Bitcoin has been on a downward trajectory ever since billionaire SpaceX and Tesla CEO Elon Musk announced that his car company will stop taking payments in Bitcoin, citing environmental reasons. Instead, Musk has been promoting Dogecoin with his cryptic tweets and also put out a poll asking users if Tesla should start expecting payments in Doge. Seems like even that can be harmful for the environment.
Billy Markus, the software engineer who co-created the coin, recently revealed that he had made the crypto in just two hours and didn't think of its environmental impact.
Markus, who uses the username Shibetoshi Nakamoto on Twitter, was asked by a user @TerrysFishyTips if he considered energy usage while creating the digital currency. "Or was that not something you thought about? How can the dev community make doge more efficient?" the user further asked.
In his response, Markus said that he had created Dogecoin in "like two hours and didn't consider anything."
The conversation started after Musk announced that Tesla will not take payments in Bitcoin. He said that he had that concern, especially the use of coal, which has the "worst emissions" of any fuel.
"Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment," he had tweeted. Tesla shares fell soon after the tweet and even Bitcoin prices have fallen a lot. There was also speculation about Tesla selling Bitcoins as well. However, Musk clarified in a new tweet that nothing like that has been done.
"To clarify speculation, Tesla has not sold any Bitcoin," he tweeted. This has helped Bitcoin recover slightly but, the currency remains in red when compared to last week's high.
Tesla revealed in February it had bought $1.5 billion (roughly Rs. 10,930 crores) of Bitcoin, before accepting it as payment for cars in March, driving a roughly 20 percent surge in the cryptocurrency. Tesla would retain its Bitcoin holdings with the plan to use the cryptocurrency as soon as mining transitions to more sustainable energy sources, Musk said.
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