Justin Sun has announced on Twitter that he will donate 1 million dollars to combat global warming. The CEO of the TRON Foundation shared on Twitter that this money is used for the United Nations Framework Convention on Climate Change (COP25).
As a young entrepreneur ..
The reason why Sun wants to donate money now is because he was inspired by the passion of Greta Thunberg. The Swedish climate change activist was recently named TIME Magazine’s Person of the Year.
As a young entrepreneur, I share @GretaThunbergPassion for change the world. Crypto will contribute immensely on reducing carbon footprint by implementing decentralized settlement. I would like to commit USD $ 1 Mil to personally @GretaThunberg Initiative. # cop25
– Justin Sun (@justinsuntron) December 18, 2019
He claims that he shares a similar passion for changing the world. He adds that cryptocurrency will reduce the global carbon footprint. This must be achieved through the implementation of decentralized settlements.
The comments under this Sun tweet are generally cynical and negative.
Justin Sun is a master marketer
Whether this is a sincere tweet remains to be seen. Justin Sun is known for using Twitter to draw attention to TRON and to himself. Perhaps infamous is a more appropriate description here. Think, for example, of all the attention that he generated, and also received, when he supposedly went to lunch with investor Warren Buffett for $ 4.5 million.
When it came to a halt, Sun had to cancel due to health reasons. But also afterwards he continued to post ambiguous marketing messages:
Make a guess? ? https://t.co/h4qsKKo3nm
– Justin Sun (@justinsuntron) December 17, 2019
The fuss about the CO2 emissions of bitcoin
It is an understatement to say that the opinions are divided when it comes to the global carbon footprint of cryptocurrency. Just about every critic cites the emissions from all those computers as an argument why bitcoin should be stopped. Critics are referring to the electricity that bitcoin miners use to secure the network.
It cannot be denied that the bitcoin network is currently using a lot of energy. Some studies claim that bitcoin uses more energy than Austria.
Science and tech magazine The New Scientist, however, published a study last month claiming that the CO2 footprint of miners is much lower than previously thought. The researchers criticized claims that bitcoin would consume no less than 63 megatons of CO2 annually. They claim that these estimates are based on the assumption that CO2 emissions are the same throughout China. More than half of all miners work from China because the energy there is cheaper than elsewhere.
The magazine once again analyzed the Chinese bitcoin landscape and came to the conclusion that bitcoin emissions worldwide amount to 17.29 megatons of CO2.
That is considerably less than what is often assumed. But whether this is a good argument for Justin Sun is another story.
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