Dorsey’s Square Crypto Seems Less About Crypto and All About Bitcoin

The recently-created Square Crypto – the digital currency division of financial services firm Square – has just announced that it is poised to make its first hire. However, despite the seeming inclusiveness of the name Square Crypto, the project seems very much focused on the original decentralised digital asset, Bitcoin.
There is a growing body of evidence to suggest that Dorsey has little interest in other crypto assets. The Twitter founder seems intent on doing everything in his power to make Bitcoin the one true currency of the internet.
Square Crypto to Hire Bitcoin Developers to Make Mass Adoption “Inevitable”
According to a Tweet made yesterday by the cryptocurrency division of financial services firm Square, the company is on the verge on making its first hire. In the post, the company references an earlier Tweet by Square and Twitter CEO Jack Dorsey, stating that the goal remained consistent with his remarks about hiring Bitcoin and crypto developers to work “full-time on open source contributions to the bitcoin and crypto ecosystem.”

We are close to making our first hire. So let’s set some expectations. True to @jack’s founding tweets, we are building open source projects that will make mass adoption not just possible but inevitable.
Our goal isn’t to make money, but to improve it.
— Square Crypto (@sqcrypto) May 21, 2019

Although crypto is mentioned explicitly by Dorsey in relation to Square’s newest division, various other indicators suggest that the entrepreneur cares little about the thousands of other digital assets and is focused almost exclusively on Bitcoin.
Firstly, the only link (and one of very few details generally) included as part of the Square Crypto Twitter account is to the Bitcoin whitepaper. There is no mention of another digital asset by name on the sparse profile.
Secondly, the account seems to much prefer posting pro-Bitcoin Tweets to anything else:

— Square Crypto (@sqcrypto) May 17, 2019

Friday poll
— Square Crypto (@sqcrypto) May 11, 2019

Today is Friday, so who should we hire (other than yourself) to support bitcoin? #WWSH
— Square Crypto (@sqcrypto) March 23, 2019

In fact, aside from one or two Tweets that mention “crypto” in very general terms, there is little to suggest that Square Crypto intends to work on any other project other than Bitcoin at present.
It would be understandable for Dorsey for want to use his financial clout to try to improve Bitcoin. He is known to be a consistent investor in the digital currency. He reportedly makes a monthly buy of $10,000 no matter the price action.
Additionally, Dorsey is a known investor of Bitcoin second-layer scaling solution start-up Lightning Labs and avid promoter of the Lightning Network itself. He was also personally involved in a recent publicity generating initiative for the technology that was known as the Lightning Torch. In the demonstration, different high profile Bitcoin enthusiasts received a payment via the Lightning Network and added a small amount before sending it on to someone else.
Dorsey’s history with Bitcoin goes further back than that, however. His Square company launched some limited Bitcoin functionalities in their Cash App back in 2018. Dorsey also says that the company is currently working on connecting users of the financial services application to the Lightning Network micropayments Bitcoin layer.
The cynical might simply argue that Jack Dorsey is simply trying to line his own pockets by investing heavily and then promoting just Bitcoin as heavily as possible. However, as the CEO of two hugely successful companies already, the man is hardly short of cash. In fact, if we are to believe Square Crypto’s latest Tweet, his efforts appear much more noble:
“Our goal isn’t to make money, but to improve it.”
 
Related Reading: Is Bitcoin Too Early For Mainstream Adoption? Study Suggests So
Featured Image from Shutterstock.
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Twitter CEO’s Square Crypto on Fire To Boost Bitcoin Adoption ‘Inevitable’

Is Facebook’s escalating effort in crypto industry hitting its competitor, Twitter.? Well, Twitter CEO Jack Dorsey is eagerly stepping ahead with his Square crypto project.
Jack Dorsey who earlier claimed that he owes enough Bitcoin, is all set to rule the mass bitcoin adoption. Square, a payment business by Jack Dorsey entered into a crypto era with a project name called ‘Square Crypto’ back on March 20, 2019, just two months back. With that, the Square CEO Jack Dorsey had also announced its open hiring for four engineers and one designer ‘to work full-time on open source contributions to the bitcoin/crypto ecosystem’.
It’s been over 2 months from today that Dorsey proposed his view of hiring a couple of engineers and designer – on May 21, 2019, Square Crypto again released a short yet crucial tweet adding that ‘they’re close to making their first hire’. Square Crypto reads it as follows;
Image source – Twitter
The long-term vision of Dorsey with his Square Crypto has been to improve the system than to make money. Nonetheless, Dorsey at the time of the announcement on March 20, 2019, stated that the project is open source contributions to bitcoin/crypto ecosystem. As such proposed opportunities given to 3-4 engineers and 1 designer were offered rights to work from anywhere and expected to directly report to Dorsey. In addition, these employees will be paid in Bitcoin.
Square Crypto as defined by Dorsey on March 20 reads as follows;
This will be Square’s first open source initiative independent of our business objectives. These folks will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests. All resulting work will be open and free.
Nothing more than a tweet by Dorsey’s Square Crypto is exposed – neither by Square Crypto nor by Jack Dorsey. It’s worth to mention that the Dorsey in early Feb 2019, invested $2.5 million in Lightning Labs, a startup co-founded by Elizabeth Stark. Noting such huge funds invested in Lighting labs, many perceive Dorsey’s next plan with Square Crypto is likely related to Lightning Network.
Image source – Twitter
Ahead of Twitter, Facebook with its crypto project Libra often appears on top bulletins these days. On top of all, the surging volume of Bitcoin in the year 2019 certainly influenced these social media networks to boost up their crypto projects to the next level.
Also read – Facebook Cryptocurrency Project ‘Libra Networks’ Opens Office in Switzerland
So readers, what’s your take on Square Crypto Project.? Let us know your view on Facebook and Twitter’s involvement in the crypto industry so far.
Image source – TED
The post Twitter CEO’s Square Crypto on Fire To Boost Bitcoin Adoption ‘Inevitable’ appeared first on Coingape.
Source: CoinGape

Bitcoin Mass Adoption is ‘Inevitable’ as Square Moves Closer to Its Crypto Project Launch

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Bitcoin Mass Adoption is ‘Inevitable’ as Square Moves Closer to Its Crypto Project Launch
Square said they plan to “improve money” through their Bitcoin and crypto development, while Square Crypto is poised to hire its first dedicated employee, with many cryptocurrency investors hoping Square will lead a wave of fresh bitcoin adoption.
Bitcoin Mass Adoption is ‘Inevitable’ as Square Moves Closer to Its Crypto Project Launch

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Source: CoinSpeaker

Square Cash App “Absorbing” 10% of Bitcoin Supply Daily, 200% Projected By 2020

One of the most interesting and advantageous design aspects that pseudonymous creator Satoshi Nakamoto built into Bitcoin, was the “halving” – a pre-programmed point in time in which miners receive a reduced block reward of BTC for confirming transactions on the network. Each halving event has been preceded by a major price surge in anticipation of the asset’s balance of supply and demand being thrown off. Some economists even believe that it’s the reason why Bitcoin is the fastest rising valued asset of all-time.
A new earnings report from payments processing app Square Cash, which rolled out Bitcoin buying to their uses at the end of 2017 and into the start of 2018, suggests that the company is now responsible for “absorbing” as much as 10% of the current BTC supply mined each day. Furthermore, the growth trajectory of the company’s Bitcoin sales could bring the app’s impact on the BTC supply to new heights, responsible for users buying double the daily supply mined of Bitcoin by the next halving, or 200%.
Square Cash Takes 10% of Mined BTC Supply, On Track for 200% By Next Halving
Jack Dorsey, founder of the social media platform Twitter and Square, Inc. – the payments processing company behind the cash app – is among Bitcoin’s biggest bulls. The entrepreneur believes that the first every cryptocurrency has a strong chance of becoming the world’s global currency for the internet, and is doing all he can to support the leading crypto by market cap on its journey toward realizing its full potential.
Related Reading | Economist: Bitcoin Is The Fastest And Highest Rising Value Asset Ever
The Bitcoin supporter launched sales of the digital asset to users of the Square Cash app at the close of 2017, and further rolled it out to more users at the start of 2018. Since then, the app has grown Bitcoin-related revenues month-over-month, and is now responsible for “absorbing” 10% of the daily BTC supply mined by miners across the globe.

It looks like @Square is now absorbing more than 10% of all BTC mining supply on a daily basis. That is damn impressive, and shows how much people #stackingsats can add up! https://t.co/yoy2GROJnN
— Ben Davenport (@bendavenport) May 1, 2019

Square Cash Impacting Supply: Is This Jack Dorsey’s Plan to Help Bitcoin Succeed?
With one single app offering Bitcoin as an afterthought having such an impact on the BTC supply, it highlights the scarcity of the digital asset and gives a glimpse into what the next halving could mean for that supply and its balance with demand. Each halving diminishes the BTC supply by 50%, which would automatically bring Square Cash’s impact on the BTC supply to 20% without any further growth.

If BTC sales on Square Cash maintain current growth rates, then by the next Bitcoin halving (May 2020), roughly 2 BTC will be purchased on Square Cash for every new BTC that is mined. pic.twitter.com/GPxXhaGK15
— Yassine Elmandjra (@yassineARK) May 1, 2019

But Square Cash shows no signs of slowing its growth, and Bitcoin awareness has only increased since the hype bubble in 2017 popped. If Square Cash maintains its current growth trajectory of Bitcoin sales, the app is set to syphon as much as 200% of the Bitcoin supply generated by miners each day by the next halving, which is currently scheduled for May 2020.
Related Reading | Jack Dorsey Wants to Help Get Bitcoin Adopted as a Global Means of Payment
With double the Bitcoin being sold to Square Cash app users alone than is unlocked by Bitcoin miners, the demand of Bitcoin will begin to greatly outweigh supply, and cause the value of the asset to set new all-time highs.
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Source: New feedNewsBTC.com

Bank of America secures crypto-patent, new headache for Bitfinex and more

Crypto News – 02 May – Bank of America secures crypto-patent, new headache for Bitfinex and more
Don’t forget to follow us for our daily videos#bitcoin @Bitcoin @bitfinex @barrysilbert @BankofAmerica #cryptocurrency #bitcoinnews @GrayscaleInvest pic.twitter.com/vgvwgzrGOv
— AMBCrypto (@CryptoAmb) May 2, 2019

Crypto News- 02 May
Binance celebrates World Password Day: Binance’s native token, Binance coin, surged by over 5% in 2 hours as the exchange celebrated World Password Day
Read more at https://bit.ly/2PN7N3S
BitPay-Refundo partnership: Bitpay announced its partnership with Refundo, a collaboration that will enable customers to receive U.S Federal and State tax refunds in Bitcoin [BTC]
Read more at https://bit.ly/2PH8go2
Ripple at IFGS 2019: Ripple’s Head of Regulatory Relations, Europe, made news after he claimed that UK’s FCA had made the country more conducive to crypto-businesses
Read more at https://bit.ly/2VbYwrK
Jack Dorsey’s Square Inc. posts record revenue: Square Inc. released its Q1 report for 2019, stating that it posted record revenues and profits, with many attributing it to the #stackingsats movement
Read more at https://bit.ly/2WhRJta
Good news for Dogecoin: Fans of the meme-coin were elated after the popular coin was given support on Coinbase Wallet, after noting a 17% hike in 2019
Read more at https://bit.ly/2Ws9cPy
Brian Armstrong gets called out: Coinbase’s Brian Armstrong got called out by many in the Twitterverse for ‘shilling’ USDC Coin so soon after the Bitfinex/Tether episode
Read more at https://bit.ly/2IXuK3J
Binance stablecoin in the cards?: The online cryptoverse was rife with speculation after Binance’s CZ hinted at possibly developing a stablecoin of its own, in response to a user’s tweet
Read more at https://bit.ly/2Y1eeTK
The post Bank of America secures crypto-patent, new headache for Bitfinex and more appeared first on AMBCrypto.
Source: AMB Crypto

Musk Trolling Ethereum for Real or As a Result of SEC Decision?

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Musk Trolling Ethereum for Real or As a Result of SEC Decision?
Crypto-Twitter is known for its hysterics. Elon Musk challenged this fact when he just tweeted “Ethereum”, and it went in a frenzy as expected, being re-tweeted more than 3000 times in only 2 hours.
Musk Trolling Ethereum for Real or As a Result of SEC Decision?

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Source: CoinSpeaker

Crypto Twitteraties Demand @Bitcoin Twitter Account Suspension, Twitter CEO Responds Quickly

Although Satoshi’s identity is a still mystery even if Craig Wright is continuously striving, Crypto twitteraties demands suspension of @Bitcoin Twitter account.
Should @Bitcoin Twitter Account be suspended?
While Satoshi Nakamoto is famously known as the creator of Bitcoin but remained anonymous to the whole world, the Crypto community on Twitter is talking tough on how should ‘Bitcoin’ Twitter account be treated? As such, self-claimed Bitcoin educator ‘Jimmy Song’, took to Twitter and created a poll, asking ‘The @bitcoin account should be’ with four options that say either left alone, suspended for fraud or shadowbanned and other.
The poll bagged 6062 votes and among four options ‘suspended for fraud’ ranked 54%, higher than rest three options.
Source: Twitter
Nevertheless, the poll is then followed by leading Twitter accounts such as Whale Panda which currently has 215.8K followers and one of the famous profile in crypto Twitter. Whale Panda retweeted the poll stating that Bitcoin account should be suspended just like the Internet Account. It cites ToS as the account is sold against Terms of Service and claimed that it is actively defrauding people.
Source: Twitter
CEO Jack Dorsey’s Response
Nevertheless, the account is closely related to Roger Ver, the founder of Bitcoin Cash. He also owns news.bitcoin.com which often shill Bitcoin Cash(BCH) and sources that supports BCH cryptocurrency. Moreover, @Bitcoin Twitter account also recently tweeting more about BCH and meantime criticizing the BTC networks’ problem. This gotten the attention of Bitcoin maximalists and one such BTC proponent, Zack Voell (often active on Twitter and an analyst for Messari Report) also voiced his concern on Twitter.
Source: Twitter
He also shared his and Twitter CEO Jack Dorsey’s private conversation screenshot (which is deleted now) – According to the screenshot, Dorsey asked ‘what do you recommend we do with it?’
Source: Twitter
Who Handles @Bitcoin Twitter.? Roger Ver?
Moreover, the report stated that the account has already been banned in 2018 and experienced ‘shadow ban’ earlier to this. However, it is still unclear who really handles @Bitcoin but many assume it as Roger Ver. Here is Roger Ver’s response when @Bitcoin was banned during April 2018.
Source: Twitter
Following the recent deplatform voice, @Bitcoin Twitter account officially released a couple of ‘back to back’ tweets to elaborate the whole scenario. One such tweet claim that Roger is not the one who is tweeting;
Source: Twitter
Moreover, Jimmy Song’s poll indicates users voice and demands this account should be suspended due to defrauding people. However, Twitter does delete any account for a common reason such as Spam, Account security at risk or if users have reported Twitter that it is violating its rules surrounding abuse.
So readers, do you agree with the poll result.? Do you think Roger Ver’s closely related @Bitcoin Twitter account Should be permanently suspended just like a @Internet account? Let us know in the comment below
The post Crypto Twitteraties Demand @Bitcoin Twitter Account Suspension, Twitter CEO Responds Quickly appeared first on Coingape.
Source: CoinGape

Bitcoin.org’s Cobra accuses Jack Dorsey’s Square Crypto of pandering to Bitcoiners to promote Cash App

Cobra, Co-owner of Bitcoin.org and Bitcointalk.org, has always been very vocal about his views on other cryptocurrency projects. Cobra has consistently attacked altcoins, or what he calls “shitcoins,” while hailing Bitcoin as the “king coin” and “worth more than all other altcoins combined.” He is in the news again after attacking Jack Dorsey and his new crypto project, Square Crypto.
Cobra accused Dorsey and Square Crypto of pandering to Bitcoin users, while also suggesting that the crypto project is merely a way to bring in more users for Dorsey’s Cash App. Cash App, developed by Dorsey’s Square Inc., is a mobile payments app that announced Bitcoin support last year to great fanfare. Cobra’s tweet read,
“Gotta respect how hard @sqcrypto is pandering to Bitcoiners. Very clever how @Jack has embedded himself in the community; in return the community promotes @CashApp, which gives that service a small but dedicated and activist group of early users.”
For its part, Square Crypto has not announced anything major, since it was first launched last month. However, it is known that the crypto project is on the hunt for crypto engineers and designers. Square Crypto was also in the news after querying the cryptoverse about what it wanted to be added to the ecosystem, with privacy enhancements and lightning plug-ins being the most popular suggestions.
Cobra wasn’t done attacking Jack Dorsey. In the same thread, he further added,
“Liberal elites don’t like things they can’t control. Bitcoin goes against everything Jack stands for. He’s no Bitcoiner, and never will be.”
The response to Cobra’s tweets was mixed, however, with Twitter user @StopAndDecrypt commenting,
“Do things we like and it’s pandering, do things we don’t like and we’re being too tribalistic? Once again, it’s like Cobra doesn’t understand how any of this works.”
This isn’t the first time Cobra has spoken out against Dorsey and Cash App. Cobra had previously claimed that Dorsey’s Cash App will push the same kind of censorship Bitcoin advocates work against. Cash App’s censorship would be an extension of Twitter’s censorship policies, he said, adding that it will soon restrict users from accessing their own funds. He said,
“Word of caution for everyone riding @Jack’s dick, the same de-platforming tools will be applied to @CashApp eventually; loss of your money or suspension based on arbitrary BS.”
The post Bitcoin.org’s Cobra accuses Jack Dorsey’s Square Crypto of pandering to Bitcoiners to promote Cash App appeared first on AMBCrypto.
Source: AMB Crypto

Online Services Behemoths, Square and Facebook, Heavily Target Blockchain Opportunities

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Online Services Behemoths, Square and Facebook, Heavily Target Blockchain Opportunities
Facebook and Square rank among the notable institutional investors making significant investments in the blockchain and cryptocurrency industries. They aim to benefit from the potential mass adoptions.
Online Services Behemoths, Square and Facebook, Heavily Target Blockchain Opportunities

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Source: CoinSpeaker

Lightning Labs Releases Loop Feature to Improve Bitcoin Payments on Lightning

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Lightning Labs Releases Loop Feature to Improve Bitcoin Payments on Lightning
Lightning Labs has announced alpha release of Lightning Loop aimed to imrove the efficiency, scalability, and usability of Lightning.
Lightning Labs Releases Loop Feature to Improve Bitcoin Payments on Lightning

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Source: CoinSpeaker

Mike Novogratz: Another BTC Value Surge is About to Happen

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Mike Novogratz: Another BTC Value Surge is About to Happen
As Bitcoin (BTC) is clinging on to its $4,000 price tag, major crypto figures are betting big on a potential bull run. However, it doesn’t necessarily mean that cryptocurrency investors should get too carried away by the recent price uptick.
Mike Novogratz: Another BTC Value Surge is About to Happen

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Source: CoinSpeaker

Top Trending Cryptocurrency News of the Week: Twitter Founder Commits to Investing in Bitcoin Every Week and More

Key highlights

Korger Stores Gives Up Visa for Bitcoin
Denver State to Test Blockchain based Voting
Dorsey commits to investing in Bitcoin every week
Argentinian Crypto Market Defies Crypto Winter
Turkey has most crypto owners in Europe

Korger Stores Gives Up Visa for Bitcoin
Well, Bitcoin has won a small battle against the payment giant Visa but a win is a win. Kroger, a prominent US grocery chain announced a storewide ban on Visa payments which would begin from April. This move was propelled by rising fees of Visa, which is making it difficult for the chain to keep prices low. Morgan Creek took this opportunity and Pomp, in his tweet, mentioned that The Morgan Creek Digital team will fly to meet them and get them hooked up with the Lightning Network nationwide.

Grocery store @kroger is stopping acceptance of @Visa in over 250 stores because of network fees.
Who knows someone on the leadership team there?
The Morgan Creek Digital team will fly to meet them and get them hooked up with the Lightning Network nationwide. 🔥🙏🏽
— Pomp 🌪 (@APompliano) March 2, 2019

Denver State to Test Blockchain based Voting
Blockchain has been a great help for state heads as its been a huge boon to voting. The same will now be used by the state of Denver, as the municipal corporation of the state has planned to pilot test a mobile voting app in elections in May 2019. They would be making the blockchain-based app available to active-duty military and their eligible dependents as well as any overseas voters. The corporation believes this will improve the voter turnout and decrease absentees.
Dorsey commits to investing in Bitcoin every week
Jack Dorsey couldn’t hide his love for bitcoin. His recent appearance on the podcast called the Tales from the Crypt saw him reveal that he maximizes the USD 10000 bitcoin purchase limit on Square Cash app to acquire the dominant cryptocurrency   

The latest episode of @TFTC21 with @jack is live now!
We discuss everything from how Jack came to find & experiment with Bitcoin, the parallels between early Twitter and Bitcoin, pseudonymity, Bitcoin's effect on the State, & much more.
Peep it here:https://t.co/SMqPL7pCY5
— Marty Bent (@MartyBent) March 4, 2019

Argentinian Crypto Market Defies Crypto Winter
South American market has been growing at an exponential rate. The scenario has been such that the Argentinean market has defied the crypto winter. The trend began last year when the country’s inflation rate reached a record 47 percent. The figure is still a fraction of the 84 percent peak experienced in 1991, but enough to alarm the citizenry. Consequently, more Argentines are seeking refuge in cryptocurrencies, with Bitcoin being the most popular.
Turkey has the most crypto owners in Europe
Well, last year the Turkish economic turmoil has got a lot of citizens to buy Bitcoin but it looks like most people have still stuck to the digital assets. According to the recent survey conducted by ING, 18% of the Turks still owned or trade cryptocurrencies making Turkey the European Country with most crypto ownership. According to the survey the global average still stand in single digit of 9% while other top countries included Romania (12%), Poland (11%), Spain (10%), Czech Republic (9%), Austria(8%), and Germany (8%) Italy, Netherlands (7%), United Kingdom (6%), and France (6%).
The post Top Trending Cryptocurrency News of the Week: Twitter Founder Commits to Investing in Bitcoin Every Week and More appeared first on Coingape.
Source: CoinGape

Bitcoin To Hook $4k With Twitter Founder’s Bullish Signs on Bitcoin and Lightening Labs

It is likely that bulls are knocking at BTC’s new door, enabling to hook it up to $4000. As crypto enthusiasts often look at the way billionaires, like Jack Dorsey (Twitter), Elon Musk (Tesla), Mark Zuckerberg (Facebook) and many other high profile figures from different industries look at the world’s largest cryptocurrency – this is because of history evident its quick impact on the graph of Coinmarketcap.
Jack Dorsey’s Bullish Signs on Bitcoin
Over the past few days, Twitter CEO, Jack Dorsey is on continuous talk – since he spoke about CashApp Support for Lightning Network, Showing Off his Casa Bitcoin node, reportedly buying $10,000 in Bitcoin every week to his latest sentiment of supporting Bitcoin and Lightening network. These bold statements could point out to the recent increasing graph of Bitcoin.
In the latest discussion on Twitter, Jack Dorsey responded to a comment that doubt his interest in Bitcoin is due to the reason he invested in Lightening Labs. As a response, Jack strongly claims – both. In his words;

Both. I’m excited about helping bitcoin to be a fast and efficient currency and excited by Elizabeth and the Lightning Labs team.
— jack (@jack) March 6, 2019

To remind, Jack Dorsey in last year has invested millions in Lightning Labs, a Bay Area-based startup. Reportedly, the firm had raised $2.5 million in seed funding from Jack Dorsey, Square, and Twitter co-founder.
Furthermore, in a recent podcast, Jack explains his view on Bitcoin – how he get started with the world’s largest cryptocurrency. During the podcast, he says that he was much fascinated when he first read Bitcoin’s whitepaper. He told Marty Bent, the podcast host;
“Imagine being born this year, growing up only knowing that the potential for a global currency exists – that is exciting,”
Although it was just 30 minutes podcast interview with Marty Bent – he does speak potential talk on Bitcoin. He further revealed how he had spent $10, 000 on buying crypto on Cash App in recent weeks.
Bitcoin To Touch $4000
Well, Jack’s bullish sentiments continued with BTC gearing up to $4000 as on March 06, 2019. According to the data from Coinmarketcap, the present value of BTC counts $3902. Significantly, the average trading volume goes up to $68,582,764,414, growing at 3.15 percent during the past 24 hours.

So readers, what do you think about Jack’s strong believe in Bitcoin? Let us know your opinion.
The post Bitcoin To Hook $4k With Twitter Founder’s Bullish Signs on Bitcoin and Lightening Labs appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC]: Twitter’s Jack Dorsey says he maxed out Bitcoin’s $10,000 weekly buying limit

On a podcast with Tales from the Crypt, Twitter’s Jack Dorsey spoke to Marty Bent about all things Bitcoin and mentioned that he maxed his Bitcoin buy limit for the week.
On the podcast, Dorsey mentioned how CashApp was the only public company trying to bring Bitcoin to the masses. He also added that CashApp’s team worked towards bringing the application closer to users by working with the Securities and Exchange Commission [SEC], paving the way for others.
Speaking about the “Stacking Sat Saturday”, Jack Dorsey stated,
“I saw that [Stacking Sat Saturday] on Twitter… I would have participated but I’ve already exceeded my limit.”
Although Dorsey didn’t exactly say that he was aggregating BTC worth $10,000 every week, users on Twitter rephrased it. Stack Sat Saturday is a movement/trend where users accumulate $25 worth of BTC every Saturday to exhibit the growing importance of the cryptocurrency.
The hashtag used for this trend was #stackingsats [Stacking Satoshis], and it is already catching up with users like Pierre Rochard and other prominent cryptocurrency enthusiasts in the space. Dorsey added that he might be able to join the #stackingsats next week when his limit cycle is renewed.
A Twitter user @girevik_ tweeted,
“TIL @jack is maxing out the weekly $10k BTC buy limit. I guess smart money has been loading up on cheap BTC all along.”
Jack Dorsey has been vocal about the internet currency aka Bitcoin [BTC] over the past few months. He even contributed to the Lightning Network by accepting the Torch and passing it on. Dorsey has often proclaimed his support for Bitcoin and its underlying technology, with the most recent episode being on the Joe Rogan podcast.
@BrokeWokeJoke, a Twitter user, commented,
“And here I was thinking I was the only fool buying regularly!”
Another user, @devilninja777 commented,
“$10K per week for Jack is $100 per week for me. We are both loading up :)”
To the above, a user @americanhodl tweeted,
“It’s actually more like $1 a week to you”
The post Bitcoin [BTC]: Twitter’s Jack Dorsey says he maxed out Bitcoin’s $10,000 weekly buying limit appeared first on AMBCrypto.
Source: AMB Crypto

This Cybersecurity Pioneer Thinks Bitcoin Cannot Replace the Current Financial System

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This Cybersecurity Pioneer Thinks Bitcoin Cannot Replace the Current Financial System

While some experts insist that quite soon Bitcoin will replace fiat money, cybersecurity pioneer Eugene Kaspersky believes that the world is not ready for such changes.

This Cybersecurity Pioneer Thinks Bitcoin Cannot Replace the Current Financial System

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Source: CoinSpeaker