Elon just blew up the conversation about solving energy problems by reinstating the importance of “renewable energy” in the 05/08 event at the Saturday Night Live Cast.

Everyone is screaming for usage, adoption, etcetera, but we are not sure what that means in the real world. Some alt projects like ADA make it clear that

However, Elon has also given the word of caution:  “First of all, I think people should not invest their life savings in cryptocurrency. To be clear, I think that’s unwise.”

The word of caution is like a fine print statutory warning for those who care.  The rest are those who are taken away by celebrity tweets, further making their decisions based on that.

Elon Musk expressed, “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.

Cryptocurrency is a good idea on many levels, and we believe it has a promising future, but this cannot come at a significant cost to the environment.  Tesla will not be selling any Bitcoin, and we intend to use it for transactions as soon as mining transitions to more sustainable energy.  We are looking at other cryptocurrencies that use <% of Bitcoin’s energy/transaction.”

So, “DogeCoin meets Elon Musk’s criteria of <%1 the energy usage of bitcoin.” So, this implies that Doge is energy efficient. Thus, Elon Musk is making one to feel that Doge will replace BTC.

The Kilowatt-hours consumed per transaction for other crypto in mining: XRP – 0.0079; DogeCoin – 0.12; Cardano – 0.5479; Litecoin – 18.522; Bitcoin Cash – 18.957; Ethereum -62.56; Bitcoin 707.

In response to the Kilowatt hour’s consumption, someone stated that PoS does not consume power for transaction.  Someone stated, “You realize that 75% of miners use renewable energy, right? This energy story has been debunked over and over again.” However, the whole point is, “Renewable or not, BTC still uses too much energy.”

It looks like the Elon Musk Propaganda is not going to end. Cryptocurrency is here to stay, and people like Elon can only manipulate the market, but cannot dump it with it’s stupid logic. “Imagine – an electric car maker doesn’t know at first what bitcoin uses as energy? And he invested in it?”

Ultimately, DYOR – Do your own research.

It would be pretty terrible if $TSLA added $1.5B of Bitcoin to their treasury without even researching it first. It would also be pretty terrible if their CEO publicly shilled $DOGE, which is also proof of work and burns electricity, yet has worse fundamentals than $BTC.