Tesla Says It Will No Longer Accept Bitcoin for Car Payments, Citing Fossil Fuel Concerns

crimsonaudio

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The stress that Bitcoin mining has put on the planet has become undeniable in recent years as the amount of energy required to mine the cryptocurrency has soared. According to the Cambridge Bitcoin Electricity Consumption Index, the currency’s energy use recently surpassed the annual footprint of Argentina. Around the world, countries are beginning to take note: In March, China’s Inner Mongolia province unveiled plans to halt all new bitcoin and other cryptocurrency mining ventures in order to reduce electricity consumption for its already beleaguered grid.
Tesla Says It Will No Longer Accept Bitcoin for Car Payments, Citing Fossil Fuel Concerns

 
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B1GTide

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"Bitcoin mining consumes about 148 terawatt-hours of energy annually, the Cambridge Centre for Alternative Finance estimates. That is more than Sweden uses in a year."
At some point the expense was worth it as we learned from the exercise. At this point it is simply a huge waste of resources.
 
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