Bitcoin News

Dorsey Justifies His Pro-Bitcoin Stance, Claims He Is ‘Not Trolling’ Ethereum

Dorsey has used his platform to explain his BTC-only stance – igniting the ire of Ethereum (ETH) supporters. Therefore, hinting “casually” that Twitter accounts might one day be connected to Lightning Network wallets shortly.

Dorsey and the crypto-community

Dorsey has been busy engaging with the crypto-community on both sides of the BTC-ETH fence in recent hours. Moreover, claiming that he was “definitely” not in BTC “for the money” as he intends”to give all mine. Away”. Instead, he declared, he is “in it to help fix the money.”

In contrast, the ETH community has been fuming since Dorsey posted an unrelated post with an image that appeared to include a tweet from a Twitter user that said that ETH was “a scam.”

It was inevitable that ETH community members would accuse Dorsey of mocking them. Dorsey responded by stating he was “not trolling” or “fighting” competing “projects”. However, he is “agreeing that ETH wasn’t a good idea.”

Even though most significant NFT initiatives have attempted to leverage the Ethereum blockchain, Dorsey insisted that “no one company should ‘own’ the [non-fungible token] space.”

ETH aficionados respond

ETH aficionados reacted at Dorsey’s remarks, with one tweeting that “Big Tech scared of Ethereum”. Their reasoning is it “disrupts Big Tech.”

Replying to this, Dorsey states, “Disrupting “Big Tech” is exactly what’s in need and what I want. No one technology alone will do that, though.”

Further talking about “ETH hate”, Dorsey explained, “Focus on one thing isn’t hate of the others. I’ve made my concerns known about others in comparison to Bitcoin. Key ones are founding principles, security and centralization.”

Twitter and Lightning Network

According to Dorsey, every Twitter account should have a wallet address for holding NFTs — a move that “would benefit the ETH ecosystem way more than it benefits Twitter.”

However, he pondered: “Every account on Twitter being able to link to a Lightning [Network] wallet, however….”

He also clarified that his emphasis was not on the “Lightning Network for NFTs,” but instead “Lightning to enable a currency for the internet.”

There were many positive responses to Dorsey’s “casual” remark of the prospect of integrating social media accounts into the network. One Redditor called on Dorsey to “get it done”. Another user said that the move might help boost Bitcoin’s price to USD 100,000 by the end of the year.

Dorsey Enrages ETH Community

No matter how anyone looks at it, Dorsey’s tweet enraged the Ethereum community by what they regarded as an insult. @iamDCinvestor opined that Jack’s “doubling down against Ethereum would become one of the biggest miscalculations in web history” because “there is a huge opportunity for social networks and other websites ready to embrace Ethereum Web3, not lightning wallets linked to your account which no one cares about.”

When Dorsey heard this, he replied: “I’m focused on a native currency for the internet. That is all.”

Followers of the r/Ethereum subreddit stated that “BTC doesn’t threaten his business and wealth.” At the same time, another wrote on Reddit: “ETH will mean a decentralized internet that people like Dorsey and Facebook’s Mark Zuckerburg cannot manipulate and censor. No one will use their platforms when internet 3.0 is open and free.”

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