23 February, 2024

Environmentalists Are Campaigning For Bitcoin Code Change, Spends $1M

1 year ago

12 Dec, 2023

Environmental organizations have committed to spending an additional one million dollars on internet advertisements in order to increase the amount of pressure placed on the Bitcoin community to modify the code of the network in order to lower the amount of energy that is used.

According to the activists who are headed by Greenpeace USA and Ripple co-founder Chris Larsen, state and federal politicians, as well as business executives, are in a race to decarbonize as rapidly as possible in light of the widespread fires that are raging throughout the globe and the record floods that are ruining lives as well as livelihoods.

In their words:

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.

Back in March, Greenpeace released a video about how Bitcoin was fueling climate change and how a change in node could solve it all. They said that they “need businesses and people working with Bitcoin to join us in driving this change.”

In addition to the newly established ad funds, Greenpeace USA launched an online petition asking the multi-trillion-dollar asset management Fidelity Investments to assist take the initiative in encouraging Bitcoin to transition from PoW to PoS.

“If Ethereum can change its code to cut air pollution and climate disruption, why can’t Bitcoin? It’s unacceptable that a supposedly ‘innovative’ technology like bitcoin is unnecessarily extending the life of fossil fuels through this wasteful process that impacts our air and our land.”