Twitter-X secures license for crypto payments and tradingX, the platform once known as Twitter, is introducing a bold strategy to curb the infiltration of disruptive elements such as spam and bot accounts. Starting in New Zealand and the Philippines, the company unveiled a subscription-based approach named “Not A Bot” on October 17. This initiative imposes a $1 fee on new users, designed to increase revenue and simultaneously ensure user authenticity.
The rationale behind this charge is straightforward. By imposing a financial barrier, X aims to deter the mass creation of fake accounts, often used for misleading or fraudulent activities. Existing users, however, will face no such charge, safeguarding the platform’s current community from any unexpected expenses.
Moreover, the strategy extends beyond simple economics. The procedure mandates phone verification for new accounts in these test regions to further authenticate user identity. Upon completing these steps, subscribers gain full access to X’s suite of features, including posting and interacting with other posts. Conversely, non-paying individuals are restricted to viewing content without any interaction privileges.
However, the crypto community, notably vocal on X, questions the effectiveness of these measures. Prominent voices like ZachXBT and ChainLinkGod highlight an ironic twist: numerous bots have already bypassed system checks, acquiring verified status on the platform. CryptoQuant co-founder Ki Young Ju echoes these concerns, suggesting that the nominal fee is insufficient to deter scammers drawn by high potential returns in the crypto realm.
Additionally, users identified a critical flaw in the platform’s spam defense mechanism, as explained by an ethical hacker known as ‘banteg’. The current system misclassifies spam as ‘sensitive content’, resulting in inaction on genuine reports of misleading or harmful conduct. This revelation underscores the need for a more robust verification system, a sentiment supported by ongoing user feedback.
Critics also argue that the regional pricing strategy needs to be revised, considering the global nature of digital scams. They note that perpetrators often use VPNs and other methods to mask their true locations, rendering geographical countermeasures ineffective.
Elon Musk, the current owner, acknowledged these challenges, proposing more stringent measures like ID verification or KYC protocols. Despite these advanced suggestions, the community remains skeptical about the “Not A Bot” program’s potential impact, especially on genuine prospective users.
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