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Yesterday Tesla released a statement that they will no longer accept Bitcoin, because of the fossil fuel costs associated with the network.

https://twitter.com/elonmusk/status/1392602041025843203

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Shame they didn't research that before they bought $1.5 billion in BTC.

Presumably they're donating all their profits from their BTC purchase to carbon offsets? Otherwise it's all worthless posturing.

It seems unlikely that the carbon cost of the transaction even slightly approaches the amount of profit they've made.

It also seems unlikely the environment had anything at all to do with their bitcoin flip flop. The environmental concerns existed and were very well discussed and publicized before Tesla decided to accept bitcoin. It was the “good” reason for their decision but not the real reason.

But doesn't his tweet also implicitly say they're HODLing for the long term? He said they won't sell any BTC until there's less energy consumption... does that mean they wait until the miners are 100% on renewable energy (instead of the ~75% renewable today)?

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