Accepting Bitcoin Will Actually Benefit the Environment – Featured Bitcoin News


Shark Tank star and Dallas Mavericks NBA team owner Mark Cuban has argued that accepting cryptocurrencies, including bitcoin, will actually help the environment. He told Elon Musk, whose electric car company Tesla stopped accepting bitcoin, citing environmental problems.

Mark Cuban vs. Elon Musk

Billionaire entrepreneur and investor Mark Cuban has a message for Elon Musk after Tesla’s CEO announced that his electric car company has stopped accepting bitcoin for payments. Cuba tweeted Wednesday:

We at will continue to accept BTC/ETH/ DOGE because we know that replacing gold as a valuable store will help the environment.

Tesla cited environmental problems as the reason for the cessation of acceptance of bitcoin payment. “We are concerned about the rapidly growing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Tesla wrote.

Cuban Mark to Elon Musk: Accepting Bitcoin will actually benefit the Environment

In his tweet to Musk, Cuban quoted article of The New York Times published back in 2005, which sheds light on the gold industry based on the publication’s monthly review, including tours of gold mines in the U.S. West, Latin America, Africa and Europe.

“Some metal mines, including gold mines, have become almost equivalent to nuclear landfills, which must be maintained forever. Rock quarrying generates more toxic waste than any other industry in the United States, according to the Environmental Protection Agency. The agency estimated last year that the cost of cleaning up metal mines could reach $ 54 billion, ”the article details.

Another article A Cuban allusion was published by Moneyweek in January this year titled “Bitcoin does consume a lot of energy – but that’s why it’s worth it.” The article points out that much of the energy consumption of bitcoin mining is renewable, noting that half of global bitcoin mining takes place in Sichuan, China, due to hydropower.

“About 5% of Sichuan bitcoin mining power comes from nuclear or burning coal. 95% comes from renewable energy sources,” the article says. Moreover, Coinshares ’research found that the Bitcoin network gets 74% of its electricity from renewable sources.

In conclusion, Cuban further told Musk:

Decreasing use of large banks and currencies will benefit society and the environment.

Do you agree with Mark Cuban or Elon Muk? Let us know in the comments section below.

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