Bitcoin Criticism From Bill Gates: Bad For Our Planet! - News-Credit-Mortgage-Coin

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Thursday, February 25, 2021

Bitcoin Criticism From Bill Gates: Bad For Our Planet!

 

Bad For Our Planet!


During a Clubhouse interview with CNBC's Andrew Ross Sorkin, Microsoft co-founder Bill Gates criticized Bitcoin (BTC) for its excessive use of energy, claiming it consumes more electricity than "any other way known to man.


"BITCOIN USES MORE ELECTRICITY PER TRANSACTION THAN OTHER METHODS KNOWN BY HUMAN SON."


However, he said he wouldn't have an issue with Bitcoin (BTC) if it was based on green electricity:


“IF YOU USE GREEN ELECTRICITY AND DO NOT RESTORE OTHER USES, MAYBE IT'S NOT A PROBLEM. EVEN IF YOU LABEL ME AS A BITCOIN SUSPICIOUS, I DON'T FIND THIS TOPIC. "


Gates reiterated that although he made a statement recently, he has not yet entered the Bitcoin (BTC) space:


"I DID NOT CHOOSE TO INVEST IN BITCOIN. I BUY MALARIA VACCINES. I BUY MISCELLANEOUS VACCINES. I INVEST IN COMPANIES THAT MANUFACTURE PRODUCTS. "


The Microsoft founder nevertheless mentioned that he appreciates those who make fortunes with BTC. The Gates Foundation is currently developing its own digital currency with "very low" transaction fees.


Ripple CEO: Bitcoin mining is a huge waste

As big companies like Tesla and Square add Bitcoin (BTC) to their balance sheets; They are faced with growing criticism from those concerned about the carbon footprint of the cryptocurrency.


In March, Ripple CEO Brad Garlinghouse described mining as "a huge waste." He called on public companies to use "more energy efficient" assets in October.


It has since softened its rhetoric regarding proof-of-work (PoW) currencies. In his latest tweet, he encouraged his followers to sustainable mining:


“THE PRIORITIES OF BODEN MANAGEMENT IS CLEAR - EVERY DAY, THEY TALK ABOUT CLIMATE CHANGE. Instead of discussing exactly how much energy mining uses, let's focus on making this industry a leader in sustainability. "

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