Bitcoin Payments Coming to Twitter?

The Breakdown

Nathaniel Whittemore

Investing, Business

4.8 • 786 Ratings

🗓️ 2 September 2021

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s episode, NLW takes a historical look at Silicon Valley’s relationship with Bitcoin. NLW explores why so many in Silicon Valley missed Bitcoin in the early days, why smart contracts made more sense to them (and fit with their funding model), and what Jack Dorsey’s support of Bitcoin all means. Finally, he uses that context to explain today’s leaked news that Twitter is building Bitcoin payments into its Tip Jar feature. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: farakos/iStock/Getty Images Plus, modified by CoinDesk.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big-picture power shifts remaking our world.
0:16.2	The breakdown is sponsored by Nidig and produced and distributed by CoinDes.
0:22.6	What's going on, guys? It is Wednesday, September 1st. Welcome to, if not fall, the beginnings
0:29.3	of the beginnings of fall. My favorite season, buy a lot. So today we're going to be talking
0:34.7	about Twitter, who is rumored to be bringing lightning payments to their app for tipping.
0:40.0	When I dug into this, however, I thought that it was really important to give some context.
0:45.3	We're entering into a moment of phase in this market cycle where you're likely to hear
0:49.7	a lot about how far behind Bitcoin is technologically, how fast everything else is moving.
0:56.8	Why none of the cool new things in crypto are being built on Bitcoin? You might already be
1:02.5	hearing some of that. I think it's really important to put this in historical context and also
1:08.5	to talk in terms of what the real goals of different crypto systems
1:12.5	are, and what the trade-offs they're willing to make for them.
1:16.1	To do that, let's go back a little bit.
1:18.9	We're used to seeing Silicon Valley as the beating heart of the consumer technology revolution.
1:24.1	The microprocessor came from there, as did the internet browser, Facebook and social media,
1:28.9	the mobile app revolution, on-demand everything. All of these things saw their genesis in Silicon
1:34.6	Valley. For those who haven't lived there or spent a bunch of time there, Silicon Valley already
1:39.1	has landmarks to innovators past. Bucks of Woodside, the famous breakfast spot where billions in venture deals
1:45.6	have been done. Sand Hill Road, which is synonymous with the offices of venture capitalists.
1:51.2	The original Twitter office in South Park in San Francisco's Soma, and so on and so forth.
1:56.7	The point is that Silicon Valley has history, iconography, legacy, and most importantly,
	...

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