Bitcoin hit a new high amid price volatility

[death69]

With gaining much more fame, clean mining has become a priority for various mining companies.

Hard to tell. There are still many companies that choose coal over green energy. In fact, there are sources claiming that bitcoin mining resurrects dying coal plants . Therefore, I believe this kind of news only has a neutral impact, especially when we are in the middle of the downtrend season

But in the future, we might witness a better scenario where companies will choose sustainability over toxicity

[1715457522]

1715457522

[1715457522]

1715457522

[kryptqnick]

I don't like the naming because of course people normally think the new high is about the price, and a new hashrate high is something different. Even if it increased 3x rather than 4x, it's still very significant. That being said, is it even 3 times? If we look at total hashrate here, it went from 84 to 223, so it's actually well below 400% and 325%. But still, it's growing, which means the interest is still strong, despite China outlawing mining, and despite many countries thinking of tougher regulations. I would not, however, expect this to have any impact on BTC price.

[fiulpro]

For a second I thought I missed out the price of Bitcoins and the title is misleading for sure and I didn't expect the price to rise that fast and then I went to my wallet> checked the price and then continued reading the post. Well Hash Rate is extremely important it nor just about :
•Security
It also shows how well bitcoins is being adopted in the economy. If the whole network is healthy then in no time we would be able to achieve ATH in terms of the price. There are so many miners and at the same time even the government is now joining in as well.  For them. High hash rate could bring more rewards as well, if they have a powerful machine ofc. Apparently Intel Mining chips are proving to be extremely helpful as well. Also the news about Fort Worth might also influence other governments and companies as well.

[Welsh]

Hard to tell. There are still many companies that choose coal over green energy. In fact, there are sources claiming that bitcoin mining resurrects dying coal plants . Therefore, I believe this kind of news only has a neutral impact, especially when we are in the middle of the downtrend season

But in the future, we might witness a better scenario where companies will choose sustainability over toxicity

Aye, but it doesn't mean the Guardian is correct in this instance. There's been a ongoing sort of campaign against Bitcoin, where pretty much all the news sources are releasing the same sort of articles about how Bitcoin is detrimental to the environment, and how its resurrecting old coal plants which wouldn't have been around if it wasn't for Bitcoin. Frankly, I'm not buying it. There's far more industries which are contributing a lot more, but are ignored. Plus, Bitcoin isn't any less important than some of these industries, so singling out Bitcoin just seems rather biased in the first place. While, I do admit that Bitcoin definitely is contributing, and there will be ways that we can improve it, I still wouldn't say it's the worse offender

[death69]

Hard to tell. There are still many companies that choose coal over green energy. In fact, there are sources claiming that bitcoin mining resurrects dying coal plants . Therefore, I believe this kind of news only has a neutral impact, especially when we are in the middle of the downtrend season

But in the future, we might witness a better scenario where companies will choose sustainability over toxicity

Aye, but it doesn't mean the Guardian is correct in this instance. There's been a ongoing sort of campaign against Bitcoin, where pretty much all the news sources are releasing the same sort of articles about how Bitcoin is detrimental to the environment, and how its resurrecting old coal plants which wouldn't have been around if it wasn't for Bitcoin. Frankly, I'm not buying it. There's far more industries which are contributing a lot more, but are ignored. Plus, Bitcoin isn't any less important than some of these industries, so singling out Bitcoin just seems rather biased in the first place. While, I do admit that Bitcoin definitely is contributing, and there will be ways that we can improve it, I still wouldn't say it's the worse offender

There is always sort of campaigns against Bitcoin. That is how media works, they are controlled by the big companies or governments and they just want to stop the dream of a decentralized system. But it does not mean there is no useful information from an article. Bitcoin definitely reshapes a variety of aspects of our life. However, to me, bitcoin acts like a symbol of the illusion of decentralized and grediness. How many people really understand the core technology of bitcoin? Do they really want to be free from authority? By the time they believe they are centralized, they will always be centralized, no matter which world they dedicate themselves to.

And, you are right. There are many industries that need more concern. AI, green energy, electric car, neuropsychology... So I would rather choose sustainability over bitcoin. Knowledge and experience are sustainable. They will never get lost.

[franky1]

so hash went from 12 to 53  as price dropped from 20 to 6.

the price didnt "drop"..(synonym to describe how the price went down from a perceived point of stability)
the price inflated to the top of its then value window. to the most premium people were willing to pay..
where this high was just a temporary and unexpected event.. and then corrected back to better value

im only correcting you because many people think when a price reaches an ATH that the ATH is meant to be a new value point of sustained store of value whereby it should remain that high and anything below that afterwards is deemed as a drop/crash..
reality is the ATH is just the temporary event thats not sustainable and is meant to correct.
...

what you also have to take into account is not just the hashrate vs price charts.. but the current active majority generation of asics and their cost of mining

so when you see hashrate rises this does not also mean the value window should rise by the same level.
infact when asics become 50% more efficient a 2x of hashrate remains the same value window.

[SirLancelot]

There is always sort of campaigns against Bitcoin. That is how media works, they are controlled by the big companies or governments and they just want to stop the dream of a decentralized system. But it does not mean there is no useful information from an article. Bitcoin definitely reshapes a variety of aspects of our life. However, to me, bitcoin acts like a symbol of the illusion of decentralized and grediness. How many people really understand the core technology of bitcoin? Do they really want to be free from authority? By the time they believe they are centralized, they will always be centralized, no matter which world they dedicate themselves to.

And, you are right. There are many industries that need more concern. AI, green energy, electric car, neuropsychology... So I would rather choose sustainability over bitcoin. Knowledge and experience are sustainable. They will never get lost.

I would guess that it is not just about being against bitcoin but more about whatever agenda they have at that moment. I mean if the owner of the media company invests heavily on bitcoin then they would love it, if he doesn't and hates it then they would hate it too. Which means that there is nothing inherently against bitcoin in the media, it is all about what the owner thinks and does.

This means that they would only be spending their time on saying things that would help the owner. Obviously not too many media owners end up having bitcoin but it is not none neither, there are a few channels which are pro crypto and youtubers are mainly pro-crypto as well which helps.

[Wimex]

As you mention

Bitcoin has withstood many tests and different regulatory attacks

What we have experienced together with Bitcoin so far this year is unprecedented, I think the most forceful blow it received was when the conflict in Russia and Ukraine began, but nevertheless it has stayed afloat, the year is not over yet and it is not known what could happen yet, several studies and analyses, in a particularly interesting article commented on what

Bitcoin has been breaking down from a "bear flag"

source of information: https://cointelegraph.com/news/bitcoin-whale-holdings-at-7-month-highs-despite-warnings-of-btc-price-crash-to-20k

Running the risk of presenting new falls in the coming months.
For what is true, a recession may be coming, there is a lot of uncertainty in the current market, we should not be alarmed, Bitcoin has always shown that in the long term there is nothing to stop it.