Saturday, July 20, 2019

Jack Dorsey Insists Bitcoin Is the Currency of the Future

In a recent interview on the Joe Rogan Experience, the CEO of Twitter, Jack Dorsey stated with conviction that Bitcoin could own the internet as its single currency.

The episode seemed not to be liked by many, and the downvotes it garnered is proof of that. Commenters were displeased that Rogan failed to bring up the issue of Twitter censorship for Dorsey to address.

Could Sponsorship Be A Factor?

The Joe Rogan podcast has attracted a number of sponsors of which the Cash App by Square is one of them. The appearance of Dorsey on the show in addition to how easy Rogan went on him raised questions about their business relationship.

Information has it that one of the podcast’s largest sponsors is the Cash mobile app, paying an unconfirmed monthly advertising fee of $300,000 which is more than $3.5 million a year. Little wonder skeptics believe Rogan was reluctant to ask any hard questions on political censorship for the sole reason of sponsorship.

Dorsey Owns Bitcoin Investment

When a question was thrown at Dorsey regarding any future plan to add more cryptocurrencies to the app, his answer was a resounding no. According to Dorsey, only Bitcoin will feature on Cash, but his investment in Lightning Labs could be a conflict of interest.

Lightning Labs is a group of developers working side by side with Blockstream to implement the Lighting Network protocol on Bitcoin.

Dorsey, alongside Charlie Lee, the LTC creator, contributed to Lightning Labs’ development fund, which gives him the responsibility of ensuring the success of the project.

Dorsey is convinced that Bitcoin could become the future internet currency because it ‘has been tested’ and also has certain ‘principles’ guiding it. However, the said principles are vague since Bitcoin’s method of operation has witnessed changes in the past years.

Related Article:  Twitter Blames Recent Bitcoin Giveaway Scams on a Third-Party Marketing App

The Censorship Brouhaha

Dorsey’s interview attracted a 61,000 downvotes possibly for the singular reason of Rogan’s unwillingness to direct tougher questions about corporate censorship to Dorsey.

Joe Rogan, however, has stated that there will be a second interview with Dorsey, in light of the negative reception of the podcast, which promises to address the grievances of the masses. Rogan vowed to table the issue of censorship on Twitter in the forthcoming show and have the CEO address them. This time, no simple questions, he promised.

Alex Jones Is Not Pleased

If there is anyone who has a reason to hate Jack Dorsey, it probably is Alex Jones of Infowars. Jones, in recent months, has been denied access to a lot of Internet and financial services and in his radio show, he spoke wildly against Rogan and Dorsey.

Jones has been banned from Twitter, PayPal, Facebook, the Joe Rogan podcast and lots more. Not backing down, he said:

“We’re not mad at them [people like Jack Dorsey] because we’re not in their banquet… We don’t want to be part of their banquet.”

It must be difficult for Jones at the moment as broadcasting, advertising streams and multiple branding has been cut from his Infowars juggernaut. Anyway, his opinion might change soon as Joe Rogan disclosed on Instagram that Dorsey hinted at a possible return for those Twitter banned, of which Jones is one of them.

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