Twitter Battle Royale: Dorsey vs. Ethereum Advocates
In the wild west of cryptocurrency, Twitter has often served as the battleground for industry heavyweights. Recently, the spotlight turned to Jack Dorsey, the co-founder of Twitter and a vocal supporter of Bitcoin (BTC), when he answered ‘yes’ to the question of whether Ether (ETH) qualifies as a security. This sparked a digital ruckus, drawing attention from various corners of the crypto community.
Udi Wertheimer’s Clown Comment
Udi Wertheimer, known for his involvement in Bitcoin Ordinals at Taproot Wizards, didn’t hold back. He deemed Dorsey a “clown” in a tweet, sparking the flames of a Twitter feud. Dorsey, not one to shy away, shot back with a witticism that questioned the status of ETH as a security. He cleverly invited anyone to educate him further, leaving the door open for more ridicule.
Gensler’s Take on Ether
In an unexpected twist, Wertheimer countered with a five-year-old video featuring SEC Chair Gary Gensler, who declared that ETH was “sufficiently decentralized” and, thus, not a security. This quick throwback brought a revelatory moment to light, causing the online skirmish to heighten in intensity.
Ethereum’s Transition and Legal Ramifications
Gabor Gurbacs, a strategy adviser for Tether and VanEck, stepped into the fray to assert that Ethereum’s recent shift to a proof-of-stake model might have reignited the conversation about securities laws. His comments came hot on the heels of SEC lawsuits against major players like Binance and Coinbase for allegedly dealing in unregistered securities.
Dorsey’s Bitcoin Loyalty
In true Dorsey fashion, he didn’t stop at the banter. He endorsed a 2015 tweet from Coinbase CEO Brian Armstrong that labeled altcoins as distractions, signaling where his loyalties lie. He continued to amplify Bitcoin’s efforts by sharing a video of Jack Mallers voicing concerns over Armstrong’s focus away from Bitcoin development.
Reflection on Dorsey’s Ethereal Past
Interestingly, Dorsey has a history with Ethereum that’s anything but straightforward. Back in 2021, when Twitter was dabbling in NFTs, the company sold 140 Ethereum-based tokens. Yet, Dorsey famously snubbed the idea of investing in Ether itself, downplaying Ethereum’s potential to disrupt the tech sphere. It’s almost as if he’s playing a game of ‘keep-away’ with the very asset that spawns endless debates.
Looking Ahead: Dorsey and Decentralization
Fast forward to today, Dorsey is not just a spectator; he’s advocating for a decentralized project called Nostr, often referred to as a potential “Twitter killer.” This platform integrates Bitcoin payments through the Lightning Network, offering a glimpse into Dorsey’s vision for the future of decentralized communication. The narrative surrounding Bitcoin versus Ether continues to evolve, and with Dorsey at the helm, it promises to remain exciting.
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