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Elon Musk’s tweet about Tesla now not taking any Bitcoin as payment for Tesla vehicles caused a significant dip in cryptocurrencies value.

It was only a few days ago that Musk announced that Tesla would not be taking any Bitcoin as payment for Tesla vehicles, citing the energy needed to mine Bitcoin. Musk said that Tesla still intends to use the currency for transactions “as soon as mining transitions to more sustainable energy“. Since Musk has halted Bitcoin payments to Tesla due to environmental concerns, Tesla is now looking towards other cryptocurrencies that use much less energy.

According to attorney, John E Deaton, Musk has handed “the best ad campaign” to Ripple’s (XRP) executives. Ripple CEO Brad Garlinghouse and other executives aren’t strangers to promoting how energy-efficient Ripple is, with Garlinghouse recently stating that XRP is 10,000 times more energy-efficient than Bitcoin. XRP isn’t the only energy-efficient cryptocurrency on the market. Other options include one of Musk’s personal favorites – Dogecoin.

For more information on this story, check out this link here.

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest news. Jak’s love for technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

(Excerpt) Read more Here | 2021-05-14 04:35:02

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