Is Bitcoin (BTC) a waste of energy or not? That has been a matter of debate for some time and that discussion was recently rekindled by Elon Musk. According to the CSO of Coinshares, a European investment firm, one party can be blamed for the recent fear, uncertainty and doubt (FUD) that caused the bitcoin price to drop sharply.
The CSO, called Meltem Demirors, made its statements in response to a question from Barry Silbert, CEO of Digital Currency Group. He wondered, “What if there is a single company behind most bitcoin energy consumption FUD?” Demirors seized the moment to share her suspicions:
“It starts with rip and ends with ple they have also spent the most on lobbying in the past 3 years ”
Demirors is probably referring to the various comments from the top of Ripple, the company behind the XRP (XRP) cryptocurrency. For example, Chris Larsen, co-founder of Ripple, is said to have stated during the past three interviews that Bitcoin consumes a barrel of oil per transaction:
In addition, of course, we also saw David Schwartz, CTO of Ripple, make several negative statements about Bitcoin on Twitter. In April he criticized the statement that Bitcoin actually stimulates green energy.
It is of course blunt to say that Ripple is the main instigator of the current panic. In addition, there is no shocking evidence that it is an active Ripple campaign. Nevertheless, the criticism of Bitcoin may be somewhat justified. However, whether Bitcoin itself should be adapted or whether bitcoin miners should adapt is the big question.