Price of Bitcoin sinks after Musk says Tesla will no longer accept it

The price of tanked Wednesday after said Tesla will no longer accept the cryptocurrency, citing concerns about the use of fossil fuels for mining the coin.
CEO Musk tweeted Wednesday to say the electric car manufacturer 'has suspended vehicle purchases using Bitcoin'. 
Creating Bitcoins and other cryptocurrencies requires a lot of electricity, releasing massive amounts of greenhouse gases. 
The cryptocurrency is 'mined' by high-powered computers that continuously solve computational math puzzles, the complexity of which means the processors require huge amounts of energy.

With each solved problem, a certain amount of coin is produced.
While the machines use electricity, fossil fuel is a major category in electricity generation. 
Musk wrote: '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.' 
Bitcoin, the world's biggest digital currency, fell 15 per cent after the tweet. 
Elon Musk has said Tesla will no longer accept Bitcoin as a payment citing concerns about the amount of fossil fuels used to process the cryptocurrency
CEO Musk tweeted Wednesday to say the electric car manufacturer 'has suspended vehicle purchases using Bitcoin'
Bitcoin, the world's biggest digital currency, If you adored this short article and you would like to get more info relating to kindly see our website. fell nearly 15 per cent after the tweet
'We are also looking at other cryptocurrencies that use <1% of bitcoin's energy/transaction,' Musk said.
Musk said in March Tesla customers can buy its electric vehicles with bitcoin, jumping up the price of the currency.
But on Wednesday he tweeted: 'Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment. 
'Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy.' 
Tesla said in a February with the Securities and binary experts platinum club egypt Exchange Commission (SEC) that it had bought $1.5 billion (£1.16 billion) worth of Bitcoin and would soon accept it as a form of payment for cars.   

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Pictured: A graph showing the amount of energy in terawatt hours (TWh) consumed by tech giants, electric vehicles and Bitcoin mining (lower, central and upper bounds).

The bar second from right shows the current annual bitcoin consumption, that on March 3 was at a rate of 130.9 terawatt hours (TWh), roughly the same as New Zealand and Argentina 
Pictured: A graph showing data from the Cambridge Bitcoin Electricity Consumption Index (CBECI) that shows the energy consumed by Bitcoin. Consumption increased to its highest ever levels towards the end of last year, with the rates continuing to rise into 2021. The CBECI calculates Bitcoin's total energy consumption is currently between 40 and 445 annualised terawatt hours (TWh), with a central estimate (yellow line) of about 130 TWh
Pictured: The data centre of BitRiver company providing services for cryptocurrency mining in the city of Bratsk in Irkutsk Region, Russia March 2, 2021. The cryptocurrency is 'mined' by high-powered computers that solve computational maths puzzles, the complexity of which require huge amounts of energy
Microsoft co-founder Bill Gates has already highlighted the negative impact mining Bitcoin has on the environment.

'Bitcoin uses more electricity per transaction than any other method known to mankind,' Gates said, 'It's not a great climate thing.' 
A  published in Nature found huge farms of computers used to mine Bitcoin could produce enough greenhouse gases to raise global temperatures 3.6°F (2°C) in less than three decades. 
Studies have also shown that the annual carbon emissions from the electricity generated to mine and process the cryptocurrency is equal to the amount emitted by whole countries, including New Zealand and Argentina.   
Bitcoin mining's energy consumption also eclipses that of the world's major tech companies that provide entertainment services, including the streaming giant Netflix as well as Apple, - Facebook, Microsoft and Google combined - all of which also require huge amounts of energy to run their services.
By comparison, Google - the largest energy consumer of the tech giants - used 10 TWh in 2019.

On March 13, Bitcoin was using 130.9 TWh (annualized). The UK's electricity consumption is slightly more than 300 TWh a year.       
Bitcoin, the world's most popular cryptocurrency, was launched back in 2009.
It hit the headlines in 2017 after soaring from less than $1,000 in January (£815 at the time) to almost $20,000 in December (£15,000 at the time) of that year.
The virtual bubble then burst in subsequent days, with bitcoin's value fluctuating wildly before sinking below $5,000 (£3,800) by October 2018.
However the last year's rise has been more steady, with investors and Wall Street finance giants wooed by dizzying growth, the opportunity for profit and asset diversification, and a safe store of value to guard against inflation.

Tesla said in a February filing with the Securities and Exchange Commission (SEC) that it had bought $1.5 billion (£1.16 billion) worth of Bitcoin and would soon accept it as a form of payment for cars 
Bitcoin passed the $60,000 (£49,000) mark for the first time on March 13, reaching a record high of nearly $62,000 (£50,000).  
Major companies already accepting Bitcoin - like Microsoft, Wikipedia and AT&T - typically use specialist payment processors that convert the cryptocurrency into traditional currency and send the sum to the company. 

Bitcoins are traded via a decentralized registry system known as a blockchain, and found by so-called Bitcoin 'miners', who enable new Bitcoins to be created, but also to independently verify and record every transaction made with the currency.
More accurately, Bitcoins are the reward miners get for maintaining the transaction record accurately.
The mining works like a lottery that runs every ten minutes, with processing centers around the world racing to compile and submit this record of transactions in a way that is accepted by the system.
They also guess a random number, with the first to submit and record the correct number the winner of the prize, with this becoming the next block in the blockchain. -


Married At First Sight Australia&apos;s Mick Gould becomes a SEX SYMBOL

He raised a few eyebrows with his mullet hairstyle and handlebar moustache. 
But it's fair to say that Australia star's Mick Gould, 33, has been branded something of an unlikely sex symbol following his appearance on the show. 
The handsome 6ft 5" plasterer and farmer, who lost half a finger while building a fence, is famed for saying 'flamin' galah', and married Jessika Power, 28, in the show. 
'Straight out of a 70s cowboy porno!' Married At First Sight Australia's Mick Gould has become an unlikely SEX SYMBOL as 'bloody gorgeous' farmer brings back the mullet and moustache
Nothing wrong here: Mick took a visit to the barber's and had a mullet and moustache to 'annoy the missus' after marrying Jessika Power on the cult reality show 
And while MailOnline won't be giving any spoilers as to whether or not the union lasted, fans across the world would love to walk down the aisle with him. 

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Viewers branded him a 'legend' and 'straight out of a 70s cowboy porno' after he took a visit to the barber's and had a mullet and moustache to 'annoy the missus.' 
And co-stars Nick Furphy and Mike Gunner both sported tashes during the show in homage to their friendship. 
Flamin' galah!

6ft 5" farmer and plasterer Mick as branded a 'legend' for his loud shirts, hilarious sayings, facial hair and his love of work boots 
Fans wrote on his social media: 'Bloody gorgeous!' and 'Bring back the stash!' as they heaped praise on the love god 
Fans have written on Mick's social media: 'Is anyone else seeing this guy like I am..

straight out of a 70s cowboy porno.'
'You're a legend! Fav guy on the show!'
'Bloody gorgeous!' and 'Bring back the stash! If you liked this post and you would like to obtain far more data pertaining to kindly pay a visit to the website. ' 
'I actually like the new look, suits u that hair cut.' 
Get the man a calendar shoot: Mick started off the show with designer stubble and a trim hairstyle, but those rugged good looks remained (as did the loud shirts) 

He was left red-faced at his wedding when his best man gave an inappropriate wedding speech which referenced Viagra. Pictured left, Jessika Power
'You actually really suit this look haha @mick_gould86.'
The show first aired in Australia in 2019 and has now come to the UK and Mick revealed what really happened to his missing finger.  

The down to earth guy from Queensland joked that he was attacked by a dingo while camping before explaining what really happened.
Oh, Mick!

The show first aired in Australia in 2019 and has now come to the UK and Mick revealed what really happened to his missing finger - he hit it with a hammer
'I went camping on Fraser Island, and we were cooking up a bit of a feed before going to bed one night,' he jokingly told 9Honey back in 2019.  

I had a bit of a sausage in me hand and I fell over and passed out, and binary magnet one of the dingos come along and bloody chomped on it and bit it.' 
He went on to explain that the accident actually occurred while he was at home. 
He said: 'I was fencing at me house actually and it was on a star picket...

I'm having a bit of a whack down - as I've pulled up she started to go a bit so I grabbed it... it was like a banana getting hit by a hammer and [shooting] out the sides. - He loves his meat: Mick is a farmer and plasterer and loves to be in the great outdoors 


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