Nic Carter of Castle Island Ventures believes Elon Musk isn’t the proper person to lead the “clean Bitcoin” discussion, at least not in the eyes of the Bitcoin community.
“Bitcoiners are still intensely skeptical of Musk, and they view him as conflicted, given that his business partially involves the sale of offsets.” he talked to Bloomberg.
Nevertheless, Carter highlighted that encouraging Bitcoin miners to be more transparent about their power mix 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 synthetic currency that is highly resistant to control. If one country bans Bitcoin, the hash strength will just transfer to another country. Even if particular governments restrict it, there will be no lack of favorable locations.
Rather than outlawing Bitcoin because of its high energy usage, Carter proposes that regulators develop greener Bitcoin mining infrastructure.
Bitcoin miners in North America are greener than many other industrial power users. According to Carter, that’s why the concept of miners being more upfront about the type of energy they use will be vindicated.
Carter really doesn’t seem persuaded by the notion that Bitcoin is utilized for money laundering. Any monetary system will always be exploited for criminal objectives, he said, stressing that the US dollar is used for illegal reasons considerably more frequently than Bitcoin.
As per Carter, connecting Bitcoin with criminal activity is a strange approach, “since we didn’t ban the U.S. dollar because Pablo Escobar had heaps of dollars in his basement.”
After a meeting between Musk and major Bitcoin miners in North America arranged by MicroStrategy CEO Michael Saylor, the Bitcoin Mining Council was formed. According to Saylor, the council’s main purpose is to encourage transparent energy consumption and expedite global environmental activities.