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Makes you wonder if it was all a pump and dump scheme to start accepting Bitcoin in the first place. Nothing changed between then and now in regards to energy u
by jb775 5y ago
Makes you wonder if it was all a pump and dump scheme to start accepting Bitcoin in the first place. Nothing changed between then and now in regards to energy use of Bitcoin. Completely legal tho, so maybe it's Elon's way of rubbing it in the SEC's face.
- antattack 5y agoAccording to chart[1] that Musk himself posted, Bitcoin electricity consumption skyrocketed since Tesla made the investment. [1]https://cbeci.org/ https://cbeci.org/
- rawtxapp 5y agoThose are estimated/annualized upper bounds.
- antattack 5y agoAnyway you look at it, Bitcoin is an energy hog: Bitcoin mining CO2 output is larger than American Airlines or 8.9 million cars: https://fortune.com/2021/05/13/musk-bitcoin-mining-bad-planet-heres-how-bad/?queryly=related_article https://fortune.com/2021/05/13/musk-bitcoin-mining-bad-plane...
- 3pt14159 5y agoI don't think so. Had Tesla sold more than 10% of their Bitcoin then sure, but as it stands right now they're still quite exposed to the currency and this new announcement by Musk, and his pivot to Dogecoin for SpaceX is much more likely to be a net-negative for their Bitcoin holdings. I did some Googling and I can't find whether or not Tesla holds any Dogecoin. I don't think so? All I can find is that Elon personally bought some Dogecoin for his child.