Twitter Founder Announces He Is Developing More Efficient, Open Bitcoin Mining Hardware
Jack Dorsey is passionate about cryptocurrencies, but the thing seems that you are going beyond making money without effort. He’s going to get right into the business…
The fundador de Twitter, Jack Dorsey, left his position as CEO a few weeks ago, and little by little we are discovering the reasons.
It seems that Dorsey is going to focus on his other company, the old Square, which he has renamed with the name of Block. Just as Meta references the Metaverse, Block does so with the blockchain, which is where you will focus your business.
Dorsey has announced on Twitter that they are working on an open and efficient Bitcoin mining system which will use your own custom chips:
Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community. First some thoughts and questions.
— jack⚡️ (@jack) October 15, 2021
In different chained tweets that he has published, the founder of Twitter explains that current mining hardware is inefficient, difficult to configure, and in the hands of few companies.
Dorsey points to the moment when the last bitcoin is mined, and the miners become agents that verify the trading operations, charging a commission.
In order for Bitcoin to maintain its price, it is necessary that there are many active miners, and that transactions are carried out efficiently.
That’s why Dorsey is willing to create open source bitcoin mining hardware, and much more efficient than the current ones.
Also, make it as easy to use as plugging in a plug.
In this way, the number of bitcoin miners will increase, and the entire ultra-speculative, pyramidal and highly polluting racket will be able to continue operating.
Because Jack Dorsey rightly describes that cryptocurrency mining hardware is inefficient. And we add, a shameful waste of energy, in many cases polluting, only for a single speculative purpose of a few.
Tal as recognized by Ubisoft itself when it introduced its NFT platform, Quartz, a transaction with bitcoins consumes as much energy as a year watching streaming videos.
It’s an unjustifiable waste of energy, and it’s something Jack Dorsey only mentions in passing, when announcing his hardware.”more efficient“.
If cryptocurrencies want to win the favor of the whole world, they need to find ways to operate infinitely more efficient than those used by Bitcoin and company. We hope that more proposals will arise in this regard.