Re:Relative hashpower of BTC and BCH in percentage of total
by sctb on Sunday August 20, 2017 @06:24PM
(#15060543)
We've updated the headline from “Bitcoin's hashpower dropped 20% as miners migrate to Bitcoin Cash”.
Re:Relative hashpower of BTC and BCH in percentage of total
by tylersmith on Sunday August 20, 2017 @07:54PM
(#15060931)
"Bitcoin mining profitability dropped 20% as miners migrate to Bitcoin Cash"
Re:Relative hashpower of BTC and BCH in percentage of total
by cesarb on Sunday August 20, 2017 @06:37PM
(#15060586)
> even if it's currently more profitable to mine Bitcoin Cash than Bitcoin
It seems that is the case if you consider only the block reward, but not if you also consider the transaction fees: http://fork.lol/reward/blocks
The BTC chain has more transactions per block than the BCH chain, and the per-transaction fee is also higher.
Re:Relative hashpower of BTC and BCH in percentage of total
by TD-Linux on Sunday August 20, 2017 @07:09PM
(#15060695)
No, it's still more profitable to mine BCH even considering the transaction fees, see the home page of fork.lol: http://fork.lol/
The graph you linked is not considering block difficulty.
Re:Relative hashpower of BTC and BCH in percentage of total
by sbenitoj on Sunday August 20, 2017 @09:59PM
(#15061405)
Transaction fees, even when they're really expensive like they currently are on the Bitcoin chain, are still minimal in comparison to the block reward of 12.5 Bitcoins (or about $51,250 at current prices) per block found.
Here's a link to a recent full block found on the Bitcoin chain, total transaction fees were 0.43 BTC (or about $1,750).
Recent Full Block on Bitcoin Chain - https://blockchain.info/block/00000000000000000112ebb0462fe5...
Re:Relative hashpower of BTC and BCH in percentage of total
by ojr on Monday August 21, 2017 @02:51AM
(#15062460)
the hashrate that bitcoin is performing at is also dropping
Re:Relative hashpower of BTC and BCH in percentage of total
by bestnameever on Monday August 21, 2017 @04:17AM
(#15062819)
Looking at that chart it seems to rise and drop and regular basis and where it is now really doesn't seem outside the norm. Am I missing something?
The absolute hashrate of the Bitcoin network is still increasing [0].
All this chart demonstrates is that the hashrate of Bitcoin Cash is increasing faster than the hashrate of Bitcoin.
This also means that NEW hashing power is coming online, not that hashing power is necessarily switching from Bitcoin to Bitcoin Cash (even if it's currently more profitable to mine Bitcoin Cash than Bitcoin [1]).
[0] https://bitcoinwisdom.com/bitcoin/difficulty
[1] https://cash.coin.dance/blocks