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Gerard Moore 14 / April / 22

Elon Musk returns to bitcoin!


Bitcoin and Musk
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As an argument for stopping payments in BTC, the growing use of fossil fuels in the mining of bitcoins was indicated. However, now everything indicates that the visionary intends to return to the topic.

Payments in BTC for Tesla cars

On March 24, 2021, the news of the day appeared on bithub: Tesla began accepting payments in bitcoin. This was a huge milestone for the adoption process of the most important cryptocurrency. Unfortunately, it quickly became clear that the decision was not well thought out. Concerns about the growing use of energy led to the fact that Tesla is suspending payments in bitcoin / BTC price falls below 50 000 USD.

Musk also announced that the company will look at cryptocurrencies with a smaller carbon footprint, and the restoration of payments in bitcoins can be thought of when most of the energy used by miners will come from renewable sources.

Tesla, Block and Blockstream will stand guard over clean energy

Tesla has partnered with Jack Dorsey's company Block (see also: Square changes name to block) and Blockstream, which has experience in creating BTC infrastructure. Their first joint venture is to create a bitcoin mine that will be completely independent of the energy grid. The mine is to be powered by solar energy, which will be obtained through photovoltaic cells developed by Tesla. The mine will be launched in Texas.

The joint venture was announced by Blockstream CEO Adam Back during the Bitcoin 2022 conference in Miami. He also added that creating solutions is better than arguing about things.

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