The Bitcoin Mining Council officially launched this weekend, reporting that billionaire SpaceX co-founder and Tesla owner Elon Musk has no role within it.
El Bitcoin Mining Council, the Bitcoin Mining Council made up of companies such as microstrategy, Galaxy Digital and by the large Bitcoin miners in America, officially began its work this weekend, amid the rise of controversies regarding the energy consumption of the cryptocurrency.
The co-founders of the Bitcoin Mining Council They launched a website to inform the community about the functions that the organization will fulfill, as well as the objectives it pursues and the role that its founding members play in the defense of Bitcoin (BTC) and its fundamental principles.
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Elon Musk, without any major role in BMC
On the BMC website, the following are listed as co-founders: microstrategy, Galaxy Digital, Marathon Patent Group, Riot Blockchain, Hat 8, Core Scientific, Argo Blockchain y BlockCap. Tesla, the company represented by Elon Musk, and which still maintains a significant investment in Bitcoin, does not appear anywhere. In addition to this, a section of the Bitcoin Mining Council clarifies that:
“Elon Musk has no role in BMC.”
According to him, the South African billionaire and tycoon, who is a naturalized American, was invited to participate in an educational call that brought together several companies interested in discussing Bitcoin mining, but that he is not actually part of the new organization. At first, when the creation of this council was announced, it was believed that Elon Musk was one of its founders.
In recent weeks, Musk, considered one of the smartest people in the world, has been strongly critical of Bitcoin and its mining activity, reporting that Tesla would stop accepting bitcoins as a means of payment due to environmental concerns. His refusal was related to the sharp drop that BTC suffered in mid-May, earning the aversion of several members of the crypto community and provoking the rejection of thousands of others who now question Musk's interests in the cryptocurrency.
Amid the tycoon's reputational crisis, it seems logical that he is not, at least for the time being, a member of the Bitcoin Mining Council. However, the tycoon recently revealed that his company could once again accept bitcoins as payment for its vehicles if it is proven that more than half of the active miners use renewable energy sources in their operations.
Open doors for all
The statements of the Bitcoin Mining Council The comments about Elon Musk provoked different reactions from users. Some say it is a form of exclusion from an organization that seeks to centralize Bitcoin mining, while others argue the opposite.
Michael saylor, CEO of MicroStrategy, clarified on Twitter that the doors of the Bitcoin Mining Council are open to anyone who wants to participate, and that the organization does not seek to centralize cryptocurrency mining, but rather to provide greater transparency to the industry to combat the spread of misinformation about Bitcoin and its energy consumption.
Saylor, who the council says is one of its key members, explained that the Bitcoin Mining Council will promote transparency, share best practices and educate the entire society about the benefits of Bitcoin and its mining activity.
El Bitcoin Mining Council clarified that it is just an extension of the community, and not an organization seeking control or power over the network. On its website, it reads: “It is an open and voluntary forum of Bitcoin miners committed to the network and its fundamental principles”.
Future expansion plans
Although the Bitcoin Mining Council The Council is taking its first steps with the help of American miners and companies, and it states that any miner, from anywhere in the world, can join the Council and contribute to minimising the environmental concerns that exist regarding the network.
Since Elon Musk's statements, discussions about Bitcoin's "excessive" energy consumption or its "large" use of fossil fuels that pollute the environment have become the most popular topics today. Countries such as China and Iran are taking strong measures to control and restrict bitcoin mining, compromising the price of the cryptocurrency. On the other hand, El Salvador is promoting a project for the production of geothermal energy for bitcoin mining with clean energy, 100% free of carbon emissions.
Over the past 30 days, Bitcoin has suffered 4 major drops that have brought its value to $30.000 per unit, although its price has recovered within a few hours. At the time of writing, BTC is trading at a value of $39.330.
Continue reading: From China to North America and Europe: Bitcoin miners begin to migrate from the Asian powerhouse
