Crypto

New Ad Campaign for $1M Bitcoin Mining After Ethereum Merger

  • The climate change group wants Bitcoin to follow Ethereum’s lead and switch from a proof-of-work mechanism to a proof-of-stake consensus mechanism.
  • The group has unveiled a new $1 million ad campaign aimed at advancing its agenda by putting pressure on Bitcoin and companies like Fidelity, PayPal and Jack Dorsey’s Block.
  • Bitcoin enthusiasts already ridiculed this call when the “Change the Code, Not the Climate” campaign first launched in March.

It had to happen, and it did.

A new campaign is currently underway to harness the energy of Bitcoin as a Proof-of-Work (PoW) network. The debate got a new boost after Ethereum finally started software upgrades via Merge and became a Proof of Stake (PoS) blockchain.

Additionally, as Ethereum reduces energy consumption by 99.95% and Ethereum co-founder Vitalik Buterin confirms that it reduces global consumption by 0.2%, a number of environmental groups are looking to follow Bitcoin’s lead. is.

Group Claims Bitcoin Is a ‘Blowout’

Statement. It has been published. On Thursday, the Environmental Working Group said it launched a $1 million publicity campaign to encourage rethinking of Bitcoin’s “outdated” PoW consensus mechanism.

In addition to online advertising, the initiative through Greenpeace is petitioning Fidelity Investments, which recently added bitcoin to its clients’ retirement accounts (401(k)) to help move BTC from PoW to PoS. increase. Other players mentioned in the release are PayPal and Jack Dorsey’s Block (formerly Square Inc.).

Michael Brune, director of Change the Norms, Not the Climate, said that Bitcoin needs to pay attention to and take responsibility for the climate crisis. he said:

“With fires raging around the world and historic floods destroying lives and livelihoods, state and federal leaders and business leaders are racing to decarbonize the environment as quickly as possible. Ethereum shows that it is possible to switch to an energy efficient protocol that pollutes the climate, air and water much less. Other cryptocurrency protocols have worked with efficient consensus mechanisms for years. Bitcoin has become an exception and categorically refuses to take responsibility for climate change.”

According to the Change the Norms, Not the Climate group, Congress and the Biden administration are in discussions in an attempt to advance the campaign’s goals.

Bitcoiners have already told the group that this will not happen after a $5 million campaign against BTC was launched in March. In fact, people are commenting that bitcoin mining has already gone green all over the world.

Darin Feinstein, co-founder of blockchain firm Core Scientific, explains why Greenpeace should have fought for bitcoin and not against it, as he did in his March tweet:

So the ethereum merger is a “Change the Normal, Not the Climate” campaign. What kind of momentum do you want to get for “change” to happen? .

post A new $1 million ad campaign for bitcoin mining after the Ethereum merger first appeared in a coin magazine.

https://bitcoinwarrior.net/2022/09/new-1m-ad-campaign-against-bitcoin-mining-after-ethereums-merge/ New $1 million ad campaign for bitcoin mining after Ethereum merger

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