Post
Topic
Board Bitcoin Discussion
Merits 10 from 6 users
Re: Binance Provides $500M Loan for Bitcoin Miners
by
o_e_l_e_o
on 16/10/2022, 15:23:54 UTC
⭐ Merited by RockBell (3) ,pooya87 (2) ,stompix (2) ,ETFbitcoin (1) ,Dr.Bitcoin_Strange (1) ,DdmrDdmr (1)
And as a solution for Bitcoin miners who had experienced losses, Binance Pool as one of the world's leading crypto miners has a responsibility to keep the digital asset ecosystem running and growing.
Because if you are running an unprofitable business, the best possible thing to do is to take out a loan so you continue to run your unprofitable business and end up even more in debt than you were to begin with. Roll Eyes

Don't be fooled in to thinking this is Binance doing something good for the network. It isn't. This is Binance doing anything they can to make profits, at the expense of anyone and anything else. Just as they have always done.

The last retarget saw the difficulty increase by one of the highest jumps ever, and the highest since May last year. We are on track for another 5% jump in this period. Hashrate is at its highest ever. The ecosystem is "running and growing" just fine, without this cash grab from Binance.