Elon Musk made a vital point in his tweet against bitcoin and I think he's right. But what about the tension the tweet generated around the virtual currency ecosystem?
He withdrew bitcoin as a payment option for Tesla's luxurious electric-car purchase simply because he feels bitcoin mining is too hard on the environment
He cited that bitcoin mining affects the stability of the ecosystem . Considering the campaign on the stability of the ecosystem around the world , bitcoin mining portends a great threat to human kind.
However, he promised to accept bitcoin as an option of payment for Tesla's electric car purchase when the production of bitcoin becomes environmental friendly
Apparently, the hazardous conditions surrounding the production of bitcoin raises concern of climate change.
Bitcoin fell by more than 10% when Tesla's shares dipped as a result of the tweet. If bitcoin mining persist, tesla will not reverse its stance against the coin.
How soon do you think this will end?