Elon Musk says Bitcoin may have already hit his benchmark on renewable energy
"I want to do a little more diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend towards increasing that number," said the Tesla CEO. Tesla CEO Elon Musk has hinted that the crypto industry is on its way toward greener future, but Tesla won’t be accepting Bitcoin payments just yet.Speaking at "The ₿ Word" — a virtual Bitcoin (BTC) event with Twitter CEO Jack Dorsey, Ark Invest’s Cathie Wood and moderator Steve Lee from Square Crypto — Musk said that Tesla would “most likely” consider resuming crypto payments for its....
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According to a statement made by the tesla CEO, Bitcoin may have hit 50% in its consumption of renewable energy or beyond the number. Musk believes that the crypto industry is approaching a greener future, which will push it higher. However, he insisted that Tesla won’t accept Bitcoin payment yet. Related Reading | Nuggets CEO […]
On Sunday, Tesla’s CEO Elon Musk tweeted that when there’s “confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.” Elon Musk And The Green Energy Debate These days, Elon Musk and a slew of other billionaires have a lot to say, and it appears that […]
Bitcoin mining energy consumption has been one of the most addressed issues in the crypto space. Concerns over its energy consumption and environmental impact had been reasons cited during the China crackdown that saw miners exit out of the region en masse. The once bitcoin mining capital of the world had seen its hashrate crumble to zero following this move. Automotive manufacturer Tesla had also cited the same reasons when it had removed BTC payments option for its electric vehicles after implementing barely two months earlier. According to CEO Elon Musk, the EV manufacturer planned on....
Bitcoin is not responsible for dirty energy — people are. But Elon Musk is now responsible for Dogecoin. Elon Musk is definitely interested in digital currency, but it seems that he doesn’t want to understand it. At least, I worry that he doesn't have a deep enough understanding of Bitcoin (BTC) and decentralized systems in general.A decentralized system has to be secure, and proof-of-work (PoW) is the solution for Bitcoin to secure its digital asset. The more successful Bitcoin is, the more energy is required for PoW to secure the network. In other words, the reason that Bitcoin uses up....
Elon Musk and Michael Saylor attended a private meeting with North American bitcoin miners to propel renewable energy use.