{"id":190262,"date":"2021-05-14T05:00:56","date_gmt":"2021-05-14T04:00:56","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=190262"},"modified":"2025-04-10T18:42:16","modified_gmt":"2025-04-10T17:42:16","slug":"mark-cuban-reaffirms-bitcoin-plans-after-tesla-snub-sparks-concerns","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/mark-cuban-reaffirms-bitcoin-plans-after-tesla-snub-sparks-concerns\/","title":{"rendered":"Mark Cuban reaffirms Bitcoin plans after Tesla snub sparks concerns"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Billionaire \u2018Shark Tank\u2019 star <\/span><a href=\"https:\/\/cryptoslate.com\/mark-cuban-bitcoin-ethereum\/\"><span style=\"font-weight: 400;\">Mark Cuban<\/span><\/a><span style=\"font-weight: 400;\"> said today that Dallas Mavericks, the Cuban-owned NBA basketball team, will continue to accept <\/span><a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> regardless of the concerns around the asset\u2019s alleged energy usage, as per a tweet this morning.<\/span><\/p>\n<h2><b>Bitcoin saves the environment\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Unlike what the popular consensus seems to be, Cuban said that using cryptocurrencies <\/span><i>help the environment<\/i> instead. \u201cWe will continue to accept BTC\/ETH\/DOGE because we know that replacing gold as a store of value will help the environment,\u201d Cuban\u2019s tweet read, in response to electric carmaker Tesla\u2019s decision to discontinue Bitcoin payments for its cars as of Wednesday.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We at <a href=\"https:\/\/t.co\/VUydpLFzGh\">https:\/\/t.co\/VUydpLFzGh<\/a> will continue to accept BTC\/Eth\/Doge because we know that replacing Gold as a store of value will help the environment  <a href=\"https:\/\/t.co\/bs7NvnJY8A\">https:\/\/t.co\/bs7NvnJY8A<\/a> and  <a href=\"https:\/\/t.co\/ELhbuLOBRV\">https:\/\/t.co\/ELhbuLOBRV<\/a> shrinking big bank and coin usage will benefit society and the environment <a href=\"https:\/\/t.co\/zu08F0STEQ\">https:\/\/t.co\/zu08F0STEQ<\/a><\/p>\n<p>&mdash; Mark Cuban (@mcuban) <a href=\"https:\/\/twitter.com\/mcuban\/status\/1392611938983632896?ref_src=twsrc%5Etfw\">May 12, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The Mavs, as they are fondly called, became the first NBA team to accept cryptocurrencies as a payment method for stadium tickets and merchandise earlier this year. The move was an instant success\u2014with the team raking in <\/span><a href=\"https:\/\/cryptoslate.com\/much-wow-dallas-mavericks-fans-bought-122k-of-merch-using-dogecoin\/\"><span style=\"font-weight: 400;\">$122,000 worth of Dogecoin<\/span><\/a><span style=\"font-weight: 400;\"> via sales within the first few weeks alone.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But the environmental concern of proof-of-work (PoW) cryptocurrencies, mainly those of Bitcoin, have heightened over the past year in line with rising prices. Ethereum, although still a PoW currency, uses <\/span><a href=\"https:\/\/www.independent.co.uk\/life-style\/gadgets-and-tech\/dogecoin-energy-consumption-bitcoin-environment-b1846675.html\"><span style=\"font-weight: 400;\">a tenth of Bitcoin\u2019s energy demands<\/span><\/a><span style=\"font-weight: 400;\"> in comparison (and hence doesn\u2019t attract as much criticism.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Christmas lights in the US require more electricity than some countries.<\/p>\n<p>Can&#39;t wait for the &quot;Let&#39;s end Christmas!&quot; articles ?<\/p>\n<p>&mdash; Pomp ? (@APompliano) <a href=\"https:\/\/twitter.com\/APompliano\/status\/1392797568665636865?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><span style=\"font-weight: 400;\">PoW networks rely on entities that use massive amounts of computational energy (called miners) in order to validate transactions on and maintain such networks. They are rewarded in that network\u2019s token\u2014BTC or ETH, for example\u2014for their work&#8230;and to also foot a massive electricity bill (computer rigs require a lot of capital to be maintained and run).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Such power usage has stirred up criticism.<\/span><\/p>\n<h2><b>Differences<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">A <\/span><i><span style=\"font-weight: 400;\">BBC<\/span><\/i><span style=\"font-weight: 400;\"> report from earlier this year went as far as saying that Bitcoin used as much energy <\/span><a href=\"https:\/\/www.bbc.com\/news\/technology-56012952\"><span style=\"font-weight: 400;\">as <\/span><i><span style=\"font-weight: 400;\">all of Argentina<\/span><\/i><\/a><span style=\"font-weight: 400;\"> with little data on the type of energy used. It is estimated that over 80% of Bitcoin\u2019s energy requirements do, in fact, come from renewable sources like hydroelectricity\u2014which proponents say nullifies the \u2018bad for environment\u2019 argument.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Still, firms like Tesla differ, &#8220;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,&#8221; posted Musk on Twitter.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The move attracted widespread criticism from several quarters, with some stating that Tesla and Musk should have researched the energy allegations before their dictum.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\u201cThe utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is a net waste.\u201d<\/p>\n<p>&#8211; Satoshi Nakamoto<\/p>\n<p>&mdash; Samson Mow (@Excellion) <a href=\"https:\/\/twitter.com\/Excellion\/status\/1392758188307402755?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><span style=\"font-weight: 400;\">Still, as far as Cuban is concerned, cryptocurrencies like Bitcoin remain the way to go. Perhaps it\u2019s down to which billionaire\u2019s opinion do you choose?<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire \u2018Shark Tank\u2019 star Mark Cuban said today that Dallas Mavericks, the Cuban-owned NBA basketball team, will continue to accept Bitcoin regardless of the concerns around the asset\u2019s alleged energy usage, as per a tweet this morning. Bitcoin saves the environment\u00a0 Unlike what the popular consensus seems to be, Cuban said that using cryptocurrencies help [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":190307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29,37],"tags":[60786],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mark Cuban reaffirms Bitcoin plans after Tesla snub sparks concerns<\/title>\n<meta name=\"description\" content=\"\u2018Shark Tank\u2019 star Mark Cuban said today that Dallas Mavericks, the Cuban-owned NBA basketball team, will continue to accept Bitcoin.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/mark-cuban-reaffirms-bitcoin-plans-after-tesla-snub-sparks-concerns\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mark Cuban reaffirms Bitcoin plans after Tesla snub sparks concerns\" \/>\n<meta property=\"og:description\" content=\"\u2018Shark Tank\u2019 star Mark Cuban said today that Dallas Mavericks, the Cuban-owned NBA basketball team, will continue to accept Bitcoin.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/mark-cuban-reaffirms-bitcoin-plans-after-tesla-snub-sparks-concerns\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-14T04:00:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-10T17:42:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/mark-cuban-bitcoin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shaurya Malwa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shaurya Malwa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/mark-cuban-reaffirms-bitcoin-plans-after-tesla-snub-sparks-concerns\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/mark-cuban-reaffirms-bitcoin-plans-after-tesla-snub-sparks-concerns\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#person\",\"name\":\"Shaurya Malwa\",\"url\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"caption\":\"Shaurya Malwa\"},\"jobTitle\":\"Analyst\",\"description\":\"Post-mining his first bitcoin in 2012, there was no looking back for Shaurya Malwa. 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