HomeCoinsBitcoin (BTC)Accepting Bitcoin Will Actually Benefit the Environment – Featured Bitcoin News

Accepting Bitcoin Will Actually Benefit the Environment – Featured Bitcoin News

- Advertisement -


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

Mark Cuban vs Elon Musk

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

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

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

Mark Cuban to Elon Musk: Accepting Bitcoin Will Actually Benefit the Environment

In his tweet to Musk, Cuban cited an article by The New York Times published back in 2005 that shed light on the gold mining industry based on the publication’s months-long examination, including tours of gold mines in the American West, Latin America, Africa, and Europe.

“Some metal mines, including gold mines, have become the near-equivalent of nuclear waste dumps that must be tended in perpetuity. Hard-rock mining 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 Cuban referred to was published by Moneyweek in January this year entitled “Bitcoin does consume a lot of energy — but here’s why it’s worth it.” The article points out that much of the energy bitcoin mining consumers is renewable, noting that half of the global bitcoin mining takes place in Sichuan, China, because of hydroelectricity.

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

In conclusion, Cuban further told Musk:

Shrinking big bank and coin usage will benefit society and the environment.

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

Tags in this story
benefit environment, cuban tesla, dallas maverics, Elon Musk, enrivonmental issues, Green, help environment, Mark Cuban, mark cuban bitcoin, mark cuban v elon musk, Replace Gold, tesla bitcoin

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





Source link

- Advertisement -
profile logo 500x500
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,495FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 43,387.00
ethereum
Ethereum (ETH) $ 3,035.19
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 515.28
litecoin
Litecoin (LTC) $ 152.25
eos
EOS (EOS) $ 4.01
okb
OKB (OKB) $ 13.12
tezos
Tezos (XTZ) $ 7.03
leo-token
LEO Token (LEO) $ 2.83
cardano
Cardano (ADA) $ 2.28
monero
Monero (XMR) $ 234.87
stellar
Stellar (XLM) $ 0.279653
chainlink
Chainlink (LINK) $ 24.82
huobi-token
Huobi Token (HT) $ 7.66
tron
TRON (TRX) $ 0.089088
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 163.99
neo
NEO (NEO) $ 38.75
iota
IOTA (MIOTA) $ 1.21
nem
NEM (XEM) $ 0.148174
zcash
Zcash (ZEC) $ 111.85
maker
Maker (MKR) $ 2,368.30
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 47.43
vechain
VeChain (VET) $ 0.092083
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 56.57
kucoin-shares
KuCoin Token (KCS) $ 10.56
waves
Waves (WAVES) $ 24.16