Bitcoin Shunned For Its Bad Design And Humanity Concepts By Gelsinger, VMWare CEO
Pat Gelsinger is the Chief Executive Officer (CEO) of VMWare, one of the biggest and most popular virtual machine and computing companies. In the last few days, Pat has gone on record stating that Bitcoin or BTC as it is fondly referred to by crypto enthusiasts is bad for the human race. Fortune Magazine had the pleasure of speaking to the CEO a few days prior to the VMWare annual conference that was to be held in San Francisco on August 26th.
Gelsinger stated that one of the issues he had with Bitcoin pertained to its high energy consumption. BTC miners have on many occasions complained of the high energy bills that they have to pay when mining the crypto. Pat is convinced that these high energy bills, in the end, contribute to global warming and other unwanted effects on the environment.
Bad For Humanity
According to the renowned CEO, many of the people using BTC often use crypto when engaging in illicit activities. He goes on to add that at the end of the day, all the activities revolving around the use of BTC naturally makes it unfit for human use. The CEO is, however, neutral when it comes to the use of blockchain technology to try and revamp the financial sector.
Bitcoin And Increasing Energy Concerns
Since its inception, Bitcoin has proved to be a concern for anyone who may be worried about the environment. Alex De Vries, a blockchain specialist, and data consultant held an interview with Cointelegraph where he spoke about the numerous impacts that the blockchain technology has on the existing ecosystem.
He is on the record stating that mining is often conducted using renewable energy as well as coal electricity. But when it comes to the former, no one is sure of the type of energy that is being displaced for mining to occur. Additionally, scientists have confirmed that renewable energy does leave behind a lifetime carbon footprint.
This means that the more energy is used in mining BTC, then the more impact that it is likely to have on the environment.