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Recent Survey Reveals Twitter’s Top Users Are Posting Less Since Musk Takeover

By
Ojukwu Emmanuel
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0

A recent survey by Pew Research Center has revealed that Twitter’s top users have been posting less since Musk took over as the CEO of the micro-blogging company.

The Center’s new analysis of actual behavior on the site discovered that the most active users before Musk’s acquisition, defined as the top 20% by tweet volume, have seen a noticeable posting decline. These users’ average number of tweets per month declined by around 25% following Musk’s acquisition.

In the U.S. about six in ten who have used Twitter in the past year said they have recently taken breaks from the platform, and a quarter of the users disclosed that they will not use Twitter a year from now.

On average, adult Twitter users in the U.S. mentioned Musk in a tweet just once between Jan. 1 and April 13, 2022, before he announced his intention to acquire the platform. On the other hand, eight in ten of the most active adult Twitter users between Jan. 1 and April 14, 2022, have remained among the most active users in the months after Musk formally acquired the site in October 2022.

Recall that in November 2022, an analysis of Twitter accounts suggested that more than a million users left the platform in the week following Elon Musk’s takeover.

The firm Bot Sentinel, which tracks inauthentic behavior on Twitter by analyzing more than 3.1 million accounts and their activity daily, found that 11,535 accounts they were monitoring had been deactivated.

Elon Musk’s approach to managing Twitter since buying it has been as unpredictable as he has been carrying out a series of revamps on the social media platform. During his takeover of the company, Musk has downsized a huge percentage of the platform staff, floated a change to user verification, and is reportedly considering a number of moves that would represent a widespread overhaul of the service if carried out.

Also, his series of revamps have seen several companies which includes Audi, Volkswagen, and Pfizer suspend advertising on the platform over concerns about Musk’s content moderation plans. 

The number of global monthly users is predicted to fall by nearly 4% next year and 5% in 2024 more than 32 million in total in the first annual declines forecast by the market research agency Insider Intelligence since it began tracking the social media platform in 2008.

Following his reign as the CEO of the company, Elon Musk promised he would resign as Twitter’s chief executive when he finds someone “foolish enough to take the job”. The decision came after he promised to abide by the result of a Twitter poll which saw a massive amount of users vote ‘yes’ to him quitting the role. 

In a recent development, he has announced a new Twitter CEO Linda Yaccarino just six months after his controversial takeover of the social media company. Hopefully, her reign will lead to an increase in the engagement of Twitter users.

Details of Central Bank of Nigeria Pre-Shipment Inspection Agent (PIA) Portal Deployment Notice

By
Emmanuel Ifeanyi Ogbuka
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0

The Central Bank of Nigeria (CBN) on the 15th of February,2023, released a notice on the deployment of the PIA portal to not only Pre-Shipment Inspection Agents (PIAs), but Monitoring and Evaluation agents (MEAs) , Authorized dealers, The Nigerian Customs Service (NCS), exporters and the general public. This article will be focused on the provisions of this notice which are as follows :-

– All PCIs/CCIs shall be electronically generated in the Stakeholder Verification Portal (SVP) from March 1,2023.

– All authorized dealers are required to ensure that :-

a). The processing of PCIs/CCIs by PIAs will be carried out on the SVP.

b). Exporters complete the Request For Information (RFI) form in accordance with the provisions of extant regulations via a link generated and sent via email by the SVP.

c). Exporters are to pay the NESS levy advised by PIAs on the PCIs/CCIs documents.

d). All e-NXPs established from March 1, 2023 are to be accompanied by electronic PCIs/CCIs.

e). All NXPs opened before March 1,2023 for which shipment has not taken place nor CCIs issued would also follow the new process.

f). All authorized dealer banks are enjoined to inform their customers on the provisions of the deployment directions for compliance.

Google to Delete Inactive Accounts Starting December

By
Samuel Nwite
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0

Google said Tuesday it’s deleting accounts that have been inactive for two years, as part of efforts to curtail security risks they pose to its user base.

Starting in December this year, Google may delete an account if it has not accessed any of its variety of services for two years, the company wrote in a blog post.

The US-based tech giant, which hosts billions of accounts across its platforms, said accounts that have not been used for an extended period of time, are more likely to be compromised, weakening existing security measures.

“This is because forgotten or unattended accounts often rely on old or re-used passwords that may have been compromised, haven’t had two factor authentication set up, and receive fewer security checks by the user,” Google said in a blog post.

The move follows the recent announcement by Twitter CEO Elon Musk to purge the social media platform of accounts that have not been in use for long. But while Musk’s decision is understood to be about reducing spam, Google said it is taking the step to assuage security concerns that arise due to dormant accounts.

“Our internal analysis shows abandoned accounts are at least 10x less likely than active accounts to have 2-step-verification set up. Meaning, these accounts are often vulnerable, and once an account is compromised, it can be used for anything from identity theft to a vector for unwanted or even malicious content, like spam,” the company wrote in the blog post

The policy only applies to personal Google Accounts, and will not affect accounts for organizations like schools or businesses, Google said, adding that as part of the account deletion, it will also remove content the user has stored in Google Workspace, YouTube and Google Photos.

Google said that it will send multiple notifications over the months leading up to deletion of an account and start the purge with those that were created and never used again. The new inactivity policy also will not affect business accounts and those used by schools, Google said.

To keep your account active, Google said you should engage in activities such as reading or sending an email, using Google Drive, watching a YouTube video, downloading an app from the Google Play Store, signing in to a third-party app or service with a Google account or conducting a Google search while signed in, at least once in two years.

The plan will take a phased approach, starting with accounts that were created and never used again. Google said the policy will not immediately impact users with an inactive account. The company didn’t say whether it plans to recycle usernames of the affected accounts.

Pakistan Announces Ban on Crypto and Blockchain Related Activities

By
Paul Ugbede Godwin
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0

Pakistan has recently announced its decision to ban cryptocurrency services and trading in the country, citing the need to prevent illegal digital currency transactions and comply with the Financial Action Task Force (FATF) conditions.The ban was partly in response to concerns over terrorism financing and money laundering, as Pakistan currently faces an economic crisis with high inflation and a growing debt burden.

The ban was announced by Minister of State for Finance and Revenue Aisha Ghaus Pasha, who said that cryptocurrencies will never be legalized in Pakistan. She said that the State Bank of Pakistan (SBP) and the Ministry of IT & Telecom have started work to block cryptocurrency services and websites dealing with the instrument in Pakistan. The Senate Committee on Finance also directed authorities to prohibit the use of cryptocurrencies in Pakistan.

The ban has sparked mixed reactions from the crypto community and the general public. Some have welcomed the move as a necessary step to protect the country’s financial system and national security, while others have criticized it as a backward and oppressive measure that stifles innovation and freedom.

According to some experts, the ban will have a negative impact on the country’s economy and society, as it will deprive people of an alternative and decentralized form of money that can hedge against inflation and currency devaluation. Pakistan’s rupee has slid 3.3% to an all-time low against the dollar of 300 per greenback last week, amid political turmoil and corruption allegations against former Prime Minister Imran Khan.

Moreover, the ban will also affect the growing number of crypto enthusiasts and investors in Pakistan, who have been using digital currencies as a way to access global markets and opportunities. According to Zeeshan Ahmed, country general manager at Rain Financial, a Gulf-based trading platform for cryptocurrencies, the annual trading volume for Pakistan-based wallets has gone up to $25 billion, up from $18 billion to $20 billion a year ago.

The ban will also hamper the development of the crypto industry and ecosystem in Pakistan, which has seen some promising initiatives and projects in recent years. For example, PakCoin, a local cryptocurrency launched in 2015, claims to have over 100,000 users and merchants across the country. Another example is Urdubit, Pakistan’s first bitcoin exchange, which was founded in 2014 and shut down in 2018 due to regulatory uncertainty.

The crypto ban in Pakistan is not a new phenomenon, as the country has been issuing warnings and restrictions on digital currencies since 2015. However, the latest announcement seems to be more definitive and sweeping than before, leaving little room for hope or compromise. The crypto community in Pakistan is now facing a dilemma: whether to comply with the ban and risk losing their assets and opportunities, or to defy it and risk facing legal consequences and penalties.

How Bitcoin Pizza Came into Existence

By
Paul Ugbede Godwin
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0

Bitcoin is a revolutionary digital currency that has changed the way people transact and store value. But do you know how it all started? One of the most iconic events in Bitcoin’s history is the Bitcoin Pizza Day, which marks the first time someone used Bitcoin to buy a real-world good.

Bitcoin Pizza Day is a reminder of how far Bitcoin has come from its humble beginnings to its current status as a global phenomenon. It is also a celebration of the innovation and creativity of the Bitcoin community, which continues to push the boundaries of what is possible with this technology.

The story goes back to May 22, 2010, when a Florida programmer named Laszlo Hanyecz posted on a Bitcoin forum that he was willing to pay 10,000 bitcoins for two pizzas delivered to his house. He wrote: “I’ll pay 10,000 bitcoins for a couple of pizzas… like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later.”

At that time, Bitcoin was still a new and obscure technology, with no established market value or widespread adoption. Hanyecz had mined some bitcoins on his computer, but he had no idea what to do with them. He thought it would be cool to exchange them for something tangible, like food.

Luckily, someone took up his offer and agreed to order two pizzas from Papa John’s and deliver them to Hanyecz in exchange for 10,000 bitcoins. The pizzas cost about $30, which means Hanyecz paid around $0.003 per bitcoin. The person who accepted the deal was a British man named Jeremy Sturdivant, who went by the nickname “jercos” on the forum.

The transaction was completed and Hanyecz posted a picture of the pizzas on the forum, confirming that he had received them. He wrote: “I just want to report that I successfully traded 10,000 bitcoins for pizza. Thanks jercos!”

The event was recorded on the Bitcoin blockchain as transaction hash ID a1075db55d416d3ca199f55b6084e2115b9345e16c5cf302fc80e9d5fbf5d48d.

Little did Hanyecz know that his pizza order would go down in history as the first documented case of Bitcoin being used to purchase a physical good. The day of the transaction, May 22, is now celebrated as Bitcoin Pizza Day by the Bitcoin community around the world.

The significance of Bitcoin Pizza Day is not only that it demonstrated the potential of Bitcoin as a medium of exchange, but also that it showed how much Bitcoin has appreciated in value over time. The 10,000 bitcoins that Hanyecz spent on the pizzas are now worth over $200 million at the current market price of around $20,000 per bitcoin.

The value of the 10,000 bitcoins used in the transaction has also skyrocketed over time, reaching hundreds of millions of dollars at current prices. This makes the pizzas arguably the most expensive ones ever bought in history. However, Hanyecz does not regret his decision and has said that he enjoyed the pizzas and was happy to be part of the early days of bitcoin.

That means Hanyecz paid about $10 million per pizza, making them the most expensive pizzas ever bought. Of course, Hanyecz did not regret his decision, as he later said: “It wasn’t like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool.”

The bitcoin pizza transaction has become part of the folklore of cryptocurrency and is celebrated every year on May 22 as Bitcoin Pizza Day. On this day, bitcoin enthusiasts around the world commemorate the event by buying goods (often pizza) with bitcoin or other cryptocurrencies. Some also use the occasion to reflect on how far bitcoin has come since its inception and how much potential it still has.

The bitcoin pizza transaction may seem trivial today, but it was a milestone in the history of cryptocurrency. It demonstrated that bitcoin could be used as a medium of exchange for goods and services, not just as a store of value or a speculative asset. It also showed that bitcoin could facilitate cross-border transactions without intermediaries or fees. Moreover, it inspired other people to experiment with using bitcoin for everyday purchases and created a sense of community among early adopters.

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