Skip to content
DefiDraft

DefiDraft

Empowering the Future of Finance: Stay Ahead with our DeFi News

Categories

  • AI
  • Altcoin
  • Bitcoin
  • Blockchain
  • Blogs
  • CHARTS
  • Crypto
  • DeFi News
  • Defipedia
  • Ehtereum
  • Guest Post
  • Metaverse
  • Mining
  • News
  • NFT
  • Press Release
  • Review
  • Sponsored Post
  • Trading
  • Wallets
  • Web3
  • DeFi News
  • Defipedia
  • Review
  • Advertise
  • Home
  • Blockchain
  • New Bitcoin Mining Council Formed to Fight “Energy FUD”
  • Blockchain

New Bitcoin Mining Council Formed to Fight “Energy FUD”

Jack Paul June 8, 2021 2 min read

Bitcoin cabal

A great Bitcoin meeting took place the other day that seems to have everyone talking. All the big boys were there.

Michael Saylor article

The obvious complaint that many on social media had about this was that we weren’t invited.

Bitcoin is an open protocol, where all interested parties have a say in any new direction it may take, so closed-door meetings don’t usually fly.

Some of you may recall the famous New York Agreement of 2017, where the bitcoin miners got together and agreed on a protocol change known as SegWit2x for scaling the network.

Well, that failed miserably, as the world learned that it isn’t the miners who control the code. It’s everyone.

From miners to wallet providers, to node operators and even everyday hodlers, we all have a stake, and we all get a say.

In general, what Saylor and the gang are proposing isn’t bad.

Bitcoin’s energy consumption, and in particular, the percentage of power coming from renewable energies, has been the source of a lot of FUD lately, so seeing mining companies volunteering to report publicly on this is a good thing, as long as they don’t try to force any changes to the protocol without first reaching broad consensus across the entire network.

As it seems, we’re very likely to see China’s hash rate dropping off, and that’s a good thing, since it’ll reduce claims from critics that Bitcoin mining is centralized and could potentially be controlled by the Jinping regime.

This is all good news, and we’re seeing it reflected now in the price, as we bounce off the stomach-wrenching lows.

Official Nonsense

A slew of Federal Reserve officials weighed in yesterday on inflation and where they think the economy is going.

Even though it flies in the face of what many economists seem to be forecasting, the Fed is unified in projecting that inflation will be transitory.

From what I gather, no real reasons have been given for why they think that inflation will pass us over and disappear quickly, but the bond markets do seem to be taking their rhetoric at face value.

This is a development that serves to reinforce their echo chamber and encourage them to continue with their ample economic stimulus. In short, the money printing continues.

Jack Paul

I’m a highly sought-after speaker and advisor, and have been featured in major media outlets such as CNBC, Bloomberg, and The Wall Street Journal. I am passionate about helping others to understand this complex and often misunderstood industry. I believe that cryptocurrencies have the potential to revolutionize the financial system and create new opportunities for everyone.

Post Views: 13

Continue Reading

Previous: Bitcoin Consolidates Near Recent Lows
Next: Barclays Cut Ties Cryptocurrency News | CryptScout.com

Latest Post

Recent Posts

  • Maker DAO May Increase DAI Interest Rate to 3.33%
  • Putin Visions Decentralization as the Key to a More Resilient Global Economy
  • Shiba Inu Insider Reveals Anticipated Launch Date for Shibarium Mainnet
  • Voltz Transforms DeFi Landscape with New Interest Rate Swap Feature
  • Mantle Network and BitDAO Join Forces to Enhance Ethereum Layer 2 Solutions

Ecosystem

Maker DAO May Increase DAI Interest Rate to 3.33% Maker DAO May Hike Interest Rates
2 min read
  • DeFi News
  • News

Maker DAO May Increase DAI Interest Rate to 3.33%

May 27, 2023
Putin Visions Decentralization as the Key to a More Resilient Global Economy Putin Visions Decentralization as the Key to a More Resilient Global Economy
2 min read
  • Crypto
  • News

Putin Visions Decentralization as the Key to a More Resilient Global Economy

May 26, 2023
Shiba Inu Insider Reveals Anticipated Launch Date for Shibarium Mainnet Shiba Inu Insider Reveals Anticipated Launch Date for Shibarium Mainnet
2 min read
  • Altcoin
  • Crypto
  • News

Shiba Inu Insider Reveals Anticipated Launch Date for Shibarium Mainnet

May 25, 2023
Voltz Transforms DeFi Landscape with New Interest Rate Swap Feature Voltz Transforms DeFi Landscape with New Interest Rate Swap Feature
2 min read
  • DeFi News
  • News

Voltz Transforms DeFi Landscape with New Interest Rate Swap Feature

May 25, 2023

About

Defidraft is the ultimate source for the latest news and analysis on the world of decentralized finance.

Connect with Us

  • Twitter
  • Instagram
  • Facebook
  • LinkedIn
  • Telegram

Recent Posts

  • Maker DAO May Increase DAI Interest Rate to 3.33%
  • Putin Visions Decentralization as the Key to a More Resilient Global Economy
  • Shiba Inu Insider Reveals Anticipated Launch Date for Shibarium Mainnet
  • Voltz Transforms DeFi Landscape with New Interest Rate Swap Feature

TAGS

Binance blockchain Cardano Crypto cryptocurrency Decentralization decentralized finance deFi DeFi Hack DeFi news DeFi Protocols ethereum future of DeFi Hack Polygon protocol security technology TVL US

  • News
  • Press Release
  • Sponsored Post
  • Our Partners
  • Contact Us
Copyright © DefiDraft | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$27,594.002.95%
  • ethereumEthereum(ETH)$1,850.801.25%
  • tetherTether(USDT)$1.00-0.05%
  • binancecoinBNB(BNB)$309.431.45%
  • usd-coinUSD Coin(USDC)$1.00-0.07%
  • rippleXRP(XRP)$0.4779351.21%
  • cardanoCardano(ADA)$0.3784403.77%
  • dogecoinDogecoin(DOGE)$0.0730171.94%
  • matic-networkPolygon(MATIC)$0.931.02%
  • solanaSolana(SOL)$20.805.92%
  • polkadotPolkadot(DOT)$5.432.15%
  • litecoinLitecoin(LTC)$89.921.97%
  • binance-usdBinance USD(BUSD)$1.00-0.05%
  • shiba-inuShiba Inu(SHIB)$0.0000092.39%
  • avalanche-2Avalanche(AVAX)$14.641.65%
  • crypto-com-chainCronos(CRO)$0.0605960.82%
  • terra-lunaTerra Luna Classic(LUNC)$0.0000880.87%