article? it's like FARK is in love with this guy.

More whining about Musk coverage? It's like weaksauce white supremacists were oversensitive to criticism of their aparthied cuck-pimp.

The nerve of this guy. Next he's going to suggest you take down all of the yellowing Elon Musk news articles from your living room wall. The red strings attaching them together would be a pain to remove. Just don't listen to him.

You always show in Musk threads.  People critical of Musk are living rent free in your head.

Better than crying about every move a random billionaire makes.
Even if Musk disappeared today, your life would still be sad, you just wouldn't have someone to blame it on.


pbs.twimg.comView Full Size
 
2023-01-31 6:58:58 PM  
Another Elon Musk article? it's like FARK is in love with this guy.

Well, he IS the world's greatest genius
 
2023-01-31 7:18:12 PM  

Karne: Better than crying about every move a random billionaire makes.
Even if Musk disappeared today, your life would still be sad, you just wouldn't have someone to blame it on.


Now that he's not #1, he's just "a random billionaire"?

Do we need to submit some Bernard Arnault threads for balance?
 
2023-01-31 9:24:43 PM  

E_Henry_Thripshaws_Disease: Another Elon Musk article? it's like FARK is in love with this guy.

Well, he IS the world's greatest genius


skewsme.comView Full Size
 
2023-02-01 12:05:55 AM  

Arkanaut: wraith95: In October, after Musk assumed the CEO position at Twitter, Caitlin Long, the founder and CEO of crypto-focused Custodia Bank, told Fortune that Musk's long-term goal is to disrupt the payments industry.
"He's been trying to disintermediate ACH his whole career," she said, speaking about the electronic transfer system used by banks.

NO! It's just dumb!

I was wondering, ACH is already incredibly efficient and

practically free, and I assumed PayPal and similar services (Venmo, CashApp etc) interfaced with those on the back end. Is that not how they work?

I bolded the problem with ACH for you. Elmo doesn't make any money on it.
 
2023-02-01 12:21:37 AM  

Arkanaut: wraith95: In October, after Musk assumed the CEO position at Twitter, Caitlin Long, the founder and CEO of crypto-focused Custodia Bank, told Fortune that Musk's long-term goal is to disrupt the payments industry.
"He's been trying to disintermediate ACH his whole career," she said, speaking about the electronic transfer system used by banks.

NO! It's just dumb!

I was wondering, ACH is already incredibly efficient and practically free, and I assumed PayPal and similar services (Venmo, CashApp etc) interfaced with those on the back end. Is that not how they work?


I take it you haven't seen Glass Onion? I had no idea that sentence actually meant something. Although a brief look into into makes it seem like it doesn't, like trying to remove the lungs from the oxygen absorption process.
 
2023-02-01 4:14:27 AM  

wraith95: Arkanaut: wraith95: In October, after Musk assumed the CEO position at Twitter, Caitlin Long, the founder and CEO of crypto-focused Custodia Bank, told Fortune that Musk's long-term goal is to disrupt the payments industry.
"He's been trying to disintermediate ACH his whole career," she said, speaking about the electronic transfer system used by banks.

NO! It's just dumb!

I was wondering, ACH is already incredibly efficient and practically free, and I assumed PayPal and similar services (Venmo, CashApp etc) interfaced with those on the back end. Is that not how they work?

I take it you haven't seen Glass Onion? I had no idea that sentence actually meant something. Although a brief look into into makes it seem like it doesn't, like trying to remove the lungs from the oxygen absorption process.


It does mean "something", but that's essentially that Musk thinks he can replace a fifty+ year old heavily regulated backbone of the banking industry with dank memes and blockchaining harder than anyone has ever blockchained before.
 
Displayed 50 of 50 comments

View Voting Results: Smartest and Funniest

This thread is closed to new comments.

Continue Farking




On Twitter


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.