Yesterday, the CEO of Tesla announced that his company will start accepting Bitcoin again. This is if and when people who mine cryptocurrencies use enough clean energy to make it worth Tesla’s time.
People who want to use clean energy should use it more. Some people think that the number of people who can use clean energy should be 50%. Other people say that lots of Bitcoin is already made with renewable energy.
The question that the difference in the number of confirmations for Bitcoin bothers me is: “Is it possible to know how much of Bitcoin’s network is powered by renewable energy?”
It used to be hard to find out how much mining is using renewables. This is because the network is made up of many different people and it has been growing quickly in size.
Bitcoin is a type of currency. It can be used to buy things. But people worry about its energy usage. A Bitcoin Mining Council was created to make sure the public knows how much electricity it uses and why.
The mining industry is maturing and becoming more formal. More companies are also considering social responsibility when they make decisions. It is clear that this trend will continue to increase in the future.
Tesla is a car company. It took Bitcoin because people wanted to buy it. But now Tesla is stopping because the electricity costs are too high. The people who made Bitcoin also made a website where anyone can see what’s happening in it and how much energy it uses.