Bitcoin [BTC] and Ethereum [ETH] have different niches, says Andreas Antonopoulos

Andreas Antonopoulos, a Bitcoin expert and author of ‘Internet of Money,’ discussed the contrasting use cases and goals of Bitcoin and Ethereum …

Andreas Antonopoulos, a Bitcoin expert and author of ‘Internet of Money,’ discussed the contrasting use cases and goals of Bitcoin and Ethereum blockchains in a recent interview. He said that the two blockchains’ use cases cannot be performed by the other.

“Essentially the two systems ETH and BTC evolved in divergent directions and they can occupy different niches but they can’t actually occupy the same niches at the same time.”

Even though maximalists from both sides urge that the use cases of one can be performed by the other blockchain, Antonopoulos claimed that it was ‘meaningless.’ He admitted that any blockchain with a different use case can only achieve this partially, and not outperform the original blockchain.

Bitcoin, which strives to become global money, is vastly different from that of Vitalik Buterin’s Ethereum, Antonopoulos said. He asserted that the latter’s core was different from that of the former, not in terms of application, but in terms of design choices and engineering of the two blockchains. He said,

“It’s in its DNA, the two systems have been evolved, not in the random mutation but a direct evolution perspective.”

The author further suggested that the initial design decisions and trade-offs made for Bitcoin facilitated the blockchain to become a very “robust, secure, nation-state resistant, a censorship-resistant form of global money.”Antonopoulos further added that this subsequently attracted a particular set of individuals to come forward with the same vision, strengthening the existing design trade-offs in that direction.

Talking about the design trade-offs in Ethereum, he said that the ETH blockchain was built with “an unconstrained software engineering mentality.” According to him, the developers were looking to address a “broader set of problems to solve.” The design trade-offs for this attracted a different set of people in comparison to Bitcoin.

The author also said that building a trade-off in Ethereum required its own blockchain for it to be meaningful. He also suggested that issues such as scaling in the ETH blockchain were much harder than that for BTC.

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Twitter CEO Jack Dorsey Snaps Up Trezor To Store Bitcoin (BTC)

It is presumed he bought the device to store the Bitcoin that he has recently begun to accumulate, in seeming preparation for the next bout of mass …

Dorsey Looks To Secure Bitcoin (BTC) Stash

Twitter and Square CEO Jack Dorsey is back to shilling the cryptocurrency space yet again. Most recently, Dorsey took to his personal feed to reveal that he bought a hardware storage device from Trezor, a leading cryptocurrency wallet provider, through the Cash App, a Bitcoin-friendly project that he headed.

In a tweet, he revealed he spent 0.06639… BTC on the device, with reports claiming that this implies he bought a Trezor Model S (no, not a Tesla).

Just bought a ⁦@Trezor⁩ hardware wallet with bitcoin through

— jack (@jack) March 7, 2019

It is presumed he bought the device to store the Bitcoin that he has recently begun to accumulate, in seeming preparation for the next bout of mass adoption.

Interestingly, Dorsey hinted at the reasoning why he chose a Trezor instead of a Ledger device. In response to a point about the fact that the France-based Ledger’s software is proprietary and not fully open-source, the Twitter CEO replied with “This.” Funnily enough, the team at not Dorsey-endorsed wallet creator, whose CEO called for an extended crypto winter, issued a response.

They wrote that offering open-source software isn’t the silver bullet, but made it clear that they are appreciative of signal boosting that Dorsey has done for Bitcoin in recent weeks.

An Ongoing Story

Dorsey’s most recent public tweet in regards to the cryptocurrency space, or Bitcoin more specifically, comes just weeks after he doubled-down on his support for this space amid this brutal market winter. Here’s a bit of background.

In recent weeks, Dorsey has risen from a nobody in the Bitcoin community to part of its upper echelons. It started when he appeared on the “Joe Rogan Experience” to talk about a number of subjects, eventually leading to Bitcoin. Host Rogan, who has expressed interest towards Bitcoin previously (he had Andreas Antonopoulos on a number of times), brought up Square’s crypto integration and Dorsey’s comments on how BTC is vying to be a ubiquitous currency. Explaining that rationale behind this statement, the Twitter CEO proudly stated:

“The Internet will have a single native currency, which will likely be Bitcoin. It is something that was born on the internet, that was developed on the internet, that was tested on the internet. It is of the internet.”

Following that podcast, he began to tout Bitcoin and facets of this nascent ecosystem on Twitter. He lauded the Lightning Network, before bashing altcoins, like Tron and Ethereum, and touting the merits of projects built using the aforementioned scaling solution. Dorsey even appeared on a number of Bitcoin-centric podcasts, revealing that he has accumulated $10,000 worth of BTC over the past week. He alluded to the fact that he does this every week, claiming that he has maxed out the Cash App’s BTC purchasing option.

Dorsey’s involvement with this industry is evidently an ongoing story. But where will the Silicon Valley entrepreneur show his face in the industry next? Many sure do hope it will be Square’s acceptance of the Lightning Network.

Title Image Courtesy of Via Unsplash

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Western Cape Government Makes Progress At Blockchain Africa Cape Town

Especially considering Blockchain was designed, in essence, by mistake in Satoshi Nakamoto’s design of the Bitcoin protocol. Simon’s passion for the …
Reading Time: 7minutes

The hype had been set. The expectations were high. The pressure was on.

Bitcoin Events (PTY) Ltd. had pulled off their biggest scoop to date.

With previous conferences featuring industry giants like Andreas Antonopoulos, Vinnie Lingham, and Brock Pierce among others, was there ever a way of topping the headline acts? Especially in this immensely cold crypto Winter. But top it they did.

Almost one month before the conference, and in true South African style, Bitcoin Events made an announcement that came from left field. Premier Helen Zille would be a keynote speaker, along with the Western Cape’s Minister of Economic Opportunities Beverley Schäfer and Chief Economist for the Provincial Government, Nezaam Joseph. For the first time in South Africa, a significant member of government and key policy influencer would be directly involved in a prominent Blockchain event.

While the Joburg iteration of the conference was outstanding on every level; the venue, the size, the audience, the AV, indeed the speakers – and without any disrespect – the Cape Town conference had an aura of grandeur to it. Perhaps it was the elegant venue in the new wing of Cape Town’s International Convention Centre, perhaps it was the industry players who attended, or perhaps it was the direct involvement, from the highest level, of the Province’s government executives.


The presence of these executives was enthusiastically welcomed by an audience made up of tech geeks and “blockheads” as Premier Zille so affectionately labeled us. But it wasn’t her who got us underway. The equally elegant and unequivocally eloquent Didi Sehume addressed the decent sized audience (although admittedly smaller than Johannesburg) with the formalities and welcomes, and then it was into three back to back sessions by our government guests.

Minister Beverley Schäfer opened the Cape Town conference with a throughly well-researched and brilliantly presented address outlining what is truly possible for our economies in the likes of Real Estate, Medicine, and of course Finance, with the introduction of Blockchain. And while statements like “(going) through every sector in the province, we would likely find a way that blockchain can reduce costs, or increase speed transparency and traceability,” are inspiring and enthusing, Schäfer also brought us back to Earth with the important reminder that we are not to get caught up in unnecessary hype, citing a white paper by the World Economic Forum entitled “Blockchain: Beyond The Hype“.

Her keynote was eloquent, educated and slickly delivered, but above all: it was presented with passion and a sincere desire to see economies impacted for the better through innovative solutions such as Blockchain.

Our government guests were not afforded lengthy presentation times, and just when it seemed Minister Schäfer was hitting her stride, she was concluding her address and making way for the headline of the day’s act: Premier Helen Zille.

I have to say: I was expecting a formal address of regurgitated narrative about adapting with the times and celebrating Cape Town’s success stories. An address without much heart or consideration for what Blockchain can truly offer society.

I couldn’t have been more wrong.

Having later consulted with a spokesperson for the Provincial Office, I was told that Premier Zille presented her 20 minute address using handwritten notes based on her very own research conducted over the weekend – all while simultaneously preparing for her government’s budget proposals that afternoon. Zille had clearly been captivated in her time of study, as her passion for Blockchain’s possibilities were obvious in her address.

“We haven’t even got our feet wet yet. 10 years from now, Blockchain will be mainstream,” how about that for a thought from an established Premier of a leading South African province? She duly followed up such exuberant statements with a philosophical rebuttal: “How do we prepare for that?” And then proceeded to warn the industry that they need to recognise just how difficult it is to innovate from within the bounds of government, and that such innovation lay with us, the builders in the space currently on the ground.

Zille was not only captivated by Blockchain, she was captivating. She genuinely had the attention of her audience – not only through her decades of public address experience, but through her heartfelt call to the industry: This is truly a disruptive innovation that opens entirely new possibilities for governance. It would seem, she had drank the kool-aid.

Western Cape’s Chief Economist

Zille’s brilliant and emphatic keynote was followed up with an equally intriguing and captivating address by Chief Economist for the Western Cape, Nezaam Joseph. With over two decades of experience in IT for the banking industry, one would have thought that Nezaam was born for Blockchain. Alas, in my interview with Mr Joseph, I found that he was not quite the believer we had been made to believe the Western Cape government were. He was optimistically cautious. And this caution stems from years of researching not only the infrastructure of Blockchain protocols but that of its economic nature as well.

In my interview with Nezaam (to be released by middle next week), Joseph makes it clear that he believes inflation is necessary to a growing and stable economy, although within the range of 2-3% being optimal. Whether many of this audience would agree with him remains to be seen, but I would warn those wishing to jump behind the computers looking to respond, Nezaam truly knows his niche. Was he against Blockchain? Not all. His address was actually quite the opposite, stating facts like ” if one of the Big 6 banks in South Africa had to go bust, there is not enough money in our reserves to bail it out.” A frightening thought to say the least.

Joseph continued to rattle off facts about the history of both money (like 1000 year old Yap stones) and the history of government record keeping written onto goatskin (even in England to this day!) – both examples indirectly concluding that Blockchain makes for perfect modern day replacements. Although Joseph was seemingly far more diplomatic in his enthusiasm for Blockchain, his research clearly revealed someone who understand (and likes) the technology.

No Stopping The Blockchain Conference Train

From there we weren’t allowed to stop and digest all we had thrown at us, as it was straight into another leading keynote speaker in the space, Simon Dingle. Known for his radio show and book “In Math We Trust” (personally highly recommended), Simon introduced his talk in the way a true keynote international rockstar would: With interactive video ideas and visual brainteasers – all designed to make us see that Blockchain was an entirely new paradigm not yet fully understood. Especially considering Blockchain was designed, in essence, by mistake in Satoshi Nakamoto’s design of the Bitcoin protocol. Simon’s passion for the Bitcoin project is convincingly clear and refreshingly provocative.

When looking back, it is difficult to comprehend just how much the conference was able to fit in all before 5pm’s cocktail event. With talks by the massively popular and incredibly articulate JP Fabri about Malta’s preparation for this new wave of innovation, and its resounding success in drafting progressive regulation that attracts innovative startups – and the brilliant and impressively intelligent Marcus Swanepoel reminding us just how hard he worked to get BitX (now Luno) off the ground and explaining that this is a new global economy that we are in the midst of transitioning into.

Riccardo Spagni, or known by many on “crypto twitter” by his more affectionate title “Fluffy Pony“, highlighted the importance of user’s rights to privacy, and how such rights can be achieved with Blockchain technology – while Llew Claasen engaged the audience with his anecdotes of early days with Vinnie Lingham – although it’s their latest set of innovative investments that pique one’s attention. Like a blockchain-based “Fan Controlled (American) Football League” to be based in Las Vegas. Keep an eye on Vegas for that one.

There was such a vast array of presentations that choosing which ones get mention in this article has become an arduous task of centralized relegation and promotion. (Perhaps you can vote for which talk you would you like to see elaborated on? See them all here, then vote in the comments. 😉) Panels with Blockchain and economic expert Farzam Ehsani and Centbee’s Lorien Gamaroff made for locked-in attention. Monica Singer’s story of leaving the elite of corporate South Africa for Blockchain powerhouse ConsenSys is an inspiring one for the ages, while Matthew Arnett’s panel contribution to Economic Inclusion in Africa utilizing Blockchain innovation highlighted what is happening right here on the African continent.

So Much To Be Hopeful For

When one spends an entire day with almost 200 developers, entrepreneurs, economists, politicians and enthusiasts, it’s actually quite remarkable to think that the market prices of these blockchain-based digital assets are still on the decline. Experiencing the energy of such a large and accomplished group unanimously dedicating their focus toward this new industry makes one wonder why companies wouldn’t want to invest their resources towards it.

Blockchain African Cape Town 2019 could very well go down as a pivotal moment in South Africa’s adoption of the technology. All because a team of people saw the importance of including government in the process, and pursuing those possibilities and gaining such high level participation. And then again further commendation must be passed to these government officials themselves for the way in which they have embraced our community.

During the day, many of us involved in the conference were side-swiped from an email by the Premier herself; inviting us to her official residence the following night to begin a dialogue about how we can fast-track the adoption of this technology in our country – starting with her jurisdiction in the Western Cape. Constrained by her mere 9 weeks left in office, Premier Zille wanted to swiftly gather thought leaders in South Africa’s industry to get the ball rolling sooner rather than later.

The conversations and introductions made between key government officials and leading technologists, engineers and entrepreneurs in the space were ones that will be invaluable to South Africa’s adoption of Blockchain and DLT. Credit must go to Premier Zille for her passionate response to the research she conducted on Blockchain. It is not common to see such a swift and active response to an idea that inspires us.

And that’s exactly what has happened.

We have been inspired. We have all been inspired. By not a man in Satoshi Nakamoto. Not a team who produced the first Bitcoin protocol. Not a paper almost religiously revered. We have been inspired by an idea. An idea by whom we will probably never know. And for whom is more to the point.

It is for the people. After all, the people are the ones who decide their future.

And Blockchain Africa 2019 was a resounding amplification of this powerful idea.

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Is Largely Unbanked Africa Primed for Bitcoin Adoption?

For many of the unconverted in the so-called developed world, Bitcoin is seen as something for speculators at best and criminals at worst. However, as …

For many of the unconverted in the so-called developed world, Bitcoin is seen as something for speculators at best and criminals at worst. However, as the highly respected Bitcoin evangelist Andreas Antonopoulos argues, one of the most revolutionary adoption cases for Bitcoin won’t be in the United States, UK, or Australia.

In these countries and other “first world” nations, adequate banking services are seen as a given and are largely taken for granted. Across much of Africa, by contrast, bank accounts are difficult to set up, inconvenient, and expensive.

Is Bitcoin Tailor Made for Africa?

Huge parts of the African continent lack adequate banking facilities. A report in Elixirr states that as much as 66% of the population living in Sub-Saharan Africa have no bank account. With a population over 2.16 billion in 2016, this is a lot of people who could be potentially served by Bitcoin.

The opportunity for Bitcoin in Africa was highlighted by Twitter user @Cryptokoala_Aus earlier today. The infographic pictured below was first published in 2016 by Africa Key Partners, however.

When you see it, what #Bitcoin can do for the unbanked in Africa and how prime it is

— 🐨 Crypto Koala 🇦🇺 (@Cryptokoala_Aus) March 6, 2019

As you can see from the above image, 167,335,676 people on the the continent use the internet and 11 percent have access to a broadband connection. Naturally, since the above infographic is now over two years’ old, we can assume that these figures are higher today as well. With such high levels of internet users and low levels of banking access, Africa could well be already primed and waiting for a spark that starts massive Bitcoin adoption.

You can also see from the Tweet above that posted by @Cryptokoala_Aus, several African nations suffer from excessively inflating currencies. Being deflationary by design, Bitcoin could not only provide banking access to the hundreds of millions of people living with internet access yet no banking facilities, but also present an option for them to opt out of the currency pushed by their often-corrupt national governments in favour of something highly resistant to banking malpractices.

Is Africa Waking Up to Bitcoin?

Two useful, yet ultimately inconclusive metrics, to measure the rate of Bitcoin adoption are the number of Bitcoin trades occurring from within a given territory and the number of companies choosing to accept the digital currency in exchange for goods and services.

Firstly, the trading volumes reported by CoinDance show that over 1,380 BTC changed hands on Local Bitcoins in regions covered by the analytics service. This is by no means a complete list of African nations and their Bitcoin trading. However, notable contributors to this total were Nigeria with 903, South Africa with 288, and Kenya with 88.

Comparisons to other important markets seem favourable to the African continent at first glance with a higher Local Bitcoins total than all of Europe, which at 803 actually traded less than Nigeria alone last week on the peer-to-peer platform. However, their are multiple issues with this comparison.

Most notable of these is that European citizens have far better access to the banking infrastructure and necessary forms of identification required to trade Bitcoin at more formal exchanges such as Binance, Coinbase, or Kraken. This is highlighted by the fact that reports over 53,000 BTC was traded on centralised exchanges using the Euro currency over the week period referenced above. This compares to a total of zero listed for African currencies.

Supporting this view of an African continent yet to embrace Bitcoin is data from, a website focused on showing businesses that accept the digital asset. Here, Africa is the largest untouched landmass:

Does Africa’s low Bitcoin acceptance rate and high numbers of internet users provide an opportunity for Bitcoin [Source:]

There is clearly a lot of potential for Bitcoin use to spread across the continent of Africa. Issues with corruption, inflation, and a lack of banking options seem the norm rather than the exception. According to the Elixrr report, many in the African nation of Uganda actively shun banks on the grounds of distrust too. All this combines to make Africa a potentially highly receptive part of the world for Bitcoin adoption.

Competition for Bitcoin: The Rise of the Mobile Money Service Provider

However, African nations have recently been noted as those most embracing of mobile money service providers. M-Pesa is one such provider that now boasts 30 million users across seven African nations. In fact, Africa has reportedly seen the fastest penetration of non-bank payment service providers. The Elixxr report states that there were more registered accounts with mobile money service providers in 2016 than there were registered bank accounts across the region.

Evidently, Bitcoin faces strong competition from these firms that are rapidly establishing themselves in place of banks for small business owners across Africa. However, the fight to bring parts of the continent into the increasingly connected global economy is by no means lost for the world’s number one cryptocurrency. After all, Bitcoin remains far more useful for those living in corrupt jurisdictions since it exists entirely outside said corruption.

Related Reading:Global Bitcoin Acceptance Up More than 702% Since 2013

Featured Image from Shutterstock.

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Twitter CEO Is Buying $10000 In Bitcoin Each Week: Why Is He So Optimistic?

When asked about Bitcoin Cash, Dorsey chirped back with a simple, but powerful “hell no,” sparking chants of “one of us, one of us” from the Bitcoiner …

Since hinting at his undying support for the crypto space in late-2017 and early-2018, Jack Dorsey has become somewhat of a mythical figure for Bitcoin holders the world over.

But after going radio silent on the matter of Bitcoin (BTC) for a handful of months, the chief executive of both Twitter and Square has recently begun to revisit this space. Funnily enough, the technology entrepreneur could be the individual (alongside Elon Musk) to wrest BTC out of its lull-esque state.

Related Reading: Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto?

Not only has Dorsey recently made it clear that he has mountains of faith in the cryptocurrency, but has a significant financial stake too.

Jack Dorsey Enamored With Bitcoin

In recent weeks, Dorsey has risen from a nobody in the Bitcoin community to part of its upper echelons. Here’s a bit about how he got here, and what he plans to do with his newfound fame in this portion of the Internet.

It all began when the Bay Area native took to the “Joe Rogan Experience,” but not even in the context of cryptocurrency. After discussion on a number of subjects, Rogan, who has expressed interest towards Bitcoin previously (he had Andreas Antonopoulos on a number of times), brought up Square’s crypto integration and Dorsey’s comments on how BTC is vying to be a ubiquitous currency. Explaining that rationale behind this statement, the Twitter CEO proudly stated:

“The Internet will have a single native currency, which will likely be Bitcoin. It is something that was born on the internet, that was developed on the internet, that was tested on the internet. It is of the internet.”

Since that comment, Dorsey’s renewed involvement in this industry has snowballed, so to speak. Days after his Rogan appearance, he took to Twitter to publicly accept a Lightning Network transaction, picking up the so-called Trust Chain torch in a show of affection for the scaling solution. He noted that the Trust Chain, a grassroots initiative focused on bolster Lightning’s levels of adoption, was a “cool example” of the second-layer protocol, which promotes low-cost, near-instant, secure, and private(ish) BTC transactions. Dorsey even bashed altcoins.

In true Twitter fashion, when a fan of Justin Sun’s Tron questioned the technology entrepreneur about his thoughts on the project, the response was a knee-slapping “love the movie.” When asked about Bitcoin Cash, Dorsey chirped back with a simple, but powerful “hell no,” sparking chants of “one of us, one of us” from the Bitcoiner crowd.

This led Dorsey temporarily down the crypto rabbit hole, appearing on Stephen Livera’s podcast to exclaim that his San Francisco-based fintech company, Square, will be integrating the Lightning Network in some capacity in the near future.

In spite of all these comments, Dorsey didn’t make it clear to what extent his personal wealth was in cryptocurrency, claiming that he holds “enough” BTC. No more, no less. But, this changed in a recent interview, as he explained a bit about his accumulation strategy, but failed to divulge how he matches up against others on the Bitcoin investment ladder.

He’s Accumulating $10,000 In BTC Each Week

Dorsey recently took to the podcast of industry content creator Marty Bent, known as “Tales From The Crypt,” to give a 30-minute interview about his whole involvement in this potentially revolutionary business. Although Dorsey reiterated some of what he set in previous media interviews, the Twitter CEO exclusively divulged a bit about how he invests in cryptocurrencies.

TIL @jack is maxing out the weekly $10k BTC buy limit. I guess smart money has been loading up on cheap BTC all along.

— girevik (@girevik_) March 4, 2019

In a surprising turn in the conversation, he explained that he purchases $10,000 worth of Bitcoin, which currently amounts to 2.7 BTC, each and every week. Doing some napkin math, this works out to around $520,000 in cryptocurrency purchases a year (considering he doesn’t go over that amount or purchase any other digital assets) — or about 0.0928% of his $5.6 billion net worth. Although this isn’t a relatively large amount percentage-wise, it shows that Dorsey is looking to accumulate for the long haul, as he dollar-cost averages in.

On the matter of why he holds so much faith in the space, he centered his thoughts around the aforementioned point that the Internet needs a currency, and BTC is the best bet as it stands. Echoing his own comments he made on Joe Rogan’s popular podcast, Dorsey stated:

“The internet has always wanted its own currency but it hasn’t had the technology (right principles, uniform, passionate early adopters) until 10 years ago.”


Dorsey’s recent comment about his unsatiable Bitcoin purchasing habits comes as #stackingsats (Stacking Satoshis) has become a popular hashtag on what is best known as Crypto Twitter.

Each and every week, industry participants the world over have posted their weekly purchases of BTC (usually valued at $25), in a bid to show that they are stacking satoshis, fractions of Bitcoin, in preparation of further adoption. The pseudo-movement has already seen participation from Pierre Rochard, Spot, among many other prominent personalities.

Dorsey, as alluded to earlier, has also joined the stacking fray, joining in on the fun last weekend by posting an image of a BTC purchase on his company’s own application, Square Cash. (Cash sold $166 million in BTC last year, even as the bear market ravaged even the most diehard cryptocurrency holders.)

The reason why enthusiasts are stacking fractions of the cryptocurrency is arguably quite simple.

Dennis Pourteaux, a BTC investor that graduated from Harvard, recently touched on Bitcoin’s scarcity, arguably the key catalyst behind BTC’s long-standing value. Pourteaux, citing a post from Trust Chain creator Hodlnaut, a Netherlands-based Bitcoin enthusiast, noted that per his napkin math, there are a mere 300,000 satoshis (0.003 BTC) available for every human alive today. At current market valuations, such a crypto sum is valued at $11 — the minimum hourly wage in a number of U.S. states.

This is, of course, in reference to the extreme (and very real) scarcity of BTC, and the importance of that characteristic, especially in a world rife with inflation and seemingly irresponsible monetary and fiscal practices.

Featured Image from Shutterstock

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