The crypto community is having a heated debate about which token Twitter should add to its database so that it can be used as a payment app.
@APompliano, a crypto investor, said that Bitcoin is the only way to pay that can handle instant, global, small-scale transactions at scale. Many people on Twitter disagreed with this and said that the native Bitcoin blockchain could only handle seven transactions per second.
If @elonmusk really wants to turn Twitter into a payments app, the only payment network that can handle instant, global microtransactions at scale is Bitcoin. Users can already use Twitter tips to send USD or BTC over the Bitcoin network, so it makes sense to add this feature.
— Pomp (@APompliano) November 5, 2022
John E. Deaton, a blockchain lawyer, said that Apuliano’s opinion was clearly wrong. He also said that Twitter had been using Ripple’s native token (XRP) for micropayments for years before ancoin. So that he wouldn’t be called a “XRP fanboy,” Deaton said that he owned more Bitcoin tokens than XRP and that he was only trying to talk about Ripple facts.
I don’t understand why people say things that aren’t true. And before the haters call me an “XRP Maxi,” I have more invested in Bitcoin than in XRP. I don’t understand why people don’t care that #XRP was used as a micropayment on Twitter years before #BTC. https://t.co/vWELrQFbNR
— John E. Deaton (@JohnEDeaton1), who has 220k followers, on November 5, 2022
The crypto lawyer also said that he had told a judge in the past that people who owned XRP tokens had been using them as a peer-to-peer, decentralised payment system ever since, even on Twitter.
Deaton also talked about an app called XRP TipBot that works on multiple platforms. The software watches social media posts on Twitter, Reddit, and Discord and lets people send XRP to each other.
But in 2020, Twitter said no more to TipBot. The crypto lawyer thought it was because Jack Patrick Dorsey, the former CEO of Twitter, backs Bitcoin and the Lightning Network, which is a layer-2 solution for Bitcoin.
With a market cap of almost $25 billion, XRP is the third largest altcoin. It trades at $0.4903 right now, which is a 6% rise in the last week. Bitcoin, on the other hand, only went up by 2.71 percent in the past week.
The post People in the crypto community argue about whether Twitter should use BTC or XRP first appeared on Coin Edition.