Elon Musk has agreed to debate Jack Dorsey over Bitcoin adoption during the upcoming B Word conference. The B Word will launch on July 21 and the conference would be attended by the likes of Ark Invest CEO Cathie Wood, Block Stream CEO Adam Back, former deputy director of CIA Michael Morell, and few others.
The conference would be centered around bursting various myths propagated around Bitcoin by the mainstream media along with helping institutions understand how they can adopt the top cryptocurrency. There will be five broad discussion tracks,
- Demystifying Bitcoin
- Supporting the developer ecosystem
- Securing the Bitcoin network
- Regulating Bitcoin
- Preserving the Bitcoin ethos
Jack Dorsey along with Cathie Wood and Steve lee would moderate a live session on ‘Bitcoin as a tool for economic empowerment.’ Musk could be a part of the same discussion since Dorsey would be a moderator.
Done! Will set up 🙏🏼
— jack (@jack) June 25, 2021
The discussion between the two tech billionaires with quite a different take on Bitcoin could prove to be pivotal for the crypto industry.
Bitcoin’s Energy Consumption Could be a Potential Topic of Discussion
The upcoming event could see Dorsey and Musk discuss their take on Bitcoin’s mining consensus and environmental impact. Musk has publically ridiculed Proof-of-work(PoW) based Bitcoin mining that consumes a lot of energy and has hinted his support towards proof-of-stake(PoS). Dorsey on the contrary understands why PoW is key to Bitcoin’s decentralization and security despite high energy consumption. He has also said that PoS is comparatively centralized and less secure.
Musk has been accused of being a troll and knowingly propagating FUD about Bitcoin’s environmental concerns. Bitcoin community and Jack Dorsey himself beleive that the cryptocurrency has promoted the use of renewable energy sources and a significant portion of BTC mining is done using clean renewable energy Many users even shared data that suggests 40% of the Bitcoin network’s energy comes from a renewable source.
Irrespective of the topic of discussion it would be a significant event to gain insights into Musk’s recent turnaround on Bitcoin.