Биткоин как платежная система: Джек Дорси о различии между биткоином и криптовалютами Translation: Bitcoin as a Payment System: Jack Dorsey on the Difference Between Bitcoin and Cryptocurrencies

Block’s CEO Jack Dorsey stated that Bitcoin is not a cryptocurrency. His post triggered a lively response from the community.

bitcoin is not crypto

He pointed out that the term «crypto» does not appear in the white paper of digital gold. Satoshi Nakamoto described it as a «peer-to-peer version of electronic cash» and «an electronic payment system based on cryptographic proof.»

In one of his recent publications, the creator of Bitcoin referred to it as «a digital currency that eliminates the need for a trusted central server through cryptography and a distributed ledger.» Dorsey specifically emphasized «currency.»

About an hour before his controversial post, he tweeted:

*“Bitcoin is money.”*

He backed up this tweet with a statement on the successes of his company Block and its division Square in implementing free payments in the first cryptocurrency.

At the time of writing, Dorsey’s post had been viewed by over 3.8 million users, with comments exceeding 4,500.

Many did not understand what the Block founder meant. Ripple’s Chief Technology Officer David Schwartz suggested that Dorsey views Bitcoin as a payment system rather than a speculative asset.

A portion of the community agreed with this perspective, highlighting the asset’s uniqueness as a digital currency. Some even referred to Bitcoin as «the gold of metals,» implying that the coin stands apart from the rest of the market.

*“True. Bitcoin is money, while crypto is technology,”* wrote a user who concurred with Dorsey’s view.

Stacks founder Muneeb Ali took a more cautious stance, stating that while Bitcoin is indeed different from other cryptocurrencies, the viability of its on-chain economy remains questionable.

*“Bitcoin is different from the rest of the crypto industry, but we need to improve the creation of a viable on-chain economy based on it. Honestly, some crypto projects demonstrate more impressive results in* [*attracting developers*] *and utilizing decentralized applications,”* he remarked.

However, many users maintain that the market’s flagship is still a cryptocurrency. One user accused Dorsey of excessive maximalism that misleads others:

*“Jack, what’s the point of your tweet? ‘Crypto’ is short for ‘cryptocurrency,’ which literally means ‘cryptographic currency.’ Bitcoin’s protocol uses cryptography to hash new blocks onto the ledger. Your statement, or the words of other Bitcoin maximalists, creates some kind of paradox.”*

It’s worth recalling that in February, the editor-in-chief of deBanked, Sean Murray, named Dorsey the creator of Bitcoin.