{"id":202269,"date":"2021-10-22T08:00:01","date_gmt":"2021-10-22T07:00:01","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=202269"},"modified":"2021-10-24T04:21:33","modified_gmt":"2021-10-24T03:21:33","slug":"jack-dorseys-enigmatic-tweet-sets-bitcoin-btc-mining-rumours-ablaze","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/jack-dorseys-enigmatic-tweet-sets-bitcoin-btc-mining-rumours-ablaze\/","title":{"rendered":"Jack Dorsey\u2019s enigmatic tweet sets Bitcoin (BTC) mining rumours ablaze"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The American billionaire technology entrepreneur, <\/span><a href=\"https:\/\/cryptoslate.com\/people\/jack-dorsey\/\"><span style=\"font-weight: 400;\">Jack Dorsey<\/span><\/a><span style=\"font-weight: 400;\">, best known as the co-founder and CEO of Twitter and the founder and CEO of the financial services and digital payments company Square, left the crypto community on Twitter wondering what is implied with the enigmatic number \u2018705742.\u2019<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The ambiguity of his short numeric tease opened up the floodgates to rumors relating to Dorsey\u2019s recently disclosed Bitcoin (<\/span><a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\"><span style=\"font-weight: 400;\">BTC<\/span><\/a><span style=\"font-weight: 400;\">)<\/span><span style=\"font-weight: 400;\"> mining plans.\u00a0<\/span><\/p>\n<h2><strong>The mining enigma<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">On Tuesday, while the entire crypto market focused on the Bitcoin price momentum, Dorsey tweeted out a simple six-digit figure, spurring interest among his 5,7 million followers.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"und\" dir=\"ltr\">705742<\/p>\n<p>&mdash; jack\u26a1\ufe0f (@jack) <a href=\"https:\/\/twitter.com\/jack\/status\/1450544727091146752?ref_src=twsrc%5Etfw\">October 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">\u201cOff by 117,\u201d read Dorsey\u2019s follow-up tweet, after the price of Bitcoin officially topped its previous record.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Dorsey\u2019s ambiguous tweet led some commentators to guess that the figure implied his \u201cblock number\u201d prediction for when Bitcoin would surpass last April\u2019s all-time high (ATH).<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I think guessing which <a href=\"https:\/\/twitter.com\/hashtag\/btc?src=hash&ref_src=twsrc%5Etfw\">#btc<\/a> block we&#39;re at when we break ath is more likely what he&#39;s alluding to ?<\/p>\n<p>&mdash; J HODL (@sathungrysimp) <a href=\"https:\/\/twitter.com\/sathungrysimp\/status\/1450582252644093953?ref_src=twsrc%5Etfw\">October 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The notorious Bitcoin advocate tweeted his enigmatic tease just a few days after he disclosed Square\u2019s latest plans to further democratize the lucrative Bitcoin mining business.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">You think <a href=\"https:\/\/twitter.com\/jack?ref_src=twsrc%5Etfw\">@jack<\/a>  mined the <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&ref_src=twsrc%5Etfw\">#bitcoin<\/a>  for block 705742 with that new miner stuff he was talking about doing?<\/p>\n<p>&mdash; Gabe Harris (@gabeh730) <a href=\"https:\/\/twitter.com\/gabeh730\/status\/1450623489849929733?ref_src=twsrc%5Etfw\">October 20, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><strong>Square\u2019s open-source mining system\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Last Friday, Dorsey revealed on Twitter Square\u2019s latest intentions to bring Bitcoin mining to the masses.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">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\u2019d follow our hardware wallet model: build in the open in collaboration with the community. First some thoughts and questions.<\/p>\n<p>&mdash; jack\u26a1\ufe0f (@jack) <a href=\"https:\/\/twitter.com\/jack\/status\/1449110239442345995?ref_src=twsrc%5Etfw\">October 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">According to him, the company \u201cis considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He underscored the imperative to continue to \u201cbuild in the open in collaboration with the community&#8221; and added the mining system would follow the \u201chardware wallet model.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cMining needs to be more distributed,\u201d he noted, reminding how \u201cthe more decentralized this is, the more resilient the Bitcoin network becomes.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cEnergy is a system-level problem that requires innovation in silicon, software, and integration,\u201d he said, touching on the importance of improving clean and efficient energy use.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cBitcoin mining should be as easy as plugging a rig into a power source. There isn\u2019t enough incentive today for individuals to overcome the complexity of running a miner for themselves,\u201d Dorsey continued, arguing that mining should become more accessible to everyone.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The American billionaire technology entrepreneur, Jack Dorsey, best known as the co-founder and CEO of Twitter and the founder and CEO of the financial services and digital payments company Square, left the crypto community on Twitter wondering what is implied with the enigmatic number \u2018705742.\u2019 The ambiguity of his short numeric tease opened up the [&hellip;]<\/p>\n","protected":false},"author":699,"featured_media":202259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2376,29],"tags":[76769],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jack Dorsey\u2019s enigmatic tweet sets Bitcoin (BTC) mining rumours ablaze<\/title>\n<meta name=\"description\" content=\"Jack Dorsey, left the Bitcoin community on Twitter wondering what is implied with the number \u2018705742.&#039; Here&#039;s what happened.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/jack-dorseys-enigmatic-tweet-sets-bitcoin-btc-mining-rumours-ablaze\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jack Dorsey\u2019s enigmatic tweet sets Bitcoin (BTC) mining rumours ablaze\" \/>\n<meta property=\"og:description\" content=\"Jack Dorsey, left the Bitcoin community on Twitter wondering what is implied with the number \u2018705742.&#039; Here&#039;s what happened.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/jack-dorseys-enigmatic-tweet-sets-bitcoin-btc-mining-rumours-ablaze\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-22T07:00:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-24T03:21:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/dorsey-tweet-bitcoin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ana Grabundzija\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ana Grabundzija\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/jack-dorseys-enigmatic-tweet-sets-bitcoin-btc-mining-rumours-ablaze\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/jack-dorseys-enigmatic-tweet-sets-bitcoin-btc-mining-rumours-ablaze\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#person\",\"name\":\"Ana Grabundzija\",\"url\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"caption\":\"Ana Grabundzija\"},\"jobTitle\":\"Journalist\",\"description\":\"Dr. Ana Grabundzija is a Zagreb-bred writer with an academic background in anthropology. 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