—Read Here— “Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment,” Musk said citing immense amount of fossil fuels being used on BTC mining.
Musk conceded that Tesla would take Bitcoin if mining moved towards more sustainable power sources, but this is next to impossible as Bitcoin is an open protocol that can’t be changed and most miners are cooperate mining super farms that will only move to sustainable energy if and when it’s profitable.
Upon a second, look Bitcoin transactions do cost an immense amount of power. According to a second article from Forbs “a single bitcoin transaction uses roughly 707.6 kilowatt-hours of electrical energy–equivalent to the power consumed by an average U.S. household over 24 days, according to Digiconomist.”
Myriad Media 