Dorsey invests in green bitcoin mining site, wants to create a new wallet and buy BTC with Twitter » Crypto Insiders

New green bitcoin mining site

Twitter CEO Jack Dorsey and payment company Square, known for its Cash App, will invest $5 million in a new venture Bitcoin (BTC) mining Solar powered site. The foundation is being built in the US by Blockstream, the largest Bitcoin development team founded by Adam Buck. Blockstream announced this on June 5:

together with @SquareWe are building a fully open source solar powered system # bitcoin Mining facility in one of the United States #BlockstreamMining Sites to explain how #BTC Mining and renewables could drive the shift to clean energy. ☀️⛏️ https://t.co/0D4yKOe82M pic.twitter.com/HdVhe031GY

– Blockstream June 5, 2021

Blockstream wants to make the new site completely transparent, demonstrating the use of green energy and that bitcoin can lead to a “sustainable future.” The new site should set an example for others and will publish reports regularly. A dashboard is also created where everyone can take a look at the performance, consumption, and the amount of bitcoin being mined.

The decision to do so comes after a lot lately Fear, uncertainty and doubt (FUD) emanates from Bitcoin power consumption. This may be due to the volatile tweets posted by Tesla CEO Elon Musk.

New Bitcoin Hardware Wallet

In related news, Dorsey reported on Twitter that he is considering a new one with Square hardware wallet Build for Bitcoin.

Square is considering creating a hardware wallet for # bitcoin. If we do, we will build it entirely in the open, from software to hardware design, and in collaboration with the community. We want to start this thinking the right way: by sharing some of our guiding principles.

– Jack (@jack) June 4, 2021

According to Dorsey, Bitcoin is for everyone and it is important for Square to build an inclusive product and to do so in an open way in collaboration with the community. However, he mentioned some obstacles:

3/ Nursery doesn’t have to be all or nothing. Perhaps we can simplify custody through “assisted self-booking”. Help requires great product design: minimal setup time, reliability on existing hardware, and overall reliability. How should we think of helpful solutions?

– Jack (@jack) June 4, 2021

No keys, no money. The exchange you used to buy your bitcoin will likely provide security with good intentions, but circumstances may reveal that “custodianship” actually means “IOU.” Deciding to keep and secure your Bitcoin is complicated. What is problem number 1 here?

Retention doesn’t have to be all or nothing. Perhaps we can simplify nursery with “help with self-preservation.” This requires great product design. How should we think of helpful solutions?

Bitcoin Miami Event 2021

Dorsey also appeared at the Bitcoin 2021 major event in Miami on Friday. At the event, he affirmed that he still believes that Bitcoin will become the internet’s currency and a more inclusive and fair economic system for all.

He also indicated that he is considering adding Bitcoin to Twitter’s reserves and that he wants to refocus Bitcoin as a means of payment, rather than just a store of value. During the event, Dorsey was suddenly attacked by the far-right Laura Lomer:

“How can you say that this is everyone’s currency in the world and you are the king of censorship?”

Said Lemerre, who himself was banned from Twitter and Facebook. Dorsey replies that he is working on this issue with a decentralized version of Twitter through Project Blue Sky:

“I know you don’t believe me, I know you say ‘liar.’ I’ll prove it to you and then we can talk about it later.”

During the Miami event, the President of El Salvador announced that he wanted to be the first country in the world to offer Bitcoin legal tender with the help of Blockstream. Click here to read more about it.

“It was inevitable, but here it is: the first country on the right track to make it happen # bitcoin legal tender @adam3us. He once again said Blockstream plans to contribute to technologies such as Tweet embed And the #Blockstream Satellite To make 🇸🇻 a model for 🗺️”. https://t.co/1VYHuV7BKx

– Blockstream June 5, 2021