I think we are good going forward, for the boyz reached some sort of powwow-ed truth of a sort, am guessing, so it seems to appear
Now let us see what China does if anything w/r to BTC. I am thinking, “what is the big deal about cessation of China BTC mining?”
18+M of 21M already mined. Just like the gold mines, shutting them down is okay, and perhaps desirable for Hodl-ers. The BTC community can migrate to a transaction model, now, ahead of Satoshi-intended schedule, or / and maybe force Satoshi to release his hoard of 1M BTCs slowly, to replace the temporarily lost mining output.
As long as China does not outlaw BTC ownership, China merely voluntarily give up a weapon, unless of course eCNY shall be linked to BTC that China no longer mines, until China again mines. Would do quite a bit of damage to newly invested mines elsewhere in the course of zig then zag.
Should China come out with some guidance that suggest no immediate moves against BTC mines or says nothing but just let the mines continue, we would know we have been misled by all the big boyz, and that they just wanted to accumulate at better prices.
Right now I have more ETH than BTC, to hedge my CSPR, and Au/ Pt should prove a hedge for crypto. Everything is a hedge for cash.
cointelegraph.com
Bitcoin Mining Council emerges following meeting with Michael Saylor and Elon Musk
The CEO of MicroStrategy brokered a successful meeting between Elon Musk and North American Bitcoin miners.
32 minutes ago
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North America’s Bitcoin ( BTC) mining industry appears to be moving towards greater environmental sustainability after MicroStrategy CEO Michael Saylor brokered a successful meeting between Elon Musk and several prominent business leaders.
Saylor and Musk both revealed Monday that the Bitcoin Mining Council has been established following the high-level talks. The Council is made up of several industry leaders, including Argos Blockchain, Blockcap, Galaxy Digital, Hive Blockchain, Hut 8 Mining, Marathon Digital and Riot Blockchain. They’ve all agreed to “promote energy usage transparency [and] accelerate sustainability initiatives worldwide,” Saylor tweetedMonday afternoon.
Saylor also indicated that the new industry group is committed to pursuing broad environmental, social and corporate governance goals concerning Bitcoin mining, as well as educating the marketplace about how the mining process works.
Musk, who was the ifrst to tweet about the discussions, said: “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.”
The Bitcoin price appears to have rallied sharply after the announcement circulated. BTC reached an intraday high of $39,960.00, building off earlier gains.
Tesla's decision to stop accepting Bitcoin payments due to environmental concerns may have contributed to one of Bitcoin's worst-ever declines. Peak to trough, the digital asset plunged 54%, eventually bottoming sub-$30,000 before recovering. In the process, Musk was subjected to severe backlash from the cryptocurrency community that he had recently just embraced.
Although misconceptions about the negative impact of Bitcoin mining on the environment are nothing new, headlines about a Chinese crackdown on crypto miners in light of environmental concerns have weighed on investor sentiment recently. As Cointelegraph recently reported, several Chinese Bitcoin miners are already winding down operations in the country and relocating to more desirable jurisdictions.
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