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“The Breakdown” is the best daily analysis of macroeconomics, bitcoin, geopolitics and big picture power shifts, hosted by Nathaniel Whittemore (@NLW). As more people than ever question the wisdom of unlimited money printing, Nathaniel and prominent guests from crypto, macroeconomics and geopolitics explore the increasingly mainstream alternative bitcoin represents. Coindesk bitcoin price Exploring the tech behind crypto.
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Breaking down Ethereum’s evolution and its impact on crypto markets. Sponsored Content The current price roller coaster got started back in May. Musk tweeted that Tesla would no longer accept bitcoin as payment due to environmental concerns about its heavy energy use, a reversal of its acceptance of the marquee cryptocurrency just two months earlier. As a result, the price of bitcoin dropped around 15 percent.
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This appetite for electricity has drawn widespread criticism from celebrities such as Tesla CEO Elon Musk to government bodies such as China’s State Council and the U.S. Senate over Bitcoin’s impact on climate change. But while the electricity figures are alarmingly high, it’s important to note that bitcoin mining at most accounts for 1.29% of any single country’s energy consumption. Not to mention, Bitcoin is a complete financial system whose energy consumption can be measured and tracked, unlike the fiat system, which cannot be accurately measured and requires a range of additional layers to function, including ATMs, card machines, bank branches, security vehicles, storage facilities and huge data centers. CoinFlip Launches Olliv, A New Crypto Platform Aimed at Democratizing Access to the Digital Economy By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy.