Market Profile Strategies - Jack Dorsey Sparks Debate on Coinbase’s Bitcoin Management

Market Profile Strategies

Dec 30 2023 • 0 seconds

Jack Dorsey’s Twitter dispute regarding Coinbase’s apparent management of Bitcoin and the Lightning Network raised issues about the platform’s commitment to innovation. Coinbase CEO Brian Armstrong addressed the concerns by noting that they are actively studying Lightning Network integration and its benefits. He also believed in Bitcoin’s huge payment potential. The Lightning Network solves scalability difficulties and speeds up and lowers Bitcoin transactions as a second-layer protocol. Coinbase’s acknowledgement of its utility shows its commitment to Bitcoin innovation in the industry. Armstrong said that Coinbase has introduced more people to Bitcoin than any other company. This demonstrates their dedication to promoting cryptocurrency acceptance and accessibility in the market. We’re looking into how to best add Lightning. It’s non-trivial, but I think worth doing. I’m all for payments taking off in Bitcoin. Not sure why you think we’re ignoring Bitcoin – we’ve onboarded more people to Bitcoin than probably any company in the world. Let’s build it… https://t.co/9dFGYd6XZt — Brian Armstrong 🛡️ (@brian_armstrong) August 2, 2023 The two chief executive officers of both companies ended their talk in a pleasant tone. They emphasize their support for cryptocurrency partnerships. Coinbase’s pursuit of Lightning Network integration shows its commitment to staying at the top of the cryptocurrency market. Dorsey has attacked Ethereum and Solana’s centralized governance and corporate involvement. He proposes settling Bitcoin transactions using the Lightning Network, which is instant and free. During the Bitcoin memecoin craze in May, when transaction fees exceeded $30, the Lightning Network stopped working and was sluggish. Binance used Bitcoin’s Lightning Network to avoid base layer fee increases, however, withdrawal requests were delayed. In contrast, Coinbase has not yet conformed to the aforementioned trend, despite receiving requests from Bitcoin enthusiasts such as Michael Saylor, the CEO of MicroStrategy. Spiral, Dorsey’s payment startup, created tools to let developers integrate the Lightning Network into their apps. Furthermore, the payment service known as CashApp has already incorporated Lightning, a commonly utilized feature. These discussions and developments highlight the need to balance technological innovation, such as the Lightning Network. It is also global investor demand for stablecoins. The trajectory of Bitcoin transactions in the future will be conditional upon the identification and establishment of a shared foundation among these variables. In conclusion, the discourse underscores the importance of investigating nascent technologies. It includes the Lightning Network to enhance the functionalities of Bitcoin and facilitate its extensive acceptance. Through collaborative efforts and innovative approaches, the community involved in cryptocurrencies has the potential to collaboratively establish a financial environment. It will also feature fairness and equality in the years to come.



SOURCE : https://tradertalks-net.translate.goog/s/13995?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

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