News: 0175433697

  ARM Give a man a fire and he's warm for a day, but set fire to him and he's warm for the rest of his life (Terry Pratchett, Jingo)

Jack Dorsey's Block Scraps 'Web5' Project

(Friday November 08, 2024 @11:45AM (msmash) from the RIP-web5 dept.)


Block will [1]abandon development of its [2]Web5 decentralized internet project and reduce investment in music streaming service Tidal to focus on bitcoin mining hardware and self-custody wallets, the payments company announced in its third-quarter letter to shareholders. The Jack Dorsey-led firm cited strong market demand for its bitcoin mining products and Bitkey wallet as key drivers behind the strategic shift.



[1] https://www.coindesk.com/business/2024/11/07/jack-dorseys-square-to-invest-more-in-bitcoin-mining-and-shut-decentralized-web5-web-venture/

[2] https://tech.slashdot.org/story/22/06/11/0125221/jack-dorseys-tbd-announces-web3-competitor-web5



Trump (Score:3)

by AmiMoJo ( 196126 )

I wonder if this is because Bitcoin and crypto is a favourite scam of the president elect?

Re: (Score:2)

by Bill, Shooter of Bul ( 629286 )

Its not a scam in the same way that a thermonuclear bomb isn't evil. Its intended purpose is evil sure. And the intended use of Bitcoin is a scam, but sure bitcoin itself is not a scam. And bombs aren't evil.

Re:Trump (Score:4, Interesting)

by dmay34 ( 6770232 )

Look who it's supporters are.

Go ahead, list them out.

Now tell me again why it's not a scam.

We have the bros to thank for 2nd Trump term (Score:2)

by NoMoreDupes ( 8410441 )

> Look who it's supporters are. Go ahead, list them out.

> Now tell me again why it's not a scam.

Indeed - and the bros [1]have already admitted [coindesk.com] that we have craptocurrency backers to thank for another Trump term:

> Buoyed by donations and votes from a digital asset industry he aggressively courted, Trump won a second term to the White House

And they're [2]already on their way to corrupt the next elections [coindesk.com] (but only to whomever supports their crypto corruption - how noble!)

[1] https://www.coindesk.com/policy/2024/11/06/trumps-triumph-is-also-cryptos-gensler-regulatory-clouds-likely-to-vanish/

[2] https://www.coindesk.com/policy/2024/11/04/andreessen-horowitz-donates-23m-to-crypto-super-pac-fairshake-for-2026-elections/

Re: Trump (Score:2)

by haxor.dk ( 463614 )

This only scam here is the people posting comments about Trump in unrelated stories to harvest karma from the TDS-afflicted. Nice try though.

Re: (Score:2)

by NoMoreDupes ( 8410441 )

> about Trump in unrelated stories to harvest karma from the TDS-afflicted. Nice try though.

More MAGA lies. [1]Nice try though. [slashdot.org]

[1] https://tech.slashdot.org/comments.pl?sid=23514567&cid=64930759

Thou shalt count no further (Score:2)

by Larsrc ( 1285062 )

5 is right out!

Naming troubles (Score:3, Informative)

by posixively_true ( 10440450 )

With titles like "Block", "Threads" or simply "X", - whether it is the UNIX display system or the shitshow that was previouly called Twitter that was already bad before its takeover but somehow found a way to be worse - technology companies names have become very confusing.

Re: (Score:2)

by Bill, Shooter of Bul ( 629286 )

This is why Mastodon and Bluesky aren't terrible names? If you can't make something clearly defined, use a common term in an unexpected way.

Heard a guy talking about Bitcoin in a bar: (Score:1)

by Anonymous Coward

He said: "Fiat currencies are obsolete. They're total crap."

His friend: "Really? Like what currencies?"

Guy: "Anything - the Euro, the Yen, even the USD - all crap."

Friend: "Uh Ok; so like, what's Bitcoin's worth then?"

Guy: "Each coin is worth north of $75K right now."

Friend: "What?! $75K?? As in USD??"

Guy: "Yeah - over $75K USD each"

Friend: "Wow. Bitcoin sure is a lot of crap!"

The complexity of software is an essential property, not an accidental one.
Hence, descriptions of a software entity that abstract away its complexity
often abstract away its essence.
-- Fred Brooks, Jr.