URGENT! Elon Musk Ready To Invest In VeChain VET

elon musk's surprising announcement that tesla will stop funding bitcoin due to concerns about the cryptocurrency's environmental effects has sparked renewed interest in digital currencies that might be more sustainable hi vechain lovers welcome to vegan land [Music] your daily dose of v-chain if you're interested in everything around v-chain this is the place for you make sure to hit the like button and subscribe for us to provide you with more vijay news and let us know in the comments how much you think vj will cost by the end of the year let's get to it elon musk wiped out more than 360 billion dollars worth in bitcoin worth with the tweet announcing that tesla will no longer support the digital token for car purchases due to the high environmental cost of mining the cryptocurrency but did it just occur to musk that bitcoin mining consumes a significant amount of dirty fossil fuels it's highly unlikely according to some observers it's all about green marketing burnishing tesla's green credentials and possibly building support for solar or biofuels as a source of energy for bitcoin processing which would help tesla ticker tsla in the long run david grinder head of digital asset analysis at fundsrank global advisors says there's no way anyone who can launch rockets into space and engineer greener battery technology didn't understand how bitcoin mining works according to musk tesla will not sell the bitcoin into mast and will accept the cryptocurrency as payment as soon as mining transitions to a more sustainable energy as he said in a tweet according to a regulatory report the firm had 2.5 billion dollars in bitcoin at the end of march he also said in a tweet that the company was concerned about the rapidly growing use of fossil fuels for bitcoin mining and transactions especially coal which has the highest emissions of any fuel he didn't say what led him to that conclusion which came after a time of heavily promoting a number of cryptocurrencies however he did say that if cryptocurrencies were to become more sustainable it would be possible to improve in the future mr musk is far from alone in his worry about bitcoin's energy consumption in recent months amid the cryptocurrency prices and interest concerns have been raised that the amount of energy consumes is unsustainable according to cambridge bitcoin energy consumption index bitcoin now consumes more electricity than sweden or malaysia and it's only gonna get bigger according to the same data estimated consumption is nearly three times higher than it was this time last year it is not an accident that bitcoin uses a lot of energy it is a deliberate and engineered feature of the system this is due to the fact that it is based on the concept of proof of work mining the blockchain or public decentralized ledger eliminates the need for essential authority to determine who owns what bitcoin instead of delegating the responsibility to a number of individuals as a result a method for establishing consensus across all of the network's various components is required proof of work is how bitcoin accomplishes this proof of work is designed to ensure the cryptocurrency's security and functionality by requiring participants to demonstrate that they've worked on the blockchain within this is accomplished by helping machine solve complex puzzles that can only be solved by brute force as a result miners are constantly competing to be the first to discover the solution and the only way to improve the chances of succeeding is to perform further calculations with more computational capacity equipment and energy the mining method must be inefficient otherwise the methods that support bitcoin would not work properly however this also implies that bitcoin's energy consumption is unavoidable one solution is to get the mining work performed with environmentally friendly energy sources however there is no way to guarantee this and since fossil fuels remain the cheapest source in many parts of the world the dirty work will continue however a new approach has emerged that seeks to provide an alternative to some of those filthy foundations old coins or alternative cryptocurrencies have been created to address some of these problems cardano or more specifically ada is the most well-known environmentally conscious cryptocurrency and it makes use of the network to facilitate transactions since it's based on the concept of proof of stake rather than proof of work this is the case proof of stake allows people to mine according to how much cryptocurrency they own rather than having machines on the network do unnecessary and dirty work to prove themselves this imposes constraints in the same way as they would be imposed but without using the same amount of resources this technology is used by other cryptocurrencies besides cardano litecoin and other old coins do as well and it's technically possible for someone to build a new old coin that does do so at any time others have gone even further not only reducing their energy consumption but also vigorously promoting cleaner energy generation methods v-chain the leading enterprise-friendly blockchain network has officially launched its blockchain enabled sustainability solution to assist businesses in digitizing and increasing productivity for sustainable business practices v-chained toolchain tm is the company's one-stop data blockchain as a service b-a-a-s platform according to research conducted by the world economic forum the threats to businesses will increase as a result of both the direct and indirect effects of climate change on business processes and supply chains financial regulators and legislators have proposed mandatory climate risk disclosure regulations and lawsuits against businesses that fail to report climate risk and there have been corresponding calls for transparency on sustainable activities meanwhile the majority of consumers especially generation zen are demanding more sustainable goods from brands and demonstrating a clear willingness to charge their buying habits to help minimize negative environmental effects these consumers are also more likely to purchase goods with a strong sustainability strategy the v chain blockchain enabled sustainability solution focuses on establishing a value-driven strategy for companies to streamline sustainable practices in the supply chain and manufacturing process blockchain technology enables companies to show off their sustainable practices to customers financial regulators and policy makers in a reliable and accurate manner vechain's blockchain enabled sustainability solution is based on v-chain toolchain tm a b-a-a-s platform in the industry v-chain tool chain tm is distinguished by its high standardization low-cost and flexible payment options and it's easily adopted by businesses of all sizes vegan toolchain tm provides businesses with customized software and white label resources allowing them to develop their own sustainability service for their own clients the solution ensures that all data is reliable unchangeable and consistent with all supply chain counterparties this eliminates friction caused by erroneous or missing details and improves open partnerships in a cost effective and productive manner by integrating digital based services with field operations blockchain's added transparency could help re-engineer all sustainable processes entirely brands may illustrate long-term plans to the public or report to regulators resulting in increased loyalty and brand image v chain will assist businesses in reducing the expense of public reporting for government oversight sustainable ranking for green brand image and attestation for responsible funding of green bonds government financial subsidies and equity investors featuring the world's leading enterprise friendly blockchain network shares the vision of a future of green business with businesses and has a mass know-how and refined technology in a variety of business sectors vegan aims to introduce blockchain technology to companies in every industry by collaborating with strategic partners such as pwc and dnvgl the team has hinted that the new solution is based on the vechain toolchain baas framework which provides businesses with a wide range of benefits including knowledge transparency and accuracy which promotes trust and confidence between brands and customers among other things vechain claims that its approach would help companies save money on public reporting service for government enforcement sustainable rating service for green band image and attestation service for responsible financing because it makes it easier for them to collect reliable data about their sustainability efforts through their supply chains and everyday processes not only that but vechain has stated that businesses that implement its blockchain-enabled sustainability solution will have access to cutting-edge third-party services from vchen's growing list of partners which include dnvgl grant thornton and others even after a 4 500 increase in a year v chain is only worth 20 cents per coin price prediction over the last 24 days the v chain price has moved in the non-volatile range vet appears to be in a consolidation period despite generating higher highs and lower lows suggesting that the overall trend is bullish since the 50 and 100 six-hour simple moving averages smas are both about 0.211 a jump of the 50 sma above the 100 sma indicates that short-term bullish momentum is increasing the first sign of an upswing would be a definitive break above the supply zone which runs from 0.228 to 0.245 a breakout above 0.266 dollars and sustained trading at this stage however would signal the start of a bull rally in these circumstances the v chain price is expected to rise nearly 15 percent to challenge the 161.8 fibonacci extension mark at 0.303 dollars if the buying pressure continues vet could grow another 7.5 percent to 0.326 200 fibonacci extension investors should be wary of a downswing that breaks below the immediate support at 0.192 even if the upswing scenario has not yet developed this means that the restructuring process is still ongoing the bullish argument would be invalidated if the six-hour candlestick closes below 0.18 resulting in a lower low in that scenario the v-chain price could drop by about 10 to 0.162 the 206 hour sma let us know in the comments below what you think about elon musk investing in v chain and make sure to subscribe and give us a thumbs up see you next time at vegan land

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