Twitter CEO Jack Dorsey stays with his point. Bitcoin and cryptocurrency are the national currencies of the internet, he told during the Twitter News Conference in New York.
Twitter does not support the Libra Association
He was asked about Mark Zuckerberg’s performance at the American Congress and about Libra. When asked if Twitter would join a consortium of companies that are members of the Libra Association, Dorsey gave a clear answer: “Hell no.”
“It is not an open internet standard that was born on the internet,” explained Dorsey. “It originated from the intention of a company and it is not consistent with what I personally believe and what I want our company to stand for.”
Internet is a nation, bitcoin the currency
Dorsey also does not support Libra’s idea as a cryptocurrency: “They use that label freely … I don’t know if it is a gimmick, but cryptocurrency is not necessary for that thing to work,”
He is enthusiastic about decentralized cryptocurrency in general: “I think the internet is an emerging nation state in almost all respects,” Dorsey said. “And the internet also has its own national currency in the form of cryptocurrency and bitcoin.”
Everything for the likes and reactions
Dorsey also has a problem with how the algorithm works on Facebook. Zuckerberg estimates all types of messages to be of equal value, regardless of content and the algorithm ensures that certain wrong messages are promoted to a wider audience. For example, more controversial messages that receive more likes and responses can be shown to more people, and there is a clear difference between “earned range”, meaning that messages naturally go viral and “paid range” of promoted messages.
That Zuckerberg did not address this distinction, Dorsey said Thursday, was a major error in his argument.
Zuckerberg changes Facebook’s history
The CEO of Twitter was also unhappy about Zuckerberg’s decision to change the Facebook story of origin. Zuckerberg suggested in his speech that he was inspired by the war in Iraq to create Facebook.
“I remember feeling that if more people had a voice to share their experiences, the war might have gone differently,” Zuckerberg said. As the movie The Social Network shows, the start of Facebook is mainly associated with Zuckerberg’s desire to judge the appearance of female students.
“There is a bit of revisionist history in all his stories,” said Dorsey about Zuckerberg. “It takes away from the authenticity and authenticity of what we are trying to do.”
Skin in the game
The eccentric Twitter boss has been a bitcoin fan for a long time. During an interview with The Times in March 2018, he said that bitcoin could become the global digital currency.
Dorsey, with an estimated assets of $ 4.2 billion, has what they call skin in the game. He also said that he bought a Trezor hardware wallet to store his cryptocurrency. He relies on the dollar-cost averaging (DCA) investment strategy and buys about $ 10,000 in bitcoin every week.
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