Proof-of-Stake Cryptos Win Over Bitcoin (BTC) at Mozilla

Until further notice, Mozilla will no longer accept Proof-of-Work cryptocurrency donations. It will be interesting to see if Mozilla takes the lead in the face of increased scrutiny of PoW mining practices.

People have been talking about Bitcoin (BTC) mining a lot since China banned the mining of Bitcoin (BTC). The China ban led to the U.S. becoming the world's top Bitcoin mining country. Since then, some bad news stories have been on the news. This has added to the debate about how Bitcoin mining affects the environment.

People outside of crypto-related businesses are also having an impact on how crypto-related businesses think about Proof-of-Work protocols and the likes of Bitcoin.

Mozilla will now only accept Proof-of-Stake crypto donations from people who want to help.

In January, FX Empire reported on the Mozilla Foundation's review of its policy on crypto donations and how it matched up with the Foundation's goals for the environment. This is what happened.

Mozilla has changed its policy on crypto donations in response to a backlash over its stance on cryptos.

Mozilla took to Twitter last week to share its new policy on accepting crypto donations. Mozilla sent out a tweet about the event.

“We got it wrong, we heard you, and we’ve evolved.”

There is now a new policy on how crypto donations can be made.

Mozilla will no longer accept ‘proof-of-work’ cryptocurrencies, which are more energy-intensive.

Mozilla will accept ‘proof-of-stake’ cryptocurrencies, which are less energy-intensive, and will develop and share a list of cryptocurrencies we accept by the end of Q2 2022.

People at the Foundation said that they went on even further.

“These decisions are informed by our climate commitments. In January 2021, Mozilla pledged to significantly reduce our greenhouse gas footprint year over year, aiming to exceed the net-zero emissions commitment of the Paris Climate Agreement. Mozilla’s decision not to accept proof-of-work donations ensures that our fundraising activities remain aligned with our emissions commitment.”

In the last few weeks, Mozilla has joined a growing group of people who want to stop the use of PoW Protocols on the web.

A lot of people don't agree with Mozilla when it comes to Proof-of-Work cryptos.

This year, a subcommittee of the U.S. Congress looked into Proof-of-Work cryptos and how they affect the environment. In a more aggressive move, EU lawmakers called for a ban on Proof of Work mining before a vote in parliament left PoW miners unharmed, but the vote was still passed.

When it comes to Bitcoin and other Proof of Work cryptos, the bigger question is whether Mozilla takes the lead.

Climate change is a big deal, and businesses around the world will need to pay attention to Mozilla's position after a lot of people complained.

A lot of people are still using Bitcoin, but they may be more interested in PoW mining, which could leave Bitcoin in the cold.

This is how the price of Bitcoin changed

Market reaction to Mozilla's decision has been tame, even though there has been a lot of talk about Proof-of-Work mining.

At the time of this writing, Bitcoin was down 0.75 percent to $39,788, down to $39,788. Mixing things up: Bitcoin hit $40,197 early in the morning, then fell back down to $39,592 at the end of the day.

bitcoin price
image: FXEmpire

Indicators that show how things work.

Bitcoin will have to move past the $40,012 pivot point in order to make a move on the First Major Resistance Level at $40,757. This is what you need to do. A bigger market would help Bitcoin break out of $40,500.

Second major resistance level: $41,417. Fourth major resistance level: $41,500. This is the third major level of resistance. It's at $42,823.

The First Major Support Level at $39,344 would come into play if the pivot didn't go through, so that would be a bad thing. If there isn't a long-term sell-off, Bitcoin should not fall below $38,500. There is a second major level of support at $38,604.

BTC price
image: FXEmpire

It's a bad sign when you look at the EMAs and the 4-hourly candlestick chart below. This means that Bitcoin is below the 50-day EMA, which is at $42,502. During this time of day, the 50-day EMA moved away from the 200-day EMA. There was a narrowing of the 100-day EMA to the 200-day EMA, which was bad for BTC.

There would be a lot of money to be made if the 100-day EMA crossed through the 200-day EMA in a bad way.

btc price action
image: FXEmpire
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