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The billionaire Microsoft founder made his remarks in a recent New York Times interview, and recent data revealing the enormous energy usage of bitcoin mining seems to back that up. But proponents of digital currencies, which are quickly being adopted by the mainstream, believe that the industry could be a force for good — if it eventually makes a total switch to renewables. Recent studies have highlighted the enormous toll that mining bitcoin, the most well known of all cryptocurrencies, has on the planet. An analysis undertaken by Cambridge researchers, for example, estimates that bitcoin uses up more electricity than the whole of Argentina.

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Content:

• Bitcoin Has Arrived in Vegas, But It's Still Far From Mainstream
• Bill Gates Says He is ‘Neutral’ on Bitcoin
• Bill Gates Says Bitcoin Is Bad for the Planet. He’s Not Wrong.
• The Leader for Cryptocurrency Tracking and Tax Reporting
• Bitcoin: Time to go All-In or Fold?
• It's Gates versus Musk as world's richest spar over bitcoin
• Bitcoin falls after concerns expressed by Musk, Gates and Yellen

WATCH RELATED VIDEO: BITCOIN CRASH TO ZERO \u0026 Satoshi 1mil BTC: Prophecies of Crypto Winter \u0026 Wealth Transfer(Part 3 of 5)

Bitcoin Has Arrived in Vegas, But It's Still Far From Mainstream

Musk's tweet was part of a reply to a tweet from Peter Schiff , chief market strategist for brokerage firm Euro Pacific Capital, about the value of Bitcoin versus gold-backed currency. In an interview with Bloomberg , Gates gave his thoughts on Bitcoin and the idea that it can be affected so dramatically by a tweet from Musk. Gates also expressed concern about Bitcoin's massive use of energy, similar to a point Yellen made during the DealBook conference on Monday.

She remarked about how the amount of energy used for the transactions is "staggering. It's an extremely inefficient way of conducting transactions, and the amount of energy that's consumed in processing those transactions is staggering. Bitcoin and other crypto coins such as Dogecoin require a lot of computing power in order for people to conduct transactions.

These heavy computer calculations, also known as mining, need a huge amount of power -- more than the country of Argentina. Bitcoin falls after concerns expressed by Musk, Gates and Yellen The crypto coin takes a bit of a stumble after a long rally. Oscar Gonzalez. Bitcoin continues dropping in price. Delivered on weekdays.

Bill Gates Says He is ‘Neutral’ on Bitcoin

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Bill Gates Says Bitcoin Is Bad for the Planet. He’s Not Wrong.

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The Leader for Cryptocurrency Tracking and Tax Reporting

Bill Gates, fresh off making headlines for suggesting the world should eat percent synthetic beef , is now beefing with a new target: bitcoin. Gates, the Microsoft cofounder and chair of the investment fund Breakthrough Energy Ventures, recently said in a live-streamed Clubhouse session that bitcoin guzzles up a concerning amount of energy. A quick refresher: Bitcoin is a cryptocurrency —a shared, encrypted, publicly available form of money made by building links in a longer and longer blockchain code. Blockchain refers to the collective record called a ledger that stores cryptocurrency transactions, like a communal Excel spreadsheet.

Bitcoin: Time to go All-In or Fold?

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It's Gates versus Musk as world's richest spar over bitcoin

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Bitcoin falls after concerns expressed by Musk, Gates and Yellen

By Paul R. New York CNN Business The boom in bitcoin prices is giving a huge lift to a California bank that accepts cryptocurrency deposits and doles out bitcoin-backed loans. More Videos Is Bitcoin a safe bet?

Hackers infiltrated an online analytics platform used by more than two million other websites over the weekend, but did so to target just one cryptocurrency exchange platform. But findings published by ESET showed how attackers, in this "supply-chain attack", infiltrated StatCounter to intercept Bitcoin exchanges made via the platform to syphon away cryptocurrency for themselves. StatCounter was infiltrated on 3 November, security researcher Matthieu Faou wrote, and the platform removed the infected script three days later. During that time, gate.

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