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The Bitcoin Mining Council has gone live and launched its own website detailing its members and the organization’s mission statement. The council was originally a closed organization, but now allows any minor to join. As Michael Saylor obtains founding member status, the site indicates that Elon Musk has “no role” on the board.
Official launch of the Bitcoin Mining Council
The Bitcoin Mining Council, an organization born out of concerns about Bitcoin’s energy consumption, was officially launched yesterday. On the website, the board presents its mission statement. He also explains the plan to tackle the task of solving bitcoin energy problems. The site specifies:
The mandate of the Bitcoin Mining Council is to promote transparency, share best practices, and educate the public on the benefits of Bitcoin and Bitcoin mining.
To achieve this, individual members must provide accurate energy figures. Miners and mining companies have traditionally been reluctant to share these statistics in the open. The council got its start last month when Michael Saylor hosted a meeting of a group of several miners in America. The goal of the meeting was to steer bitcoin mining in a cleaner and greener direction. However, the Bitcoin Mining Council states that:
Bitcoin’s power consumption is a feature, not a bug, and provides exceptional network security. By providing a forum for voluntary disclosure, miners can decide to share their energy sources, in the hope of promoting transparency.
This orientation clearly leaves behind the green push that initiated it. While the Bitcoin Mining council has 9 members, including Microstrategy, the site says any miner can join.
Elon Musk dismissed
The Bitcoin Mining Council declares that Michael Saylor is one of the “key members of BMC, both as an enabler and supporter of Bitcoin”. However, Elon Musk, whose business was the key to its creation, has been sidelined. The site declares:
Elon Musk has no role at BMC. The extent of his involvement was to join an educational call with a group of North American companies to discuss Bitcoin mining.
Although Elon Musk was not involved in the creation of the organization, he drew public attention to the energy consumption of Bitcoin. Musk called Bitcoin’s energy footprint “crazy” in one of his tweets. Tesla, the auto company of which Musk is CEO, has also stopped accepting Bitcoin as a payment method due to environmental concerns. This is a key circumstance that has triggered a downtrend in the market. All of this has prompted miners to take the subject seriously. Either way, the flashback seems to go hand in hand with Musk’s latest Twitter divorce from Bitcoin.
What do you think of the Bitcoin Mining Council? Tell us in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
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