Brand Stamina of Bitcoin Is Spectacular and it is a Household Name AlreadyFebruary 12, 2019
Jack Dorsey, CEO of Twitter has to state that no cryptocurrency will ever beat Bitcoin.
In a recent Episode of Stephen Livera Podcast, he stated that the principles behind Bitcoin were appealing to him. The pseudonymity factor, he opined made him feel the very internet in the Bitcoin, therefore, reported: “It’s very principled; it has a strong point of view.”
As a member of the hacking community at St. Louis Missouri, he opined, “The whole thing feels very native to the internet ideals, and that in reality appealed to be a lot. This thing was ideated on the internet, and therefore created on the internet, released on the internet, and then continues to be developed throughout the internet.”
The protocol for BTC blockchain according to Dorsey is from Blockstream, a for-profit company. Blockstream with Lightning Labs are developers of the Lightning Network.
Lightning Network is the Protocol for the BTC blockchain. This protocol re-imagines the original ideals of Satoshi Nakamoto’s famous whitepaper. The brand strength of Bitcoin is currently unparalleled.
The brand stamina of Bitcoin is very spectacular. It provides a lot of resilience. It is a mainstream concept that is well-known to many households. While everyone might not know what Bitcoin might be for, they all know that it is digital money, digital currency, or digital asset.
Dorsey was questioned of why he was focusing so hard on Bitcoin when there are several other cryptocurrencies in the market. He replied implying, there are several interesting ideas elsewhere, but all of those dreams can be integrated to Bitcoin if they do have merit that is above the bar.
BTC according to him is the token that wants to be the currency when compared to most of the other cryptocurrencies which are looking to be several additional general purpose things and distributed computing.
Since Dorsey is one of the investors in Lightning Labs, it is not easy to tell if the appreciation of the technology behind Bitcoin is genuine. Since he was on a Podcast in which he was to talk about the Bitcoin-specific Cash App while sitting next to the CEO of Lightning Labs. In such a scenario, being an investor himself, it would be impossible for anyone to talk positively about anything other than Bitcoin.
Even mentioning another cryptocurrency will be like they are talking against their product. An average Joe listening to such a podcast believes it is an impartial opinion. However, we are yet to witness if Jack Dorsey will help Bitcoin get mainstream.