“XRP is‘ cleaner ’than Bitcoin”: statement that Pomp was unable to contradict
Is XRP greener than Bitcoin? On Thursday, prominent Bitcoin entrepreneur, investor and influencer Anthony Pompliano (aka Pomp) went to CNN to discuss Elon Musk’s sudden decision to stop selling Tesla cars for Bitcoin.
Image via Twitter
Presenter Julia Chatterley assumed that coins like XRP or Ethereum are not tillable and therefore are “cleaner” and “greener” than Bitcoin, and Pompliano was unable to overcome this with his argument about money being stored energy .
Despite her long speech about 75 percent of BTC miners that produce Bitcoin using some kind of renewable energy source and 50 percent using only renewable energy sources, Julia reminded Pomp that cryptocurrencies like XRP do not require mining, so no waste energy, renewable or not.
She also mentioned Ethereum. However, ETH is a mined, proof of work (PoW) cryptocurrency, and the move to a proof of participation (PoS) algorithm is only planned when the blockchain fully implements all stages of the Ethereum 2.0 update.
Tesla and the “clean” mining theory of Bitcoin
When the conversation returned to Tesla abandoning Bitcoin payments and what reasons could lead Elon Musk to do so, the presenter said neither Tesla nor Musk sold their Bitcoin stakes.
Pompliano estimates that in the future, Tesla will likely introduce a Bitcoin mining product that will use 100% renewable energy. So far, he said, Elon Musk has focused on this problem only to offer a solution later.
He even assumed that Tesla’s CEO probably bought Bitcoin’s slump after the asset plummeted to the $ 47,000 level after his own tweet.
At the moment, Pomp added, 65 percent of all BTC mining is done in China, using energy from fossil fuels like oil and coal that produce heavy emissions.
But now that majority is gradually moving to the US and Canada: regions where clean energy is easier to find and also encouraged.
China seeks to ban high energy consumption projects
Meanwhile, as reported by U.Today previously, the head of the Chinese Communist Party, Xi Jinping, announced that the country would aim for the standard of lower emission rates.
High energy companies that fail to meet the new standards will be banned.