The idea behind this is that Elon Musk has seemingly tanked the market by criticizing Bitcoin's energy consumption.
And he is absolutely right about it. Bitcoin's energy consumption is like a completely new country on Earth. It is huge.
The idea behind this is that Elon Musk has seemingly tanked the market by criticizing Bitcoin's energy consumption.
And he is absolutely right about it. Bitcoin's energy consumption is like a completely new country on Earth. It is huge.
Focusing only on energy consumption doesn't give an accurate picture of what's actually happening. Energy from hydroelectric is either used or it's wasted. The Bitcoin miners using hydroelectric aren't building dams and forcing rivers to run harder, they're using energy that would otherwise be wasted.