Jack Dorsey runs a Bitcoin node

By claudio831 | claudio83 | 5 Feb 2021


Jack Dorsey, CEO of the well-known social platform Twitter and of Square, which currently reaches hundreds of millions of active users on the application, has posted a tweet showing the installation of a Bitcoin node. The node has no reference to mining, so it does not serve to validate blocks and consequently you do not get rewards, but it is useful to check firsthand everything that happens on the network.

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Installing a node and synchronizing it is a long operation. The download of the Bitcoind software alone has a size of over 300 GB while the synchronization of the network can take several days, it all depends on the power of the PC used. For example, in the photo of the synchronization it is clear that at that moment it was at 2% and to date Jack has not published any other tweets on the progress or on its completion. The operation may therefore still be in progress. There are currently between 7000 and 10000 active nodes,

The question is, why did Jack Dorsey install a Bitcoin node on his computer?

The reason is not yet known at the moment, however, it is not a mystery that the Twitter CEO is passionate about Bitcoin and is a supporter of it, as well as being probably also a hodler. But I tried to fantasize a bit, based on a retweet posted a couple of days ago

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The tweet published by Documenting Bitcoin announces that the city of Miami will offer the possibility to its employees to receive wages, or part of it, to its employees. Jack's comment was simply _Smart_. What can it mean? I hypothesize that this wage payment system can also be considered for its companies and employees. The node would be used to monitor himself, probably in a first experimental phase, that all transactions are correctly executed and this may not be the only reason.

As a big Bitcoin advocate, it wouldn't surprise me that he is creating something that could see the light in the coming months. On the other hand Jack is a great entrepreneur and his job is to create products in order to produce profits. His far-sightedness knows that Bitcoin and crypto are the future so, whether others like it or not, it is advisable to start working on it before others do. What his product could be is really difficult to imagine but it is plausible that it can also be linked to his sphere of competence, namely the social one.

My idea, perhaps even more imaginative, knowing the problem of censorship also present on Twitter, could indicate a migration of the social network on the blockchain, but this hypothesis is really remote, as Twitter is currently listed on the stock exchange and could cost shareholders dearly. In your opinion, what could be the reason for his participation in a Bitcoin node? Everything remains a mysterious and fascinating subject

 

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claudio831
claudio831

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claudio83
claudio83

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