Forget about Twitcoin, Says Twitter CEO

September 10, 2019

After Facebook announced the launch of Libra, a stablecoin that should become a common currency for WhatsApp, a messaging application owned by the corporation, the rumors began to emerge about the forthcoming introduction of the cryptocurrencies of similar nature by other globally recognized social media outlets.

Many of them concerned Twitter, a San Francisco-based social networking service that generates yearly revenue of $3 billion. For some reason, the hints on Twitter’s intention to follow the footsteps of Facebook and start developing its own cryptocurrency began to disseminate in the media. To weather the imminent storm, Jack Dorsey, an acclaimed digital entrepreneur who also happens to be the founder and CEO of Twitter, made a public statement in which he dispelled the rumors about his company’s interest in working on a digital coin. By the way, this coin has already been branded Twitcoin by the imaginative crypto community.

Dorsey favors Bitcoin


Jack Dorsey caught the idea of putting a stop on different insinuations about the covert plans to enter the crypto space during the visit to the launch party of Square Terminal, an innovative device for payments and receipts developed by the Australian company. While in Melbourne, the CEO addressed the press in an attempt to put a stop on the growing speculations.

In answer to a question about this hot topic, Dorsey has refuted categorically any intentions on launching, let alone developing the so-called Twitcoin. With that issue off the table, he went on and praised Bitcoin for being the most probable candidate for the title of Internet money of the future. The founder of Twitter expressed his firm conviction that the open Internet standards, inherent to Bitcoin and other cryptocurrencies, can yield far more benefits for the common user than the one that has been put under firm governmental supervision or became monopolized by mega-corporations.

He also didn’t miss the opportunity to criticize the authorities for being frustratingly incompetent in the matters of the global economy. Therefore, Bitcoin represents an opportunity for people who care about their financial well-being and want to get some autonomy from the failing governments, to experience a new kind of economic and informational interaction. The first cryptocurrency has already proven its resilience to the turbulence on the fledgling markets, with the nastiest one being the 2018 crypto “depression”, and managed to bounce back, signifying the commencement of the market recovery.

As if to prove his point, Dorsey mentioned that Square, the mobile application and device developed by the company in which he also serves as CEO, accepts payments in bitcoins. In conclusion, he prided himself on resisting the urge to join the “Libra craze” and become a participant in political games.

Author: Alex Paulson for Crypto-Rating.com
Share
Pin
Send
Share
Share

New regulatory guidelines for cryptoexchanges
New regulatory guidelines for cryptoexchanges

The need for a functional regulatory framework that would properly address digital currencies has been stronger than ever in countries around the world. While many governments and their...

SEC collects over $4 billion from penalties in 2019
SEC collects over $4 billion from penalties in 2019

The United States' securities regulator, the US SEC, has just released its annual report for the fiscal year 2019. According to the report, the regulator received...

Lottery Winner Invests Half In Bitcoin
Lottery Winner Invests Half In Bitcoin

Anyone who buys a lottery ticket dreams of hitting a massive jackpot, but very few have an actual plan of what they are going to do should the money land in the bank account. Nearly all of them...


Libra Scare: EU Reveals EuroCoin Draft
Libra Scare: EU Reveals EuroCoin Draft

The looming release of Libra appears to have scared the European government and financial authorities straight, as they are now even considering the issuance of digital currency...

Blockchain can reduce Fraud rate
Blockchain can reduce Fraud rate

Fraud is certainly a strong issue for most businesses in the world. However, a revolutionary technology like Blockchain can change things for the better. Those who are still struggling to deal...

Another Asian crypto exchange hacked
Another Asian crypto exchange hacked

While the Asian region is famous for its crypto acceptance and advanced technology, it is also quite infamous for numerous crypto exchange hacks that have occurred...


Top 5 Movies & Documentaries About Bitcoin
Top 5 Movies & Documentaries About Bitcoin

Bitcoin, as well as all cryptocurrencies in general, has made a move from being the little known invention that is discussed in a closed circle of "crypto geeks" to becoming a global...

Veritaseum ICO investors to receive compensation
Veritaseum ICO investors to receive compensation

The US SEC ICO crackdown continues, with the regulator continuously resolving one case after another. The most recent ruling of the regulator concerns...

Top 10 upcoming ICOs

ICO Start End
1 Ledder Aug 01 Dec 31
2 BitWings Jun 03 Nov 30
3 Pbet Jun 18 Dec 15
4 UCBI Banking Oct 18 Jan 18
5 Cinemadrom Feb 03 Apr 30
6 Yachtco Aug 04 Feb 04
7 GOVEARN Jun 23 Dec 31
8 BrandProtect Apr 27 May 31
9 PointPay Jul 22 Jul 22
10 WINBIX Jul 01 Sep 28
All ICOs

Top 10 Crypto Brokers

Rank Status Broker Reviews
1 FXTM information
2 HYCM information
3 FIBO Group information
4 HotForex information
5 XM information
6 OctaFX information
7 easyMarkets information
8 LH Crypto information
9 USGFX information
10 Markets.com information
All Crypto Brokers

Top 10 Cryptocurrencies

Currency Price, USD 24h
1 Bitcoin 8 704.792 -1.26%
2 Ethereum 185.270 -1.77%
3 XRP 0.270 -1.69%
4 Bitcoin Cash 278.793 -2.75%
5 Tether 1.006 0.04%
6 Litecoin 59.658 -2.65%
7 Binance Coin 21.118 -1.13%
8 EOS 3.402 -1.99%
9 Bitcoin SV 126.623 -1.55%
10 Stellar 0.075 -2.89%
All Crypto Currencies

Top 10 Crypto Exchanges

Exchange Volume, USD Reviews
BitMEX 3 069 312 071
EXX 2 250 568 625
Biki 1 853 598 655
BKEX 1 851 309 394
P2PB2B 1 753 668 584
CoinEx 1 597 757 171
Fatbtc 1 566 375 344
Binance 1 554 730 819
LBank 1 544 760 848
MXC 1 452 207 912
All Crypto Exchanges