Philip Salter, head of operations at Genesis Mining, believes that economic meltdown may cause a growing value for Bitcoin as a hedge against the banks. In the last few weeks, there has been tons of turmoil within the Bitcoin world. There was a rapid decline in hashrate, followed by a good more precipitous price drop. This was particularly troublesome in sight of the approaching halving. Cointelegraph has had an in-depth conversation on these topics with one among the foremost prominent figures within the Bitcoin mining space, Phil Salter. Bitcoin miners have margin calls too Speaking on whether miners played a serious role within the recent market decline, Salter observed: "It’s no different from traditional markets, you have to sell everything to keep the operations going, to pay off your debts. As a miner you have bills to pay, you have to pay for electricity, for operations; and your expenses are in dollars, so as the price of bitcoin is dropping, it means you have...
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