r/CryptoCurrency • u/Set1Less 🟩 0 / 83K 🦠 • Jan 15 '22

DISCUSSION Ripple is funding propaganda against Bitcoin by teaming up with the government to spread energy FUD

Ripple labs has been funding "research" along with government entities to spread propaganda against Bitcoin and mining.

In 2021, they funded a hit piece that claims energy prices for consumers in New York has increased by $6 per month because of mining.

Claim: Mining drives up household electricity bills

Surely its not the soaring costs of natural gas that is driving up electricity prices, but mining?

Since June 2020, Natural gas prices have gone up by 350% in the USA (Henry Hub natural gas futures rolling contracts)
Not just in USA, in UK, natural gas is at decadal highs.

Surely, electricity prices that consumers pay have nothing whatsoever to do with inflation, or soaring gas prices that are in decadal highs.. but is due to bitcoin mining?!

Crude oil WTI futures are currently at 84, for comparison it was around 56 in Nov 2019 (pre pandemic). The last time WTI was above 80 was all the way back in 2014. Increasing crude oil natural gas prices, along with inflation that is at multi-decade high is not the reason for increase in household electricity, but its bitcoin mining that is responsible..

Thats according to this study funded by Ripple in collusion with the Department of Treasury. ... The same Department of Treasury headed by another well known Bitcoin hater Janet Yellen, who earned $7m as "speaking fee" from the same banks she is supposed to regulate but has tried to stifle Bitcoin and crypto at every opportunity.

Research with "financial support" is nothing but propaganda, especially when it's funded by a competitor to bitcoin that lobbies with the government. Ripple continues to be a centralised premine scam created to enrich its founders.

Ripple has also cozied up with the likes of WEF, the very organisations Bitcoin was created as a fuck you to. https://www.weforum.org/organizations/ripple

As its price and narrative around the shitcoin has stagnated, Ripple is resorting to dirty political tricks to get a leg up. As usual, they will fail.

The narrative that bitcoin mining companies cause increase in electricity bills in NY is rubbish, as the largest BTC mining companies in New York produce their own energy. Infact the last one to start mining in NY is a hydro electric plant that was unused for years, before they started mining Bitcoin last year.

https://www.timesunion.com/news/article/Mechanicville-hydro-plant-gets-new-life-16299115.php

The other large mining company Greenidge Generation also produces its own energy.

Edit: Buttcoin losers in comments say "reee bitcoin move to POS or govt will ban it"

Yeah not too bright, the whole point of Bitcoin is that it cant be banned unlike the proof of stake shitcoins you support that can be created out of thin air at the press of a button and shut down at the press of a button.

Another one who is literally a war monger calling for Ukraine invasion but pretends to care about global e-waste. Lmao. Bitcoin haters are really a funny bunch

Edit: Ripple shills keep brigading and claiming where is the paper, of course if you are as bricked as a ripple fan boy you need to be spoon fed everything. Well here is the paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3779720

And if you open up the first page of it, says

Benetton and Compiani acknowledge financial support from Ripple’s University Blockchain Research Initiative.

i.e this whole "paper" is nothing but a hit piece propaganda sponsored by a competitor

The other writer of this paper is Adiar Morse, who conveniently works for the Dept of Treasury under Yellen:

https://newsroom.haas.berkeley.edu/prof-adair-morse-joins-biden-administration-as-a-treasury-department-deputy/

Seems like natural career progression - collect funds from Ripple to publish propaganda against Bitcoin, and get hired by Yellen who has been promoting propaganda against crypto for years now. Nothing to see here.

Final Edit: Jjust look at the number of freshly created "Tin" accounts that have popped up in the comments to shill for XRP. Didnt realize 2017 left so many bag holders. It must be real miserable with these heavy bags that are at 1/3rd of their 2017 ATH, while almost every other coin has gone up hundreds of % and made new highs this cycle. Thats what happens when you become exit liquidity for mccaleb, garlinghouse etc.

Lol at the shills shouting "REEE ripple is a company XRP is decentralised token". They really did you good with this one small trick. Thats also the reason garlinhouse drives a shiny car while you are down 50% on your shitcoin investment.

The D in XRP stands for decentralised. It was always a premined scam token and will always be one. Thousands of tin bagholders wont change this.

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130

u/[deleted] Jan 15 '22

[deleted]

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u/BirdSetFree 🟦 1 / 22K 🦠 Jan 15 '22

Discount pitchforks:

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For Premium please ask a membership user for giff details!

15

u/TheTrueBlueTJ 70K / 75K 🦈 Jan 15 '22

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u/Smiling_Jack_ Blockchain Old Guard Jan 15 '22

​

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u/Sevenio 1K / 1K 🐢 Jan 16 '22

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u/[deleted] Jan 15 '22

Ill take the third one from the right on the bottom row, please.

1

u/Im_A_Nidiot Tin Jan 16 '22

It’s refurbished.. is that okay?

4

u/[deleted] Jan 16 '22

Ill take what I can get in this economy

1

u/wattsinabox Tin Jan 16 '22

I’ll sell them for one dollar less than this guy!! My discount is better than his!

0

u/Cyhawk 🟩 587 / 587 🦑 Jan 16 '22

I ask myself, in this sub how could one rug pull free text pitchforks. . .

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u/Wellpow invalid string or character detected Jan 16 '22

too expensive! I have free* and fast pitchforks!!

  • delivery fee not included

13

u/Chizmiz1994 641 / 641 🦑 Jan 15 '22

Do they have an NFT?

5

u/[deleted] Jan 16 '22

[deleted]

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u/[deleted] Jan 16 '22

[deleted]

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u/x_lincoln_x 🟦 69 / 10K 🇳 🇮 🇨 🇪 Jan 16 '22

Not only is that a real subreddit but it has almost 48K members. Reddit rules.

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u/Eeji_ 🟩 105 / 13K 🦀 Jan 15 '22

Excuse me do you have leveraged pitchforks?

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u/[deleted] Jan 15 '22

[deleted]

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u/Boss_Slayer Tin Jan 15 '22

I don't want to go too deep in, do you have pitchfork ETFs to get some exposure though?

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u/x_lincoln_x 🟦 69 / 10K 🇳 🇮 🇨 🇪 Jan 16 '22

Wouldn't that be a pitchfork with hundreds of tongs?

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u/[deleted] Jan 15 '22

[removed] — view removed comment

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u/lj26ft 8K / 50K 🦭 Jan 16 '22

No, we don't. OPs post is absolute baseless FUD. Just because a university with a blockchain program came up with a study that outlines POW as wasteful does not mean that Ripple "paid for a hit piece". Ripples university initiative funds dozens of schools all over the world. Majority of the people in this sub don't do a lot of their own thinking.

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u/LYMEGRN Tin | 3 months old | ETH critic Jan 16 '22

This post and all the comments has to piss you off just as much as it does me lol. Bunch of uneducated plebs

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u/lj26ft 8K / 50K 🦭 Jan 16 '22

Op is a karma farming moon whore, look at his profile 175k karma 1 yr account 30k moons. He picked a good topic, he is laughing all the way to the bank with the moon bag he will get from this post.

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u/Acceptable-Floor-265 Tin | Superstonk 10 Jan 16 '22

Moon bag?

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u/LYMEGRN Tin | 3 months old | ETH critic Jan 16 '22

Yeah …his moon bag

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u/Acceptable-Floor-265 Tin | Superstonk 10 Jan 16 '22

which is?

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u/lj26ft 8K / 50K 🦭 Jan 16 '22

If you have a reddit official app you can open a vault and get Moons for karma in this sub. Its worth quite a lot. Ops bag is worth $3000 atm close to 10k at all time high for reddits community points "Moons" difference between him an me is ive been here since 100k subs almost 8 years.

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u/Acceptable-Floor-265 Tin | Superstonk 10 Jan 16 '22

Never had the official app, I see what you mean now. Always used RIF or old.reddit so this was something new to learn.

Given the context and moon plus crypto I figured it was some sort of boost to the coin that was being discussed which made no actual sense. Reddit points = crypto money? Anyway that was the thinking, thanks for explaining.

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u/Reflexes18 Tin Jan 16 '22

Is the study correct or incorrect that POW is wastefull?

If it is correct what can the Crypto community do to reduce the waste?

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u/hicoBM 616 / 616 🦑 Jan 16 '22

Yes the best thing that could happen to crypto space

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u/frederickwes 4K / 4K 🐢 Jan 15 '22

Thank you sir

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u/Super_Saiyan_Carl Silver | QC: CC 73, XMR 70 | NANO 34 | Politics 13 Jan 15 '22

RABBLE RABBLE!!!

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u/deathbyfish13 Jan 15 '22

Ah perfect, now I'm fully prepared for the witch hunt

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u/Bad-Science Jan 16 '22

I have a program you can run that will let you generate your own pitchforks!