Bitcoin cash's surge above $500 today is changing more than just the the net worth of its investors and users.
The rising price is also creating the incentive for miners to dedicate computing power to the bitcoin cash blockchain, one that could find them moving away from bitcoin. With the new push, bitcoin cash miners are making around 2% more mining on bitcoin than they do on bitcoin cash.
And that spread could further increase with an upcoming adjustment on bitcoin cash that will make it even easier to mine.
Block 479,808 (set for this weekend) will likely trigger a difficulty adjustment downwards 50%, and if the prices of bitcoin and bitcoin cash stay the same, this means miners will make almost double on bitcoin cash what they would on bitcoin.
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However, even with this threshold met, not all things are equal on both chains.
The bitcoin blockchain charges higher fees on transactions, so miners must take into account the extra 1.5 BTC per block on bitcoin (about $6,000 USD). By comparison, bitcoin cash has very low fees (typically under $50 USD).
Lastly, depending on the block times, bitcoin currently gets the 100 confirmations needed to spend the mining reward faster than bitcoin cash. (Currently, bitcoin takes about 17 hours and bitcoin cash takes about 34 hours).
Further, combined with the higher liquidity, bitcoin may still emerge as more attractive to mine at the moment.
Please comment and upvote guys.. I will be coming up with a lot of content and information as well.
Thank you.!
i think its profitable to mine any altcoin now than bitcoin :)
Hello investwarrior, yes you are right but there is a certain limit and $ value does go up or down all of a sudden with crypto trading with alt coins. It is not always good to have a large quantity in alt coins or better have it converter to ETH or BTC :)
Let's connect if you have any plans in long term investment plans with bitcoins. I will be happy to show you more in detail.
Thanks
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STOPHi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.coindesk.com/bitcoin-cash-closes-profitability-parity-original-blockchain/