New York’s supposed pro-Bitcoin mayor Eric Adams said he supports cryptocurrency but not crypto mining, reports New York Post.
Adams made the comment unironically while testifying to the State Legislature regarding Governor Kathy Hochul’s 2023 budget.
Adams was asked a question about the environmental impact of mining crypto. It was his first appearance in front of New York’s legislative body as mayor.
The reply, “I support cryptocurrency, not crypto mining,” has reverberated across the internet. Environmentalists have welcomed the retort while others have pointed out its paradoxical nature.
In Proof-of-Work systems like Bitcoin, mining is the process that validates and secures a blockchain — you can’t have one without the other.
Bitcoin accused of boiling lakes in up-state New York
Adams’ comment could’ve been an attempt to appease up-state New Yorkers concerned that Bitcoin mining is causing one of their lakes to boil.
Greenidge Generation’s natural gas power plant was converted in 2019 to service a mining operation powered by 8,000 ASIC rigs.
However, locals say the plant is polluting the air and pumping the lake full of hot water. But luckily for the local flora and fauna, the situation isn’t so bad.
The Greenidge Bitcoin mine is only allowed to pump water comparable to 0.003% of the total volume of Seneca lake each day.
Some data suggests the amount of fish in the lake is reducing but it’s hard to prove that Bitcoin mining is to blame.
Responding to the mayor’s anti-crypto mining stance, Seneca Lake Guardian’s president Joseph Campbell said he was “relieved” Adams understands “the major threats that Bitcoin mining poses to New York State.”
“Bitcoin mining could cost New Yorkers millions of dollars in energy bills while kneecapping local businesses, poisoning our water, and filling our air with deadly CO2 emissions,” he said (via New York Post).
Greenidge’s chief exec Dale Irwin recently refuted claims that the plant is having a negative effect on the lake, the Post noted.
Not to mention, Adams’ pooh-poohing of crypto mining has implications for his proposed cryptocurrency issued by New York City (NYC).
The potential NYC Coin, like MiamiCoin and all other so-called “CityCoins,” would piggyback on Bitcoin’s network and its miners.
Again, you can’t have one without the other.
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