Future Of Global Finance
Bitcoin futures explained: Jack Dorsey, the brains behind Twitter and Square has once again expressed his support for cryptocurrencies in his most recent interview. Dorsey predicted that Bitcoin will be the only currency used for internet transactions in the coming five to ten years. Speaking with the British publication, The Times Dorsey said that even with the value slump that Bitcoin has been experiencing for the past couple of months, he sees no discernible long-term problem for the crypto powerhouse.
In his view but coin will not only make a comeback but also seep into the market to the point that it will be usable for facilitating everyday transactions such as buying a pack of cigarettes or a cup of coffee. He went on to add the world ultimately will have a single currency the internet will have a single currency, I personally believe that it will be Bitcoin.
While the shift may take place over a period of 10 years, it definitely is a big possibility wild or sea remains realistic and acknowledges that bitcoin is still fairly expensive and slow in its overall functionality, such challenges can easily be sorted out as an adoption of the currency increases globally.
He went on to add that with the amazing amount of innovation that is coming from within the blockchain sector, it is only a matter of time until someone designs a scalable platform that will help make the adoption process quicker and more efficient.
To Maximize the efficiency
Dorsey as vested interests just last week Dorsey announced that he was investing in a start-up called lightning labs for readers who don t know about this venture. Lightning Labs has developed an all-new open protocol layer on top of the existing Bitcoin blockchain.
It not only allows for faster transaction speeds but also helps maximize the efficiency of the various network nodes deployed by the system additionally, the or CS other big project square allows users to trade Bitcoin, using it Kashyap not only that square was also one of the first platforms to facilitate real-time vtc transactions.
But due to the volatility of Bitcoin the service was short-lived.
Final thoughts even though an endorsement of this sort has been welcomed by the crypto community at large the fact that Twitter is planning to ban ICO and crypto ads is not only surprising but also very confusing following Facebook and Google s decisions to ban such as it will be interesting to see if Dorsey a lifelong supporter of crypto caves into federal pressure and blocks ICO related s from his social media blockchain experts respond to Twitter s looming ban on cryptocurrency ads cryptocurrency is a very controversial topic these days. Various companies are trying to take evasive action to avoid dealing with this type of money. Twitter seems to be the next company to get rid of cryptocurrency advertisements altogether some industry experts do not take kindly to this development for obvious reasons, Twitter doesn’t he like cryptocurrency ads it has become painfully obvious that most technology giants and social media networks want nothing to do with cryptocurrency.
Social Media Giants Bans Cryptocurrency ad
In their opinion this new industry is subject to a lot of scams risks and Ponzi schemes while it is certainly true that things are not always rosy when it comes to cryptocurrencies weeding out the illicit projects is not all that difficult these days, even so big companies tend to take a harsh course of action for some reason Twitter is joining the likes of Google and Facebook in cracking down on cryptocurrency advertisements, this decision is not all that surprising even though it does come at a quite worrisome time for the cryptocurrency industry as a whole with all markets suffering from immense volatility due to regulatory pressure. These moves will not help the industry by any means, it is unclear why these companies would rather ban any that doesn’t fit their narrow-minded business models, and actively look for viable solutions which benefit everyone crowd machine’ founder and CEO Craig Spruill commented on this development, as follows as the crypto the community continues to grow on Twitter telegram and discord so do the pervasive scams that seek to take advantage of people interested in the space as a company with legitimate offering.
The positive impact in the long run
Even though some of the people who originally got involved with Twitter remain confident that Bitcoin and other cryptocurrencies will make a positive impact in the long run. The company s intention seems rather clear in this regard it is an unfortunate turn of events. It will be interesting to see if this turns out to be a smart decision. Coin list CEO Andy Bromberg had this to say: there is a tremendous number of low-quality projects in the
cryptocurrency space frauds scams and poorly thought-out concepts, this early in the industry.