Bitcoin is the most mentioned term related to innovative value transfer systems, data from social media on the topic of payment and fintech, reveals. BTC received 957 mentions in December, as the coin wrapped up a stunning decade of price appreciation.
Analysis of social media activity by GlobalData revealed Ethereum was also an often-mentioned term, with 158 mentions in December. The coin is not as prominent itself but has become the basis for a wider system of tokens and payment channels. The analysis reveals the crypto space has become an integral part of a boom in payment service and fintech expansion.
The decade ahead is one anticipated to be swept with technological disruption, the way we #pay for things makes no exception. GlobalData has forecast which #Countries will most likely be the #leaders in moving towards a truly #cashless #society https://t.co/xyy0xoqzMO
— GlobalData Banking (@Banking_GD) January 13, 2020
Tweets and mentions of BTC are often related to price action and predictions. In 2019, this was also the leading coin, with a robust 92% net gain, explaining the active discussion. Over the past year, BTC also dominated the market in terms of overall capitalization and brought more attention to itself with new futures and options platform launches.
Cryptocurrency is also an often-mentioned term, with 809 mentions in December. According to analysis, a boost to mentions came from the ShapeShift and Coinbase Twitter handles, stressing the possibilities for safer transactions.
Cryptocurrency, Blockchain Still in Vogue
Crypto and cryptocurrencies were the second most mentioned terms during December. Improved security for trading digital currencies was highlighted in tweets by digital currency trading platforms ShapeShift and Coinbase that came up with new features to safely transact using cryptocurrencies. Overall, cryptocurrency was mentioned 809 times on social media.
.@YouTube just removed most of my crypto videos citing “harmful or dangerous content” and “sale of regulated goods”… it’s been 10 years of making videos, 200k+ subs, and 7M+ views. WTF are you guys doing @TeamYouTube?! pic.twitter.com/MPcKbBVrC4
— Chris Dunn (@ChrisDunnTV) December 23, 2019
Blockchain was still one of the hot terms, mentioned in relation to venture capital. Blockchain is viewed as the more harmless term, possibly allowing the usage of the technology without adopting a disruptive stance to money or finance. Active mentions come on the tail of increased venture capital investments in the space, from $2 million in 2012 to as much as $2.5 billion in 2019, as noted by Bitcoin supporter Jameson Lopp.
Fintech was also a breakaway topic, with 381 mentions. The sector expects expansion and adaptation in 2020, as fund inflows to this space grew in the last few months of 2019. Mentions of fintech were tied up with relations to AI, machine learning, blockchain, as well as 5G, cybersecurity, and Chinese fintech ecosystems.
In 2020, the expectations are for regulations to become clearer and more transparent, as the sector sheds most of its fly-by-night projects. Regulators constantly adapt to new inventions in the space, moving in to either codify or ban some activities. Regulations in the EU tend to focus on money-laundering and terrorist financing. The US Securities and Exchange Commission looks into IEO token sales, with a critical eye on breaking securities law.
What do you think about the prominence of Bitcoin in social media mentions? Share your thoughts in the comments section below!
Images via Shutterstock, Twitter: @Banking_GD, @ChrisDunnTV
Elon Musk’s Team Asks for More Data to Complete Assessment of Twitter Bots
Okay, let’s just check in on the latest with the Twitter/Elon Musk takeover saga, and where things are placed to close out the week.
According to the latest reports, Musk’s team recently asked Twitter for more tweet info, in order to help it make an accurate assessment of bot activity in the app. This comes after Musk questioned Twitter’s claim that bots and fake accounts make up only 5% of its active user base, and said that his Twitter takeover deal could not go ahead unless Twitter could produce more evidence to support this figure.
Which Twitter did, by providing Musk with access to its ‘full firehose’ of tweets over a given period, which it shared with Musk’s team back on June 8th. Musk’s group has now had that data for a couple of weeks, but this week, it said that this info is not enough to go on, and that it needs even more insight from Twitter to make its judgment.
And after initially resisting calls for more data access, Twitter has now reportedly relented and handed over more tweet data access to Musk’s team.
Which may or may not be a concern, depending on how you see it.
In its initial data dump, Twitter reportedly gave Musk’s team info on:
- Total user tweets (within a given time period)
- Data on which devices were used
As noted, Musk’s team says that this has not provided it with the insight that it needs to conduct an accurate analysis of potential bot activity, so Twitter has now provided Musk with more ‘real-time API data’.
It’s not clear whether that means that Twitter has provided everything that its API systems can provide, but that could mean that Musk’s team can now access:
- Real-time info on tweet text and visual elements/attachments
- Data on retweets, replies, and quote Tweets for each
- Data on tweet author, mentioned users, tagged locations, hashtag and cashtag symbols, etc
- Date, time, location, device info
That should satisfy any analytical needs to uncover potential bot trends, and get a better handle on Twitter’s bot problem, though it also means that Musk has all your tweet info – which, again, it’s worth noting, Twitter up till now had been hesitant to provide.
I’m sure it’s fine. Musk’s team is beholden to disclosure laws around such, so it’s not like they can do anything much with that info anyway, in a legal sense. But the idea that the sometimes erratic Elon Musk now has all the tweets could be a little concerning for some.
But Twitter likely had to provide what it can, and if Musk is going to become CEO of the app soon anyway, he’s going to have access to all of that data either way.
Should be fine. No problems – no need to go deleting all your DMs (which are likely not included in the data that Twitter has provided at this stage).
According to reports, Musk’s team says that it now has the info it needs to make its assessment of bot activity, which should see the deal move forward (or not) sometime soon.
Of course, no one knows what exactly is going to happen next, and whether Musk’s team will look to renegotiate, or even back out of the deal entirely as a result of its bot analysis. But it does seem like, one way or another, Musk will be forced to go ahead with the $44 billion transaction, with Twitter’s past bot reporting methodology already accepted by the SEC, giving it legal grounding to argue that it’s acted in good faith, regardless of what Musk’s team finds.
The next steps then, according to Musk, would be securing debt financing and gaining Twitter shareholder approval, clearing the last hurdles for Musk to change the app’s name to ‘Telsla Social’, and add a million references to ‘420’ into the platforms various terms and conditions.
Because of the memes, because weed jokes are still funny to the richest man in the world – because he vacillates between inspired genius and a massive nerd who now gets to play out some fantasy of being cool.
Or something. Who knows what goes on in Elon Musk’s head – which is also why most are hesitant to bet against him, as nobody knows if and how he might be able to fix Twitter, and whether this is a great investment or a massive disaster.
It seems like we may soon find out. Maybe. Who knows. Either way, the memes should be great.
Elon Musk’s Team Asks for More Data to Complete Assessment of Twitter Bots
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