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When speaking to Bloomberg TV earlier today, partner at Castle Island Ventures Nic Carter shared he doubts that Elon Musk is the right candidate to “lead the charge for Bitcoin to become more green” and this is not only his take on this issue.
“Elon Musk is the wrong person but his proposal is good”
Nic Carter has explained why he does not believe Tesla CEO to be the right person for leading the movement to make the Bitcoin mining industry a more green one.

He referred to the Bitcoin community, who are mostly still skeptical of Musk, as Carter pointed out, partly due to the fact that he is involved in selling carbon offsets.

However, Carter said that the proposal made to Bitcoin miners about being more transparent in the future about their energy mix is good, whether it comes from Elon Musk or would have come from somebody else.

Musk’s proposal to US-based Bitcoin miners
On May 23, Michael Saylor (head of MicroStrategy business software giant) helped Elon Musk to make a conference with top executives of major US-based mining companies.

They agreed to form the Bitcoin Mining Council and miners agreed to be more transparent on the fossil-fuel energy they use and on the renewable energy they strive to utilize. They also promised to gradually shift to a 100 percent usage of green energy and persuade miners all over the world to follow their suit.

Musk called it “potentially promising” in his recent tweet. On that news, Bitcoin price managed to briefly recover above the $40,000 level earlier today.

Musk admits that he is not “DogeFather” after all
Responding to a tweet earlier today, in which Musk was highly praised for treating Dogecoin like one of his own companies, Tesla CEO reminded the prominent DOGE account holder that he does not control the project.

Musk tweeted that DOGE has no formal organization and even so, Doge devs do not report to him. So, he emphasized, his ability to impact on anything to do with Dogecoin is limited.

Apart from the coin’s price it seems. The coin’s exchange rate has seen several major rises this year following Elon Musk tweeting about it.

Some Wall Street experts have previously stated that the eccentric billionaire can easily manipulate not only the DOGE market but “stonks” as well, when he mentions certain companies in his tweets to let the prices soar – as it was with GameStop and a few others this year.

sorce

Earlier in April, an accident at a Chinese coal mine in Xinjiang sent Bitcoin network’s hash rate plummeting 30% in a span of a day, which crippled the major cryptocurrency’s rally.

Now, Bitcoin’s hash rate is suffering a similar loss as miners based in Sichuan, China face limitations on power usage.

The State Grid in Sichuan’s Aba county — which encompasses a significant portion of the region’s hydropower — issued a notice earlier this week that required local enterprises and households to limit their power consumption as the province was met with a surging utility demand.

The notice was specifically aimed at all operations located in the region’s “Hydro-electricity Consumption Industrial Demonstration Zone.”

These zones were created by the government as a form of incentive for “power-intensive industries” to utilise cheap hydroelectricity during summer months. Many of the Bitcoin mining facilities were allegedly operating in these government-sanctioned industrial zones.

Sorce