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Tesla will stop accepting bitcoin due to environmental concerns

Bitcoin plunges as much as 17 percent

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Source: Coin Companion

It seems like the bitcoin party has hit a massive snag as Tesla CEO, Elon Musk, tweeted that it’ll no longer accept cryptocurrency as a medium of payment. The billionaire said cryptocurrency has great potential, but it’s also harming the environment.

“We are concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk tweeted. “Cryptocurrency is a good idea on many levels, and we believe it has a promising future, but this cannot come at great cost to the environment.”

Experts have always warned that the environmental cost of mining cryptocurrency was too high. Mining requires a lot of electricity, which is usually produced by burning coal or other fossil fuels. Unless mining requirements are fulfilled by sustainable energy, it’ll be impossible to make bitcoin an emission-free currency. Bitcoin’s energy demands can hasten a switch to greener energy sources, but the vast majority of bitcoins are still mined using fossil fuels.

Tesla’s adoption of the currency was considered a watershed moment in history. Mainstream companies are yet to accept bitcoins for regular transactions, and encouragement from cutting-edge technology companies like Tesla and PayPal can change the game.

The price of a bitcoin, which is still at more than US$ 50,000, but the downward trend could dominate the charts for some time. Musk is an ardent supporter of cryptocurrency and played a critical role in the rise of Dogecoin.

Tesla first announced it was accepting bitcoin for car payments starting in February. The announcement came in concert with a US$ 1.5 billion investment in bitcoin as a treasury asset. Although, the carmaker hasn’t revealed how many cars it has sold via bitcoins so far.

Image source: Coin Companion

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Qualcomm announces Snapdragon 8 Plus Gen 1

And Snapdragon 7 Plus Gen 1

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The second half of this year’s smartphones are coming. Naturally, each smartphone needs a capable processor to make itself more special among today’s crop of devices. Signaling the start of the next slate of devices, Qualcomm has announced the Snapdragon 8 Plus Gen 1.

A lot of current lineups have already launched for the year. However, we’re still missing some of the more premium offerings today. The new Snapdragon 8 Plus Gen 1 will power the next generation for the year. And, according to Qualcomm, the chipset will deliver 10 percent faster CPU and GPU performance. It will also use 15 percent less power, squeezing out an extra hour of usage.

The chipset will focus more on performance. Even if the smartphone heats up from all the gaming, the processor can keep up with delivering sustained performance.

Though the list of confirmed devices is still a bit sparse today, companies have already promised to use the Snapdragon 8 Plus Gen 1. These include Honor, iQOO, Lenovo, Motorola, OnePlus, OPPO, realme, vivo, Xiaomi, and ZTE. As expected, gaming brands are also signing up like ASUS’s Republic of Gamers and Black Shark.

Ironically, that’s not even the gaming processor, according to Qualcomm. The company also released the Snapdragon 7 Plus Gen 1, which reportedly touts a 20 percent boost to GPU performance. Honor, OPPO, and Xiaomi are already making phones with the chipset.

SEE ALSO: Snapdragon 8 Gen 1 beats Apple A15 Bionic in early tests

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Netflix is losing a lot of long-term subscribers

People are switching

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The Netflix revolution was indeed televised. However, after enjoying years of success as the streaming platform of choice, a lot of users are now leaving Netflix for greener pastures. Over the past few months, the company has struggled to patch its failures. A recently released data report does confirm that the platform has a right to worry. More and more long-term subscribers are reportedly cutting their subscriptions short.

According to The Information, around 13 percent of Netflix cancelers in the past quarter are from accounts that have been with the platform for over three years. The data, which was reportedly obtained from Antenna, pegs cancelations at around 3.6 million Americans, a big increase from the 2.5 million of the past five quarters.

Though 13 percent isn’t exactly a giant figure, it’s still a blow to Netflix’s empire. While streaming platform rightly focus on gaining new subscribers, losing the loyalty of long-term users isn’t something to shrug off.

Since announcing lost expectations, Netflix announced ways to save on costs and retain its subscribers. Other methods include canceling projects, opening a games division, and potentially charging users more for account sharing. Naturally, not every plan hits users the same way.

In the meantime, other platforms — like Disney+, HBO, and Hulu — are attracting more users with more varied and exclusive content. Regardless, Netflix is skidding down a slope. Only time will tell whether its latest strategies will stave off more losses.

SEE ALSO: Netflix is experimenting with livestreaming content

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IFA 2022 gets greenlit for in-person event

A stunning return

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The COVID-19 pandemic has rightly locked the tech industry into a standstill. It was vastly unsafe to congregate in groups for fear of contracting the virus. However, with vaccines and better healthcare, the world is slowly going back to normal. Events which were once canceled are now returning to the big stage. Joining that roster, IFA 2022 has now received the greenlight for an official event this year.

It’s been two years since the last IFA event. While 2020 was the height of the pandemic, the event’s organizers also canceled a return last year amid the resurgence of other variants. Now, all obstacles are gone.

IFA Berlin has officially confirmed that IFA 2022 will take place between September 2 through 6. Super-early-bird tickets are already available for EUR 35 if you happen to be in the area.

More importantly, the organizers are also confirming that two-thirds of the event’s exhibitors are going back to the event for presentations. Likewise, retail groups will make a return to Berlin.

Berlin isn’t the only major event making a return this year. Computex has also announced an in-person event this year between May 24 to 27. Likewise, MWC 2022 happened earlier this year, spotlighting major players in the industry.

SEE ALSO: GadgetMatch Awards: Best of IFA 2019

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