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Block Inc and Robinhood CEOs engage in Twitter battle

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Block Inc and Robinhood CEOs engage in Twitter battle


The back-and-forth began when Robinhood CEO Vladimir Tenev took to Twitter to express his views on Dogecoin's potential in the future.

Twitter Co-founder Jack Dorsey and Robinhood CEO Vladimir Tenev engaged in a brief Twitter war over Bitcoin's transaction fees. The back-and-forth began when Tenev took to the microblogging platform to express his views on Dogecoin's potential in the future.
His first tweet read: "Can #Doge truly be the future currency of the internet and the people? As we added the ability to send/receive DOGE on Robinhood, I've been thinking about what that would take."

In a follow-up tweet, he said that Dogecoin could outperform Visa with respect to transaction speeds. He predicted that Dogecoin's transactions speed would eventually surpass the 65,000 transactions per second (TPS) that Visa is presently capable of achieving. This is despite the fact that Dogecoin has a current TPS speed of just 40.
"Doge would need to be able to significantly outperform Visa, which entails increasing throughput by at least 10000x," he wrote.
He explained that Dogecoin only needs to increase its block size from 1MB to 1GB to boost its transaction speed. The transaction speed of blockchains like Ethereum and Bitcoin has been a hot-button topic for years. They have considerably slower TPS speeds than standard digital payment services like Visa and Mastercard, presenting a significant hurdle in the mass adoption of these cryptocurrencies.
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Tenev also addressed criticism around Dogecoin's inflationary nature. He stated that while the meme coins is an inflationary asset due to its infinite supply of coins, its inflation rate is still less than the US dollar.
He concluded the thread by addressing Dogecoin developers, "Dogecoin core devs, I would focus on one thing: coming up with a good process for increasing the block size limit over time. Let me know what you all think!"
Twitter and Dorsey's reaction to the tweets
The Doge community was pleased with the series of tweets. The thread even got appreciation from Elon Musk, who has been a Doge supporter for a while now. But some facets of Twitter felt otherwise. Many said that Tenev praised Doge only because Robinhood has been highly dependent on the meme coin for its revenue and profits.
Co-founder of Twitter and current Block CEO Jack Dorsey is an ardent supporter of Bitcoin. He has even claimed that the oldest cryptocurrency has the power to unite the world. Perhaps this is what caused him to hit out at Tenev's views on Dogecoin becoming the internet's top cryptocurrency.
He replied to Tenev's final tweet, saying, "u thirsty?" triggering a short war of words. Tenev fired back with "U mad?" to which Dorsey replied, "nah i'm good i don't use Robinhood." The spat concluded with Tenev getting the final word by replying, "you would pay less for your bitcoin if you did!"
Doge's moment
Along with Tenev and Musk, another prominent crypto figure has recently sung Dogecoin's praises. FTX exchange CEO Sam Bankman-Fried laid out his vision of a decentralised Twitter in a series of tweets. He said that Twitter should charge a cent for tweets and suggested hosting ads on the user interface to pay network fees.
The tweets culminated with him saying, "sure, why not DOGE," along with a meme of Doge taking over the global financial system. His tweets hinted at the possibility of on-chain version of Twitter, backed by Dogecoin payments.
At the time of writing, Dogecoin was trading at $0.137, down by 4.81 percent in the last 24 hours. However, trading volume stood at $957 million, up by 96 percent in the same period.