The Bitcoin Mining Council, originally created by influential CEOs Michael Saylor and Elon Musk, has officially debuted and is looking for members.
The Bitcoin Mining Council (BMC), a group of bitcoin miners from around the world, has been officially launched and is now open for membership applications. The council’s website is live and shares details about its tenure, what it will do and the roles influential CEOs Elon Musk and Michael Saylor should play.
“The Bitcoin Mining Council is a voluntary and open forum of Bitcoin miners committed to the network and its fundamentals,” according to the BMC website. “We promote transparency, share best practices and educate the public on the benefits of Bitcoin and Bitcoin mining. “
Although the BMC was first created in a closed-door meeting, it would have evolved into a more open setting. According to the council’s website, any bitcoin miner can join, as long as they agree to share their energy mix and the size of their hash rate for “research and education purposes.” In addition, board members should promote the core principles and principles of Bitcoin – “that it is a decentralized, peer-to-peer, censorship-resistant, and open-source protocol.”
The website also claims that Tesla CEO Elon Musk, who attended the group’s first meeting, “has no role at BMC.” But CEO of software intelligence firm MicroStrategy Michael Saylor, who called the first meeting, is a “key BMC member, both as a facilitator and supporter of Bitcoin.”
The Bitcoin Mining Council, which was initially a closed group, received skeptical reactions from many members of the Bitcoin community who believed the council could take an aggressive stance on Bitcoin’s energy consumption, fueled by the recent Musk concerns. But the group may have realized that Bitcoin’s carbon emissions are only a percentage of that of many other industries because, according to its website, it “now considers Bitcoin’s energy consumption to be a characteristic,” not a bug “.
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