Home / Archive / Trump Invites Crypto Firm to Social Media Summit, Snubs Facebook

Trump Invites Crypto Firm to Social Media Summit, Snubs Facebook

Last Updated March 4, 2021 2:37 PM
P. H. Madore
Last Updated March 4, 2021 2:37 PM

Minds.com CEO Bill Ottman received an invite to President Trump’s Social Media Summit. CCN.com spoke to the crypto activist-entrepreneur on his way to 1600 Pennsylvania Avenue.

Will Donald Trump Leave Twitter and Take His Following to Crypto-Friendly Minds?

Asked if Donald Trump might join Minds today, Ottman sheepishly said: “You never know.”

The subjects Ottman intends to address include algorithm transparency, privacy, censorship, alternative platforms, and competition.

Minds recently grew at a rapid pace after Ottman appeared on an episode of the Joe Rogan Experience. On the show, Ottman discussed the many nefarious ways that social media companies can manipulate and use data people innocently surrender.

The New York Times has characterized the Social Media Summit as a “Summit for Pro-Trump Digital Warriors. 

Platforms like Minds and Gab view censorship differently than mainstream providers such as Twitter or Facebook, neither of which received invitations.

Censorship doesn’t promote better discourse, in their view.

Censorship-Resistant Platforms Increasingly Attract Conservatives

bill ottman of crypto startup Minds on Joe Rogan
Minds experienced rapid growth after Bill Ottman appeared on the Joe Rogan Experience. Now, Ottman is attending President Trump’s Social Media Summit. | Source: YouTube 

Ottman believes the solution to hate speech is more free speech.

It’s often said: We wouldn’t need free speech if we only wanted to protect popular speech.

Ottman told CCN.com:

“I think transparency is the key to freedom. We need to depolarize social media with civil discourse.”

Strapped for time, he then entered the White House.

Thus far, Donald Trump has never addressed the issue of cryptocurrency. The emergence of Facebook’s blockchain ambitions has awakened a dragon in Washington, however, with legislators like Maxine Waters almost single-mindedly focused on it.

Yesterday, Fed chairman Jerome Powell said that Facebook should cease building Libra until the government gives them the green light, in essence.

Minds is a platform which incentivizes participation by paying every user for what they do on the site. All activity, including just scrolling your feed, earns you cryptocurrency tokens from the network pool.

The tokens have a built-in utility for advertising on the platform.

A Minds token can be spent to get guaranteed views of content on the platform. You can “boost” a post up to 5,000 views (5 tokens) at a time.

The crypto tokens can also be used to subscribe to premium content on the platform.