Jack Dorsey and Jay-Z to allocate 500 BTC to Bitcoin dev

[Daltonik]

Twitter CEO Jack Dorsey announced that together with rapper Jay-Z, he will allocate 500 BTC, which is approximately $23.6 million to the bitcoin developer funding fund. In the description of the mission of managing the fund, Jack Dorsey considers bitcoin as the currency of the Internet.

The Fund ₿trust will be mainly aimed at professionals from Africa and India forms a candidate he made with a tweet. CEO of Binance responded to the tweet: "Thanks for the nomination, but I am not the best candidate, as I am being pulled apart in different directions and too little time. Happy to make a donation as soon as the trust is launched"

[masterzino]

A very nice initiative to support those regions and Bitcoin dev. $20+mn is not a small amount. More companies will follow them because even if they don't believe in crypto, the PR and media exposure will be bigger than the support.

[Xavofat]

Bitcoin is becoming quite cool among celebrities.  Really it's quite a similar gesture to Tesla spending $1.5bn buying Bitcoin, except if anything it's even better since it will actually help to advance Bitcoin's development!  I've seen Elon Musk's Twitter recently, he keeps posting memes about Bitcoin related stuff, he even posted a meme about Mt. Gox.  How did he even learn about this stuff?  Maybe Jay-Z will end up promoting Bitcoin similarly and pushing up the price.

Africa countries top the list in bitcoin usage and trading

Uhhh what?  I'd say Eastern Europe leads the way if anything, and other developed economies do contribute pretty greatly.  India is a big contributor though, and I'm sure his fund will help a lot with Bitcoin adoption in both Africa and India.

[odolvlobo]

There is also brink.dev, a foundation started by John Newbery and Mike Schmidt to fund Bitcoin developers.

[BIT-BENDER]

Africa being part of the beneficiary of the Fund from Jay z and Twitter boss, gives Bitcoin developers in Africa a big chance in doing more for themselves, I think this would encourage those who think Bitcoin is a Ponzi/scam as some Federal government in Africa say it is, that it isn't what they think, I think their are agile Bitcoin developers that has had funding problem but if this can get to them the can promote Bitcoin adoption in Africa.

[crwth]

Seeing this post makes me feel excited for the Bitcoin Developers (not that they needed it) but big names trying to support them into helping those that really needs the "banking" thing. Spreading out word and infiltrating markets towards the development is definitely the way. It's a step towards the future for sure. When more people are involved, we are definitely going to have the tables turn and people who HODL more would have more. Let's go!!

[franky1]

can anyone hear that.....
.. the noise of thousands of non-devs suddenly promoting themselves as devs to get this 'blind irrevocable' million dollar pay day
.. or maybe its just the jingle jangle of the fake gold necklaces of the nigerian prince

[rdbase]

Alot of famous rappers are getting into the cryptospace as of late.
Elon showed Snopp dog on his twitter post who was supporting doge and another celebrity on the same tweet.
Thery were all holding up the doge meme in a lion king pose.

[eaLiTy]

Big shout out to Jack Dorsey who is battling the right wing extremist government in India who was putting pressure to Twitter to ban all the opposition tweets who is questioning the bad governance and anyone who protest against them and yesterday he came out with the decision to protect free speech and more over there are rumors about the government planning to ban cryptocurrency altogether and launching their version. I am glad someone is standing against these dictatorship and allocating funds to make things better for everyone.

[dothebeats]

Not too many people doing something to give back to the community, so a huge thanks to Jack and Jay-z into giving a chance to our African and Indian brothers to learn and be a part of active bitcoin development while also receiving some form of financial support/compensation. Most of the time, the chances of being able to showcase our skills and our knowledge is hindered by lack of opportunities and unfavorable conditions. With Jack and Jay-z providing ample room for these talented people to grow, expect a lot of changes and development this might bring to these communities.

[just_Alice]

It's interesting how different organizations are starting to wake up just now, one after the other, but why not earlier? Maybe they're trying to figure out how to deal with the global economical crisis. It's a great initiative, however, I don't understand why would they do it as an irrevocable trust, doesn't this put at risk all this idea? I get that there are some good specialists in those regions, nevertheless, a little bit of cooperation with world renowned specialists would enhance the progress IMO.

[notblox1]

Africa and India have many great developers and this 500 BTC dev fund is great idea especially after both Nigeria and India are announcing they have plans to totally ban cryptocurrencies (again).
What I don't understand is who nominated CZ or maybe he nominated himself, but that guy is getting involved in everything, and he should seriously get some rest.

[verita1]

Impressive initiative! Bitcoin is not only to fill the bags and protect capital. It also allows the creation of missions of great value and impact such as this trust for bitcoin development funds.
Jack is a great bitcoin ambassador and I am happy that he chose Africa and India as the focus of the plan.
It is an incredible call to pool ideas to make the bitcoin network more valuable.

[TravelMug]

Unpopular opinion: What are the financial motivation behind? For sure there is one, specially a businessman like Jay-Z, although he seems very supported of crypto, but there should be a big reason behind throwing this huge amount of money without getting someone in return?

What are your thoughts?