Will Bitcoin become a relic in a few days? Priceless as it is, most investors are whispering this concern nowadays. Jack Dorsey’s recent interview triggered the same threat, all over again.
The ex-Twitter boss said that soon BTC will not have any resonance with daily transactions.
With that he kindled another possibility- could Twitter abandon their in-house altcoin and start using Bitcoin as their native payment mode?
Signal’s Current Position on Crypto
From 2021, Signal, the native platform, has been offering a payment gateway, powered by Sentz. It is a private crypto coin, most compatible for mobile transactions. However, there are a lot of grey areas around the coin.
A series of suspicious gains in recent times ignites the suspicion. Moreover, there is no transparency in the way Signal coins are distributed.
The main Issue Around BTC
The consensus around BTC’s best features does not appeal to Dorsey. He feels that it is a meaningless giant! He further added that- “It BTC doesn’t become a daily payment gateway, BTC becomes a useless asset.
You buy it and then forget about it. And you use it only during an emergency. That’s where the coin fails to be functional.”
So long as BTC remains the popular digital ingot, it goes against Satoshi’s white paper. He meant BTC to be an electronic cash. Instead, it remains as a mere green line in a frozen wallet.
Altcoins Following a pro altcoin strategy
Various platforms choose their desired altcoins as the banner coin. For example, Telegram supports Toncoin. Meta, on the other hand, is a fan of Libra and then laid hands on Diem.
The Bottom Line
If we’re talking investments, what coin should you go with? BTC, other popular coins or digital gold? If we take Dorsey’s views as a standard criticism, then it’s worth saying that BTC is a redundant currency.
It is not suitable for daily use. Until someone breaks the supremacy of altcoins, BTC will remain like this!
