DogeCoin

Bitcoin New Dogecoin use case fell from $ 40,757 on Wednesday to $ 33,722 on Sunday, while Ethereum dropped from $ 2,892 to $ 2,201 during that time. Similarly, Cardano fell from $ 1.81 on Wednesday to $ 1.36 on Sunday. Binance Coin also fell from $ 387 on Thursday to $ 292 on Sunday.

It’s Doge and Dogfather Elon Musk Again! This time it is a thought. An idea, which may sound ridiculous or even ridiculous to some crypto enthusiasts, but it’s great, at least for Musk. As the prices of bitcoin, Ethereum, and other major currencies continued to decline after a slight correction earlier this week, Musk on Sunday called the hot tub’s idea a “great idea” to take advantage of the heat generated by dogecoin mining. “. The suggestion came from a BlockFolio crypto trading app on Twitter:” A Hot Tub Mining Warmed by Dogcoin. Elon Musk, I don’t care how, just how to do it. “

It’s Doge and Dogfather Elon Musk Again! This time it is a thought. An idea, which may sound ridiculous or even ridiculous to some crypto enthusiasts, but it’s great, at least for Musk. As the prices of bitcoin, Ethereum and other major currencies continued to decline after a slight correction earlier this week, Musk on Sunday called the hot tub’s idea a “great idea” to take advantage of the heat generated by dogcoin mining. “. The suggestion came from a BlockFolio crypto trading app on Twitter:” A Hot Tub Mining Warmed by Dogcoin. Elon Musk, I don’t care how, just how to do it. “

However, this may not be as absurd as it seems at first, given that a real-life satellite launch program is underway that is fully paid for in Dogecoin. Aerospace energy company Geometric Energy Corporation announced earlier this month that it would pay Elon Musk’s SpaceX to carry its 40-kilogram cubic satellite as a lunar cargo aboard a Falcon 9 rocket at Mem Cryptocurrency. “This mission will demonstrate the application of cryptocurrency beyond Earth. Will lay the foundation for orbit and interplanetary commerce,” Tom Ochinero, vice president of SpaceX Commercial Sales, said in a statement. If this could be true, one might expect that Dogecoin mining would also heat a hot tub.

Nevertheless, there are concerns in the crypto ecosystem about the extremely high energy usage and its impact on the environment to produce bitcoin. Musk said earlier this month that he stopped buying his bitcoin-based EVs due to concerns about “the increased use of fossil fuels for bitcoin mining”. According to the Cambridge Center for Alternative Finance, bitcoin uses 115.54 terawatt-hours (TWh) of energy per year, which is more than what countries like the United Arab Emirates, the Netherlands, the Philippines, Pakistan, etc. use.

Musk had reiterated his call for a “carbon tax” (a fee imposed on the burning of coal, gas, and other carbon-based fuels), “about the increased use of fossil fuels for mining and bitcoin transactions, particularly coal.” Among concerns, which is the worst emissions of any fuel, “according to a statement tweeted earlier this month by Musk. However, compared to bitcoin, Dogecoin “wins hands down,” according to Musk. “Doge accelerates lock times 10 times, increases block size 10 times, and reduces fees 100 times,” he tweeted on May 16. did. For Musk, it is less harsh on the environment than Bitcoin and is more economical due to its high supply. Compared to the king of cryptocurrency.

According to CoinMarketCap, Bitcoin Cash Service Phone Number fell from $ 40,757 on Wednesday to $ 33,722 on Sunday, while Ethereum fell from $ 2,892 to $ 2,201 during that period. Similarly, Cardano fell from $ 1.81 on Wednesday to $ 1.36 on Sunday. Binance Coin also fell from $ 387 on Thursday to $ 292 on Sunday.

By Alex Alena

Alex Alena has been the lead news writer at Cryptocurrency Updates. With a degree in communications, Matt has an uncanny ability to make the most complex subject matter easy to understand.