Tesla May Accept Bitcoin Once Crypto Mining Makes Green Shift

rpm

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Tesla May Accept Bitcoin Once Crypto Mining Makes Green Shift

Elon Musk, the billionaire head of Tesla Inc., said Bitcoin mining is “shifting towards renewable energy” and his company will likely resume accepting the cryptocurrency as payment for its electric cars.

Tesla suspended purchases using Bitcoin in May on concerns about fossil fuel use in mining, triggering a slide in the digital currency.
 

Little Mac

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Unless the algorithm changes, I'm not sure BTC will ever really be green... it's always going to reward the higher hash rate. Perhaps when all are minted the rewards will drop to the point that only the desperate or those with a stake will actually mine?
 

grok

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Musk should introduce Mars Mining, use another planet's resources to generate coin, gives more incentive to both the whole mars expedition and green bitcoin shebang..
 

NarrowBandFtw

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what he actually said was not "may accept", he said "will accept" when ±50% of BTC mining is powered by green energy, he also said he reckons it is now more or less around 50%, but they'll need to do an assessment to satisfy themselves on that point before accepting BTC again

all of which should be immaterial seeing as Tesla sales in BTC will never be a big number anyway, but we don't live in a rational world sadly
 

Praemon

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Unless the algorithm changes, I'm not sure BTC will ever really be green... it's always going to reward the higher hash rate. Perhaps when all are minted the rewards will drop to the point that only the desperate or those with a stake will actually mine?

Yeah. Eth seems to be going in the right direction. I guess the only hope for BTC is that the majority of mining is done via renewables - that achieves the same thing, even if it's still power intensive.
 
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