As a researcher with a background in technology and finance, I find Jack Dorsey’s perspective on Bitcoin and his experience with BlueSky intriguing. Dorsey’s bullish view on Bitcoin’s future price action is not new, but his emphasis on the collaborative ecosystem and its potential societal impact adds depth to the conversation.
In a chat with journalist Mike Solana on Pirate Wires on May 9, Twitter founder Jack Dorsey expressed his optimistic perspective regarding Bitcoin‘s price trend.
According to Dorsey, Solana has the potential to reach “at least $1 million” in value by the year 2030. He expressed confidence that this price point will be surpassed.
Bitcoin’s True Value
According to Dorsey, what makes bitcoin truly fascinating goes beyond its market value. Instead, it’s the collaborative network that underpins it, which motivates people to actively participate in enhancing its functionality.
Anyone participating in Bitcoin, be it through employment, transactions, or investments, contributes to strengthening the network as a whole and in turn boosts its worth.
From my perspective as a researcher, I’ve come to realize that Bitcoin (BTC) transcends its role as a mere financial asset. Instead, it embodies an intriguing ecosystem and a powerful socio-economic movement that imparts invaluable insights.
As a crypto investor, I’ve always been captivated by Dorsey’s bold perspective on bitcoin’s transformative power. He believes that this digital currency has the potential to bring about “global harmony” and “abundant energy resources.”
Jack Dorsey’s Departure from Bluesky
At the interview, Dorsey, current CEO of financial services company Block, shared reasons behind his exit from the board of BlueSky, a decentralized Twitter equivalent he helped launch in 2019.
On May 5, BlueSky formally announced Dorsey’s departure through a post, acknowledging his significant contributions to kickstarting and financing the project. The company is now in the process of finding a replacement board member.
When speaking about BlueSky, Dorsey voiced apprehensions over its path, pointing out that it seemed to be “making the same errors as Twitter did” and emphasizing that it fell short in providing genuine decentralization.
I’ve been following BlueSky’s development closely as a crypto investor, and I’ve grown frustrated with the recent departures from its initial mission as an open-source protocol. The team’s focus on building traditional company structures and implementing moderation tools seems to contradict the very essence of decentralization that attracted me to this project in the first place.
At first, BlueSky was designed as an independent protocol for social media platforms like Twitter to employ at their lower levels, aimed at reducing censorship issues. However, its transformation into a corporate entity, backed by investors, and governed differently went against Dorsey’s original intentions.
He expressed disappointment as the vision of decentralization and open-source protocol he held dear transformed into a corporation backed by venture capitalists and governed by a board. This was not the outcome he had envisioned or sought to bring about.
After parting ways with BlueSky and deleting his account, Dorsey expressed his preference for Nostr due to its decentralized nature and open protocol that opposes censorship and corporate control.
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2024-05-10 13:26