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Elon Musk is not convinced that Bitcoin's energy consumption is "green"



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Elon Musk has once again weighed in on the discussion about Bitcoin's power consumption.

This time he was directly lured into the CEO of cryptocurrency exchange Kraken, Jesse Powell, who stated during an interview that Bitcoin is "greener" than critics claim.

Powell then added:

"I think Elon has to study more."

Elon Musk's direct response came via Twitter. The CEO of Tesla asked Powell on the basis of what concrete data he could affirm this.

Elon Musk and the energy consumption of Bitcoin

In fact, it has been speculated for some time that around 70% of the electricity consumed by Bitcoin mining comes from renewable sources, but there is no concrete evidence that this is the case. In fact, there are other estimates that state that this "green" consumption is actually well below 50%.

So while Powell seems to support this hypothesis, Musk is skeptical, precisely because there is no concrete and indisputable evidence support it.

A few days ago, when Musk himself said that Tesla could once again accept bitcoin as a payment method, he also stated that this will only be possible when it is confirmed that at least 50% of the energy used by miners is clean.

So far there is no such confirmation, because there are only estimates that are not supported by hard evidence.

Therefore, Musk has not questioned Powell's claims, but has questioned whether they can be considered true.

In other words, you may find it conceivable that today Bitcoin's energy consumption has a not particularly serious environmental impactBut since you can't say for sure, you don't feel like relying solely on estimates that, in theory, might as well. be wrong.

It must be said that it is much easier to obtain similar data for countries where freedom of expression is more widespread, while it is less so in countries such as China, one of the world centers of Bitcoin mining, where freedom of expression is not. this. they really exist. Therefore, it could be particularly difficult to meet Elon Musk's demands in this regard, unless mining activities in China are greatly reduced.


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