Although the ability of cryptocurrency to create a lot of wealth has won praise and malice, critics of the entire trade group, especially climate change advocates, have strongly condemned the technology’s environmental impact.

Bitcoin’s energy consumption has become synonymous with the soaring base price of the currency. According to data from the University of Cambridge, Bitcoin mining consumes approximately 130 TWh of energy each year, which is approximately equal to the amount of energy used in Argentina.

Since November 2020, Bitcoin consumption has doubled as more miners compete for the rewards set by the blockchain network. But recently, the explosive growth of buying and selling digital currencies has made other networks the focus of carbon emissions.

According to Digiconomist, Ethereum consumes nearly 30 terawatt hours per year. This makes its network consumption comparable to countries such as Bahrain and Qatar. Like Bitcoin, Ethereum’s energy consumption is rising, and it doesn’t look like it will happen soon.

According to Digiconomist data, from the average hourly 8 terawatts in August 2020 to the current Ethereum network is now about 30twh, an increase of 275%.

In the next two years, the world is accelerating, and large companies and projects are developing ultra-low price plans for energy-saving blockchain networks, which can basically be kept on smartphones in principle. Currently, these projects are in the development stage and will be the subject of research in the next few years.

People just imagine digital currency, but as time goes by, imagination becomes reality.

Since Elon Musk got involved in the Bitcoin chain, it has changed the dynamics of businesses and investors. After Tesla bought Bitcoin and eventually fell, the price of Bitcoin rose.

But Elon continued to support Bitcoin, and his tweets did not stop, which also helped other investors to invest in Bitcoin. Through his latest tweet, the price of Bitcoin has been higher than expected.

People just imagine digital currency, but as time goes by, imagination becomes reality.

Since Elon Musk got involved in the Bitcoin chain, it has changed the dynamics of businesses and investors. After Tesla bought Bitcoin and eventually fell, the price of Bitcoin rose.

Source: CBNC
But Elon continued to support Bitcoin, and his tweets did not stop, which also helped other investors to invest in Bitcoin. Through his latest tweet, the price of Bitcoin has been higher than expected.

As CEO Elon Musk announced on Twitter a few hours ago, people can now buy Tesla ready to accept Bitcoin as a car payment.

From Card to Crypto

These are not just the CEO’s words, they are legitimate people, and they can find cryptocurrency methods and the usual card payment methods on the company’s official US website.

Elon Musk also authorized this cryptocurrency method, which is currently only available to U.S. citizens, and will be officially used in other countries later this year.