Post
Topic
Board Bitcoin Discussion
Re: Binance Provides $500M Loan for Bitcoin Miners
by
o_e_l_e_o
on 18/10/2022, 08:40:48 UTC
yes true but in this current bear market they might having huge loss since the second biggest coin ETH can't be mine and the price of the energy keep touch higher high when inflation and war explode
Ethereum's proof of work algorithm was different to that of Bitcoin's, so Bitcoin ASICs could not bused to mine Ethereum and vice versa. Ethereum becoming more centralized with PoS is irrelevant to Bitcoin's hashrate.

And as we know from multiple studies and reports, the majority of bitcoin mining utilizes renewable energy, the price of which is entirely unaffected by Russia limiting gas exports and similar events.