The bitcoin community applauded Tesla
Musk sharply increased the price of bitcoin when Tesla’s surprise bitcoin bet was announced in February, but his bizarre Twitter
Now Twitter CEO Jack Dorsey, a longtime funder, has revealed that it was “only a matter of time” before Twitter or its fledgling decentralized social network project, Bluesky, incorporated the payments in bitcoin and replaces Elon Musk as the new bitcoin billionaire. champion.
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“It’s only a matter of time,” Dorsey, who also runs the payments company Square, replied to a bitcoin fan account on Twitter who asked him to “build [the bitcoin lightning network] in BlueSky or Twitter. “
The Lightning Network allows bitcoin to be sent through a payment protocol built on top of the bitcoin blockchain and is designed to help the network scale, reduce fees, and speed up transactions. Interest in the Lightning Network was spurred this month by news that El Salvador will use it to facilitate bitcoin spending online and in person now, bitcoin is its official currency along with the US dollar.
Dorsey, who told a large crowd at the Bitcoin 2021 conference in Miami last week that if he “wasn’t in Square
“If you think bitcoin doesn’t ultimately transfer power from banks and businesses (the ones you fight!) To people around the world, you’re right, [it’s] useless “, Dorsey replied via Twitter to influential US Senator Elizabeth Warren who called for a “crackdown on environmentally damaging cryptocurrencies” that use energy to solve “unnecessary and complicated math problems.”
Dorsey, who avoided so-called altcoins like Ethereum and Musk’s pet project dogecoin in favor of bitcoin, last year added some 8,000 bitcoins, worth $ 170 million to the era, at the Square treasury.
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Dorsey has repeatedly endorsed bitcoin over the past few years, going so far as to claim that bitcoin has the potential to become the only currency in the world by 2030 in a 2018 interview with the London Times newspaper, and took on the role of chief Bitcoin booster that Tesla’s Elon Musk has apparently abandoned.
Last week, Musk appeared to distance himself further from bitcoin after he canceled support for Tesla’s bitcoin over environmental concerns in May and posted a series of somewhat satirical dogecoin memes.
“I pretty much agree with Vitalik,” Musk wrote on Twitter, responding to a broad YouTube interview with Ethereum co-founder Vitalik Buterin by AI researcher and podcaster Lex Fridman.
In the interview with the de facto leader of Ethereum, Fridman asked if it would be possible to upgrade dogecoin to “beat bitcoin hands down”, as Musk once suggested – with Buterin saying: ” If doge somehow wants to bridge Ethereum and then people trade doges thousands of times a second … that would be amazing. “