Bitcoin miners energy usage has exceeded 50%, where is Elon?

[bbc.reporter]

This is only according to an analyst from Bloomberg. However, if this is confirmed real information then the question from the community should be will cousin Elon support his statement and begin accepting bitcoin payments in Tesla again?

Tesla also should start buying again hehehe.



The Bitcoin network, with its continually increasing hash rate, has seen a corresponding decrease in its emissions intensity, according to recent reports from Bloomberg. Analyst Jamie Coutts explained that this trend is contrary to most other industries and could potentially trigger the next wave of institutional investment.

Data cited by Coutts on Monday revealed that the sustainable energy mix for Bitcoin has been steadily rising since 2021 and now exceeds 50%. This increase in sustainable energy use has resulted in a slower growth of emissions relative to the network's expansion. Coutts noted that the evolving relationship between Bitcoin network growth and the global push to transition from fossil fuels could "catalyze a wave of institutional and even sovereign investment capital."

Read in full https://finance.yahoo.com/news/bitcoins-sustainable-energy-mix-surpasses-060305672.html

[mk4]

If he's a man of his word, just give it time. I'm pretty sure Elon Musk is not the type of guy to watch Bitcoin hashrate actively and is updated with news like this, or Bitcoin-related news in general.

Or maybe he's going to make some excuse like the data isn't accurate lmao.

[Dave1]

This is only according to an analyst from Bloomberg. However, if this is confirmed real information then the question from the community should be will cousin Elon support his statement and begin accepting bitcoin payments in Tesla again?

Tesla also should start buying again hehehe.

I guess it's obvious that Elon Musk just used Bitcoin as his clout for his company during our the last bull run. Take advantage of it and then later sells their stash to take over Twitter, now X.

And it's not rocket science though, we have our own thread here: by @fillippone, Debunking the "Bitcoin is an environmental disaster" argument.

And I doubt that this whole sustainable energy mix for bitcoin will be the next narrative for the next bull. It might be the whole "Bitcoin Spot ETF approvals" in the future that we might see waves of institutional investor pouring their money in the market. Or even rich oil money from Middle East could also be possible.

[Mia Chloe]

This is only according to an analyst from Bloomberg. However, if this is confirmed real information then the question from the community should be will cousin Elon support his statement and begin accepting bitcoin payments in Tesla again?

Tesla also should start buying again hehehe.



The Bitcoin network, with its continually increasing hash rate, has seen a corresponding decrease in its emissions intensity, according to recent reports from Bloomberg. Analyst Jamie Coutts explained that this trend is contrary to most other industries and could potentially trigger the next wave of institutional investment.

Data cited by Coutts on Monday revealed that the sustainable energy mix for Bitcoin has been steadily rising since 2021 and now exceeds 50%. This increase in sustainable energy use has resulted in a slower growth of emissions relative to the network's expansion. Coutts noted that the evolving relationship between Bitcoin network growth and the global push to transition from fossil fuels could "catalyze a wave of institutional and even sovereign investment capital."

Read in full https://finance.yahoo.com/news/bitcoins-sustainable-energy-mix-surpasses-060305672.html

As a matter of fact the entire scheme of if to accept Bitcoin or not is a profit based one.with Bitcoin being volatile digital asset, Elon will definitely estimate his chances of profit or loss if he adopts Bitcoin for purchases and if these odds according to his thesis will not yield profit he will not accept Bitcoin.

[Darker45]

I don't know if Elon cares. Or should we care whether he cares or not? Or it's perhaps better if Elon leaves Bitcoin alone.

It seems that all these calls on Elon Musk to take a look at Bitcoin mining's energy usage once again and reconsider accepting Bitcoin payment once more for Tesla or even reinvestment on Bitcoin are merely subtle ways of begging, "come on Elon please, push the price up!" It might not be about adoption or whatever.

There were negative remarks made against Elon just as there were against Buffet and Bill Gates and others who prefer not to shill for Bitcoin. Sometimes, they seem nothing more than bitter attacks against rich personalities whose money won't bring Bitcoin's price higher.

[mindrust]

Fuck this cunt. Bitcoin don’t need Elon’s money. Elon needs bitcoin. He may not need it now but when the whole world adopts it, he won’t have a choice. However, Elon is not dumb too. He will probably buy btc before the mass adoption happens. Actually he probably already has thousands of coins in his personal stash and since he doesn’t have to declare it to the public, we will never know the truth. One way or another, Elon is pretty insignificant in the grand scheme of things. If he wants to get piece from the action that’s fine but if he doesn’t, he may duck right off.

[digaran]

Last time I remember someone named John Mcafee claimed to do something rarely seen by any living human being, I don't know if he managed to do that? Lol.
One thing about rich people you should know, they would never do anything to endanger their wealth, in fact all they do is making sure to increase their wealth and get richer.

Do you think someone like Musk, talk about stuff randomly with no agenda? He already knows all the analysis data about bitcoin energy usage for the next 10 years, so when he promises you something it's because he has a plan to make more money for himself!

[Woodie]

As much as Elon is advocating for cleaner green energy from the crypto energy, this isn't only about bitcoin getting onboard but looking at the use of sustainable energy so that the next generation doesn't suffer because the damage to our environment is extensive.

And btw, this carbon emissions/sustainable energy fight is one sided...Elon Musk's EVs are the culprits for this knowing very well electricity generation has a Carbon footprint trail and with increased production and use of these vehicles means more damage done to our environment and the man needs to walk the talk.

Otherwise, Elon being the type that loves the controversy am pretty sure he will oblige to accept BTC payments with his companies.

[OcTradism]

Bitcoin is here since 2009 and where was Elon Musk in 2009 and a few years later?

He was not in Bitcoin community until the last bull run since 2020 or a bit sooner but he observed Bitcoin silently. He made noise in the last bull run but his love is not only for Bitcoin, but Dogecoin and more related to money. He loves money, what can help Elon making more money, he loves it.

Elon is also very chaotic with his mind and he does not care what the crowd talk about him. Expecting Elon to come back and response about what he said in the past is unrealistic and even he come back, answer, it will be just non sense answer.

[avikz]

Elon is a businessman at heart. I understand that he takes whimsical decisions at times but he understands business. So he won't do any such things that could potentially hurt Tesla. Accepting Bitcoin as a payment method has a downside to it due to extreme price volatility and that's a huge risk. Is he ready to accept the risk - that's the question!

Let's hope he delivers on his promise! But I don't see this happening anytime soon. It requires a lot of changes in Tesla if they prepare themselves to accept Bitcoin as a payment method.

[CryptoHeadlineNews]

This is only according to an analyst from Bloomberg. However, if this is confirmed real information then the question from the community should be will cousin Elon support his statement and begin accepting bitcoin payments in Tesla again?

Tesla also should start buying again hehehe.

This was the very statement made by Elon Musk 2years today about his decision to stopping the use of Bitcoin for an alternative emission free cryptocurrency for buying of his Tesla motors due to the negative effect of fossil fuel used by Bitcoin miners on the environment. So if this news happens to be true that Bitcoin now uses a more cleaner and safer energy source for mining Bitcoin (i.e. use of Solar energy & wind). Then, i see no reason why he @ Elon Musk would decline to accept BTC for the second time, even though he is known to be the godfather of Dogecoin & meme tokens.

[stompix]

Why would Elon even care?
I love how we have 100 topics about this but nobody actually reads the article, because the title is enough, right?

The Bitcoin network, with its continually increasing hash rate, has seen a corresponding decrease in its emissions intensity, according to recent reports from Bloomberg. Analyst Jamie Coutts explained that this trend is contrary to most other industries and could potentially trigger the next wave of institutional investment.

So it's an analyst expressing his opinion, there is no real data, just claims based on other people's claims!

Kind of ironic how everyone can get excited about this when just the other week we had this:
A crypto-mining company in Pennsylvania is seeking to burn tires to produce bitcoin, prompting an outcry from residents and environmental groups.

If the so-called Bitcoin mining council would really wanted to prove they used 50% renewable they would have done a simple thing, talk bout this this:
https://www.warren.senate.gov/imo/media/doc/Seven%20Cryptominers%20Responses%20to%20Senator%20Warren.pdf

Stronghold:

Through the first three quarters of 2021, Scrubgrass emitted 412,445 tons of CO2 and produced
243,068 MWh of power. The final 2021 numbers for Scrubgrass are not yet available. Panther Creek
emitted approximately 203,109 tons of CO2 in 2021 and produced 146,783 MWh of power in 2021. As
discussed above, we are actively pursuing a variety of mechanisms to mitigate our carbon emission output.
Our 2021 emissions data is still preliminary but our final figures will be reported in accordance with
regulatory requirements.

The cumulative estimated metric tons of CO2 produced by the Facilities to supply this power required for Bitcoin operations is 1,284,360.

Greenidge

In connection with Requests 1 and 2, the Dresden facility is permitted to emit up to
641,878 tons of CO2e on a rolling twelve-month basis.

The others didn't want to mention it are claimed they are just busing energy provided by the grid and!

So, in a letter addressed to a US Senator, not a single member showed any proof of mining directly with renewables, all the renewable energy comes from the grid, so it would be simply stupid at this point to call an industry greener than another when they are consuming the same thing.

Elon is stupid cunt but this greenwashing must also stop!

[pakhitheboss]

I agree he has the proven capability of influencing the crypto market, if he honors his word then the current market condition will change. We can only wait and watch when Tesla will start accepting Bitcoin. If he is bluffing then the Bitcoin community would look like fools who were begging him to accept Bitcoin.

He is also a businessman and a good one, he will look into the current scenario before taking any decision. The positive outcome of this news would be that Bitcoin emission is going down and the hash rate is increasing. A piece of positive news now might trigger a short-term bull run before the halving.

[traderethereum]

Let's wait and see what Elon says after he reads information from analysts from Bloomberg.
But I doubt that Elon will return to supporting bitcoin and start accepting bitcoin payments again, especially since we know that he always easily replaces his statements.
However, if he does receive bitcoin payments again, is he prepared for the current fluctuations in bitcoin prices?
If he really wants to collect more bitcoins from sales, he can return to accepting bitcoin payments and not care about bitcoin price fluctuations.
Besides, it seems that Elon is now relaxing and enjoying his weekend by playing poker

[riantolie]

That's a good question, but not the right place to ask. I hope he will be true to his words, even tho I'm not gonna spend my BTC there ( I simply don't have enough ).

[franky1]

Elons public announcements were done to deflect peoples attention. he did not want to be accused of inciting pumps in a market due to favouring bitcoin, whilst secretly he does and always has favoured it

the thing is he "emissions" commandments were empty of content because on a percentage bases. DOGE (the other coin he mentions) uses more % of fossil fuel based energy than bitcoin ever did

DOGE is based on home hobby mining where residents have no control of their energy sourcing. people do not move home just to mine a meme coin. however even as far back as 2013 many ASIC farms purposefully choose locations to start ASIC farm mining bitcoin due to the energy source reasons

[Sayeds56]

This is indeed promising news and as an advocate for EnvirOmint protection, I am delighted to learn it. I hope that the trend towards Bitcoin miners using renewable energy sources continue to grow, further reducing environmental impact of cryptocurrencies mining. Regarding pledge of Elon Musk to purchase Bitcoin once renewable energy usage exceeds 50% mark, we are all looking for his actions to validate his commitment. Historically his involvement in crypto industry has led to market fluctuation, and his exit from positions, raising questions about sincerity of his intentions.

[Blitzboy]

I find it interesting, and maybe even suspicious, that this "revelation" from Bloomberg is coming out now. Given how quickly things change in the modern economy, its hard not to wonder why this data was released and what it was meant to do. Analyst Jamie Coutts might seem to paint a bright picture of Bitcoin's future, but we should be careful.

Could this be a cover for bigger players in the background who are quietly pulling the strings and changing how people see things? Many people were surprised when Elon Musk tried to get into the Bitcoin market before and then quickly left. If Tesla jumps back on the train, it could be part of a larger, more complicated game. My advice is to doubt everything, especially if it sounds too good to be true.

[Fivestar4everMVP]

I don't know, but I personally feel that bitcoin doesn't need Elon or tesla to succeed, and neither does it need any of these two to trigger the next bull run.

Even if bitcoin sustainable energy increases by 100 percent, we don't need Elon or tesla to start accepting bitcoin to make bitcoin grow again, after all, since several months ego Elon announced that tesla will stop accepting bitcoin for tesla purchases, bitcoin after dropping for a while have continued to grow, this means that, the future or bitcoin is not in the hands of one man or one company.

[hZti]

Mr. Musk should stay away from Bitcoin as long as he does not understand it. Bitcoin is not a marketing tool for rich idiots.