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Greenpeace Stops Bitcoin Donations For Ecological Reasons

Published 05/23/2021, 10:00 AM
Greenpeace Stops Bitcoin Donations For Ecological Reasons

  • Greenpeace has stopped accepting Bitcoin donations.
  • Bitcoin has been facing bad press due to its PoW protocol energy use.
  • However, Bitcoin supporters remain convinced they can make Bitcoin greener.

Greenpeace, an environmentally-focused NGO, has stopped accepting Bitcoin (BTC) donations. The NGO cited Bitcoin’s adverse impact on the environment as the reason behind the decision.

Notably, Greenpeace was an early crypto adopter having started accepting BTC donations as early as 2014. Thus, this made Greenpeace one of the first NGOs to accept crypto donations. However, as Bitcoin is increasingly facing backlash for its energy consumption, the NGO has reevaluated its position.

In fact, Bitcoin has come under fire, not because it is a cryptocurrency, but because of the consensus protocol that runs the blockchain. Bitcoin utilizes a protocol called Proof of Work (PoW). Although PoW is one of the most accurate and secure protocols, it has a downside. The PoW con is that it is slow and consumes a lot of power.

To clarify,

This article was first published on coinquora.com

Continue reading on CoinQuora

Latest comments

Let's have a discussion about the environmental impact of getting and transporting material to print paper money or mint coins, and the impact of transporting the same. Us Greenpeace going to stop accepting fiat currencies too?
bitcoin will be green , only in paint! it is useless and environmental disaster
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