• Sat. May 21st, 2022

Silicon Valley giants Dogecoin vs Bitcoin row sparks debate over each coin’s potential

ByHazel R. Lang

Apr 26, 2022


USA News Group – Bitcoin (BTC) or Dogecoin (DOGE)? Which cryptocurrency will prevail and be adopted as the “currency of the internet and people”? This question recently sparked a brief but intense spat between two Silicon Valley giants: Jack Dorsey, the co-founder of Twitter Inc. (NYSE: TWTR) and CEO of Block, Inc. (NYSE:SQ), and Vlad Tenev, CEO of Robinhood Markets, Inc. (NASDAQ: HOOD). Dogecoin has risen in popularity and like-mindedness over the past two years, knocking on the door of the #2 cryptocurrency Ethereum. A little after SpaceX CEO Elon Musk has started playing in earnest to acquire TwitterDOGE prices have changed, causing Forbes to infer Dogecoin as a “proxy for Twitter Stock”. As the debate rages on, cryptomining scholars have benefited, such as Neptune Digital Assets Corp. (TSXV: NDA) (OTC: NPPTF), and Hello Pal International Inc. (CSE:HP) (OTC:HLLPF) which has recently combined its crypto mining capabilities with its successful live streaming and video matching businesses.

The new DogeChat and DoggeChat apps from Hello Pal International Inc. (CSE:HP) (OTC:HLLPF) are configured to allow users to correspond and/or video chat with other individual users around the world. When a connection is established, 1-on-1 video calls generate revenue per minute, paid by the call originator to the call recipient – now with the option to pay in crypto, which hello buddy is also in the field of mining.

“We expect these apps to be very synergistic with our current livestreaming and crypto-mining operations,” said KL Wong, Founder and Chairman of hello buddy. “They will not only bring new users from different markets into our existing ecosystem, but also allow us to begin implementing our goal of making cryptocurrency use more widespread around the world, starting with our users.”

Where DogeChat payments will be made in DOGE and other cryptocurrencies, DoggeChat payments will be made in fiat currencies through Apple Pay and Google Pay. DoggeChat will be launched first, before DogeChat will be launched at a later date, using the same user pool. However,

regular DoggeChat users will be incentivized in various ways to switch to DogeChat.

hello buddy made history in May 2021 by becoming the market’s first listed company focused on DOGE mining. The reaction to the announcement was swift, causing such a huge increase in traffic that it temporarily caused the website to crash.

The DoggeChat and DogeChat launches represent Hi buddies market expansion in the burgeoning one-to-one video chat space, as well as its foray into the North American market.

More importantly, it also represents their plan to start integrating cryptocurrency payments into their social and livestreaming activities.

Meanwhile, in terms of revenue from cryptocurrency mining, hello buddy and Neptune Digital Assets Corp. (TSXV:NDA) (OTC:NPPTF) have similar market capitalizations and both have recently reported strong earnings from their operations.

Back in February hello buddywas still in the process of moving its mining operations out of China, while increasing its mining assets and improving its crypto-mining operations infrastructure.

“Our live broadcast operations continue to deliver strong operating results as we continue to diversify outside of China,” said KL Wong. “With our focus on cryptocurrency mining operations, we expect revenue and profits to continue to grow.”

While hello buddy concentrates its mining on DOGE, Neptune Digital Assets focuses more on BTC.

During the first quarter of 2022, Neptune Digital Assets set a quarterly record with C$13 million in overall income, coming not just from mining, but also from staking and DeFi revenue and crypto fund investments.

“We hope to see the general crypto space grow as we move forward into 2022 and our Bitcoin mining, staking and DeFi revenue will grow accordingly as we grow these arms of the business,” said said Cale Moodie, Neptune CEO. “We expect an additional 53 petahash of mining capacity to come online in the second quarter, increasing our Bitcoin revenue. We remain true to our diversified model and will continue to manage our risks while maximizing revenue at all levels.”

Which brings things back to the quarrel over Twitter Inc. (NYSE: TWTR) between Jack Dorsey CEO of Block, Inc. (NYSE:SQ), and Vlad Tenev, CEO of Robinhood Markets, Inc. (NASDAQ: HOOD).

Tenev started the conversation, posing in a Tweeter: “Can the #Doge really be the future currency of the internet and the people? As we added the ability to send/receive DOGE on Robinhood, I thought about what that would take.”

He went on to claim that Dogecoin could outperform Visa regarding transaction speeds, and that cryptocurrency transaction speeds would eventually exceed the credit card giant’s current 65,000 transactions per second (TPS) capabilities.

“Doge should be able to significantly outperform Visa, which means increasing throughput by at least 10,000x,” Tenev wrote.

While there was plenty of support for Tenev’s thoughts, others on Twitter began to grow back, including the social media platform’s co-founder and former CEO, Jack Dorsey, with pointed beards that reflected some of the public’s skepticism due to robinhood more recent reliance on DOGE for revenue and profits.

Dorsey responded to Tenev’s final tweet with a sarcastic, “Are you thirsty?”, to which Tenev fired back with “U mad?”

Not leaving him alone, Dorsey replied, “No, I’m fine, I don’t use Robin Hood.”

Tenev cleverly had the last laugh, taking advantage of an opportunity to Robin Hood plug, responding “you’d pay less for your bitcoin if you did!”

Twitter Inc. (NYSE: TWTR) itself does not play a spectator role in the cryptocurrency scene, working with an online payment company Bandaged to become the first company to integrate a new payment method that makes crypto payments through the USDC stablecoin. start right away, Twitter will allow a number of creators to receive their income from its paid features Ticketed Spaces and Super Follows in USDC.

Block Inc. (NYSE:SQ) CEO Dorsey has bet it all on Bitcoin, with his departure from Twitter first Bloomberg Businessweek claiming his intention became the “spiritual leader” of Bitcoin.

His company is willing to work with a cryptocurrency storage company Blockstream to build a solar-powered BTC mining facility in Texas. The 3.8 megawatt (MW) facility will be equipped with from Tesla array of photovoltaic solar cells and a 12 MWh Megapack.

While some criticized Tenev for his bias in supporting DOGE, Dorsey’s seemingly critical anti-Dogecoin and anti-Ethereum statements while being hyper-focused on BTC could also be seen as biased.

Source of the article: https://usanewsgroup.com/2020/11/16/live-streaming-is-take-the-market-by-storm/

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