The cruel truth about the "green cryptocurrencies" of 2024

What a load of green garbage they are selling us! As I continue to review these so-called "eco-friendly cryptocurrencies", I can't help but laugh at the hypocrisy that floods this market. I'll share my personal experience with these projects that claim to save us from the climate apocalypse while emptying our pockets.

Bitcoin Verde: a $9.5 million hoax

It makes me angry to see how they sell this GBTC as if it were the salvation of the planet. "10,000 times more sustainable than Bitcoin," they say. Really? What they don't tell you is that there is a brutal marketing machine behind it to attract unsuspecting investors with promises of 199% APY. What a story! And the worst part is that people swallow it while they pocket millions with the presale.

Chia: the hipster of cryptocurrencies

Chia seems to me like another green scam. Yes, it consumes less electricity than Bitcoin, so what? What they are not saying is that its "proof of space and time" mechanism is causing a shortage of hard drives in some markets. Great! We solve one environmental problem by creating another. That 110% increase in June 2022 smells more like manipulation than technological merit.

Ethereum: the last-minute ecological conversion

After years of polluting with its PoW mechanism, Ethereum now wants to pretend to be eco-friendly with its switch to PoS. How convenient! Its 99.9% reduction in energy consumption sounds impressive until you realize they still consume what 46 American households do in a year. And what about all the mining equipment discarded after "the merge"? No one talks about that.

Solana: the green that falls

Solana boasting about being green while it falls more than a drunk on New Year's Eve. Its 65,000 TPS sound great in theory, but ask any user about the constant network failures. That said, they boast that a transaction uses less energy than three Google searches. What an achievement! And on top of that, they fund the "destruction of refrigerants" as if that compensates for anything.

Avalanche: green marketing at its peak

Another network that consumes less than 46 American households. Is this supposed to be impressive? What they don't mention is that its decentralization is questionable. AVAX has plummeted in recent months, but don't worry, at least it's green! As if that would comfort the investors who have lost their money.

Algorand and Cardano: green by design or by necessity

Both networks were born with more efficient mechanisms, not because their creators were saintly environmentalists, but because it was the only way to compete against the established giants. Now they sell it as a virtue when in reality it was their only viable option.

Polygon: the green face of Ethereum

What a masterstroke! First, you contribute to the environmental problem as a layer 2 of Ethereum and then invest 20 million in climate change projects to clean up your image. Buy carbon credits? The classic "pay to pollute" disguised as environmental consciousness.

The inconvenient truth

The real reason behind this green rush is not to save the planet, but marketing. When Bitcoin started receiving criticism for its energy consumption, all these projects saw the perfect opportunity to differentiate themselves. It is no coincidence that the Cambridge report on Bitcoin's consumption coincided with the boom of "green cryptos."

And you know what? I don't care that Ethereum issues 99.9% less than before if the system is still controlled by the same whales as always. Decentralization is an illusion as long as the validators are the same rich people as always.

While I laugh at these "green" projects, I also have to admit that at least they are trying to solve a real problem. But let's not kid ourselves: the main goal is still to make money, not to save trees.

The crypto market needs a real change, not just a layer of green paint to make us feel better while we speculate with these tokens. And if you think that you will invest in these coins and save the world at the same time, I have a bridge under construction that might interest you...