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Jack Dorsey: Square Could Build Bitcoin Mining System

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CEO of financial services company Square Jack Dorsey could take another step further into expanding the Bitcoin ecosystem. Via his Twitter account, Dorsey announced that the company is currently “considering” the possibility of creating a BTC mining system.

Related Reading | Square’s Cash App Reports $2.7B In Quarterly Bitcoin Revenue, A 200% Jump

A known Bitcoin bull, Dorsey has been exploring the sector throughout 2021 with important partnerships created with Ark’s Cathie Wood. As NewsBTC reported, the partners proposed an alternative driven system to support a renewable energy grid with Bitcoin miners.

Now, Square could be based their mining system on “custom silicon and open source for individuals and businesses worldwide”, the announcement said. Dorsey clarified that the mining system could track its hardware wallet model.

In August, the company revealed a new project to build a decentralized exchange to facilitate Bitcoin peer-to-peer trading alongside a hardware wallet. Similar to today’s announcement, the company emphasized the need to collaborate with the community and the ecosystem to benefit the project and the network.

Dorsey made some reflections on the nature of mining and:

Mining needs to be more distributed. The core job of a miner is to securely settle transactions without the need for trusted 3rd parties. This is critical well after the last bitcoin is mined. The more decentralized this is, the more resilient the Bitcoin network becomes.

In that sense, the CEO of Square believes BTC mining needs to be “more efficient” and to continue to move towards clean energy.

Related Reading | Why Square Will Create New Bitcoin-Focused Company, According To CEO Jack Dorsey

As stated in the aforementioned Whitepaper, BTC mining could be used to create and support an alternative energy system. Dorsey believes BTC and its network are a potential source of innovation for the renewable energy dilemma.

Square To Work On Bitcoin Mining For The Mainstream

Therefore, Square wants to make BTC mining more accessible to everyone in order to resolve the issues around Silicon design and vertical integration in the energy sector. Dorsey said:

Mining isn’t accessible to everyone. Bitcoin mining should be as easy as plugging a rig into a power source. There isn’t enough incentive today for individuals to overcome the complexity of running a miner for themselves. What are the biggest barriers for people running miners?

The CEO of Square said Jessi Dorogusker will lead a team to research the technical requirements to undertake the project with Afshin Rezayee and Thomas Templeton. Dorogusker said:

We will incubate the Bitcoin mining system project inside Square’s hardware team, starting with architecture, design, and prototyping of more efficient silicon, hashing algorithms, and power architectures.

At the time of writing, BTC trades at $61,945 with a 7% and 16.1% profit in the daily and weekly charts, respectively.

BTC on a rally in the weekly chart. Source: BTCUSD Tradingview

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Personal Computer and NFT of Wikipedia Founder Set Ready for Auction

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Personal Computer and NFT of Wikipedia Founder Set ready for Auction
  • Jimmy Wales used the computer and NFT is ready up for auction.
  • The auction will support fund Wales another project WT.Social project.
  •  The two lots of computers and NFT are for auction on December 15.

Wikipedia founder, Jimmy Wales personal computer, as well as the Non-fungible Token (NFT) of the first edit, is ready up for auction.

Furthermore, the personal computer, used by Jimmy Wales for programming the reference resource 20 years ago will be auctioned off, along with an NFT commemorating his first edit on the platform, as per auctioneers.

Moreover, Strawberry iMac, utilized by Jimmy Wales for development and research at the time of the website’s launch on January 15, 2001. According to the auction house Christie’s in charge of the sale, the auction will begin Friday in New York.

Henceforth, Christie’s auction house specialist Peter Klarnet mentioned, the next lot is for an NFT. It is a unique digital artifact that transfers ownership through blockchain technology. Generated by Wales of Wikipedia’s debut onscreen image when he uploaded the first text, “Hello World”.

As per the auction house, the non-fungible token (NFT), will be provided in JPEG format. It will be interactive, the buyer will be able to alter or edit and make some changes to the page. This may reset with a timer to revert to its original state.

Even more, the part of the proceeds from the auction will support fund Wales another project WT.social project. A non-toxic alternative social media network using an advertising-free model.

Therefore, the two lots of personal computers and NFT are for auction on December 15. Peter Klarnet stated, with Christie’s hoping they will sell for hundreds of dollars. The non-fungible tokens (NFTs), found to be the favorite art form of auction houses and the art markets for some collectors and investors.

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Dogs on Solana: Doge Capital Announces Doge NFT Staking Program. Users can Earn $DAWG Daily

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Dogs on Solana: Doge Capital Announces Doge NFT Staking Program. Users can Earn $DAWG Daily

Guwahati, India, 4th December, 2021, Chainwire

When the world is fixated on Apes, whales and other NFTs, the most famous of all memes, the one that started a whole new revolution within cryptocurrencies, remains largely ignored. Doge Capital’s exclusive NFTs tackle this issue and at the same time, allow for its NFT holders a whole new income stream through its staking program that offers daily $DAWG tokens as a reward.

Woof Club

Doge Capital has made a limited quantity of the NFTs, each is a cute pixel art (24×24 pixel) that belongs to the exclusive 5,000 NFT collection. To join the Doge Capital Woof Club, a user must hold at least one of these NFTs. Each NFT and its art representation is ensured to be unique through the use of generative coding, where a computer program creates random variations, making each piece one of a kind.

While the NFTs will be making their own worth in the NFT sphere, there is a lot more to it than just an increase in value. Doge Capital is offering a staking program in which these NFTs can be put to good use. Staking will lead to a consistent income stream through the release of Doge Capital’s utility token, the $DAWG. Apart from this, the Doge Capital platform will also be backing its users through the procurement of other NFTs. Every NFT acquired by Doge Capital will be put in the WoofBank, a community wallet. Since users will be holding Doge NFTs and $DAWG, they will be the true owner of the bank.

How to Stake to earn $DAWG

$DAWG, the utility token of the platform, is more than just a digital asset. Already listed on Raydium and Dexlab, the token is liquidable and hence, a perfect source of earning for Doge Capital users. While users can go to the exchanges and buy the $DAWG token, they can also invest in Doge Capital NFTs and its additional airdrops, and stake these to earn free tokens.

When staking is live, users can head over to the staking section on the Doge Capital website and decide which Doge NFT they would like to commit. 1 Doge NFT staked means 5 $DAWG token reward per day, while an airdropped NFT will mean 1 $DAWG per day.

It is advisable to stake both as claiming the rewards requires a user to have both committed. Once the stake is farmed, 1 airdropped NFT will be burnt (the Doge NFT will remain unaffected). This will encourage users to stake for longer periods and bring about stability to the $DAWG token.Doge Capital will continue to drop supplementary NFTs so that airdropped NFTs are available for users to burn should they want to claim their rewards multiple times.

The $DAWG Tokenomics

Total Supply : 30 Million

Circulating Supply : 1.5 Million (Circulating Supply will remain the same until staking is live)

The distribution of 30 Million tokens is as follows :

1% – Airdrop to Doge Capital holders who have delisted their Doges from marketplaces

5% – Initial liquidity on Raydium

10% – Reserve Liquidity (Liquidity to be added to the pool in the future)

10% – Team & Advisors (This will be distributed monthly over 20 month. Therefore, distribution per month is just 0.5%)

14% – Marketing

60% – Staking Rewards

About Doge Capital

Doge Capital believes in the power of the people and the WoofDAO is built just for that. The DAO will let users decide as a community on the way forward. For example, should the users like to liquidate NFTs in the WoofBank or distribute it amongst themselves? The decision is to be made by them. $DAWG offers exclusive access to future Doge Capital activities and events, including limited merchandise. The token acts as a medium of exchange within the Doge Capital ecosystem and will be the only way to pay for the different services and products offered. 

For more information about Doge Capital, visit their website,Follow Doge Capital on Twitter and Join their Discord Channel 

About the Team

Dogefather – Lead Developer:

Twitter : https://twitter.com/thecryptofunnel

Instagram : https://www.instagram.com/cryptofunnel/

GomuGomuNo – Marketing :

Twitter : https://twitter.com/thecryptohike

Instagram : https://www.instagram.com/cryptohike/

Thiccdoge – Art:

Twitter : https://twitter.com/Thethicdoge 

Doge Capital is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
 

Contacts

Co-Founder

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Bitcoin Tanks to Two Months Low Amid Global Market Fall

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Bitcoin Tanks to Two Months Low Amid Global Market Fall
  • The cryptocurrency has subsequently regained some of its losses.
  • Cardano, Solana, Polygon, and Shiba Inu all suffered significant losses.

Investors’ pre-Christmas risk-aversion has wreaked havoc on global markets. Right from stocks to cryptocurrency. Bitcoin became the latest cryptocurrency to succumb to severe selling pressure. Falling by as much as $10,000 in an hour to settle at $42,000 earlier on Saturday.

BTC/USDT: Source: TradingView

The cryptocurrency has subsequently regained some of its losses and was last trading at $47,661.75, down more than 16%. Ethereum, the second most valuable cryptocurrency by market capitalization, had a similar sell-off, falling about 15% to $3,905.

Multiple Factors Behind the Slide

A risk-off sentiment that has seized global markets in the aftermath of the release of a revised COVID-19 version and US Federal Reserve Chairman Jerome Powell’s unexpected shift toward hawkishness triggered the collapse.

Powell’s support for a more aggressive reduction of the US Federal Reserve’s bond-buying program, which would reduce systemic liquidity and tighten financial conditions compared to the historically lax circumstances of the previous 21 months, is seen as a negative for market speculative activity.

Euro Pacific Capital’s chief economist and global strategist, Peter Schiff, said on Twitter:

“Risk assets like stocks and Bitcoin are tanking simply because Powell hinted the Fed might wrap up the taper a couple of months early and the first 1/4 point rate hike may also come a bit sooner.”

Cardano, Solana, Polygon, and Shiba Inu all suffered significant losses in the cryptocurrency market, falling between 13 and 20 percent.

According to analysts, a large portion of the selling pressure in the Bitcoin market came from the cash side. Exacerbated by dealers’ highly leveraged holdings in Bitcoin derivatives. Furthermore, prices immediately fell to $42,000 since traders’ stop-loss orders on their derivative contracts were invoked. According to CoinMarketCap, the Bitcoin price today is $47,661.40 USD. And a 24-hour trading volume of $60,141,042,990 USD.

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