Tag: elon musk

Bitcoin, Ether Cut Drop In Half After Musk’s “Diamond Hands” Tweet

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From ZH Summary: China reportedly launches widespread ban on crypto payments, warns of speculation Overall crypto market cap drops $1 trillion Ether down 40% at worst (rebounding strongly off $2000) Bitcoin down over $10,000 at worst (rebounding strongly off $30000) Crypto proxy stocks hammered Coinbase outages spark anger among traders Binance halts Ethereum withdrawals JPMorgan […]

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Proof-Of-Stake Coins Surge After Musk Trashes Power-Hungry Bitcoin

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From ZH In brief With Proof of Stake (POS), cryptocurrency miners can earn more crypto if they hold more coins. Proof of Stake (POS) was created as an alternative to Proof of Work (POW), which is the consensus algorithm that Bitcoin uses. Several coins that use alternative consensus algorithms to Bitcoin have increased in value. […]

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BITCOIN GREENWASHING: No, Bitcoin mining isn’t mostly powered by clean, renewable energy, but the cult-like self-delusion of Bitcoin apologists is itself a fascinating science experiment

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from naturalnews Elon Musk just ignited a firestorm of controversy when he announced Tesla would not longer accept Bitcoin due to the environmental concerns related to Bitcoin mining and its gargantuan energy consumption. The pro-Bitcoin community erupted in a fierce backlash, claiming that most of Bitcoin’s energy usage comes from renewables, and that the more […]

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