Michael Saylor Defends Elon Musk Over Bitcoin Mining Board and Centralization Criticism
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Answer Michael Saylor Defends Elon Musk Over Bitcoin Mining Board and Centralization Criticism
At the CoinDesk conference yesterday, Bitcoin enthusiast Michael Saylor and CEO of MicroStrategy defended the newly formed Bitcoin Mining Board against criticism that it goes against the “decentralized” spirit of Bitcoin.
Saylor announced the board yesterday afternoon, after chirp Tesla CEO Elon Musk on his meeting with North American Bitcoin miners about sustainability.
Saylor described the board as an organization to standardize energy reporting, pursue ESG industrial mining goals, and educate and grow the market.
ESG is an investment strategy centered around environmental, social and governance concerns, which stands for corporate sustainability.
Critics were quick to attack Saylor and his followers, and how they could say that Bitcoin is about “decentralization,” that is, there is no central governing body, while they market to the central board.
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The formation of a cartel of miners in the United States is bidding Tweet embed And Michael Saylor is the next stage of decentralization?
– (((Frances ‘Cassandra’ Coppola)) 🌷🌷🌷 (Frances_Coppola) May 25, 2021
Musk himself has criticized bitcoin for being too centralized, citing an incident in which a single incident in a Chinese coal mine destroyed about 30% of the total computing power behind the global bitcoin network.
Saylor, who personally invested hundreds of millions of dollars in bitcoin, didn’t really address these concerns other than to say that everyone in that meeting, including Musk, believed in a passion for decentralization.
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He added that he hopes to wrest control of the bitcoin narrative from uninformed parties who do not necessarily agree with his view on bitcoin and the environment.
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