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Crypto Proponents Become Skeptical of Closed-Door Meeting Between Billionaires and Bitcoin Miners


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After Tesla’s Elon Musk and Microstrategy CEO Micheal Saylor revealed the revelation of a newly created “Bitcoin Mining Council,” the news became a viral subject. While some crypto supporters like the idea, others have been skeptical of a couple of billionaires having closed-door meetings with North American bitcoin miners.

Bitcoin Mining Council Brings Back Memories of Notorious Hong Kong and New York Agreements

On Monday, Elon Musk told his Twitter followers that he recently spoke with North American bitcoin miners, as he said they are “committed” to working toward using renewable energy sources.

Following Musk’s statement, Microstrategy’s CEO Micheal Saylor said he hosted the meeting between Musk and the “leading bitcoin miners in North America.” Saylor further revealed some of the mining participants that have joined the “Bitcoin Mining Council.”

According to Saylor’s tweet, miners such as Riot Blockchain, Core Scientific, Galaxy Digital, Hive Blockchain, Hut8, Marathon, Argo Blockchain, and Blockcap have joined the initiative. Despite some people’s optimistic opinions about the Bitcoin Mining Council, not everyone was positive about this announcement.

For a great number of crypto proponents, the closed-door meeting was looked at as shady and reminded them of the infamous Hong Kong and the New York Agreements. For instance, the Twitter account @altcoindailyio responded to Saylor’s tweet and said:

"We’ll call it the New York Agreement."

‘Closed-Door Meetings Do Not Typically Have Any Good Outcomes in Bitcoin’s History’

The Twitter account @documentingbtc also responded to Saylor’s announcement and said:

"Closed-door meetings do not typically have any good outcomes in Bitcoin’s history."

The Hong Kong and New York Agreements are very controversial times within the community. The Hong Kong Agreement took place on February 21, 2016, and was titled “Bitcoin Roundtable Consensus.” In that specific agreement, it said that the signatories agreed that the Bitcoin protocol would increase the block size to “2 MB, with the total size no more than 4 MB.”

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