{"id":259150,"date":"2021-05-26T09:00:16","date_gmt":"2021-05-26T06:00:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/michael-saylor-says-bitcoin-mining-council-required-to-combat-hostile-narrative\/"},"modified":"2021-05-26T09:00:16","modified_gmt":"2021-05-26T06:00:16","slug":"michael-saylor-says-bitcoin-mining-council-required-to-combat-hostile-narrative","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/michael-saylor-says-bitcoin-mining-council-required-to-combat-hostile-narrative\/","title":{"rendered":"# Michael Saylor says Bitcoin Mining Council required to combat \u2018hostile\u2019 narrative"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2fa20cc8dd7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2fa20cc8dd7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/michael-saylor-says-bitcoin-mining-council-required-to-combat-hostile-narrative\/#Elon_Musks_involvement\" >Elon Musk&#8217;s involvement<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Michael Saylor says Bitcoin Mining Council required to combat \u2018hostile\u2019 narrative <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMjA2MWJmOGUtMGYxMy00MzdkLTlmZTYtOGRlMjkzODdkZDViLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>MicroStrategy CEO, Michael Saylor has explained the details and thinking behind the formation of the Bitcoin Mining Council.<\/p>\n<p>The council was formed on May 25 after Saylor brokered a successful meeting between Elon Musk and several top North American Bitcoin mining firms. The miners involved will provide current and planned renewable usage  transparency, and will lobby other mining operations across the globe to do so as well<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Michael Saylor describing the formation of the Bitcoin Mining Council and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk?ref_src=twsrc%5Etfw\">@ElonMusk<\/a>&#8216;s shared interest in seeing <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> succeed: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/7MfODadi8p\">pic.twitter.com\/7MfODadi8p<\/a><\/p>\n<p>\u2014 Documenting Bitcoin  (@DocumentingBTC) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DocumentingBTC\/status\/1397292185024925696?ref_src=twsrc%5Etfw\">May 25, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Speaking at the virtual Consensus 2021 conference, Saylor emphasized that the council was formed out of the need to provide greater transparency on the Bitcoin mining industry, and promote sustainable initiatives moving forward: <\/p>\n<p>\u201cThe only reason we had the meeting is because we wanted to ensure the success of a decentralized cryptocurrency, and the source of decentralization is energy usage,\u201d Saylor said.<\/p>\n<blockquote><p>\u201cIt turns out that Bitcoin miners don&#8217;t actually have a good forum for communicating how they generate their energy. We don&#8217;t have a standard model for Bitcoin energy usage right now, and we don&#8217;t have a future forecast model that we commonly use.\u201d<\/p><\/blockquote>\n<p>However the Bitcoin Mining Council has proven controversial in some quarters with comparisons to the oil production cartel OPEC. Podcaster Marty Bent, the co-founder of Great American Mining, which <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/gam.ai\/our-mission.html\">utilizes<\/a> wasted gas from energy plants to power its Bitcoin mining operations \u2014 drew comparisons to the controversial Bitcoin scaling plans emerging out of the 2017 New York Agreement, in his May 24 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter:<\/p>\n<blockquote><p>\u201cDo they not recall the last time there was a closed door meeting that involved stakeholders who attempted to speak on behalf of an entire industry?\u201d<\/p><\/blockquote>\n<p>But Saylor was quick to rebuff notions there was anything clandestine or non-transparent about the meeting. \u201cIf it was a secret meeting, I wouldn&#8217;t have told millions of people the  next day that it was a secret meeting. Trust me, you know, we told everybody in the world that we had a meeting,\u201d he said. <\/p>\n<p>He emphasizing the need to fight back against a hostile anti-cryto narrative portrayed by some institutions and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> outlets:<\/p>\n<blockquote><p>\u201cWe need to make sure the people that are hostile to Bitcoin and hostile to the crypto industry aren&#8217;t defining those narratives and defining those models and defining those metrics. In the absence of any good information or any response on our part, they will define those models.\u201d<\/p><\/blockquote>\n<p>The council is made up of North American miners, including Argos Blockchain, Blockcap, Galaxy Digital, Hive Blockchain, Hut 8 Mining, Marathon Digital, and Riot Blockchain.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Elon_Musks_involvement\"><\/span>Elon Musk&#8217;s involvement<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Saylor revealed that after a \u201cvery long conversation\u201d with Elon Musk, the MicroStrategy CEO reached out to the Bitcoin mining firms and asked if they\u2019d like to meet the entrepreneur. During the &#8220;constructive&#8221; meeting, the other attendees reportedly asked Musk for advice on how to combat the growing carbon anxiety surrounding Bitcoin:<\/p>\n<blockquote><p>\u201cWe asked Elon for his advice about how we might actually manage concerns in the mainstream. We had a detailed conversation about it. We talked about how we might be able to surface better data. \u201c<\/p><\/blockquote>\n<p>Musk\u2019s reported \u201cfirst-order ask\u201d was \u201ccan we come up with a way to publish or create transparency for Bitcoin mining energy usage?\u201d and Saylor echoed this sentiment when he stated:<\/p>\n<blockquote><p>\u201cI think the first step is, let\u2019s come up with a protocol for us to publish energy information in a way that we can share it with the world and then work together to make sure that we pursue sustainable energy goals.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/michael-saylor-says-bitcoin-mining-council-required-to-combat-hostile-narrative\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Michael Saylor says Bitcoin Mining Council required to combat \u2018hostile\u2019 narrative &#8221; MicroStrategy CEO, Michael Saylor has explained the details and thinking behind the formation of the Bitcoin Mining Council. The council was formed on May 25 after Saylor brokered a successful meeting between Elon Musk and several top North American Bitcoin mining firms&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":259151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMjA2MWJmOGUtMGYxMy00MzdkLTlmZTYtOGRlMjkzODdkZDViLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74989,74872,117,39394,76751,36402],"class_list":["post-259150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-mining","tag-green-technology","tag-business","tag-elon-musk","tag-sustainability","tag-tesla"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/259150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=259150"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/259150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/259151"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=259150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=259150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=259150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}