Elon Musk and Jesse Powell, the CEO of Kraken, are currently not on good terms after Powell said that Bitcoin mining uses renewable or clean energy. And now, Tesla’s CEO decided to rebut his statement by asking him what data did he based his claim on.
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Engineer and tech entrepreneur Elon Musk of The Boring Company listens as Chicago Mayor Rahm Emanuel talks about constructing a high speed transit tunnel at Block 37 during a news conference on June 14, 2018 in Chicago, Illinois. Musk said he could create a 16-passenger vehicle to operate on a high-speed rail system that could get travelers to and from downtown Chicago and O’hare International Airport under twenty minutes, at speeds of over 100 miles per hour.
“Based on what data?” asked Elon Musk in his latest tweet.
His new post attracted a lot of fans and generated more than 8,800 likes, 260 quote tweets, and 800 retweets.
However, most of the fans are not on the side of Elon Musk.
“Did you know that a lightning transaction uses less energy than this tweet of yours wasted?” said one of the commentators.
Based on what data?
— Elon Musk, the 2nd (@elonmusk) June 17, 2021
“Do these people have nothing better to do than continue to argue with one of the most influential billionaires,” added another Twitter user in the comment section.
Elon Musk Still Rejects Powell’s Claim
According to Business Insider’s latest report, Tesla’s CEO said that Bitcoin mining is extremely environmentally damaging.
Elon Musk added that the reason behind this is that it uses an insane amount of energy for the computing work that creates new coins and secures the Bitcoin network.
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Elon Musk, CEO of Space Exploration Technologies Corp, speaks during a news conference at the National Press Club April 5, 2011 in Washington, DC. Elon Musk, CEO of Space Exploration Technologies Corp (SpaceX) and Tesla Motors, held the news conference to announce SpaceX’s Falcon Heavy rocket which could complete missions to the International Space Station and Moon and should be ready for use by the end of 2012.
Also Read: Elon Musk Tweets A Beautiful Photo of SpaceX’s Enormous Starship Rocket Booster
Because of this, Elon Musk decided to cancel its Tesla Bitcoin payment. Some critics said that it was a major U-turn from an individual company that greatly supported digital currencies.
Elon Musk’s opinions really have a great impact on the rising and falling value of various cryptocurrencies. This was shown when one of his tweets increased the value of the rising Dogecoin digital currency.
Is Bitcoin Mining Really Clean?
Smart Energy International reported that most digital currencies are generated using advanced computers and CPUs. Because of this, many people tend to consume a huge amount of electric energy.
Because of this, Cambridge’s Centre for Alternative Finance estimates the Bitcoin network’s current annualized electricity consumption totals about 145 TWh.
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Written by: Griffin Davis
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