The creator of Cardano Charles Hoskinson addresses a massive threat to Bitcoin. Check out the following reports below.
Cardano creator addresses Bitcoin
The latest reports reveal that the Cardano (ADA) creator Charles Hoskinson is warning that new recommendations by the US government do not bode well for Bitcoin (BTC) and other cryptos.
Taking issue with the recommendations of a new White House Office of Science and Technology Policy report that calls for the involvement of the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy (DoE) to create evidence-based environmental standards for the responsible design of digital assets.
Hoskinson explained that the proposals could result in an outright ban of Bitcoin.
“[The] EPA and DoE are going to start talking to crypto companies to basically tell them to change the way that their cryptocurrencies work.”
He continued and said:
“And which way? Well, these should include, ‘Standards for very low energy intensities, low water usage, low noise generation, clean energy usage by operators and standards that strengthen over time for additional carbon-free generation to match and exceed additional electricity load of their facilities.”
He also stated the following:
“Should these measures prove ineffective at reducing impacts, the administration should explore executive actions and Congress might consider legislation to limit or eliminate the use of high energy intensity consensus mechanisms for crypto-asset mining.’”
He concluded by saying that in other words, Bitcoin should be banned. “That’s how you read that.”
Regarding Bitcoin, at the moment of writing this article, BTC is trading in the red and the king coin is priced at $21,305.
According to the latest reports, the CEO of financial advisory giant deVere Group, Nigel Green, says that recent activity by Bitcoin (BTC) whales is making him bullish on the king coin.
According to Green, one of the reasons he is bullish is that Bitcoin whales could be preparing to jump back into the market after a longer period of selling.