{"id":3814,"date":"2021-05-27T07:24:46","date_gmt":"2021-05-27T06:24:46","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=3814"},"modified":"2021-05-27T07:24:52","modified_gmt":"2021-05-27T06:24:52","slug":"michael-saylor-denies-collusion-theories-about-the-bitcoin-mining-council","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/michael-saylor-denies-collusion-theories-about-the-bitcoin-mining-council\/","title":{"rendered":"Michael Saylor denies collusion theories about the \u2018Bitcoin Mining Council\u2019"},"content":{"rendered":"\n
In a video interview this week, MicroStrategy CEO\u00a0Michael Saylor\u00a0denies accusations of clandestine motives behind the newly formed Bitcoin<\/a> Mining Council (BMC). The BMC comprises some of the biggest U.S. miners led by Saylor and Elon Musk.<\/h5>\n\n\n\n
\"Michael<\/figure>\n\n\n\n

The organization came about following Musk\u2019s apparent U-turn on Bitcoin, in which he raised concerns over the alleged overuse of coal in powering mining rigs. The BMC was formed to combat this problem.<\/p>\n\n\n\n

\u201cThe miners have agreed to form the Bitcoin Mining Council\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> to promote energy usage transparency & accelerate sustainability initiatives worldwide,\u201d he stated.<\/p>\n\n\n\n

But some sections of the crypto community have slammed the BMC, calling it a trojan horse and centralized power grab.<\/p>\n\n\n\n

Bitcoin Mining Council feels the heat<\/h2>\n\n\n\n

The BMC was set up as a response to addressing the long-term sustainability of Bitcoin mining worldwide.<\/p>\n\n\n\n

Bitcoin mining attracts negative press on the grounds of excessive energy use. Cambridge University estimates the network consumes more energy annually than the Netherlands.<\/p>\n\n\n\n

More recently, Tesla CEO Elon Musk made allegations that most miners use coal, which he called the most polluting of all the fossil fuels. This is a point debunked by Anthony Pompliano, who claims 3\/4 of miners use renewable sources.<\/p>\n\n\n\n

\u201cElon \u2026 you realize that 75% of miners use renewable energy, right? This energy story has been debunked over and over again.\u201c<\/p><\/blockquote>\n\n\n\n

Earlier this week,\u00a0Saylor and Musk\u00a0announced on Twitter they had held a meeting with executives of prominent mining firms, including Argo Blockchain, Galaxy Digital, Marathon Digital Holdings, and others.<\/p>\n\n\n\n

Saylor, later said the purpose of the meeting was to ensure the success of Bitcoin by improving sustainability. But Marty Bent, the Co-founder of Great American Mining, said:<\/p>\n\n\n\n

\u201cThis move has absolutely nothing to do with green energy or climate. It has everything to do with CONTROL.\u201d<\/p><\/blockquote>\n\n\n\n

Saylor responds to the critics<\/h2>\n\n\n\n

Reacting to feedback on the BMC meeting, Saylor dismissed any talk it was a shady secret meeting with hidden agendas.<\/p>\n\n\n\n

\u201cIf it\u2019s a secret meeting I wouldn\u2019t have told millions of people the next day that there was a secret meeting, trust me,\u201d he stated.<\/p>\n\n\n\n

To dispel this idea further, Saylor explained what went on in the meeting, saying it was simply a discussion on managing the negative public perception of Bitcoin mining. He added that Musk recommended better data to address the mainstream concerns.<\/p>\n\n\n\n

\u201cWhat happened in the meeting, is, is, Elon met the miners. The miners talked about their approach towards energy and their commitment to sustainability. We asked Elon for his advice about how we might actually manage concerns in the mainstream,\u201d Saylor said.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a video interview this week, MicroStrategy CEO\u00a0Michael Saylor\u00a0denies accusations of clandestine motives behind the newly formed Bitcoin Mining Council (BMC). The BMC comprises some of the biggest U.S. miners led by Saylor and Elon Musk. The organization came about following Musk\u2019s apparent U-turn on Bitcoin, in which he raised concerns over the alleged overuse […]<\/p>\n","protected":false},"author":63,"featured_media":3815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,21],"tags":[152,370,415],"class_list":["post-3814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-news","tag-bitcoin","tag-mining","tag-saylor"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/microstrategy-ceo-bitcoin-featured-socialcrop.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=3814"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3814\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/3815"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=3814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=3814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=3814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}