Ripple is funding propaganda against Bitcoin by teaming up with the government to spread energy FUD
2 min read
Ripple labs has been funding “research” along with government entities to spread propaganda against Bitcoin and mining.
In 2021, they funded a hit piece that claims energy prices for consumers in New York has increased by $6 per month because of mining.
Claim: Mining drives up household electricity bills
Surely its not the soaring costs of natural gas that is driving up electricity prices, but mining?
Not just in USA, in UK, natural gas is at decadal highs.
Surely, electricity prices that consumers pay have nothing whatsoever to do with inflation, or soaring gas prices that are in decadal highs.. but is due to bitcoin mining?!
Crude oil WTI futures are currently at 84, for comparison it was around 56 in Nov 2019 (pre pandemic). The last time WTI was above 80 was all the way back in 2014. Increasing crude oil natural gas prices, along with inflation that is at multi-decade high is not the reason for increase in household electricity, but its bitcoin mining that is responsible..
Thats according to this study funded by Ripple in collusion with the Department of Treasury. … The same Department of Treasury headed by another well known Bitcoin hater Janet Yellen, who earned $7m as “speaking fee” from the same banks she is supposed to regulate but has tried to stifle Bitcoin and crypto at every opportunity.
Research with “financial support” is nothing but propaganda, especially when it’s funded by a competitor to bitcoin that lobbies with the government. Ripple continues to be a centralised premine scam created to enrich its founders.
Ripple has also cozied up with the likes of WEF, the very organisations Bitcoin was created as a fuck you to. https://www.weforum.org/organizations/ripple
As its price and narrative around the shitcoin has stagnated, Ripple is resorting to dirty political tricks to get a leg up. As usual, they will fail.
The narrative that bitcoin mining companies cause increase in electricity bills in NY is rubbish, as the largest BTC mining companies in New York produce their own energy. Infact the last one to start mining in NY is a hydro electric plant that was unused for years, before they started mining Bitcoin last year.
https://www.timesunion.com/news/article/Mechanicville-hydro-plant-gets-new-life-16299115.php
The other large mining company Greenidge Generation also produces its own energy.
submitted by /u/Set1Less
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