Garlinghouse: 1 Bitcoin Transaction Requires 75 Gallons of Gasoline
Ripple CEO Brad Garlinghouse said performing a single Bitcoin transaction requires burning 75 gallons of gasoline. This shocking statistic gives a degree of the scale of Bitcoin’s possible environmental impact. Bitcoin Gets a Thumbs Down From Environmentalists It emerged recently that Bitcoin’s annual energy consumption currently matches that of a mid-sized country, with Argentina given […]
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Ripple CEO Brad Garlinghouse pays tribute to the UK’s Financial Conduct Authority, as well as the Monetary Authority of Singapore. In a tweet, Garlinghouse spoke highly of the way each regulatory authority oversees their respective territories. Going further, Garlinghouse said it’s no wonder that both the UK and Singapore have burgeoning crypto industries. 1/ UK’s […]
Ripple CEO Brad Garlinghouse reiterated his concerns over the lack of regulatory clarity from the U.S. Securities and Exchange Commission (SEC). Previously, both Garlinghouse, and Ripple CTO Chris Larsen, had expressed a desire to leave the U.S. due to what they perceive as stifling conditions. More recently, in a CNN interview, Garlinghouse said little has […]
In this, Part Three of a three-part series, we explore the impact the bitcoin network is having on the environment. Part One projected exactly how much carbon dioxide each bitcoin produces, while Part Two put this figure in context with the broader financial sector. This article explores potential solutions to bitcoin's growing environmental problem. It turns out that the electricity used to produce bitcoins produces quite a bit of carbon dioxide - the equivalent of burning 16 gallons of gasoline, in fact. That means the entire bitcoin network uses slightly more power than it takes to run....
Ripple CEO Brad Garlinghouse has addressed some of the allegations made by the U.S. Securities and Exchange Commission (SEC) against his company. He focused on answering five questions on what he calls “unproven allegations” by the regulator. Garlinghouse Says There Is ‘Regulatory Chaos’ in the US In a Twitter thread on his official profile, Garlinghouse claimed that the blockchain company “tried” to settle with the U.S. SEC. He added that the firm will try again with the new administration but refused to go into specifics. In response to crypto....
In this, the second of a three-part series, Danny Bradbury explores the impact the bitcoin network is having on the environment. Part One uncovered exactly how many pounds of carbon each bitcoin produces. Here, this figure is compared to the broader financial sector. Yesterday, we explored how much carbon the average fossil fuel-using miner emits when they produced a bitcoin. 16 gallons of gasoline sounds a lot, but in the broader context, just how bad is it, and how can we frame that argument? As some people pointed out in the comments, it's all relative. Bitcoin advocates are quick to....