TL; Fault DR
- Dorsey tweeted about Square thinking about creating a bitcoin mining system. This system also serves individuals and companies.
- His remarks have sparked a Twitter storm. Some praised him for the move, while others commented.
Jack Dorsey from Square is in the eye of the Twitter storm. Dorsey suggested in a series of tweets that Square was developing a bitcoin mining system (BTC).
In those tweets, Dorsey announced that the system would be open source. It is also custom silicone and is open to users and private businesses. In addition, he expressed the pain points of the system.
For starters this is a great way to get word out that networking is a must-have.
Second, it considers a clean and efficient mining system. This is a key consideration because it affects the economy and scalability of BTC.
In addition, Dorsey suggested that Square cover the cost of development. In this way, the system he envisions tries to make the mine cost-effective. Again, the Square system focuses on achieving vertical integrity.
The last question was access. Dorsey believes that mining does not require complex work. In this way, the square system helps people to personally simplify the mining work.
Dorsey had called for reactions
At the end of his tweet, Dorsey invited the comments of his followers. He wanted to know if the system was a viable project. He again asked for his opinion on what they want Square to include.
And the answers came thick and fast. These tweets have separated crypto lovers from the middle. While some agree with the move and even admire him, others strongly protest.
A Rick Allen agreed with Dorsey. He found the idea “excellent.” In addition, he suggested that the new system would help better distribute BTC mining pools. He thought that such a distribution could stop their attacks by using their centrality.
But MAYA MOSS Twitter XMMCCCCLV was not affected. In his view, this project is not only a “huge waste of time”, but also a resource. He wondered who was looking to implement the Proof of Work (PoW) project in 2021.
His comments were ignored by Dorsey fans. A Twitter user, 4EverCloudy, reminded him that PoW could not be dead when BTC was rising. He reiterated that PoW has won the Proof of Stake (PoS). Despite the effect of Ilan Mask and the claim of PoS stability.
Triggy, another pro-Dorsey user, claimed that PoW was helping to monetize wasted energy. He cited El Salvador as an example. Triggy believes the BTC volcano mine in the country is an example of converting unused energy into money.
Dorsey’s long-term relationship with BTC
Several neutrals, such as Richard Heart, implicitly endorsed Jack’s plans. But he suggests switching from PoW to PoS or equivalent. He insists the switch is environmentally friendly. It also increases the value of BTC.
Dorsey, who is the CEO of Twitter, is a well-known supporter of cryptography. He has previously tweeted about his personal BTC extraction experiment.
In addition, Jack has said that he does not think there is anything more important than BTC to work. He insists that he would have dedicated his life to BTC if it were not for his current job. In addition, he believed that cryptography could promote peace at work.
Twitter has recently made progress in integrating encryption into its platform. Its bitcoin feature allows users to guide the top currency password. This feature runs on Android and iOS devices.