Twitter Chief Executive Officer (CEO) Jack Dorsey had a very violent reaction when someone joked that his Square app, which currently supports Bitcoin, would soon support Bitcoin Cash.
A Twitter user going by the handle, MeatTC_ said, “What if @jack is actually talking about Bitcoin Cash?” To which Jack responded, “Hell no.”
— jack (@jack) February 6, 2019
Taking a cue from that, another user asked, “How about some other currencies to buy in the cash app ? Bitcoin is boring”, to which Dorsey responded, “Nah.”
— jack (@jack) February 5, 2019
Dorsey has been in the news lately, for being very vocal about his pro-Bitcoin stance. Earlier it was reported that he had revealed what parallels he saw between Bitcoin and Twitter, and about “Stacking Sat Saturday” trend in which users buy $25 worth of Bitcoin every Saturday to highlight the growing adoption of cryptocurrencies. And this was the topic where he indirectly revealed the amount that he might’ve spent in BTC last week. He said, “I saw that [Stacking Sat Saturday] on Twitter […] I would have participated but I have already exceeded my limit on CashApp. I can’t purchase anymore.”
Now, since the maximum weekly purchase limit for Bitcoin on Square-owned Cash app is $ 10,000, hitting the limit means that he had purchased BTC worth $10,000 in last week on Cash app. He also said that he may be able to participate in Stacking Sat Saturday next week as limits are refreshed every week.
A year ago, he had said, “The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin. (It would happen) probably over ten years, but it could go faster.”
However, at the same time he had also added that currently Bitcoin doesn’t have the potential to become an “effective currency” as it’s “slow and costly”. However, he said optimistically that these limitations may not exist in future and Bitcoin may become more user-friendly overtime:
“It’s slow and it’s costly, but as more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable.” (It) does not have the capabilities right now to become an effective currency”.
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