Elon Musk said Sunday that he doesn’t believe bitcoin is decentralized, as much of the mining is concentrated in very few hands. Ever since Tesla’s CEO said last week that his electric vehicle company would no longer settle for bitcoin bills for environmental reasons, cryptocurrency enthusiasts. they’re dissatisfied with it, and Musk has added fuel to the fire.
After being called up for his bitcoin complaint and his recent dogecoin demonstration on a Twitter feed via crypto bull Peter McCormack, who highlighted decentralization as a key merit of the cryptocurrency, Musk retaliated.
“Nasty discussions like this make me stalk Doge,” Musk tweeted. McCormack replaced his Twitter call to “Peter McObnoxious” before commenting on the feed’s content.
“Hey, cryptocurrency ‘experts’, have you ever heard of PayPal?It’s possible. . . maybe. . . let me know how cash works. Not on the blockchain and it’s the kind of monetary design that Bitcoin is looking to counter.
Musk announced on Twitter last week that Tesla would no longer settle for bitcoin as a means of payment due to environmental considerations and the search for alternatives. Previously, he had publicly supported bitcoin, elevating it to the rank of the most popular figures in crypto. -sphere.
His announcement again drew attention to the long-standing debate over bitcoin’s environmental impact. Critics argue that the bitcoin extraction procedure requires an absurd amount of energy coming from fossil fuels, while proponents say it is more commonly blank energy than bitcoin. it uses less power than other investment bureaucracy.
Crypto bull Michael Saylor shared a video of himself describing bitcoin as “the least energy-intensive and maximum effective generation we would possibly have discovered in the history of the human race. “
“He’ll be dressed in a Halloween outfit, but with the top tattooed with ‘Bitcoin’ on his ttops,” Musk continued as enthusiasts shared Sailor Moon GIFs.
Bitcoin lowered its wave of tweets last night to $42,185, which also alluded to the option for Tesla to promote its bitcoin assets. It had reached an all-time high of nearly $65,000 in April, but has gone through several ups and downs since then. it was last trading at $45,416. 14 on Monday, about 30% below the record high.