Quote from: NotFuzzyWarm on Today at 01:10:44 PM

Thoughts? Oh, for a start, how about providing a link to what you are talking about?
Beyond that, a 'council' implies a centralized operating body and that is not going to happen with BTC as it goes against it's guiding principal.

I'm assuming OP is talking about this: https://bitcoinminingcouncil.com/. I've seen quite a few sites mentioning this link.

Quote from: avikz on Today at 02:33:51 PM

Having a council is not a good idea at all. But again even if a council is formed, they wouldn't have any legal rights to control the mining activities around the world. Does anyone know who proposed such idea?

Michael Saylor was a proponent of this, and I believe he is involved in this as well. Most of the miners won't want to be regulated in any sense and would probably not join the council, save for the few current members.

Quote from: NotFuzzyWarm on Today at 01:10:44 PM

I am sure whoever proposed it, is trying to claim the ownership over the algorithm. It will give rise to fork events and loot away hash powers. Decentralization will be gone.

That is not how it works nor would it be realistic.