Economy

Tesla, Stop Bitcoin for Car Buying: Environmental damage is very high

After just 49 days, Elon Musk and Tesla retreat and dump Bitcoin As an alternative currency to allow their cars to be purchased (in the United States). Confirmation comes directly from A. Tweet de muskWhich states:

Tesla behold Pending vehicle purchases through the use of Bitcoin. we Worry On the rapid increase in use Fossil fuels for bitcoin mining and transactionsEspecially coal, which produces the worst emissions of any other fuel. “

Cryptocurrency is a good idea On many levels we believe it has a promising future, however It cannot materialize at a great cost to the environment. Tesla You will not sell any Bitcoins We intend to use it for transactions once mining turns to more sustainable energy. we too Shifting attention to other cryptocurrencies that use less than 1% of Bitcoin’s energy per transaction“.

In late March it was Tesla He bought Bitcoin with an investment of $ 1.5 billion To support their US customers’ purchases, but the immediate positive impact recorded in the first quarter is due to that Cryptocurrency sale at a value of $ 272 millionWith a net result of $ 102 million.

The topic of energy consumption for cryptocurrency mining He has a rhythm bank (e There are also those that stand out from the crowd). Bitcoin if it is based on an algorithm Proof of work Necessary to confirm transactions and produce new blocks in the blockchain: This is done through a process called mining and using computing power. The problem is that the appliances used must be powered, and in many countries, fossil fuels are being used to do so, exacerbating an already apparent climate change problem and frustrating the efforts of other productive sectors.

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Estimates have surfaced several times over the years comparing the electricity consumption needed to keep the “technology” (blockchain) behind Bitcoin up and running with that in various countries around the world: there are those who talk about Sweden and the Netherlands, but beyond the exact comparisons. Impact in terms of carbon dioxide and the problem of electronic waste They are clear to everyone.

This all goes In stark contrast to Tesla’s mission To accelerate the transition to more sustainable forms of energy, to the point where one wonders Why they didn’t think about it before: It’s not that the scenario has changed in just over a month.

All that remains now is to witness the developments: Several other facts have embraced Bitcoin payment, and others have specifically played the idea when paying Tesla. Elon Musk’s attitude (who was asking users on Twitter just a few days ago whether Tesla should accept payments in Dogecoin) could create a ripple effect, Distances far from Bitcoin in favor of environmental responsibility.

Finally, it remains to be understood What other cryptocurrency is Tesla pricing: In recent weeks there has been a lot of talk about Involved Like the green cryptocurrency, though the term According to some, it is not a perfect fit. Could it be a solution or does Musk have another trick up his sleeve?

Thelma Binder

"Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff."

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