Cryptocurrency Bloodbath Underway; Bitcoin down nearly 20% in the past 24 hours
“Elon Musk is well-known for manipulating the cryptocurrency market through his Twitter account. He did it again recently, causing a huge crash across all borders when he tweeted that Tesla would no longer accept Bitcoin payments. Anybody with even a sliver of critical thinking can see through his lies. He has been trying crypto pumping for years, tweeting about it endlessly and even going to Saturday Night Live to try to get Dogecoin to rise! Stop Elon’s website states that it is “ridiculous!” They say Musk tweets about investor portfolios and call him a “narcissistic millionaire”, but they don’t mince words.
The third phase would include mind-cap exchange listings, which will see STOPELON target KuCoin. While the fourth phase aims to get crypto coin large caps listings on Binance and Coinbase, Kraken and Kraken. The community’s final goal is to control the Tesla stock and “flying to f*****g Pluto”, as it is called. StopElon trades at $0.0000188133 at the time this is written. The market cap is $9,774,130, with the total supply at 1,000,000,000,000.
Use the Trust Wallet to buy $STOPELON now. This is available for both the Android and Apple iPhone. Step 2: “Transfer BNB into your wallet.” You can do this from Binance using the BNB network. Or, you can go into your Smart Chain wallet and click on buy in the right corner.
The energy required to mine digital coins has been a major topic of discussion for cryptocurrency. This includes Bitcoin, Ethereum and Litecoin. Musk posted a few days ago a series of cryptocurrency tweets. He took the time to say that Tesla would not accept Bitcoin as payment for their electric cars. This was due to the increased power consumption associated with mining and transactions using Bitcoin and other crypto currencies, and the negative environmental consequences. In March, Tesla stated that they would accept Bitcoin for payment to buy their electric cars.
Galaxy Digital, a financial services and investment management company, released numbers about Bitcoin’s energy consumption. These numbers show that traditional banking systems and Gold mining use twice as much energy as Bitcoin. Galaxy Digital estimates that the Bitcoin network’s annual electricity consumption is 113.89 Terawatts per hour (TWh/year). Comparatively, the banks consume 263.72 TWh/yr while gold mining consumes approximately 240.61TWh/yr.
They also pointed out that 26,730.07TWh/yr electricity is produced. However, transmission losses can reach as high as 2,205.23TWh/yr. This data was confirmed by the International Energy Agency (IEA). This loss is 19.36x what Bitcoin’s annual energy consumption.
Now, the $STOPELON phased rolling out sees the website launch and the listing of crypto on BSCSCAN. This tracker tracks cryptocurrency holders and transfers. Next steps include an ongoing code audit by techrate.org and listing on Coinhunt and CoinGecko. The second phase includes staking liquidity and large-scale token drop across exchanges.