.Ripple's Chris Larsen says that he wants Bitcoin to succeed
, Larsen teamed up with Greenpeace USA in order to launch a $5 million advertising campaign targeting Bitcoin’s energy-guzzling consensus mechanism. The initiative has attracted scathing criticism from the Bitcoin community, which views the upcoming ad blitz as a direct attack on the world’s largest cryptocurrency. Some of the ads will point fingers at the most powerful supporters of Bitcoin, including former Twitter CEO Jack Dorsey.
Larsen says that he himself holds Bitcoin, and he wants it to succeed in the future, which is why he is pushing for a highly improbable code change. , Larsen urged regulators to punish Bitcoiners during a podcast appearance in September while lauding Ethereum co-founder Vitalik Buterin as a “hero” for working on ditching proof-of-work .
The billionaire believes that it will be challenging for Bitcoin to compete with Ethereum once the latter switches to the proof-of-stake consensus algorithm. The second-largest cryptocurrency is expected to reduce its energy consumption by 99.95% after the completion of its much-anticipated upgrade.
As Larsen points out, US Securities and Exchange Commission Chair Gary Gensler is laser-focused on climate, and major institutions will be reluctant to invest in Bitcoin due to the flagship cryptocurrency’s excessive consumption. The Ripple co-founder claims that the company itself is not part of the campaign, stressing that it’s his own initiative.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Greenpeace, Ripple co-founder campaigning to change Bitcoin codeClimate activism group Greenpeace is campaigning to change Bitcoin’s code away from using proof-of-work and mining, pressuring industry leaders to adopt a more environmentally friendly model.
Read more »
Ripple Co-Founder Commends Ethereum's Transition to Proof of StakeRipple co-founder applauds Ethereum's shift to proof of stake Ripplearmy RippleNet XRPCommunity XRPArmy XRPHolders XRPtheStandard XRP ETH
Read more »
Ripple Identified as 'Opportunity in Payments' Alongside Circle by Goldman SachsRipple is seen as 'opportunity in payments' together with Circle by Goldman Sachs Ripplearmy RippleNet XRPArmy XRP XRPHolders XRPCommunity
Read more »
Ripple's Chris Larsen and Greenpeace Start Campaign to Make Bitcoiners Give up PoW.Ripple co-founder chrislarsensf donates $5 million to try and get Bitcoin community to give up PoW. Greenpeace $BTC cryptomining elonmusk saylor
Read more »
Greenpeace, Ripple co-founder campaigning to change Bitcoin codeClimate activism group Greenpeace is campaigning to change Bitcoin’s code away from using proof-of-work and mining, pressuring industry leaders to adopt a more environmentally friendly model.
Read more »