Twitter could lose 30 million users

Is this the end of Crypto Twitter?
| Cryptopress
Last updated: December 23, 2022

JUAN MENDE

As more and more people use social media to get information and talk to each other, platforms like Twitter have become important parts of our daily lives. But a new report says that Twitter could be about to lose a lot of its users.

A recent study by the research company Insider Intelligence says that Twitter could lose as many as 30 million users in the next year. The report points to a number of things that could be causing this drop, such as the rise of new social media platforms, the growing popularity of private messaging apps, and the growing trend of people moving away from public social media profiles.

The rise of decentralized social media platforms is one of the main things that could cause this possible decline. These platforms, which are often built on blockchain technology, offer users more control over their data and privacy, as well as a greater ability to monetize their content. As more people become aware of these alternative options, it’s possible that they will begin to migrate away from traditional social media platforms like Twitter.

Another thing that could be hurting Twitter is that more and more people are using private messaging apps. These apps, which are often more secure and offer more privacy than public social media platforms, are becoming increasingly popular as people look for more private ways to communicate and share information. As a result, it’s possible that more users will turn to these apps rather than using Twitter for their social media needs.

Finally, the trend of users shifting away from public social media profiles could also play a role in Twitter’s potential decline. As people worry more about their privacy online, they may be more likely to turn off their public profiles or switch to platforms that are more private. This could lead to a decline in Twitter’s user base as fewer people are using the platform to share their thoughts and experiences.

Twixit leavers and stayers

It seems that the changes implemented by Elon Musk as the new CEO of Twitter are causing some users to consider leaving the platform. This group, called “Twixit leavers,” may have a more liberal view of politics and has said it doesn’t like how there seems to be more hate speech on the platform. They may also be upset about the suspension of journalists’ accounts and the mass layoffs under Musk’s leadership, which have caused concern about security breaches.

On the other hand, there are those who are enthusiastic about the new direction of Twitter under Musk and are committed to staying on the platform. Most of these “Twixit remainers” agree with Musk’s goal of promoting free speech and getting rid of political bias in content moderation. Many of them say that they are “anti-woke” and are worried about speech restrictions they think liberals are putting in place. They may also agree with Silicon Valley tech leaders that the mainstream media is not a reliable source of information and that “citizen journalism” on Twitter is a better way to get news. There are likely to be a lot of libertarians in this group. Libertarians believe that people should have the right to their own property and are skeptical of government intervention and surveillance.

It’s worth noting that these divisions are not unique to Twitter and can be found within the community of cryptocurrency enthusiasts as well. Despite being portrayed as a homogenous group of lawless, money-obsessed “crypto bros,” the reality is that the people interested in cryptocurrency come from a wide range of backgrounds and hold a variety of political beliefs. The open-relay protocol Nostr, which is working to build a censorship-resistant social network with the help of former Twitter CEO Jack Dorsey, and the social media platform Mastodon are gaining popularity as possible alternatives for people who want a more crypto-friendly environment.

Overall, it’s clear that Twitter is facing a number of challenges that could potentially lead to a decline in its user base. Even though it’s impossible to know exactly how many users the platform will lose, it’s clear that it will need to change and adapt to stay relevant in a social media world that’s getting more crowded and competitive.

Cover: Yuri on Pixabay

© 2022 Cryptopress. For informational purposes only, not offered as advice of any kind.

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