Part 2 Twitter’s moves in Bitcoin

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Jack Dorsey, CEO of Twitter, is on file as a Bitcoin fan. As such he’s additionally a fan of Lightning Community and on June 11 he tweeted that “it is just a matter of time” to combine the Lightning Community into Twitter.

For extra on Lightning Community, see our 4-part sequence

It is a radical stance for the  CEO of a publicly traded social media enterprise with a market cap over $50 billion and the implications are important.

Twitter, a centralized system,  and Bitcoin, a decentralized system, would make odd bedfellows. Which brings us to Bluesky, Twitter’s decentralized social community mission which Jack Dorsey has billed as a “normal for the general public dialog layer of the web.”

It is a basically totally different strategy from Mark Zuckerberg and Fb Diem:

  • coopting Bitcoin slightly than creating a company foreign money.

 

  • making a decentralized social community slightly counting on centralized governance.

There are two doable takes on this:

Both,  unfavourable = two large goals – Lightning Community and Bluesky – don’t make actuality.

Or, constructive = Twitter are not off course they usually know easy methods to get there.

My take is constructive. Re the unfavourable, we will have to attend and see in the event that they execute properly.

Bluesky at the moment seems like a mashup of three well-known decentralized programs:

  • ActivityPub, which powers the social community Mastodon
  • XMPP, the messaging normal which powers WhatsApp 
  • Stable, a decentralization mission led by World Extensive Net creator Sir Tim Berners-Lee.

Think about in the event that they pull this off. Creators will transfer to Bluesky as they don’t just like the management and costs of centralised programs. Then Twitter monetise by way of funds over Lightning Community.

Some topics are too advanced for our quick consideration spans, so we do 4 posts one week aside, each quick sufficient to not lose your consideration however in mixture doing justice to the complexity of the topic. Keep tuned by subscribing.

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