“Bitcoin is bad for all mankind”

“Bitcoin is bad for all mankind”

VMware’s cloud computing CEO Pat Gelsinger said bitcoin is bad for all of humanity.

According to Gelsinger, the blockchain technology is neutral and can be applied in various fields, but using a blockchain to create bitcoin is a bad step. It’s all about the resources consumed by the first cryptocurrency for computers, servers and cooling.

“In order to enter one entry in the Bitcoin registry, energy is needed that could power a whole house for half or even a whole day. It is not good for the climate – it is extreme. This is just a bad thing, ”said Gelsinger.

He also noted that the first cryptocurrency is often used for illegal activities. In conclusion, Gelsinger said that bitcoin is “a bad thing for all of humanity,” and that he is ready for resentment from the cryptocurrency community.

A similar view was previously expressed by the 2001 Nobel Laureate in Economics, Joseph Stiglitz. According to him, all cryptocurrency projects should be closed, as “they are a bunch of criminals.”

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Note that recently VMware has signed an agreement with the Australian Stock Exchange (ASX) to develop a blockchain-based clearing and settlement system.


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