Tesla suspends Bitcoin payments! Musk claims mining is not environmentally friendly, Dogecoin, Chia coin emerge in the spotlight

Tesla founder Elon Musk tweeted early in the morning on the 13th, stating that Tesla has suspended the option to pay with Bitcoin, causing Bitcoin to briefly drop to the $46,000 level, a decrease of nearly 15%.

Elon Musk's Tweet: Bitcoin Mining Consumes Fossil Fuels

Documents shared by Elon Musk show that Tesla has suspended the use of Bitcoin as a form of payment due to the rapid increase in the use of fossil fuels, especially coal, for Bitcoin mining and transactions, which has a significant impact on carbon emissions.

Tesla believes that cryptocurrency is beneficial in many ways and envisions a bright future for it, but not at the expense of the environment.

Tesla Will Not Sell Bitcoin and Seeks Energy-Efficient Cryptocurrency

Tesla also stated that they will not sell Bitcoin and hope to resume its use for payments once they find a cryptocurrency that is energy-efficient, with mining and transactions consuming only 1% of the energy used by Bitcoin.

Elon Musk Recently Polls Dogecoin Payments

On the 11th, Elon Musk posted a poll asking, "Do you want Tesla to accept Dogecoin payments?" With nearly four million votes, 78.2% of people were in favor.

The media outlet "Wu Blockchain" stated that an interesting situation arises now: Will Musk accept Dogecoin? Like Bitcoin, Dogecoin also operates on a proof-of-work mechanism that requires significant energy consumption, mostly run by miners in China. Additionally, Bitmain's founder Wu Jihan warned Chinese miners a month ago that mining energy in China is no longer environmentally friendly.

Dogecoin and Chia Coin Steal the Spotlight

The founder of Dogecoin responded at this time, saying "If there is a cryptocurrency with a lower carbon footprint than Bitcoin and a dog on it." Subsequently, netizens posted a chart of Dogecoin's energy consumption, implying that Dogecoin is more energy-efficient:

Another environmentally friendly cryptocurrency, Chia Coin, the founder Bram Cohen also commented: "If you care about environmental impact, you should sell Bitcoin to increase market supply, then prices, mining rewards, and energy consumption will all decrease." Beneath his tweet, netizens also supported that Chia Coin is more environmentally friendly.

Opposition to the Claims: Bitcoin is Environmentally Friendly

There are many who claim that Bitcoin's energy consumption is environmentally friendly. Here are some examples:

Michael Saylor, founder of MicroStrategy, a company that holds more Bitcoin than Tesla, stated: "Bitcoin's energy consumption is used to maintain network security, and the impact of fossil fuels will eventually diminish over time."

Lolli, a well-known e-commerce platform that rewards in Bitcoin, made a similar statement stating: "Musk simply does not understand that Bitcoin is mined using a large amount of renewable energy."

Renowned Bitcoin analyst PlanB responded to Musk's past tweets saying. Twitter founder Jack Dorsey once tweeted that Bitcoin is powered by renewable energy, a sentiment Musk agreed with in his tweet. PlanB believes that Musk has betrayed his original beliefs under government pressure.