Bitcoin Mining Council goes live, Elon Musk is sidelined – News Bitcoin News

The Bitcoin Mining Council has gone live and has launched its own website listing its members and the mission statement of the organization. The council originated as a closed organization, but they now allow any miner to join. While Michael Saylor is given founding member status, the website states that Elon Musk has “no role” on the council.

Official start of the Bitcoin Mining Council

The Bitcoin Mining Council, an organization that arose out of concerns about Bitcoin’s energy consumption, was officially founded yesterday. The Council presents its mission statement on the website. It also explains the plan to tackle the task of addressing Bitcoin energy worries. On the side it says:

The Bitcoin Mining Council’s mandate is to promote transparency, share best practices, and educate the public about the benefits of Bitcoin and Bitcoin mining.

In order to achieve this, the individual members must provide precise energy figures. Miners and mining companies have traditionally been reluctant to openly share these statistics. The council made its debut last month when Michael Saylor hosted a meeting of a group of several miners in America. The goal of the meeting was to move Bitcoin mining in a cleaner and greener direction. However, the Bitcoin Mining Council notes the following:

Bitcoin’s energy consumption is a feature, not a bug, and offers tremendous network security. By providing a forum for voluntary disclosure, miners can choose to share their energy sources in hopes of promoting transparency.

This focus clearly leaves behind the green boost that triggered it. While the Bitcoin Mining Council has 9 members including Microstrategy, the website states that any miner can join.

Elon Musk pushed aside

The Bitcoin Mining Council notes that Michael Saylor is one of the “key members of the BMC, both as an agent and a supporter of Bitcoin”. However, Elon Musk, whose activity was key to its creation, was sidelined. The website explains:

Elon Musk has no role in the BMC. The extent of his engagement was attending an educational call with a group of North American companies to discuss Bitcoin mining.

While Elon Musk was not involved in founding the organization, he drew public attention to Bitcoin’s energy consumption. Musk described Bitcoin’s energy footprint as “insane” in one of his tweets. Tesla, the vehicle manufacturer where Musk is CEO, has also stopped accepting Bitcoin as a payment method for environmental reasons. This was a crucial factor in causing the market to decline. All of this led the miners to take the issue seriously. In any case, the resigning seems to go hand in hand with Musk’s recent Twitter divorce from Bitcoin.

What do you think of the Bitcoin Mining Council? Let us know in the comments section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons

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