- Greenpeace and the Environmental Working Group launched a $1 million smear campaign against Bitcoin after Ethereum merged into PoS.
- The campaign features a petition urging Fidelity, BlackRock, and others to move Bitcoin away from PoW.
- Opponents of Bitcoin need to understand how it really works.
Greenpeace and the Environmental Working Group have stepped up Bitcoin’s proof of work (PoW) attack with a $1 million, each Press Release.
Climate groups are pushing organizations like Fidelity, BlackRock, Block, and PayPal to influence the Bitcoin protocol. The purpose of the group is for these organizations to somehow help change the consensus mechanism from PoW to proof of stake (PoS).
The intensification of an attack begins in March with the launch “Change the Rules, Not the Climate” Today’s post-conclusion campaign of Consolidation, an event that changed Ethereum’s consensus mechanism from PoW to PoS.
Michael Brune, campaign director for Change the Code, Not the Climate said: “Ethereum has shown it is possible to switch to an energy-efficient protocol with less pollution to climate, air and water.
However, one could argue that these climate groups are missing something very important about Bitcoin. PoW is not only a real innovation and core to the successful operation of Bitcoin, this will not be the first time there has been pressure from organizations and businesses to change the Bitcoin protocol.
Whereby, Block size war has seen many organizations argue for a larger block size on the blockchain, which will lead to the centralization of nodes on the network, thus easing the distributed network we see today. Attempts to centralize the network ultimately failed as the decentralized network remained strong and an upgrade called SegWit The necessary upgrades for block sizes are allowed without focusing on Bitcoin’s infrastructure.
Furthermore, climate-based criticisms of Bitcoin are getting worse by the day. In fact, yesterday, the executive chairman of pro-Bitcoin software analytics firm MicroStrategy announced a paper refute many of the usual accusations.