Justin Sun now Agrees with Elon Musk on the Environment-Related Issue of Bitcoin
The CEO of the Tron, Justin Sun, is among those who did cash this recent Bitcoin crash as an opportunity and got himself a bunch of Bitcoin at a shaken price. He was so excited about it that he even put it out online using his Twitter account, another win for Bitcoin’s proponents, right? Well, the victory here is only short-lived. After predicting that the bull run will be joining Bitcoin once again in either the early July or August of 2021 and showing his new Bitcoin buy to the rest of the world, Justin now has some concerns about the flagship cryptocurrency, Bitcoin.
Bitcoin Community should Seriously think about Bringing Reforms to its Mining Model
He seems to be agreeing with Elon Musk on the carbon footprint of Bitcoin mining and its deadly effects on nature. Elon Musk started this fiasco back in the day, not thinking through things, and it did lead to a full-scale crypto market crash that still has its after-effects, and no cryptocurrency is fully out of the repercussions just yet. Musk announced back in the day that Bitcoin’s mining is a serious threat to the environment considering the use of fossil fuels such as coal and the smoke and carbon produced as a result. Musk also cut all of his ties with the cryptocurrency until it is clear with managing its carbon footprint at a better note.
Unlike Musk, Justin has kept any advice or hint at urging people not to engage with Bitcoin anymore or anything that is not very subtle completely to himself. In a recent interview, he said that Musk’s opinion regarding the proof of work consensus algorithm has many flaws, and the crypto market should strive towards other greener options. He also discussed the merits of the proof of stake consensus algorithm and how it is every part more efficient than the previous version of this algorithm Bitcoin is currently using. It might not mean more downfall for Bitcoin but joining hands of the crypto communities to look for a better and greener solution as it has now been highlighted by a multitude of financial experts and traders.