Change The Code Campaign Against Bitcoin

ADS


Greenpeace USA and the Environmental Working Group (EWG), with $5 million in backing from Ripple Labs co-founder Chris Larsen, recently launched the Change The Code Campaign. This lobbying effort — steeped in misinformation and outright falsehoods — sensationalizes the climate impact of Bitcoin and promotes irrational moral panic. The campaign is underpinned by a widely debunked study and publicly pressures roughly 30 so-called influential people in the Bitcoin community to change its consensus mechanism from meritocratic proof-of-work to oligopolistic and plutocratic proof-of-stake.

The campaign reads like a real-life version of the “I just discovered Bitcoin and I’m here to fix it” meme, which pokes fun at newbies who don’t understand that Bitcoin is already hyper-optimized for immutability, censorship-resistance and is extremely difficult, if not impossible, to change.

Bitcoin Is Immutable

Bitcoin’s unique architecture of user-run full nodes ensures that so-called thought leaders in the Bitcoin community could not change the foundational properties of the protocol, even if they wanted to. Its immutable, backwards-compatible architecture is what attracts people to Bitcoin in the first place and is what makes Bitcoin the apex digital asset. For the campaign to suggest that these powerful individuals could force a change in the protocol is absurd and suggests that Larsen and his campaign’s collaborators do not grasp Bitcoin’s architecture, purpose and resilience. If not that, one might assume that there are perhaps nefarious motives behind the campaign. In a recent interview Larsen said:



Source link Bitcoin Magazine

ADS

Be the first to comment

Leave a Reply

Your email address will not be published.


*