NY Mayor: “I support cryptocurrency, not crypto mining”

New York City Mayor Eric Adams has made clear he does not endorse crypto mining, despite making a name for himself as a staunch supporter of cryptocurrency.

While Adams has committed to making the Big Apple a center of crypto trading, his views on the environment have been mostly aligned with critics of the crypto industry, and in particular those who want to use excessive amounts of energy to get more of it.

“I support cryptocurrency, not crypto mining”, the mayor said. Adams’ name is almost synonymous with cryptocurrency in big government.

He accepted his first paycheck in bitcoin (BTC) and remained firmly behind his decision even amid a market crash that sent the price of BTC plummeting.

Meanwhile, there has been a lot of opposition against a gas-powered plants in the upstate area that is now being used to mine cryptocurrencies.

Adams seems to be supporting those concerns. The Seneca Lake is particularly threatened by pollution, overheating and waste.

Meanwhile, Seneca Lake Guardian, a not-for-profit that addresses various environmental issues, including the onslaught of crypto mining, has issued the following statement in response to Adams’ own endorsement of a greener stance on crypto: “Bitcoin mining could cost New Yorkers millions of dollars in energy bills while kneecapping local businesses, poisoning our water, and filling our air with deadly CO2 emissions.”

However, others have issued a rebuttal of the claims that mining crypto in the plant near the Seneca Lake could cause any pollution, branding such statements as “absurd”.

Many currencies out there, though have been looking to switch to a proof-of-stake protocol which eliminates the need for expending such high amounts of energy. Dogecoin and Ethereum are already making the shift.

If you are interested in using crypto in an eco-friendly way, we recommend powering up your gaming experience with Bitcoin at 1xBit, FortuneJack or Bitcasino.io.

Source

Updated: 02/10/2022 — 22:00