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Ripple CEO on BTC and ETH: Mining them is a massive waste of energy

Ripple CEO on BTC and ETH Mining them is a massive waste of energy

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TL;DR

Ripple CEO, Brad Garlinghouse has lashed out on Bitcoin and Ethereum in which he stated that mining them is a massive waste of energy. Garlinghouse tweeted via his official account and the views of Ripple CEO on BTC and ETH faced some mixed reactions in the reply section.

According to a report which was released by The Telegraph in January, a single Bitcoin transaction consumes energy worth 2 months for an English household. Also, the energy required to operate Bitcoin is equal to the energy consumption of Chile. Spending more than 52,000 hours of watching Youtube is equal to a single transaction of Bitcoin if carbon footprint is taken into consideration.

Ripple CEO on BTC and ETH: XRP v. BTC?

According to the tweet by the Ripple CEO on BTC and ETH, mining these cryptocurrencies is a huge wastage of electrical energy. If someone wants to take responsibility for the carbon footprint, there is no incentive for doing so. The fact that no one is targetting this and no one has this on their agenda when the whole world is crying for climate crisis is mind-boggling.

With this, he attached the Telegraph report. A lot of supporters of XRP were in favor of Garlinghouse’s views about the massive energy waste that BTC and ETH consumes. However, the people on the other side of the debate were not at all impressed by the Ripple boss.

A user said that XRP is currently at $0.23 as compared to BTC which has touched $10000 recently. No one cares about energy consumption. While a few commented that it’s just sour grapes for Garlinghouse and he has no way to get back at the leading cryptocurrency and the leading altcoin.

A user interestingly pointed out Garlinghouse’s last year’s interview in which he said that he owns bitcoin and he sees is as a long-term opportunity. This was said by the Ripple CEO in an interview with the fortune magazine which served as a surprise because before that he was anti-bitcoin.

 

Featured image from Pixabay

 

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Mihir Sharma

Mihir has always been attracted to finance, crypto, and blockchain. His Chemical Engineering background gave him the edge to make his news reports precise and concise. Leveraging his stint with English Forward News, he looks forward to his next adventure in the cryptosphere.

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