I Support Cryptocurrency, Not Crypto Mining – New York City Mayor, Eric Adams

Even though he rode to electoral victory on popular sentiment partly due to his pro crypto stance, Eric Adams, the new NYC mayor is under pressure not to support bitcoin mining due to high energy demand involved in the process.

The mayor of New York City, Eric Adams  says that he is more interested in cryptocurrencies such as Bitcoin than in the process through which they are produced. Adams, who is a known supporter of Bitcoin made the statement during a joint session of legislators of New York City on  Wednesday.

Even though he rode to victory on popular sentiment partly due to his enthusiasm about bitcoins also announced prior to assumption of office that he would accept his first three checks in bitcoins and ethereum.

Backing Environmentalists

However, Adams said that he is supporting environmentalists who have raised concerns over the high energy cost involved in the mining of Bitcoin.

His new position came after severe criticism from environmentalist who said that his decision and pledge to support mining of bitcoins was taken without due diligence, considering the environmental impact of the mining of cryptocurrencies.

Adams has been compelled to make his stance known to the legislators having initially planned to make the Apple Center a hub for the trading of digital currencies.

Energy Demand And Environmental Impact of Mining

Some environmentalists have complained about the environmental impact of the mining activities with respect to the production of bitcoins. In their opinion, the mining of bitcoin should not be supported, especially when there are alternative that are less energy intensive.

A Twitter user, GoldenFox expressed their view in like manner:

No one with a proper mind supports Bitcoin mining when there are lot better alternative options. If Ethereum can change to POS, so can Bitcoin. Idc if it’s renewable, don’t waste energy if you have the option not to waste it, while a high % of population can’t afford electricity.

Before he made the comment showing his disapproval for bitcoin mining, residents of a small community that hosts a gas plant used for mining of bitcoins have protested against the mining activities, complaining that it would release a large volume of carbon dioxide, thereby heating up the Seneca lake.

After the statement of the Mayor, the Seneca Lake Guardians, an environmentalist non-profit organization expressed relief and satisfaction on the decision of the mayor. The group’s president, Joseph Campbell said that they were put at rest by the new stance of the mayor.

 

Image Credit: Associated Press

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative review of projects with the aim to determine the authenticity of their claims.