Extremely Low Oil Prices Might impact Bitcoin Mining Industry
Have you ever watched this video on youtube?
He stated some arguments concerning the effects of low-cost Oil or Oil prices dump to bitcoin mining. I am somehow convinced when he said that the U.S. has 12,000 barrels of oils per day, and might be an opportunity for cheap power which might be taken advantage of by miners to save electricity bills.
Imagine right now that the rewards for miners have been halved, most of the miners might think of quitting the industry but they learned how to utilized and take advantage of these oil prices, it could turn the table for them to start fresh and keep their mining rigs up and running making the bitcoin network more efficient.