There was considerable anticipation for the first meeting of the Bitcoin Mining Concil. Due in particular to the mission that the body intends to pursue, that is one block extraction activities for the blockchain more environmentally friendly BTC.
The meeting was held on Thursday and gave rise to a first surprise, that relating to the fact that no role was assigned to Elon Musk. Who was the major promoter of the initiative, together with the CEO of MicroStrategy Inc., Michael Saylor.
A novelty of no small importance, which has prompted some observers to wonder what was the reason why the founder of Tesla has no role, at least at the moment.
What is the Bitcoin Mining Council
Il Bitcoin Mining Council is a kind of association among Bitcoin miners located in the North America. In practice, it was conceived as a first response to the many criticisms received from various quarters against the environmental danger exhibited by the cryptographic icon. Proven according to the detractors by the data, but refuted by some recent studies. Which have tried to highlight how much more energy-intensive financial activities exist.
These theses, however, do not seem to have received great acclaim from governments. Starting with that Chinese, who would be carefully considering the problem, in light of the fact that the Bitcoin mining would seriously jeopardize the plans aimed at reducing harmful emissions within the national territory.
Is the ouster of Elon Musk connected to the recent Anonymous threats?
Failure to assign positions to Elon Musk naturally prompted observers to wonder why. Some identified the need to respond to the recent message of Anonymous against the South African billionaire.
Which not only heavily attacked the founder of Tesla for the issue related to child exploitation in lithium mines, that is the material that feeds the electric cars produced by his company. But he also floated the hypothesis that the real reason that prompted him to promote this initiative is not to be found in the desire to make mining more sustainable, but rather to take control of it. A very heavy accusation in fact and to which Musk's ouster from any position within the association seems in some way an answer.
What can the Bitcoin Mining Council do?
Once again, therefore, the figure of Elon Musk seems destined to act as a catalyst and to attract controversy over an initiative that would also have a positive meaning. Precisely the alarms that have arrived from various quarters on the environmental danger of mining, in fact, are now at the center of an increasingly strong discussion within public opinion. And they are also pushing governments to question what could happen by leaving the field free to cryptocurrencies.
Precisely to try to soften the tone of the discussion, the cryptographic space has in turn begun to question how to make mining not only less energy-intensive, but also to dilute its danger. For example promoting the use of renewable energy sources instead of fossil ones. Or by focusing more and more on that consensus algorithm Proof-of-Stake which is less demanding in this sense than the Proof-of Work. All that remains is to follow the evolution of the debate to understand what could happen now.