Twitter CEO Jack Dorsey has been accused of tweeting a cryptic message about Bitcoin (BTC) mining, stirring up rumours that the cryptocurrency was going to be used in the social media platform’s infrastructure.
Jack Dorsey’s enigmatic tweet sets Bitcoin (BTC) mining rumours ablaze. It is speculated that the tweet was a hint to the release of an update for Bitcoin Gold, which has been in development since October 2017. Read more in detail here: what is mining bitcoin mean.
Jack Dorsey, an American billionaire internet entrepreneur best known as the co-founder and CEO of Twitter as well as the founder and CEO of financial services and digital payments firm Square, has left the crypto community on Twitter perplexed as to what the mysterious number ‘705742’ means.
The vagueness of his brief number hint sparked a flurry of speculation about Dorsey’s newly revealed Bitcoin (BTC) mining intentions.
The miner’s puzzle
While the whole crypto market was focused on Bitcoin’s price surge on Tuesday, Dorsey tweeted a simple six-digit number, piqued the attention of his 5,7 million followers.
October 19, 2021 — jack (@jack)
After the price of Bitcoin officially surpassed its prior high, Dorsey followed up with a tweet that said, “Off by 117.”
Some speculated that Dorsey’s unclear tweet meant his “block number” forecast for when Bitcoin will exceed its all-time high set in April (ATH).
I believe he’s referring to predicting which #btc block we’ll be at when we breach ath.
October 19, 2021 — J HODL (@sathungrysimp)
The cryptic tease came only days after the infamous Bitcoin enthusiast revealed Square’s newest intentions to further democratize the lucrative Bitcoin mining industry.
Do you believe @jack mined the #bitcoin for block 705742 with the new miner he mentioned?
October 20, 2021 — Gabe Harris (@gabeh730)
The open-source mining system developed by Square
Dorsey announced on Twitter last Friday Square’s newest plans to bring Bitcoin mining to the people.
Square is contemplating developing a Bitcoin mining system for people and companies across the globe based on bespoke silicon and open source. If we do this, we’ll develop it in the open, in cooperation with the community, like we did with our hardware wallet. First, a few ideas and inquiries.
15 October 2021 — jack (@jack)
According to him, the firm “is contemplating developing a Bitcoin mining system for people and companies globally based on bespoke silicon and open source.”
He emphasized the need of continuing to “develop in the open, in cooperation with the community,” and said that the mining mechanism will be based on the “hardware wallet paradigm.”
“Mining has to be spread further,” he said, emphasizing that “the more decentralized this is, the more robust the Bitcoin network becomes.”
“Energy is a system-level issue that requires innovation in silicon, software, and integration,” he added, emphasizing the necessity of increasing clean and efficient energy use.
“Mining bitcoins should be as simple as putting a computer into a power outlet.” “Today, there isn’t enough motivation for people to overcome the difficulty of operating their own miner,” Dorsey said, suggesting that mining should be made more accessible to everyone.
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