{"id":42514,"date":"2021-05-14T17:39:11","date_gmt":"2021-05-14T14:39:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42514"},"modified":"2025-08-30T23:32:19","modified_gmt":"2025-08-30T20:32:19","slug":"pos-coins-gain-ground-after-tesla-stops-accepting-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/pos-coins-gain-ground-after-tesla-stops-accepting-bitcoin\/","title":{"rendered":"PoS coins gain ground after Tesla stops accepting Bitcoin"},"content":{"rendered":"<p>Proof-of-Stake (PoS) coins have outperformed the market overall. The move may have been sparked by Tesla&#8217;s decision to halt sales of electric vehicles paid for in Bitcoin, amid concerns about the currency&#8217;s environmental footprint.<\/p>\n<p>On May 13, the electric-car maker <a href=\"https:\/\/forklog.com\/en\/news\/tesla-halts-bitcoin-car-sales-and-roils-the-market\">expressed concern<\/a> about the rising share of fossil fuels, chiefly coal, in Bitcoin mining and transactions.<\/p>\n<p>In Elon Musk&#8217;s view, the use of cryptocurrencies should not lead to increased use of non-renewable energy sources.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">To be clear, I strongly believe in crypto, but it can\u2019t drive a massive increase in fossil fuel use, especially coal<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1392950720979030019?ref_src=twsrc%5Etfw\">May 13, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The founder of Tesla also said that it is high time to introduce a carbon tax.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">It is high time there was a carbon tax!<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1392947696470659072?ref_src=twsrc%5Etfw\">May 13, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Unlike proof-of-work, in Proof-of-Stake, earnings for stakers depend on the number of coins involved in <a href=\"https:\/\/forklog.com\/en\/news\/what-is-staking-and-how-to-make-money-from-it\">staking<\/a>. This does not require significant energy expenditure and does not affect the environment.<\/p>\n<p>Bitcoin had fallen about 6.6% from its levels after Musk&#8217;s tweets.<\/p>\n<p>Among PoS-based cryptocurrencies by market cap, the period showed relatively better performance. The price of <a href=\"https:\/\/forklog.com\/en\/news\/what-is-cardano-ada\">Cardano<\/a> rose by 11.1%, Stellar by 1%. The quotes for Klaytn and <a href=\"https:\/\/forklog.com\/en\/news\/what-is-eos\">EOS<\/a> fell by 0.6% and 5.4%.<\/p>\n<p>The leader in this category was the Hedera Hashgraph coin. It rose 24.3%.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"519\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Musk-1024x519.png\" alt=\"PoS coins gain ground after Tesla stops accepting Bitcoin\" class=\"wp-image-135263\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Musk-1024x519.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Musk-300x152.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Musk-768x389.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Musk-1536x779.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/Musk.png 1619w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>15-minute chart of Bitcoin, Cardano, Stellar, EOS, Hedera Hashgraph and Klaytn since May 13, 2021. Data: TradingView.<\/figcaption><\/figure>\n<\/div>\n<p>On May 14, Elon Musk announced collaboration with the Dogecoin team regarding &#8220;improving the efficiency of system transactions.&#8221; Against this backdrop, DOGE returned to the top-5 by market cap.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news stream, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Proof-of-Stake (PoS) coins have shown better dynamics than the market overall. The move may have been sparked by Tesla&#8217;s decision to halt sales of electric vehicles paid for in Bitcoin due to concerns about its mining environmental impact.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1401,99,1217,817,1365,2012,77,76,243],"class_list":["post-42514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cardano-ada","tag-dogecoin","tag-elon-musk","tag-eos","tag-hedera-hashgraph","tag-klaytn","tag-proof-of-stake","tag-proof-of-work","tag-stellar"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=42514"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42514\/revisions"}],"predecessor-version":[{"id":42515,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42514\/revisions\/42515"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=42514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=42514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=42514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}