Twitter CEO Jack Dorsey has taken his love of cryptocurrency to the next level this week, showing off a clock displaying cryptocurrency prices.
Dorsey stood before the House Energy and Commerce Committee on Thursday, one of several prominent tech figures who spoke of disinformation on social media, especially in relation to the Capitol attack.
But he appeared at a distance, as are most congressional hearings held during the pandemic.
As a result, people watching the stream could see empty glass bottles behind Dorsey’s head, piles of plates and bowls and what looked like a clock next to him.
During its appearance on the House Energy and Commerce Committee on Thursday, Jack Dorsey’s BlockClock Mini (circled) was shown in full for cryptocurrency enthusiasts
Pictured: The BlockClock Mini sold on the Coinkite website for $ 399
According to Gizmodoat one point the device read ‘1952’, which could be interpreted as military time (although it would not have been accurate based on the timing of the hearing).
But then the numbers switched to ‘676274’, which is no time.
The device is a BlockClock Mini, which is sold online by Coinkite for $ 399.
The 30x10cm device can “track exchange prices, see blocks as published by miners and connect Opendime to display balance, fiat value and QR codes,” the description said.
Some people on Dorsey’s social media platform couldn’t help but laugh at the bizarre background item.
“It’s the number of F’s he got today,” said one user.
“Forget the clock … look at the head of the guy’s cult leader,” said another, pointing to Dorsey’s unkempt appearance.
What are NFTs?
What is an NFT?
A Non-Fungible Token (NFT) is a unique digital token encrypted with an artist’s signature, verifying its ownership and authenticity, and permanently affixed to the piece.
How do they look like?
Most NFTs contain some type of digital artwork, such as photos, videos, GIFs, and music. Theoretically, anything digital could be turned into an NFT.
Where do you buy them?
At the moment, NFTs are usually sold in so-called ‘drops’, timed online sales through blockchain-supported marketplaces such as Nifty Gateway, Opensea and Rarible.
Why would I want one?
There are a number of reasons why someone might want to buy an NFT. For some, the reason may be emotional value as NFTs are viewed as collectibles. For others, they are seen as an investment opportunity similar to cryptocurrencies as the value could rise.
When are NFTs made?
Writer and podcaster Andrew Steinwold traced the origins of NFTs back to 2012, with the creation of the cryptocurrency Colored Coins. But NFTs didn’t hit the mainstream until five years later, when the blockchain game CryptoKitties started selling virtual cats in 2017.
The device, which almost looks like a doomsday, fits the bigger story of Dorsey’s obsession with cryptocurrency.
The CEO’s Twitter bio is short and to the point, simply reading ‘#bitcoin’ with the symbol at the end.
Earlier this week, Dorsey sold his very first tweet – ‘just up my twttr’ – as an NFT for just over $ 2.9 million.
The non-replaceable token (NFT) – a unique digital asset that has exploded in popularity in 2021 – was purchased Monday by Sina Estavi, the CEO of Malaysia-based blockchain company Bridge Oracle.
The sale came two weeks after Dorsey listed the March 21, 2006 tweet on a platform called Valuables, which auctions tweets as NFTs.
He said in a March 9 tweet that he would convert the proceeds from the auction into bitcoin and donate it to people affected by COVID-19 in Africa, quickly amassing bids of at least $ 88,888.
On Monday, Dorsey announced that he had donated more than $ 2,787 million worth of Bitcoin to Give Directly’s Africa fund.
In January, Christie’s became the first major auction house to create a digital work of art with a token.
The piece entitled ‘Everydays – The First 5000 Days’ by Beeple sold for $ 69 million.
Dorsey is also working with rapper Jay-Z on a new Bitcoin fund, with plans to move the cryptocurrency to India and Africa.
JAY-Z / @ S_C_ and I are giving 500 BTC to a new endowment called ₿trust to fund #Bitcoin development initially targeting teams in Africa and India. It will be set up as a blind irrevocable trust with no direction from us. We need three board members to get started, ” Dorsey tweeted on Feb. 12.
A week later, he revealed that more than 6,600 people applied for board seats and that the interviews would begin shortly.
The 500 Bitcoin they gave to the fund was worth about $ 24 million at the time.
According to Variety, Dorsey’s other company, Payment Processing Square – which recently bought a majority stake in Jay-Z’s TIDAL – has been able to support Bitcoin for more than three years.
Dorsey’s Twitter profile prominently shows his love for all things Bitcoin
Dorsey posted his famous first post (photo) from March 21, 2006 on a platform called Valuables, which auctions tweets as NFTs
On Monday, Dorsey announced that he had donated more than $ 2,787 million worth of Bitcoin to Give Directly’s Africa Fund
Twitter is also exploring the possibility of paying employees with Bitcoin.
Dorsey and Jay-Z may face an uphill battle to usher in a new era of cryptocurrency in India.
Reuters reports that India plans to propose a law that will ban cryptocurrency and fine traders and holders of the digital currency.
The law would make owning, issuing, mining, trading and transferring assets in the country a crime.
Cryptocurrencies holders would have up to six months to liquidate their assets before fines start to apply.
Cryptocurrency mining and trading is also illegal in China, although cryptocurrency ownership is not.
Dorsey has tried to bring more cryptocurrency into its businesses, including exploring the possibility of paying Twitter employees in Bitcoin