BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
FOLLOW
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result

Ripple Co-Founder Chris Larsen Labelled Traitor for Submitting a Proposal Against Bitcoin

BlockNews Team by BlockNews Team
September 20, 2022
in Business, Crypto, Media, Social
GreenPeace Logo
Share on TwitterShare on Reddit

The cryptocurrency community labeled Chris Larsen ‘Judas’ for submitting a proposal against Bitcoin. Chris, Ripple’s co-founder wants Bitcoin to reduce its energy consumption and environmental impact. Chris Larsen is collaborating with Sierra Club and Greenpeace to bankroll a $5 million campaign that aims to change the code that will divert Bitcoin’s energy use.

Larsen and Greenpeace have been pushing for ideas to the extent that Larsen told Bloomberg that,

“Now with Ethereum changing, Bitcoin really is the outlier. Some of the newer protocols, Solana and Cardano, are built on low energy.”

Chris Larsen is a big name in the cryptocurrency industry due to his success in co-founding Ripple in 2012. Among Ripple’s top 100 customers are Santander and American Express. Therefore, such a proposal has not impressed most people. Most people and investors shun him for his selfish actions due to his relentless campaign to change Bitcoin’s code.

What is Greenpeace and “Change the Code” Project?

Greenpeace is an independent environmental advocacy group that has concerns about the energy required to mine Bitcoin. It seems Larsen and Greenpeace agree on the idea of energy reduction in bitcoin.

The goal of the campaign is to convince people in the bitcoin network to replace the energy-intensive mining process with a system that displays proof of stake. The system uses less electricity and can be used by other blockchains.

Change the code not the climate project believes that Bitcoin alone could increase global warming by 2 degrees. The project aims to reduce Bitcoin energy consumption. According to the official website,

“Bitcoin requires so much power that its “miners” have started buying US coal plants. They are using fracked gas and are striking deals with the oil industry in Texas to use flare gas to fuel their operations.”

Most people are against the idea because Bitcoiners are already sensitive about the industry being judged with misinformation and unfair isolation. Most people took to social media to comment on Larsen’s initiative. A majority of comments did not support the idea because these people believe it is not the right time to introduce changes to Bitcoin.

Change the Code Not Climate Reviews

Many people took to social media to comment on the issue. Many cryptocurrency users are not happy about the decision.

Artullo Portola says,

“For all the openness Bitcoin is portrayed to have, it’s somewhat odd that this proposal is being faced with so much hatred and hostility from the Bitcoin community.”

OyeYknow says,

“You just wasted a good amount of time and energy with this diatribe. Bitcoin, and its PoW mechanism, needs more energy not less.”

Nufsed007 says,

“I’d like to share an update on how my thinking has evolved on this front.”😅😅😂😂🤣🤣🤣 It’s very simple! You’re NOT thinking!! And trying to second guess the genius that created #Bitcoin    is just sheer arrogance!”

dka218 says,

“Literally no one is interested in the thoughts of someone who has billions of XRP scam coins to unload. XRP keeps dropping bitcoin terms. Bitcoin isn’t going to take your advice to become insecure and centralized like the XRP scam.”

BigSeanHarris says,

“#Bitcoin    is rules without rulers. A move to PoS would make it fiat -a money with rulers but no set rules. This is a bad idea and a waste of money.”

Closing Thoughts

In summary,  the cryptocurrency community sees Larsen’s ideas as selfish. Many say that his ideas will chase the current bitcoin investors. Ripple is a massive organization with different investors. Introducing creative ideas must involve these stakeholders.

Tags: BitcoinBlockchaincryptoWeb3
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

Members of Pop Social
Media

Pop Social Raises $4M in Strategic Seed Round

September 27, 2023
Riot Bitcoin Farming Facility
Featured

Texas now leads U.S. Bitcoin mining, outpacing former leaders Georgia and New York

September 27, 2023
binance bitcoin - Eth
Business

Binance Makes a Comeback in Belgium, Three Months After Order to Stop

September 27, 2023
Coinbase Logo over dotted map of Europe
Business

Coinbase Strengthens European Footprint with Bank of Spain Registration

September 27, 2023
Crypto Coins on European Flag
Crypto

European Investors’ Rising Confidence in Cryptocurrency Divergent From US Sentiments

September 27, 2023
Terra Luna Logo
Crypto

Terra Classic Community Votes to Stop Minting and Reminting USTC Tokens

September 27, 2023
Load More
Next Post
Eth-Logo

Smart Contract Hack: Ethereum’s PoW Fork (ETWH) Gets Hacked

Bitcoin

Bitcoin Falls To $18,000 Ahead of FOMC Meeting - What Next For BTC?

Timaland

Music Producer 'Timbaland' has a Web3 Alter Ego That is Too Perfect Not to Name

Related News

friend.tech

Friend.tech Shakes Up Digital Space, Surpasses Established Crypto Platforms

August 22, 2023
The Game Wallet

Turn Your Old Game Boy into a Cold Storage Crypto Wallet

May 22, 2023
Robert Kiyosaki

Buy Bitcoin (BTC) Now – Robert Kiyosaki

October 5, 2022

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Featured
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
Discord Twitter Instagram TikTok
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Featured
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Pop Social Raises $4M in Strategic Seed Round September 27, 2023
  • Texas now leads U.S. Bitcoin mining, outpacing former leaders Georgia and New York September 27, 2023
  • Binance Makes a Comeback in Belgium, Three Months After Order to Stop September 27, 2023

© 2022-2023 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022-2023 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?