Twitter and Square CEO Jack Dorsey running his own Bitcoin node

[worle1bm]

One of the great advocate of Bitcoin and CEO of social media platform Twitter and founder of Square, Jack Dorsey is now officially running his own Bitcoin node on the blockchain network as tweeted by him.He has previously promoted the growth of Bitcoin by launching #bitcoin for the users and allowing users to buy Bitcoin through his cash app.He is one who strongly believes in Bitcoin and always happy to admire the efforts of other in progressive way but now this time he has setup his own node which means he will validate transactions and add them in the block and mining btc as rewards using his node.He tweeted this on Friday:


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The article further provides the detail for the same:Coindesk

The global leaders who knows its importance are standing in favour of it and utililizing it's benefits.Jack Dorsey has involved himself at the time when mining has become difficult and costly as you need more hashing power and electricity to solve the cryptographic puzzle faster than other networks even if the rewards have been reduced to 6.25 btc per block mined.The only reason is you will still have good amount left with you when the prices will skyrocket in the future and you will ignore mining cost at that time.So isn't it interesting for you?

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[Daltonik]

Jack Dorsey's payment firm Square has joined the patent protection consortium the Open Invention Network. According to the company, this step is an attempt to protect the cryptocurrency industry from a flood of patent lawsuits similar to those that pursue smartphone developers, and to promote the growth of the sector. https://ca.finance.yahoo.com/news/square-inc-joins-open-invention-090000946.html

[ranochigo]

He is one who strongly believes in Bitcoin and always happy to admire the efforts of other in progressive way but now this time he has setup his own node which means he will validate transactions and add them in the block and mining btc as rewards using his node.He tweeted this on Friday:

The global leaders who knows its importance are standing in favour of it and utililizing it's benefits.Jack Dorsey has involved himself at the time when mining has become difficult and costly as you need more hashing power and electricity to solve the cryptographic puzzle faster than other networks even if the rewards have been reduced to 6.25 btc per block mined.The only reason is you will still have good amount left with you when the prices will skyrocket in the future and you will ignore mining cost at that time.So isn't it interesting for you?

That is wrong. Running a full node isn't equivalent to mining. They cannot mine a block just by running a full node, you need sufficient computational power for that, for which he definitely doesn't have. In a perfect world, economics might function on a supply-demand concept but it is hardly the case. It is just wishful thinking for people to assume that it will rise just because of it's deflationary principle.

If anything, the tweet is only to raise more awareness. It is easy to run a full node and everyone can do it. It isn't a big deal for anyone to do so.

[mk4]

Jack Dorsey is now officially running his own Bitcoin node on the blockchain network as tweeted by him.

I could almost guarantee that Jack Dorsey—being quite a technologically gifted person(understatement), has been running his own full node for a while now. This Tweet is most likely just an endorsement of running your own node, not necessarily that he just set up his own node for the first time.

[Poker Player]

That is wrong. Running a full node isn't equivalent to mining.

I was going to say this. OP the basic concepts should be reviewed. I don't have much technical knowledge but that difference is clear to me.

If anything, the tweet is only to raise more awareness. It is easy to run a full node and everyone can do it. It isn't a big deal for anyone to do so.

What I see as good about the news is that it is one more step in the popularization of Bitcoin. Even people who do not understand much about Bitcoin but see the news thinking having a node=mining, see that someone known is getting more involved.

[Fundamentals Of]

Jack Dorsey is now officially running his own Bitcoin node on the blockchain network as tweeted by him.

I could almost guarantee that Jack Dorsey—being quite a technologically gifted person(understatement), has been running his own full node for a while now. This Tweet is most likely just an endorsement of running your own node, not necessarily that he just set up his own node for the first time.

This news came out early this year. It was headlined in many publications, crypto publications particularly. There was no indication that Jack was already running his own node earlier. Jack's announcement came out as a sort of saying he is now supporting Bitcoin in another way. But he is of course already a strong Bitcoin advocate when he did this. He already made positive statements and pitched for Bitcoin years before he started running his own node.

[mk4]

This news came out early this year. It was headlined in many publications, crypto publications particularly. There was no indication that Jack was already running his own node earlier. Jack's announcement came out as a sort of saying he is now supporting Bitcoin in another way. But he is of course already a strong Bitcoin advocate when he did this. He already made positive statements and pitched for Bitcoin years before he started running his own node.

Sure he hasn't announced in an earlier time; but do people in general actually need to announce the fact that he/she is running a node the first time he/she sets it up lol? I mean it's definitely a good thing, but on the other hand it really is nothing groundbreaking and newsworthy. Just like how when Jack showed the world that he has a BlockClock, doesn't necessarily mean that he literally just bought it.

[pooya87]

What I see as good about the news is that it is one more step in the popularization of Bitcoin.

Maybe I've lost faith in humanity but whenever I see something like this I immediately remember Elon Musk and others like him who started the same way and people thought it is going to help "in popularization of bitcoin" but it ended up only giving them some popularity which they abused in the end.

He has sold an NFT garbage and talked about creating a DeFi platform, so I wouldn't be so sure about his intentions...
As they say "Beware of Greeks bearing gifts".

[mk4]

Maybe I've lost faith in humanity but whenever I see something like this I immediately remember Elon Musk and others like him who started the same way and people thought it is going to help "in popularization of bitcoin" but it ended up only giving them some popularity which they abused in the end.

He has sold an NFT garbage and talked about creating a DeFi platform, so I wouldn't be so sure about his intentions...
As they say "Beware of Greeks bearing gifts".

Yea, there will always be good actors and bad actors. I just think that we should give him(or anyone) the benefit of the doubt. Something something innocent until proven guilty.

As for the NFT, it was donated to charity. And as for the DeFi platform, he's pushing it to be developed on Bitcoin.

[NeuroticFish]

Maybe I've lost faith in humanity but whenever I see something like this I immediately remember Elon Musk and others like him who started the same way and people thought it is going to help "in popularization of bitcoin" but it ended up only giving them some popularity which they abused in the end.

I agree 100% that it's all about his image, about his popularity.
But for now I see a difference though: Jack has to maintain a good image in bitcoin community for the sake of his businesses, whether we talk about Square, or his upcoming hardware wallet or whatever he has in mind. On the other hand most of Elon's businesses are - by far - unrelated to crypto/bitcoin and he has his own destructive way to abuse his popularity, proven by his past, even before the bitcoin story.

[Jating]

Jack Dorsey is now officially running his own Bitcoin node on the blockchain network as tweeted by him.

I could almost guarantee that Jack Dorsey—being quite a technologically gifted person(understatement), has been running his own full node for a while now. This Tweet is most likely just an endorsement of running your own node, not necessarily that he just set up his own node for the first time.

I agree, everyone can run a full node if you are capable, so I think Jack being in the bitcoin market for many years now could have been running it for years already. Maybe this tweet is to show his full fledge support on BTC and maybe others would run their own node too. Just a little technical know how and you are good to go. And then of course, he wanted to be that influential (in a good way).

[Wind_FURY]

OP, I’m very confident that he has been running his own full node from the first day that he started HODLing Bitcoin. His post might simply be a reminder that you’re only actually using Bitcoin through your own node. OR, that’s his 10th node. He might be searching for the perfect set up. Hahaha.

[mk4]

I am not sure if it's worth announcing or not but Jack made it himself. I am also not sure if it is newsworthy or not but what I know is that his announcement became news not just among cryptocurrency publications but also in others, even in Nasdaq. And the word used was "launched".

If I set up my own node, I won't be announcing it. Even if I do, people don't care. If somebody as popular and influential as Jack Dorsey does, that's already a big thing.

So.. the "announcement" being a big deal or not, how does it change the fact that it's highly likely that he has been running his own node for a while now? My main point still stands.

[Daltonik]

Twitter users on iOS devices have the opportunity to accept donations via the Lightning Network. To do this, you need to connect a third-party service like CashApp to the profile. https://www.coindesk.com/tech/2021/09/23/twitter-to-add-bitcoin-lightning-tips-nft-authentication/

[pawanjain]

Jack Dorsey is now officially running his own Bitcoin node on the blockchain network as tweeted by him.

I could almost guarantee that Jack Dorsey—being quite a technologically gifted person(understatement), has been running his own full node for a while now. This Tweet is most likely just an endorsement of running your own node, not necessarily that he just set up his own node for the first time.

That might be true but the screenshot shows that the progress for his initial block download is still at 0.02 meaning he has just downloaded 20% of the blockchain data yet.
This does mean that he his starting the full node all over again or may be it can really be his first time.
But it's good that he is showcasing it to the people and now I guess more people will follow his lead.
Happy to be a full node myself 

[Daltonik]

Twitter's head of marketing, Justin Taylor, posted a video demonstrating an interface for working with NFT, which Twitter platform members will be able to use as avatars. To use NFT instead of a profile photo, the user will need to connect a digital wallet and select a token. The blockchain in which the asset is released will be displayed next to the avatar.

Users will also be able to showcase their collections. Twitter promises to add the corresponding Collectible tab to the activity menu.

[nullama]

This is probably a reference to Hal Finney's 2009 tweet:

https://twitter.com/halfin/status/1110302988

[Daltonik]

Jack Dorsey said that Square is considering the possibility of creating an open source bitcoin mining device. According to Jack, in order to increase the stability of bitcoin, mining should become more decentralized, simpler and more accessible.

[tyz]

Jack Dorsey is now officially running his own Bitcoin node on the blockchain network as tweeted by him.

I could almost guarantee that Jack Dorsey—being quite a technologically gifted person(understatement), has been running his own full node for a while now. This Tweet is most likely just an endorsement of running your own node, not necessarily that he just set up his own node for the first time.

I also think that this is not his first private Bitcoin node. Especially since he has been a supporter of Bitcoin for a long time.
But isn't it possible that he is referring to the first Bitcoin node running by Twitter itself? After all, Twitter is planning to support Lightning transactions soon. Thus, the assumption would not be so far-fetched.

[jossiel]

Jack Dorsey said that Square is considering the possibility of creating an open source bitcoin mining device. According to Jack, in order to increase the stability of bitcoin, mining should become more decentralized, simpler and more accessible.

This could also be one adding factor to the recent up that we saw.

Actually too many factors that we can think of with the recent price increase and everything that's related to the positive news like this is part of it.

Jack is serious with bitcoin and has been adding everything he can to contribute to price increase.