Ethereum alone not enough to disrupt Big Tech: Jack Dorsey

Jack Dorsey, Twitter CEO and self-confessed Bitcoin (BTC), maximalist Jack Dorsey doesn’t give Ether (ETH!) fans an inch. Dorsey’s latest offhand comment about the market’s second largest cryptocurrency was a downplaying of the platform’s ability to change the status quo in Big Tech.

I believe that disrupting “Big Tech”, is exactly what we need and want.

However, it is not possible to do this with just one technology.– Jack (@jack), August 12, 2021

 

Dorsey’s comment came after an online discussion about the utility of full-blown integrations of nonfungible tokens into Twitter. Seyitaylor, a Twitter user, argued that this would be more beneficial to Ethereum than the social media platform.

Dorsey acknowledged that such a move would have more impact on the Ethereum ecosystem than it did for his platform, but added: “Every Twitter account being able to connect to a Lightning wallet however …”

Despite Twitter’s past dabbles with NFTs and Dorsey using the technology to raise funds for charity, Dorsey is still a strong Bitcoin advocate to the dismay of both Ether enthusiasts and more secular crypto fans.

One Twitter user responded to Dorsey’s comments and asked him to explain: “Why does the ETH hate then if it’s possible to have more than one piece of the puzzle?” Dorsey’s reply was that “focusing on one thing doesn’t mean you hate the other.” I have made my concerns about Bitcoin known. These are the founding principles, security and centralization.

Related: Jack Dorsey hasn’t made the logo of the Ethiopian flag for ETH to be a trolling tactic.

Garry Tan, another Twitter user, probed the mystery of Dorsey’s singular focus on Bitcoin. Timothy Kim suggested that it was Dorsey’s preoccupation with Bitcoin’s promise to be “sound money.” Dorsey agreed to the discussion, stating that he is in Bitcoin to “fix the money” and “not trolling.”

Dorsey refuted claims that he was deliberately shaming Ethereum in another thread. He clarified that his support for Lightning in this context was not about them, but about “enabl[ing]] a currency to the internet.”

This is Dorsey’s long-held motto. He has consistently argued that Bitcoin would be the only currency on the internet by 2018 at the earliest. He has not, unlike other Bitcoin enthusiasts, admitted that there may be a “flippening”, but he is still reluctant to invest in altcoins.

https://cointelegraph.com/news/ethereum-alone-not-enough-to-disrupt-big-tech-jack-dorsey

Ethereum News Source

Charles Griffin

Charles Griffin – Business and Transportation I am Charles Griffin with more than 10 years of experience in the Stock market industry, I am energetic about Finance and Business news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of Magnewspress.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Business News category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.  

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami