John Deaton, an attorney and crypto enthusiast, has revealed he believes that Tesla CEO Elon Musk has just handed Ripple and the XRP token “the best ad campaign” on a “silver platter.”
Deaton’s words came shortly after the electric car marker’s CEO tweeted out that Tesla will no longer be accepting bitcoin payments over concerns about bitcoin’s proof-of-work (PoW) consensus mechanism is bad for the environment.
In the announcement, the electric car market pointed out it won’t be selling any BTC and plans to use it for transactions “as soon as mining transitions to more sustainable energy.” Meanwhile, it is “looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.”
To the attorney, the move will see mainstream news outlets talk about XRP’s low energy consumption when compared to bitcoin. Read More