These figures vary based on the total network hash rate and on the BTC to USD conversion rate. Block reward is fixed at BTC. Future block reward and hash rate changes are not taken into account. The average block time used in the calculation is seconds. The mining profitability difference between BCH and BTC has been declining for several days now. In the beginning, Bitcoin was % more profitable to mine. Given the lower value of BCH and the amount of time it took to mine blocks, that isn’t surprising. Things are . Apr 30, · Bitcoin Cash Mining Profitability In To determine BCH mining profitability, you need to consider a few crucial factors. Factors like hash rate, power consumption, hardware and software requirement and value of BCH coin, all of these needs to be considered before you get started with your free BCH mining/5().
Btc bch profitabilityBitcoin Cash Price Moves Up as Mining Profitability Favors BCH
One needs to make a big hardware investment before mining can even begin. Additionally, there are electricity costs to take into account. Plus, the cryptocurrency you mine needs to be valuable enough to offset all of the costs. Right now, mining Bitcoin makes more sense in this regard. It is far more profitable compared to Bitcoin Cash. That situation will not remain like this indefinitely, though. More specially, the profitability difference between the two is coming down.
Mining BCH was quite unprofitable for the first two to three days. Right now, it is almost on par with Bitcoin mining. This is thanks to multiple mining difficulty adjustments on the Bitcoin Cash network. With the hashrate still on the low end, reducing the difficulty makes a lot of sense. Once more miners support this blockchain the difficult will go up once again.
It will take some time until the number reaches parity, though. There are those who will never support Bitcoin Cash for various reasons. There are those who want to make the most money and mine whatever is most profitable. At this rate, that may very well be Bitcoin Cash for some time to come.
Reaching party with Bitcoin as far as profitability is concerned would be a major milestone. Right now, it seems more people are interested in suppressing the value more than anything else. However, it is a sign of the network maturing slowly but surely. One has to keep in mind BCH has been around for about a week now.
Despite the odds, it successfully survived this long. The network is growing and services are showing support for BCH payments as we speak. An interesting future lies ahead, that much is evident. Miners should pay more attention to what is going on if they want to make more money.
Header image courtesy of Shutterstock. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies. Whether or not enough people care about this 0. Speaking of the mining situation, an interesting situation is developing. Since these blocks do not belong to an official pool, it is interesting to keep an eye on.
In fact, we see there are several entities labeled as Unknown. All of them use a different coin base text when they find a block. That in itself is pretty interesting, albeit also a bit worrisome. At the same time, it shows greater interest in Bitcoin Cash as a whole. This upcoming weekend will be rather interesting for all cryptocurrencies.
With virtually all top currencies in the green, fireworks are to be expected. Who will come out on top, remains the big question. Right now, the momentum favors BCH, but that can always change at any given moment.
Monero has been going strong all week as well, as has Dash. Litecoin might surprise everyone, though, as very few people actively talk about it these days. There is no such thing as a boring day in cryptocurrency. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.
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