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Twitter Founder Jack Dorsey's Statement on Bitcoin: It Could Fail This Way! - Coin Bulletin
Block CEO Jack Dorsey stated that Bitcoin could fail if it is only used as a store of value and that the focus should be on using it for daily payments.
Dorsey reminds us that the fundamental purpose of Bitcoin is "peer-to-peer electronic cash system" and argues that this vision has been strayed from. According to him, using Bitcoin solely for the purpose of value storage could lead to negative consequences in the long term. For this reason, Dorsey emphasized the need to develop fast, private, and secure payment solutions.
Dorsey stated that the main purpose of Bitcoin's design is to facilitate daily payments. However, over time, as Bitcoin's value increased, most people began to see it merely as a store of value. This change could limit the potential of Bitcoin, leading to its deprivation of broader areas of use.
Dorsey states that in order for Bitcoin to compete in the rapidly evolving financial world, it is necessary to focus on payment systems while staying true to its original vision.