HalfofTheHalfofThe
  • Home
  • Technology
    • Reviews
    • Amazon
    • Apple
    • Cars
    • Facebook
    • Google
    • Mobile
    • Samsung
    • Tesla
    • Twitter
  • News
    • Sports
    • Amazon
    • Apple
    • Business
    • Cars
    • Entertainment
    • Facebook
    • Mobile
    • Samsung
    • Science
    • Tesla
    • Twitter
  • How To
    • Amazon
    • Apple
    • Cars
    • Facebook
    • Games
    • Google
    • Mobile
    • Samsung
    • Science
    • Tesla
    • Twitter
  • Business
  • Entertainment
  • Health
    • Pets
    • What
    • Why
  • Lifehacks
    • Explain
    • SmartHome
    • SocialMedia
  • More
    • Amazon
    • Apple
    • Cars
    • Facebook
    • Google
    • Mobile
    • Netflix
    • Twitter
    • Samsung
    • Tesla
Search
Technology
  • How To
  • Explain
  • Mobile
  • Lifehacks
  • News
  • Reviews
  • SmartHome
  • Technology
Information
  • About Us
  • Contact Us
  • Cookie Policy
  • Privacy Policy
  • Terms and Conditions
All content
  • Home
  • Technology
    • Reviews
    • Amazon
    • Apple
    • Cars
    • Facebook
    • Google
    • Mobile
    • Samsung
    • Tesla
    • Twitter
  • News
    • Sports
    • Amazon
    • Apple
    • Business
    • Cars
    • Entertainment
    • Facebook
    • Mobile
    • Samsung
    • Science
    • Tesla
    • Twitter
  • How To
    • Amazon
    • Apple
    • Cars
    • Facebook
    • Games
    • Google
    • Mobile
    • Samsung
    • Science
    • Tesla
    • Twitter
  • Business
  • Entertainment
  • Health
    • Pets
    • What
    • Why
  • Lifehacks
    • Explain
    • SmartHome
    • SocialMedia
  • More
    • Amazon
    • Apple
    • Cars
    • Facebook
    • Google
    • Mobile
    • Netflix
    • Twitter
    • Samsung
    • Tesla
  • About Us
  • Contact Us
  • Cookie Policy
  • Privacy Policy
  • Terms and Conditions
2022. All Rights Reserved by Halfofthe. “As an Amazon Associate we earn from qualifying purchases.”
Notification Show More
Aa
HalfofTheHalfofThe
Aa
  • How To
  • Explain
  • Mobile
  • Lifehacks
  • News
  • Reviews
  • SmartHome
  • Technology
Search
  • Home
  • Technology
    • Reviews
    • Amazon
    • Apple
    • Cars
    • Facebook
    • Google
    • Mobile
    • Samsung
    • Tesla
    • Twitter
  • News
    • Sports
    • Amazon
    • Apple
    • Business
    • Cars
    • Entertainment
    • Facebook
    • Mobile
    • Samsung
    • Science
    • Tesla
    • Twitter
  • How To
    • Amazon
    • Apple
    • Cars
    • Facebook
    • Games
    • Google
    • Mobile
    • Samsung
    • Science
    • Tesla
    • Twitter
  • Business
  • Entertainment
  • Health
    • Pets
    • What
    • Why
  • Lifehacks
    • Explain
    • SmartHome
    • SocialMedia
  • More
    • Amazon
    • Apple
    • Cars
    • Facebook
    • Google
    • Mobile
    • Netflix
    • Twitter
    • Samsung
    • Tesla
Follow US
  • About Us
  • Contact Us
  • Cookie Policy
  • Privacy Policy
  • Terms and Conditions
2022. All Rights Reserved by Halfofthe. “As an Amazon Associate we earn from qualifying purchases.”
HalfofThe > Blog > News > Tesla accepts Bitcoin as Payment very soon says Elon Musk
News

Tesla accepts Bitcoin as Payment very soon says Elon Musk

HalfofThe
Last updated: 2021/08/17 at 10:07 AM
By HalfofThe Published July 22, 2021
Share
3 Min Read
Tesla accepts Bitcoin as Payment very soon says Elon Musk
Tesla accepts Bitcoin as Payment very soon says Elon Musk
Tesla accepts Bitcoin as Payment very soon says Elon Musk

Tesla has once again changed their stance on bitcoin. Elon Musk, the founder of Tesla and SpaceX, announced during a Livestream that tesla would likely Tesla accepts bitcoin in the future. He said tesla dropped bitcoin because of concerns about environmental impact, but it now looks like tesla is focusing more on renewable energy sources, which would make accepting bitcoin much easier.

Elon Musk about when Tesla accepts Bitcoin?

“I wanted to do a bit more diligence to confirm that the percentage of renewable energy usage,” said Musk. “It turns out, it’s almost 100%,” he added. “Long-term, renewable energy is the cheapest form of power generation, but it takes time for this to change,” Musk said. “But as long as there is a conscious and determined effort by miners to move towards renewables, then Tesla will support that.”

“I might pump, but I don’t dump,” Musk said. “I definitely do not believe in getting the price high and then selling.” He added: “I would like to see bitcoin succeed.”

Tesla started accepting Bitcoin as a form of payment in March and later decided to withdraw that decision stating environmental concerns. Now, Elon Musk is considering again bringing back Bitcoin only if Bitcoin can be converted into renewable energy. “If I was purely financially motivated then, I would not express this reticence about bitcoin energy usage,” said Elon Musk.

Why does Bitcoin use so much energy?

Bitcoin is a digital currency that relies on data stored in the blockchain. Data storage requires energy to function, and bitcoin mining consumes about 30 TWh of electricity per year (about as much power as Denmark). Mining for Bitcoins can be done via high-powered servers which require more than half a megawatt each – they use an immense amount of power. This may not seem like an issue if you live in an area with relatively low electricity costs, such as China or India, but it could potentially become costly over time due to increased demand.

Once we find an alternative solution to overcome this energy usage, Tesla will start accepting Bitcoin. And, once Tesla starts accepting, it is believed that many other platforms will start to follow the same steps.

You Might Also Like

Samsung’s Galaxy S23 Ultra May Get Selfie Camera Upgrades

WhatsApp is Improving Image Quality with New Feature

Bank of America customers are missing Zelle Transactions

Why is my Microsoft Word background black?

Why is Apple moving to USB-C starting from iPhone 15?

TAGGED: bitcoin, elon musk, tesla accepting bitcoin
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp Reddit Telegram Email Copy Link Print
Avatar photo
By HalfofThe
Follow:
HalfofThe is an interactive media endeavour found in 2021 to put forward the latest technological advances in the industry and explain its impact on people. While we primarily cater to tech updates, we also get you all the recent updates from entertainment to sports. All our articles are curated after intense research through verified sources.
Previous Article Netflix Gaming service is not what people expected
Next Article Twitter Downvote and Upvote feature is coming soon Twitter Downvote and Upvote feature is coming soon

Updated Today

Effortlessly Adjust Font Size in Word: Quick Tips and Tricks
Effortlessly Adjust Font Size in Word: Quick Tips and Tricks
How To Microsoft Word document
Step-by-Step Guide: How to Easily Insert a Video into Your Word Document
Step-by-Step Guide: How to Easily Insert a Video into Your Word Document
How To Microsoft Word document
Step-by-Step Guide: How to Insert Page Numbers in Word Easily
Step-by-Step Guide: How to Insert Page Numbers in Word Easily
How To Microsoft Word document
Effortless Table Insertion: Quick Ways to Add Tables in Word
Effortless Table Insertion: Quick Ways to Add Tables in Word
How To Microsoft Word document

Trending

Learn how to use the Microsoft word document
Learn how to use the Microsoft word document
Explain Microsoft
Apple M1 VS M2 Comparison - Features and Specs
Apple M1 VS M2 Comparison – Features and Specs
Apple Mac
How to View Blurred Text on Websites?
How to View Blurred Text on Websites?
How To
Notify Anyway: What does it mean on iPhone?  
Notify Anyway: What does it mean on iPhone?  
What iPhone
Are smart door locks worth it?
Are smart door locks worth it?
SmartHome
How to Turn Off Open to Work Feature on LinkedIn?
How to Turn Off Open to Work Feature on LinkedIn?
How To

People Also Ask For

Samsung's Galaxy S23 Ultra May Get Selfie Camera Upgrades
News

Samsung’s Galaxy S23 Ultra May Get Selfie Camera Upgrades

Bobby Pulse Bobby Pulse January 23, 2023
WhatsApp is Improving Image Quality with New Feature
News

WhatsApp is Improving Image Quality with New Feature

Bobby Pulse Bobby Pulse January 23, 2023
Bank of America customers are missing Zelle Transactions
News

Bank of America customers are missing Zelle Transactions

Bobby Pulse Bobby Pulse January 18, 2023
Why is my Microsoft Word background black?
Why

Why is my Microsoft Word background black?

Bippin Bippin November 3, 2022
Why is Apple moving to USB-C starting from iPhone 15?
Why

Why is Apple moving to USB-C starting from iPhone 15?

Bippin Bippin November 1, 2022
Why Pixel 7 is a better deal than a Pixel 7 Pro?
Why

Why Pixel 7 is a better deal than a Pixel 7 Pro?

Bippin Bippin October 24, 2022
Can you plug a Tesla into a regular wall outlet?
Tesla

Can you plug a Tesla into a regular wall outlet?

Bippin Bippin October 20, 2022
What are the biggest complaints from owners of a Tesla car?
Tesla

What are the biggest complaints from owners of a Tesla car?

Bippin Bippin October 6, 2022
Apple buy Samsung
Why

Why doesn’t Apple buy Samsung?

Bippin Bippin September 29, 2022
Why is My iPad Not Charging From a computer?
Apple

Why is My iPad Not Charging From a computer?

Bippin Bippin September 26, 2022
How significant a threat is an Apple car to Tesla?
Apple

How significant a threat is an Apple car to Tesla?

Bippin Bippin September 23, 2022
News

Adobe Acquires Figma: UI & UX Design Tool that Rivals Adobe XD

Bobby Pulse Bobby Pulse September 15, 2022
Show More
HalfofTheHalfofThe
Follow US
2023. All Rights Reserved by Halfofthe. “As an Amazon Associate we earn from qualifying purchases.”
  • About Us
  • Contact Us
  • Cookie Policy
  • Privacy Policy
  • Terms and Conditions
Welcome Back!

Sign in to your account

Lost your password?