The Bitcoin Mining Council has gone live and launched its own website, detailing its members and the organization’s mission statement. The committee was originally a closed organization, but they now allow any miner to join. Although Michael Seller was granted the status of a founding member, the website said that Elon Musk had “no role” in the committee.
The Bitcoin Mining Committee is formally established
The Bitcoin Mining Council, an organization born out of concerns about Bitcoin’s energy consumption, was formally established yesterday. On the website, the committee displays its mission statement. It also explains the plan to solve the Bitcoin energy problem. The website states:
The mission of the Bitcoin Mining Council is to increase transparency, share best practices, and educate the public about the benefits of Bitcoin and Bitcoin mining.
In order to achieve this, individual members need to provide accurate energy figures. Traditionally, miners and mining companies are reluctant to share these statistics publicly. The committee made its debut last month when Michael Saylor hosted a meeting of several miners in the United States. The purpose of the meeting is to point Bitcoin mining in a cleaner and more environmentally friendly direction. However, the Bitcoin Mining Council noted:
Bitcoin’s energy use is a feature, not a mistake, and provides tremendous network security. By providing a forum for voluntary disclosure, miners can decide to share their energy in order to increase transparency.
This attention clearly left the green push that triggered it. Although the Bitcoin Mining Council has 9 members including Microstrategy, the website states that any miner can join.
Elon Musk was pushed aside
The Bitcoin Mining Council stated that Michael Saylor is “one of the main members of BMC, both a promoter and a supporter of Bitcoin.” However, Elon Musk, whose activities were crucial to its establishment, was put on hold. The website states:
Elon Musk has no role in BMC. His level of participation was to participate in an educational conference call with a group of North American companies to discuss Bitcoin mining.
Although Elon Musk did not participate in the creation of the organization, he has aroused public concern about Bitcoin’s energy consumption. Musk called Bitcoin’s energy footprint “crazy” in one of his tweets. Due to environmental issues, Tesla, the car company where Musk is the CEO, also stopped accepting Bitcoin as a payment method. This is the key situation to start the market downtrend. All these have prompted miners to take this issue seriously. In any case, this regression seems to be inseparable from Musk’s recent divorce from Bitcoin on Twitter.
What do you think of the Bitcoin Mining Council? Tell us in the comments section below.
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