DORSEY believes that Bitcoin must be fast and useful P2P money, not just reserve value. Block CEO says you have to innovate beyond Lightning Network. Jack Dorsy, the Block CEO, warns an analogy between the initial and turbulent stage of Bitcoin and adolescence. Of course, it is an asset that is barely 16 years old, it seems to him that he faces a crossroads: mature or disappear. In an interview broadcast on April 2 through the YouTube channel Pressido Bitcoin, Dorsy warned that without a practical purpose in our hands, the currency created by Satoshi Nakamoto could soon become a volatile memory. «It is normal to be volatile and chaotic, but if not mature, it will be forgotten.» Its greatest fear is that the obsession with the price and speculation drown its real utility.
«Success does not depend on Wall Street. In fact, institutional interest can even damage it if we forget that Bitcoin is an open protocol, not an ETF, ”he said.
«If Bitcoin ends up being just a reserve of value and nothing more, he will not gain relevance. People will buy it, keep it and only use it in emergencies. To survive, peer-to-peer electronic money must be, as Satoshi Nakamoto raised in the original Whitepaper ». Jack DORSEY, Block CEO.
His criticism points to a central problem such as Lack of adoption as daily use currency. While giants like Blackrock bet on Bitcoin as «digital gold,» Dorsy insists that their true potential is replacing Visa and Mastercard in fast, private and intermediaries payments.
Three pillars to save Bitcoin
So to prevent Bitcoin from disappearing, Dorsy says it is necessary to work in three pillars that he detailed as follows: scalability and speed: «It must compete with traditional networks. If it is not fast and cheap, people will not use it ». Privacy and security: «We need to improve these aspects without sacrificing decentralization.» Simple experiences: «People must feel their usefulness, not just read about it.»
While some celebrate their consolidation as a financial asset, Dorsy puts the focus on what really matters: that Bitcoin is daily money. Source: YouTube/Prison Bitcoin. In fact, his own team is working on projects dedicated to saving Bitcoin. In that sense, he highlighted projects such as Bitkey (BTC purse developed by Block) and the importance of integrating Bitcoin into circular economies in Latin America and Africa, where The digital currency is already used to buy coffee or pay services. «There is the key: when you stop talking about the price and use it without thinking,» he said. «If we have an open protocol for the transmission of money that works on the Internet anywhere, we can build our business everywhere,» he explained, underlining how these innovations not only benefit Bitcoin, but also their own company. Even so, Jack Dorsy acknowledges that the road will not be easy. Bitcoin's volatility, which at 16 years of existence remains significant, is an obstacle to its mass adoption as currency. «He is young, and anything that just begins It will seem volatile until people understand their use cases better«He said, comparing it to the turbulence of adolescence. His solution, he insisted, is to continue making it more accessible, private and safe, maintaining the principles that attracted the first enthusiasts.
Recently, Dorsey retweeted a message from Jameson Lopp that invited Bitcoin to again make a «punk» project as in the beginning when it was led by a community of idealists who wanted to empower individuals against traditional financial institutions. X/Jack.
Lightning is not enough: «We need more layers of innovation»
Dorsy did not avoid controversial opinions. He questioned excessive dependence on Lightning Network, the most popular scalability solution in Bitcoin: s. For him, the diversity of approaches is key to finding use cases that really connect with the needs of people. When the driver of the program, Haley Burko, asked what her most controversial opinion about Bitcoin, Dorsy replied:
«I don't know if it's controversial, but I think we can do better than Lightning. And it's not that Lightning is bad, it's just that it is challenging. Bitcoin is an incredible layer one, and I don't think we want to settle for having only one layer two. I think we need to experience much more and have different alternatives and play with them, because we never know what will work and there could be different cases of use that each of these second -layer alternative layers solves in a better way. Having more options, instead of being religious about only one, I think it will be the best for Bitcoin and the best to find people where they are, in terms of how to really use it for a daily use case ». Jack DORSEY, Block CEO.
He also criticized the role of the stablcoins: «They are useful as a bridge to Bitcoin, but If they are controlled by corporations, they lose the decentralized essence ».
Additionally, Dorsy imagines a future in which Bitcoin intersects with artificial intelligence and autonomous agents that make transactions for us. «Do we want that to happen in corporate financial networks or in a network that belongs to the Internet? I think we want the second, ”he said. This vision, combined with its support for projects such as Nostr – the decentralized social network that uses Bitcoin for micropagos – reflects its commitment to a digital ecosystem without permits, reminiscent of the initial Internet days. He also gave advice to the newcomers to the world of Bitcoin: «They do not think too much, play and experience. Do not follow a single way because they believe it is correct, but because they see a void they want to fill. Then, he left a final message for everyone: «Bitcoin's special is that you don't need anyone's permission to build what you want. That is incredible. In just 16 years he has caught the attention of giants like Blackrock, and you still don't need his approval to improve it ».
