Blockchain stocks in early market trading Friday

(May 14) Blockchain stocks in early market trading Friday.

The bit firmly between his teeth on this energy consumption thing, Elon Musk overnight engaged a bit on Twitter withMicrostrategy(NASDAQ:MSTR)CEO Michael Saylor.

Saylor (and others) havepointed out the obvious fallacyin Musk's logic, noting Bitcoin mining has nothing to do with transactions. Saylor: "Ironic because no incremental energy is used in a #bitcoin transaction. The energy is used to secure the crypto-asset network, and the net impact on fossil fuel consumption over time will be negative, all things considered." Saylor also notes the vast majority of Bitcoin mining is accomplished via renewable energy sources.

Musk isn't pleasedwith entrepreneurs reviving shuttered power plants in out-of-the-way areas for the purpose of providing energy for Bitcoin mining, even as the revamped plants will now be using natural gas instead of coal.

Saylor:"Bitcoin (BTC-USD) offers 8B people a superior technology to guarantee their human rights to property, as well as a solution to the global problem of inflation & currency devaluation which creates $10Tn in economic damage per year. Isn't the fossil fuel mix second order?"

Bitcoin this morning has managed to bounce back to just shy of the $51K level, while Ethereum (ETH-USD) is ahead 6% and again topping $4K.

All well into the green this morning after yesterday's rout: Riot Blockchain(NASDAQ:RIOT), Marathon Patent(NASDAQ:MARA), Coinbase(NASDAQ:COIN), Canaan(NASDAQ:CAN), SOS Limited(NYSE:SOS), Microstrategy.