Twitter User Exodus Could Threaten Crypto Twitter’s Diversity of Ideas
• Insider Intelligence predicts Twitter will lose 30 million users over the next two years, leading to a decrease in real human engagement.
• Crypto Twitter, a community of crypto enthusiasts, critics, meme propagators, NFT creators, and coin-pumpers, will likely see some exits as a result.
• After these departures, what will the Crypto Twitter community look like in terms of its diversity of ideas?
The social media platform Twitter is facing potential declines in its user base in the coming years. Insider Intelligence recently predicted that the platform could see losses of up to 30 million users over the next two years. This would lead to a decrease in real human engagement, as the smaller community makes the site less attractive, leading to more departures in a negative feedback loop.
One community that is likely to be affected by these departures is Crypto Twitter, also known as CT. This is the community of crypto enthusiasts, critics, meme propagators, NFT creators, and coin-pumpers that regularly use the platform to discuss issues and hash out differences. The departures of those users could potentially have a significant impact on the diversity of ideas within the CT community.
In particular, it is likely that those users who are considering leaving Twitter – some of whom are calling for a mass “Twixit” event – are different in their political and ideological persuasions from those adamant on staying. These leavers likely skew toward a more liberal political bent, as many have expressed discomfort with a reported increase in anti-semitic and racist slurs as Elon Musk has adjusted the moderation policies of the platform.
The issue is further compounded by the fact that Twitter has become an increasingly important forum for discussing cryptocurrency-related topics. As such, the potential decrease in user numbers could lead to a decrease in the diversity of views expressed, as well as a decrease in the ability of the CT community to hash out differences and discuss industry issues.
Given the potential consequences, it is essential that the CT community as well as the wider crypto industry keep an eye on the situation and prepare for the potential losses that could be incurred in the near future. It is also important to ensure that the platform remains open to diverse voices, regardless of the possible user exodus.