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Rising environmental cost of Bitcoin as Elon Musk backs away

Bitcoin is still down nearly 10% over the 24 HOURS since Elon Musk announced Tesla would no longer take cryptocurrency because of the environmental impact of mining it The price of Bitcoin is still down nearly 10 percent over a 24 hours period in the wake of Elon Musk s announcement about Tesla not accepting the crypto  Musk made an abrupt turn-about on Wednesday when he revealed Tesla will no longer accept Bitcoin as payment for his cars  His revelation saw the coin s price wipe off an estimated $365 billion from the entire cryptocurrency market at its lowest  Musk has insisted that Tesla, which invested $1.5B in Bitcoin in February, will not be selling any of it despite saying the coin would no longer be accepted 

Elon Musk is right: Bitcoin mining is bad for the planet Here s how bad

Elon Musk is right: Bitcoin mining is bad for the planet. Here’s how bad Fortune 5/13/2021 © Wire photography: Jakub Porzycki/NurPhoto via Getty Images Late on Wednesday, Elon Musk went back on his previous decision to let buyers pay for [hotlink]Tesla[/hotlink] cars using Bitcoin. His reason: mining the digital currency is causing a heavy toll on the environment. Popular Searches The Tesla CEO s reversal, made on [hotlink]Twitter[/hotlink], led to a steep fall in the value of Bitcoin, with over $365 billion in market value wiped off BTC at one point on Thursday. Cue outrage from Bitcoin bulls. “All of a sudden, he’s not so keen due to environmental concerns. But why now? fumed Nigel Green, CEO of the financial advisor, deVere Group, a noted cryptocurrency booster. Those issues surrounding the environmental impact have not come up in the last few months.

Elon Musk is right Bitcoin could erase Tesla s strides toward a carbon-free future

Elon Musk is right. Bitcoin could erase Tesla s strides toward a carbon-free future gkay@businessinsider.com (Grace Kay) © Business Insider Business Insider On Wednesday, Tesla suspended purchases of its cars with bitcoin. CEO Elon Musk cited the environmental impact of mining and trading on carbon emissions. Bitcoin has a growing carbon footprint and could soon become the 5th largest carbon dioxide emitter in the world. Tesla suspended vehicle purchases made using bitcoin this week, just three months after announcing plans to accept the cryptocurrency as payment. That might be for the best. CEO Elon Musk on Wednesday cited the environmental impact of bitcoin transactions for the electric automaker s decision to suspend the purchasing option.

The Green Knight Trailer: Watch Dev Patel Slay Monsters in A24 s Medieval Fantasy

The Green Knight Trailer: Watch Dev Patel Slay Monsters in A24 s Medieval Fantasy Antonio Ferme, provided by FacebookTwitterEmail A24 has released the first trailer for “The Green Knight,” a medieval fantasy with giants, talking foxes and a brave knight played by Dev Patel. Directed by David Lowery (“A Ghost Story,” “Pete’s Dragon”), the upcoming fantasy film will tell the story of Sir Gawain (Patel), King Arthur’s headstrong nephew and Knight of the Round Table, who embarks on a quest to confront the eponymous Green Knight (Ralph Ineson), a gigantic green-skinned stranger. More from Variety Based on the 14th-century poem “Sir Gawain and the Green Knight,” Gawain will come face-to-face with ghosts, giants, thieves and schemers, all while learning to define his own character and prove his worth in the eyes of his family and the kingdom.

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