Nic Carter – Elon Musk is Not the Right Choice to Head Green Bitcoin Discussion May 27, 2021 May 27, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsMay 27, 2021 by Kelly Cromley

Nic Carter – Elon Musk is Not the Right Choice to Head Green Bitcoin Discussion

Nic Carter of Castle Island Ventures believes Elon Musk isn’t the proper man to lead the “clean Bitcoin” discussion, “at least not in the eyes of the Tech community.” “Bitcoiners are still quite distrustful of Musk, and they see him as biased, considering that his company includes the sale of offsets,” he told Bloomberg.

Nevertheless, Carter highlighted that encouraging Bitcoin miners to become more honest about their energy supply is a worthy suggestion regardless of who makes it, pointing to the newly created Bitcoin Mining Council. He said that Bitcoin (BTC) is a decentralized fabricated asset that is virtually immune to control.

Bitcoin (BTC) is a decentralized synthetic asset, according to him, that is essentially impervious to control. If one country bans Bitcoin, the hash power will just transfer to another country. Even if particular governments restrict it, there would be no paucity of favorable jurisdictions.

Rather than outlawing Bitcoin because of its high energy usage, Carter proposes that regulators develop cleaner Bitcoin mining infrastructure. Bitcoin miners in North America are greener than several other industrial power users. This, according to Carter, is also why the concept of miners becoming more upfront about the source of power they use will be vindicated.

Carter doesn’t even seem persuaded by the notion that Bitcoin is utilized for laundering money. Any financial system will always be exploited for criminal objectives, he said, stressing that the US dollar is being used for illegal reasons considerably more frequently than Bitcoin. “We didn’t prohibit the U.S. money though Pablo Escobar had tons of dollars in his basement,” Carter points out, “because we didn’t outlaw the U.S. money because Pablo Escobar had heaps of cash in his basement.”

Following discussions between Musk and major Bitcoin miners in North America arranged by MicroStrategy CEO Michael Saylor, the Bitcoin Mining Council was formed.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.