- Crypto enthusiasts debate the best option between BTC & XRP for Twitter payment.
- An investor said BTC handles instantaneous, global micro-transactions at scale.
- A blockchain lawyer described the opinion as demonstrably wrong.
The crypto community enters a contentious argument about which token Twitter may integrate into its database to function as a payment app.
Crypto investor @APompliano argued that Bitcoin is the only payment that can handle instantaneous, global micro-transactions at scale. Many Twitter users countered this claim and contended that the native Bitcoin blockchain could only process seven transactions per second.
If @elonmusk really wants to turn Twitter into a payments app then Bitcoin is the only payment network that can handle instantaneous, global micro transactions at scale. Twitter tipping already allows users to send USD or BTC over the Bitcoin network, so natural extension.— Pomp (@APompliano) November 5, 2022
Blockchain lawyer John E Deaton described APompliano’s opinion as demonstrably wrong, adding that Twitter had used Ripple’s native token (XRP) for micropayment for years before BTC. To avoid being called an XRP fanboy, Deaton declared that he held more Bitcoin tokens than XRP and was only trying to state factual arguments about Ripple.
I’m not sure why people say things that are demonstrably not true. And before the haters call me an #XRP Maxi, I have a larger investment in #Bitcoin than #XRP. I don’t know why people ignore the fact that #XRP was being used as a micropayment ON TWITTER several years before #BTC https://t.co/vWELrQFbNR— John E Deaton (220K Followers Beware Imposters) (@JohnEDeaton1) November 5, 2022
The crypto lawyer also revealed that in the past, he presented a document before a judge explaining that holders of the XRP tokens have been utilizing it as a peer-to-peer decentralized payment system ever since, including on Twitter.
Furthermore, Deaton shared details of a multi-platform application called XRP TipBot. The software monitors social media posts on Twitter, Reddit, or Discord and allows users to send another person XRP.
However, in 2020, Twitter banned TipBot. The crypto lawyer believed it was because the former CEO of Twitter, Jack Patrick Dorsey, supports Bitcoin and the Lightning Network, a layer-2 solution of Bitcoin.
XRP is the third largest altcoin with a nearly $25 billion market cap. It currently trades at $0.4903, with a 6% increase in the last seven days. Bitcoin, on the other hand, gained only 2.71% in the previous seven days.
The post Crypto Community Debate Whether Twitter Should Adopt BTC or XRP appeared first on Coin Edition.