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Elon Musk Gains Skepticism from Bitcoin Community 

Nic Carter, general partner at Castle Island Ventures, recently told Bloomberg that “Bitcoiners are still intensely skeptical of Musk, and they view him as conflicted given that his business partially involves the sale of offsets.”

Carter — who has gained a reputation for writing everything clean Bitcoin-related — was asked if he thinks that Elon is qualified to become the vanguard of clean Bitcoin, to which Carter replies “possibly not as far as the Bitcoin community is concerned.”

Carter added that, despite Elon’s not-so-favorable reputation among the Bitcoiners, Elon’s proposal for Bitcoin miners to be more transparent about their energy mix is always good one — an allusion to the Bitcoin Mining Council.

The Bitcoin Mining Council was recently formed after the meeting between Elon and the top Bitcoin miners in North America brokered by Michael Saylor, the CEO of MicroStrategy. According to Saylor, the council primarily focuses on promoting transparent energy use and accelerating global sustainability initiatives.

In the same Bloomberg interview, Carter remarked that Bitcoin — being a decentralized digital asset — is highly resistant to regulation. Banning Bitcoin in one jurisdiction would only cause the hash power to flow to a new jurisdiction.

Carter suggested that legislators should create greener grids for Bitcoin mining, instead of banning Bitcoin for its energy consumption.

In regards to Bitcoin being associated with illicit activities, Carter stated that any monetary system will always be used for crime. He added that the US dollar is used for criminal activities more frequently than Bitcoin.

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SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

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