ELON MUSK JUST LITERALLY TOLD US TO BUY XRP

Elon Musk has always been known as the one supporting Bitcoin. But recently he has performed a sudden U-turn on bitcoin over concerns about its energy usage. He signaled that XRP will be the option and he literally signaled us to buy XRP. Let's get deeper into this and find out more about this in our video.

Hey Guys! Welcome back to crypto millionaires! A channel where we give information to you about investing in crypto! Please like and subscribe if you’re new here to get everything you need to know about crypto currencies. In today’s video, you will know about Elon Musk’s tweet about Bitcoin’s energy consumption. What impact the tweet had on Bitcoins price. Is Tesla looking for an alternative to bitcoin? What did Brad Garlinghouse say about bitcoin as a harm to the environment?

BITCOIN’S ENERGY CONSUMPTION IS INSANE – ELON MUSK

Tesla has suspended vehicle purchases using Bitcoin due to climate change concerns related to the crypto currency. Just recently, Elon Musk posted a chart on Twitter from the University of Cambridge showing that Bitcoin’s electricity consumption has skyrocketed this year. He criticized crypto mining for two continuous days for using fossil fuels and comes after an announcement that Tesla would suspend car purchases using Bitcoin. He posted that

‘Tesla has suspended vehicle purchases using Bitcoin. We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Crypto currency is a good idea on many levels and we believe it has a promising future, but this cannot come at a great cost to the environment. Tesla will not be selling any bitcoin and we intend to use it for transactions as soon as mining transactions to more sustainable energy. We are also looking at other crypto currencies that use less than 1% of Bitcoin’s

energy/transaction.’

Tesla Inc.’s Chief Executive Officer Elon Musk doubled down on his attack on Bitcoin’s energy demands, calling recent consumption trends “insane.”

Musk’s tweets raise questions about Bitcoin’s attractiveness as an investment at a time when institutional firms are increasingly vocal about climate change and environmental issues.

What makes XRP different?
The important difference between the example above and Ripple is that with Ripple, trust relationships are automated on a blockchain that tracks all accounts, balances, and IOUs. This blockchain is the Ripple Ledger. Every participant in the network who can send transactions and/or holds XRP is defined as an account.
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