The Block Head Promotes himself to Bitcoin Missionary
Bitcoin and crypto FOMO is getting wild.
A honest man has Bitcoin in the eyes - anonymous.
Hey Guys,
This is Crypto Bulls Premium.
I’m going to have to learn to be more positive about Bitcoin and its 1% elite community. I’ll get there eventually but for the moment, hear me out.
Jack Dorsey has done good things with Square, with Twitter not so much. He owns a lot of Bitcoin, so he’s really incentivized to make it more accessible to spur his fortunes. Just another honest tycoon out of Silicon Valley who wants Bitcoin to uplift the poor and a very collaborative Block Head.
Now the Pioneer of Web5
Jack Dorsey’s Block – has launched an “extra decentralized web platform” called “Web 5”. The platform’s goal is to decentralize data storage and put users back in control of their identity – by leveraging the Bitcoin blockchain.
If Huawei 5G turned out to be a scam, and Web3 has barely matured in 13 years, how are we jumping to Web5? Okay okay, let’s say that Web4 is the Corporate Metaverse, he might have a point here.
In the thirteen years since launching, Square has grown into a $50 billion-plus financial powerhouse. While Bitcoin hasn’t really done the same as an ecosystem Maverick and a new asset class with sounds fundamentals, at least visionaries can envision, after all Block Heads maybe have been converted by extremely easy wealth acceleration?
Coinbase Cuts 18% of Workforce
It came out today that Coinbase “grew too quickly” and will have to cut about 18% of its staff. Its stock is down 80% so far this year.
It seems Mr. Armstrong also had “Block Head” tendencies. CEO Brian Armstrong pointed to a possible recession, a need to manage costs and growing “too quickly” during a bull market.
“We appear to be entering a recession after a 10+ year economic boom,” Armstrong says. “While it’s hard to predict the economy or the markets, we always plan for the worst so we can operate the business through any environment.”
If you had planned for the worst, would you have over-hired?
Coinbase joins Blockfi and Crypto.com who have started to cut positions this week.
TechCrunch notes in a funny way, while Elon Musk has shitposted his way to crypto sainthood, Jack Dorsey has been spreading the blockchain gospel far more earnestly than most.
What will the Stripe generation of GenZ and Alpha have to contend with in an crypto regulated world? Will each Bitcoin bull market spark the zeal of FOMO schemes, pyramid schemes and the usual fraud we had in the last 8 Bitcoin bull markets? Is this the future of investing?
Jack has a Bitcoin Missionary has its own peculiar logic though the Former Twitter CEO Jack Dorsey called the new platform ‘Web5’, a combination of Web3 and Web 2.0, built on the Bitcoin blockchain. 2+3 oh now I get it!
Coinbase will be letting go of literally 1,000 jobs in the 18% move. The stock is down 6% pre-market. Read the comments on Twitter, the Medium blog is “down” for me.
Jack As Bit-Missionary
If the internet created a religion, it has to be Crypto and the Prophet is Bitcoin.
At a bitcoin-centric conference in Miami this year, Jack Dorsey was his usual lavish self with his praise: “For me Bitcoin changes absolutely everything. What I’m drawn to the most about it is the ethos, is what it represents, are the conditions that created it, which are so rare and so special and so precious. I don’t think there’s anything more important in my lifetime to work on and I don’t think there’s anything more enabling for people around the world.”
The crypto overlords really have talent for laying it on thick.
Hey let’s just enslave Black people with Bitcoin FOMO. Hip-hop mogul Jay-Z and Block CEO Jack Dorsey are teaming up to take Bitcoin and financial education to the rapper’s childhood home. I’m not even joking, this actually happend.
The program aims to “provide education, empower the community with knowledge” about how to manage their finances with a focus on Bitcoin — which the Bitcoin Academy website proclaims to be the “future of money.”
Well Bitcoin certainly has a future to make the elite even more powerful, not so sure about free money for the poor?
The Block Head has also told his Square company the importance of laying down at the Bitcoin Idol. Recent initiatives at Square have included a hardware wallet to store bitcoin and the exploration of building a dedicated bitcoin mining system. The Cash App is nearly reaching a super-app status for how Square’s future is bright. The app is ranked #1 in Finance and high on the overall list as well.
Jack Dorsey is the Head of Block, the one true Block Head. Block (formerly called Square) is an incredible company that operates an FDIC-insured bank, consumer payments platform, offers stock and cryptocurrency trading and has made a number of high-profile acquisitions. It’s actually very linked to the health of small businesses and is now becoming a well-diversified business.
But Jack’s Bitcoin’s ambition seems tainted.
For platforms with a multitude of unsolved and often pressing issues, Dorsey’s seemingly unilateral public focus on the revolutionary power of bitcoin hasn’t always sat well with onlookers. He realistically barely did anything with Twitter in terms of product innovation in the last decade. Now that he’s free from that downer, he can be a total optimist from his high-towers in Silicon Valley’s heartland.
He can plot with other Billionaires the mechanisms of milking Bitcoin for the highest ROI for those that matter. He can pretend to find a16z and VCs selfish in the space. While he does the same thing or even worse in terms of profiteering from being a missionary of the new crypto religion.
While Web 5’s monetary layer will be built on the foundation of Bitcoin, the other technologies underpinning Web 5 are borrowed from myriad areas of cryptography and computer science.
The Extra Decentralized Web - Welcome to Web 5
I cannot make much sense of the website, perhaps you will have better luck: https://developer.tbd.website/projects/web5/
What is marketing and what is the actual product? Does it look like DoS on purpose?
The web democratized the exchange of information, but it's missing a key layer: identity. We struggle to secure personal data with hundreds of accounts and passwords we can’t remember. On the web today, identity and personal data have become the property of third parties.
Web5 brings decentralized identity and data storage to your applications. It lets devs focus on creating delightful user experiences, while returning ownership of data and identity to individuals.
Wow sign me up! This sounds futuristic Jack. I definately want software development folk to help build a world with join ownership that’s open-source, transparent and owned by Tycoons.
Thanks for reading guys!