Bitcoin 2.0? Greenpeace and Chris Larsen

So this one seems important.

Several climate activist groups, including Greenpeace and cryptocurrency billionaire Chris Larsen (CEO of Ripple), are launching a campaign called “Change the Code, Not the Climate”, which aims to influence the community of Bitcoin holders to change their thinking, as BTC is already said to use the same amount of energy as Sweden (I’m not kidding).

Turns out the green attack on #BTC has begun. And it’s supported by #Wallstreetjournal #Politico, #NewYorkTimes, all the channels of the #Meta group and many others. Do you think it’s accidental? Ha-ha.

What’s going on?

It is claimed that Bitcoin consumes a lot of energy and that this energy is from non-renewable resources and so on and so forth. We have heard it all many times before. The fact that it is a little different is glossed over, along with other facts: it turns out that Christmas lights in the US alone consume more electricity than #BTC, but the greens are not going to explain what damage those lights do. New York State has already banned the mining of Bitcoin. The target of choice is #PoW blockchains. Why not go along with the same for Christmas lights, adult film channels, or electric kettles? All of them, taken individually, use more energy than Bitcoin. Is there no one to fund that kind of movement?

So, prediction.

A new Bitcoin “fork” will be developed, similar to Bitcoin Cash. Which will supposedly be extremely “green” and protect the mother earth. Serious efforts will be made to popularise this new BTC 2.0

Why now? Because #Ethereum has probably already succeeded in doing so. It is said to be a matter of months. Hence it is possible. Will it be the same as with Ethereum? Not exactly, but it will be used as an example. The same group claims that changing the Bitcoin code will save 99% of energy.

Would the blockchain be as secure? The question remains open. What about the 51% against system hijacking? It is also unclear. What is clear is that attempts will be made to explain through all channels how evil the current Bitcoin is and how good the new one will be. Think it won’t work? As long as Bitcoin is used by a despicably small part of society and global events affect resource prices, it will be ridiculously cheap to make.

Will they succeed?

At EU level, the first pancake got burned, but why not repeat it when there are more arguments? I think BTC as it is now will survive, but there will be thrown huge money in popularising the new “Bitcoin2.0”. When? It’s hard to answer, but “off the top of the roof”, I would guess that something will be done in the summer of 2022. Because there is nothing to wait for. Cryptocurrency regulation is gathering momentum and it is time to change everything together and fundamentally.

What to do?

Nothing. I don’t think we can do anything. But we need to know what is happening. It is quite possible that nothing will happen and this initiative will remain on paper, but media + greens = opinion formation.

Maybe this is a good idea, what do you think?

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store