Bitcoin Mining Council - page 2. | Bitcointalksearch.org

Welsh

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Quote from: ranochigo on May 26, 2021, 08:18:46 AM

First of all, Bitcoin should not be influenced by an external party. Users should be able to choose what kind of Bitcoin that they want without having something else forced down their throats.

Bitcoin probably won't accept anything else other than PoW, the community won't take it neither will majority of the other miners. If you're talking about renewable energy, sure! Most miners can already switch to them if the tariffs are cheaper. There should never be anything that governs the miners; it basically does nothing as there is no repercussions from breaking any rules and there is a risk of centralization as well. Forming an organization like this can threaten and restrict how the miners operates, which is not great.

Like it or not, this is just Elon Musk trying to save his investments and avoid a bad financial report.

I don't see Bitcoin being influenced by external parties here. Well, not too much. We should be adapting, and trying to fit within the world for our own benefit though, and while I guess there was influence on this happening, its probably for the better.

If we can prove that miners are using green energy instead of fossil fuels, it means that's one less attack vector that the news, and governments can use against us. We would actually be better than most industries that people use on the daily.

I'm all for improvement, regardless of the influencing factors.

Taskford

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Quote from: xenon131 on May 25, 2021, 03:54:31 AM

Leading North American mining companies (such as ArgoBlockchain, Galaxy Digital, HiveBlockchain etc..) will form a ^{Bitcoin Mining Council}, the aim being to reduce the industry's greenhouse gas emissions. Such initiative was announced after their weekend meeting with Elon Musk.

Should this Council be considered as Musk's attempt to rehabilitate himself in the eyes of the community or he really wants to help?

Do you think musk really mean that since if there's no group created for this plans I will think about he is just hyping bitcoin back since he already bought bitcoin at tge dip and want to earn again for repetitive doings. Maybe best to buy on what he is doing now to gain since market is now doing great after good hypes spread.

hitsnorth

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He's doing what he wants and thinks right, I can't deny it. So i bet he really believes in what he's doing.

zasad@

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https://cbeci.org/
Bitcoin network power(updated every 24 hours)

https://cbeci.org/cbeci/comparisons
Bitcoin mining has already ranked 33rd in the ranking of electricity consumption by countries
In the future, we will face these questions more than once, because electricity is becoming more expensive every year.

ranochigo

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Activity: 2954

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First of all, Bitcoin should not be influenced by an external party. Users should be able to choose what kind of Bitcoin that they want without having something else forced down their throats.

Bitcoin probably won't accept anything else other than PoW, the community won't take it neither will majority of the other miners. If you're talking about renewable energy, sure! Most miners can already switch to them if the tariffs are cheaper. There should never be anything that governs the miners; it basically does nothing as there is no repercussions from breaking any rules and there is a risk of centralization as well. Forming an organization like this can threaten and restrict how the miners operates, which is not great.

Like it or not, this is just Elon Musk trying to save his investments and avoid a bad financial report.

okae

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northern exposure

Well, don't be wrong with me, reduce the industry's greenhouse gas emissions is always a good idea, but (for me at least) this is just a Elon Musk movement trying to do things to "fatten up his wallet" even more than it is. .. greedy as hell, rich people should care more about other things and dont wasted his time on tweets and stupids things like that, if they do it is because they are trying to do other things ...

Quote from: Henrobakkara on May 25, 2021, 04:40:43 AM

Funny that Elon is having so much power in cryptocurrency now and after causing FUD in the space and dragging the market down now trying to create an atmosphere that makes him looks like he truly cares about Bitcoin by involving in this move again trying to portray concern for Bitcoin. This guy is actually a snake.

Agree, as i say, all the things he is doing is because he have "hidden intentions ..."

Lorence.xD

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Quote from: Obito on May 25, 2021, 05:42:03 AM

No matter how much council we make if we continue using fossil fuel as a source for electricity, the efforts of mining council will be in vain to be honest. The world will still pollute the air with other pollutants and we can't do a thing about it, this mining isn't a green thing to do is just a good scapegoat for other power companies to continue using coal powered electricity.

Right, if we still have coals and a lot of pollutants as a main source of energy, this council won't do a dent. What we really need is for the government to take action in the fossil fuel crisis that will eventually cause the doom of our civilization if we continue to use it as an energy source. Also if we don't innovate on nuclear and renewable energy, we will not be able to fully transition from polluting energy towards clean energy.

dkbit98

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Cashback 15%

I don't see anything wrong in having some kind of Bitcoin mining council unless they accept some freaking ofac regulated mining pools like Marathon, who is preparing to start mining in Texas with 73,000 new bitcoin miners!
They are talking same bullshit about carbon neutrality but accepting them in some council or following their example can seriously change how Bitcoin space will look in the future.
Marathon partnered with Compute North for this deal and they claim they will have 10.37 EH/s hashrate that would make them one of the biggest pool in the world (Chinese Antpool currently have around 24 EH/s hashrate).
We can also imagine the future with lower percentage of mining pools from China and higher from North American pools that would take Marathon even higher, and that can be very dangerous.
https://ir.marathondh.com/news-events/press-releases/detail/1243/correction----marathon-digital-holdings-announces-binding

Yogee

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Quote from: KaliLinux on May 25, 2021, 04:26:46 AM

...
So does this mean that what Elon was accusing the Bitcoin miners of earlier was also correct for them to be having this sit down? because to me if it wasn't, why wouldn't they just tell him off?

Business interest above all. There are miners who are already using green energy before Elon came into the picture but perhaps they also saw an opportunity that would benefit all parties. Miners could save up from electricity cost while both Michael and Elon can protect their investments completely eradicating the long standing issue against BTC mining.

crwth

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Starting this council is excellent, knowing that there would be people governing and making sure that there is accurate data being published in the energy consumption of Bitcoin Mining. I think it's best that there would be a center for everything to verify those data since most of the data are scrambled and doesn't make sense because it's not the same for everything.

It would be like making their own Bitcoin Mining standardization and make it even more efficient and understandable between different places. Every mining company should have a representative of their own so that everything is in the proper form.

This can be the step towards energy efficiency and utterly renewable energy transformation for the energy-hungry mining farms.

Obito

sr. member

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No matter how much council we make if we continue using fossil fuel as a source for electricity, the efforts of mining council will be in vain to be honest. The world will still pollute the air with other pollutants and we can't do a thing about it, this mining isn't a green thing to do is just a good scapegoat for other power companies to continue using coal powered electricity.

Henrobakkara

full member

Activity: 1512

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Funny that Elon is having so much power in cryptocurrency now and after causing FUD in the space and dragging the market down now trying to create an atmosphere that makes him looks like he truly cares about Bitcoin by involving in this move again trying to portray concern for Bitcoin. This guy is actually a snake.

KaliLinux

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Activity: 1344

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Quote from: xenon131 on May 25, 2021, 03:54:31 AM

Leading North American mining companies (such as ArgoBlockchain, Galaxy Digital, HiveBlockchain etc..) will form a ^{Bitcoin Mining Council}, the aim being to reduce the industry's greenhouse gas emissions. Such initiative was announced after their weekend meeting with Elon Musk.

Should this Council be considered as Musk's attempt to rehabilitate himself in the eyes of the community or he really wants to help?

So does this mean that what Elon was accusing the Bitcoin miners of earlier was also correct for them to be having this sit down? because to me if it wasn't, why wouldn't they just tell him off? Not that I even trust Elon and any of these big guys in the Bitcoin space, I would support @NeuroticFish here about Elon

Quote from: NeuroticFish on May 25, 2021, 04:00:55 AM

Quote from: xenon131 on May 25, 2021, 03:54:31 AM

or he really wants to help?

trying to sell "clean" electricity to the miners or some batteries his company produces, i.e. he just does marketing for his own products.

virtualdn

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Quote from: xenon131 on May 25, 2021, 03:54:31 AM

Leading North American mining companies (such as ArgoBlockchain, Galaxy Digital, HiveBlockchain etc..) will form a ^{Bitcoin Mining Council}, the aim being to reduce the industry's greenhouse gas emissions. Such initiative was announced after their weekend meeting with Elon Musk.

Should this Council be considered as Musk's attempt to rehabilitate himself in the eyes of the community or he really wants to help?

Once a snake always a snake. I'd be cautious. But as I said in another thread I'm no longer interested in what Musk or Saylor say so I don't care at all

They can do whatever they want.

NeuroticFish

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Quote from: xenon131 on May 25, 2021, 03:54:31 AM

or he really wants to help?

Unless he offers some grants, zero-interest loans or such, I find it a cheap PR and not much else.
Or... it has just occurred to me... he may try to sell "clean" electricity to the miners or some batteries his company produces, i.e. he just does marketing for his own products.

xenon131

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L

Topic: Bitcoin Mining Council - page 2. (Read 264 times)