Sunday, January 16

The cryptotwitter week: Web 3 bullshit, Bukele buys BTC and redemptions on OpenSea | Bitcoin Portal

Since last week was Christmas, Crypto Twitter wasn’t loud and polyphonic as usual. There were fewer ads, attacks and gossip than usual.

But a debate dominated the conversation: Former Twitter CEO Jack Dorsey criticized Web 3 venture capitalists and had Elon Musk as his ally. And it all happened after Cardi B asked his followers a harmless question.

Jack vs. web capitalists 3

Undoubtedly, Cardi B sparked the war of words over Web 3 between Jack Dorsey and venture capital firms like Andreessen-Horowitz (a16z).

It all started on Tuesday (21), when Cardi tweeted a simple question to its 20 million followers: “Do you believe crypto will replace the dollar”?

Dorsey, a staunch bitcoin maximalist (BTC), responded seven minutes later, “Yes, bitcoin will” (bitcoin, not cryptocurrencies).

Dorsey hadn’t just made a distinction between bitcoin and the rest of cryptocurrencies.

Three hours later, he returned to Twitter and declared: “You don’t have ‘Web 3’. the VCs [capitalistas de risco] and your LPs [fornecedores de liquidez] possess it. You will never escape your incentives. In the end, it is a centralized entity with a different name.”

The tweet drew many experts into the fray, including the founder of Rug Radio Farokh Sarmadh, the co-founder of dogecoin (DOGE) Billy Markus and the CEO of Tesla Elon Musk. Musk had initially sided with Dorsey: “Has anyone seen Web 3? I can’t find her.”

Dorsey continued arguing with people until last Thursday (23), without going back.

On Wednesday (22), the also CEO of Square tweeted that he had been locked by Marc Andressen, co-founder of a16z, the company behind almost every crypto startup today.

Dorsey too Stop following several big names in the industry, including Gemini co-founder Tyler Winklevoss and Coinbase CEO Brian Armstrong.

It wasn’t just Web 3 that was being criticized by Dorsey. He also managed to insult Ethereum. At one point, NFT creator Rahilla Zafar accused Dorsey of being antiethereum.

Dorsey denied the charge, qualifying her view: “I’m not anti-ETH. I’m corporate anti-lie, controlled, centralized, owned by VCs and with a single point of failure. If your goal is anti-creation, I promise you it’s not Ethereum.”

the co-founder of dogecoin Billy Markus was offended by Dorsey’s bitcoin maximalism and contributed to the discussion: “My goal is to create things and earn money and have fun. I’m used to corporate creation and don’t see a significant break from it. Bitcoin only empowers new rich people.”

Musk praised Markus to the interact: “That’s why I’m pro-doge.” Dorsey replied to comment of Musk with more praise for bitcoin, but Musk didn’t respond.

bukele buys more bitcoins

Dorsey’s “tweet” was quite scandalous, but not nearly as outrageous as a state leader announcing to his followers at random times that he has bought even more bitcoins.

This can be interpreted as a financial tip. And that’s exactly what El Salvador president Nayib Bukele, known for boosting bitcoin, did several times.

Bukele gave a little hint from his newest ad last Tuesday (21): he enigmatically shared the fact that his country has an area of ​​21,000 square meters. “Coincidence? I think not!”

Things got clearer an hour later. Bukele told his followers he planned to buy 21 BTC to commemorate the 21st day of a month of the 21st year of the 21st century (the last time he bought it, in October, he made a joke with cannabis).

OpenSea users earn their SOS

On Christmas Eve, as the crypto environment was relatively quiet, OpenDAO had the opportunity to make some noise.

DAO, which claims to have been formed in an attempt to reward OpenSea users for their spending and suffering from various scams, has distributed (or “airdropped”) new SOS tokens to anyone who had spent money on OpenSea before the day December 23rd.

You can redeem your SOS by going to the OpenDAO website, connecting your crypto wallet and clicking “start redeem”. Your SOS amount will depend on how much ETH, DAI or USDC you spent on OpenSea. That number will be made up of a multiplier.

And SOS quickly multiplied. The token rose more than 1,000% in just two days and became the subject of Crypto Twitter on Sunday (26).

Alexis Ohanian, co-founder of Reddit and collector of NFTs, has published a series of tweets about SOS distribution, claiming it is an example of “how EVERYONE will value their time and money online… You will finally be rewarded for using it. there. Because everything is in a public database. Allows anyone to show up and reward the behavior stored there.”

All in all, it’s been a quiet week on Crypto Twitter until Christmas, and now you can expect there to be a lot more debate about SOS this week.

*Translated and edited by Daniela Pereira do Nascimento with permission from Decrypt.co.





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