The Environmental Working Group and Greenpeace have launched a petition to pressure bitcoin to follow Ethereum and switch to a more climate friendly protocol.
Environmentalists demand a cleaner Bitcoin
The Change the Code, Not the Climate campaign, aimed at getting bitcoin to clean up its act, has now launched an advertising campaign worth around $1 million, that will intensify its efforts to oblige bitcoin users and developers to make the switch to the more environmentally friendly proof-of-stake consensus.
Along with this, Greenpeace has launched a petition to demand that Fidelity Investments use its influence to make bitcoin follow ethereum over to proof-of-stake, and away from the energy proof-of-work consensus.
Michael Brune, director of the Change the Code, Not the Climate campaign, gave his view in the Environmental Working Group press release on the subject:
“With fires raging around the world and historic floods destroying lives and livelihoods, state and federal leaders and corporate executives are racing to decarbonize as quickly as possible. Ethereum has shown it’s possible to switch to an energy-efficient protocol with far less climate, air and water pollution. Other cryptocurrency protocols have operated on efficient consensus mechanisms for years. Bitcoin has become the outlier, defiantly refusing to accept its climate responsibility,”
Ethereum now more centralised
Now that ethereum has switched to the proof-of-stake consensus mechanism it will certainly be a huge amount less energy intensive – around 99.5% less to be more precise.
However, what is the downside with this switch? From now on ethereum will be a lot less decentralised, given that wealthy players on the network can start to up their stake and therefore have a huge say in how ethereum develops into the future.
Bitcoin is unique
Bitcoin was developed to be the very opposite of this. The proof-of-work consensus mechanism is part of the very fabric of what Bitcoin is. It gives Bitcoin its super security, and provides decentralisation across the planet.
A Galaxy Digital report on Bitcoin energy consumption compared with the banking industry found that Bitcoin used a lot less than half the energy of the banking system.
Central bank manipulation
The fiat-based monetary system that has been in use for decades now is sucking the life out of those who hold fiat currencies. Central banks play god and print incredible amounts of currency, which has the effect of debasement and of severely decreasing the purchasing power of all those who use fiat currencies and who save them in the bank.
Bitcoin may be using a lot of energy right now, but it is on the path towards a goal of negligible use of energy and a green future.
However, that isn’t the main point. Even if Bitcoin did use a certain amount of energy, it would be absolutely worthwhile in order to give people a liferaft that they can use in order to protect their financial future.
Mainstream media has done its level best to besmirch Bitcoin in any way possible, and the environmental card is one of the very best it can play in the current situation.
The environmentalists have been conned
However, the likes of action groups like Greenpeace, who do such wonderful work across the world in bringing environmental issues into the public eye, should really do their research properly.
Greenpeace, the Environmental Working Group, and other organisations that are trying to save our planet must not be misdirected by those who are embedded in our corrupt monetary system and who would seek to bring Bitcoin down any way they can.
This code can’t be manipulated
Understanding Bitcoin is a long process and has taken many experts much time and study before they were able to see the absolute necessity of such an asset.
The Bitcoin code is a thing of beauty. It does not respond to any criticisms or praise. It just keeps on producing block after block, just as it was programmed to do. No governments or federal agencies have any say in it. It is the world’s last chance for an asset that can be owned and spent at the whim of the individual, without any interference from any person or authority. The sooner the world’s population realises this, then the sooner we can move back to a hard, sound monetary system.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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