Elon Musk’s Company Stopped the Bitcoin payment & Looking for those cryptocurrencies!

By Kailash Mina | The Crypto Time | 13 May 2021


Hey Everyone, welcomes back to My blog Crypto Times and Hopes you Guys are doing good. So Elon Musk’s company Stopped the Bitcoin payment & Maybe Looking at Cryptocurrency.

Before starting The Article, I say sorry for this short article. Let's Start


Elon Musk’s known as tesla CEO and in the crypto world knowns as DogeFather and Risk Taker. He is one of the billionaires who take an interest in cryptocurrency and invest a lot of money in cryptocurrency. His company was accepted payment in Bitcoin and Dogecoin. But today he tweeted that the Tesla company stopping the payment in the Bitcoin. And the reason for stop accepting bitcoin because of the Environmental Issue and told that they do not want to harm the environment.



Bitcoin

Bitcoin is the First cryptocurrency and the Most famous is the crypto world. People known bitcoin as a synonym of Cryptocurrency. But the Mining of Bitcoin affects the environment. Generally, Mining used Gas, petrol, electricity, etc which produce pollution and harm the environment. The annual consumption of energy by bitcoin is 147.79 terawatt per hour or TWh which is more than the annual consumption of electricity of Pakistan, Nepal, Bhutan, etc.

Bitcoin use 707 kWh per transaction and Ethereum use 69 kWh per transaction


Elon's musk looking for a cryptocurrency that uses less than 1% of bitcoin energy per transaction and Cryptocurrency that use less energy :

1. XRP- It consumes 0.0079 kWh per transaction
2. Dogecoin- Doge consumes 0.12 kWh per transaction. Second lowest power-consuming cryptocurrency.
3. Cardano (ADA) - ADA consume 0.5479 kWh per transaction
4. Litecoin: it consumes 18.5 kWh per transaction.
5. Bitcoin Cash: BCH consume 18.9 kWh per Transactions


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Kailash Mina
Kailash Mina

YouTuber, Artist, Student https://linktr.ee/kailashkumar


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