MIAMI, Could 20, 2021 /PRNewswire-PRWeb/ — In a brand new Op-Ed titled ‘Elon Musk: Crypto Leaders Must Make sure the Bitcoin Increase Is Sustainable’, Gryphon Digital Mining CEO Rob Chang and Chairperson Brittany Kaiser tackle latest actions taken by Musk in response to bitcoin’s vitality utilization. As Musk points a halt to Tesla utilizing the cryptocurrency, Kaiser and Chang argue that there are answers to the blockchain’s vitality consumption, and the worth it offers should not be ignored in favor of the associated fee.
Whereas bitcoins, cryptocurrencies, and different digital property like NFTs drive a world increase, politicians and legislators search to restrain the rising area over vitality considerations. The U.S Treasury Secretary and former Federal Reserve Chairwoman Janet Yellen made disparaging feedback concerning the foreign money, but the Federal Reserve is each searching for to introduce its personal digital greenback and don’t publish figures concerning the vitality prices of producing U.S. {dollars}. In distinction, Chang and Kaiser level to how the State of Wyoming started participating with cryptocurrencies in 2017 and since have introduced tens of billions of {dollars} value of digital asset companies into their economies.
“Sure, Bitcoin and different cryptocurrencies that depend on mining laptop {hardware} can use massive quantities of vitality, simply because the 5 billion views of viral music video “Despacito” burned as a lot vitality as 40,000 U.S. houses in a yr,” they wrote, noting the disproportionate give attention to the vitality utilization of helpful digital property, verses the consumption of different programs that present the general public with much less worth.
Kaiser and Chang additionally observe that many complaints about bitcoins and cryptocurrencies are overstated, together with claims that they’re principally utilized by criminals and are too unstable in comparison with different ‘trusted’ legacy property. As an alternative, they cite reporting from Forbes and CoinDesk that discredits these claims, providing proof to point out how these claims are over-exaggerated. Whereas some will permit themselves to be led alongside by deceptive narratives and the phrases of influencers, these authors as a substitute assert that individuals ought to look previous these naysayers and as a substitute assume extra critically.
Of their Op-Ed, Gryphon Digital Mining explains that whereas Bitcoin is reported to be a high 30 ‘nation’ for vitality consumption, it additionally carries with it a $1 trillion market cap, which ranks seventeenth when in comparison with world GDPs. Because the Deutsche Financial institution not too long ago claims it might “not ignore Bitcoin,” the Gryphon executives argue that the worth introduced by these new digital avenues is value investing in. Nonetheless, they make no arguments about using soiled vitality, and as a substitute have constructed their group with the aim of enterprising carbon-free crypto. Of their eyes there’s a answer right here that each permits the digital foreign money to flourish whereas eradicating its contributions from the local weather crises. Nonetheless, they are saying it requires collaboration versus competitors, in order that business leaders and executives can work collectively to find revolutionary new options.
Gryphon Digital Mining is an revolutionary new enterprise within the cryptocurrency area devoted to serving to carry digital property onto the clear vitality grid. With a gifted management crew coming from manufacturers like Netflix, Disney, Fb, Google, Nasdaq, and Cantor Fitzgerald, they’re working to drag in specialists from throughout the globe to enhance digital currencies. Extra data is accessible on https://gryphondigitalmining.com/.
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SOURCE Gryphon Digital Mining
