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Banks can position themselves to benefit from a depreciation of any given currency, miners are tied to the success of the one they've chosen.
by bluesteel44 9y ago
Banks can position themselves to benefit from a depreciation of any given currency, miners are tied to the success of the one they've chosen.
- SomeStupidPoint 9y agoCan a miner not distribute their effort and holdings?
- Obi_Juan_Kenobi 9y agoMiner hardware is tied to the specific proof-of-work algorithm used in the cryptocurrency they mine. They make extensive capital investments that are, at least in the case of Bitcoin, useless for any other purpose.