It is always an interesting idea to check up on Bitcoin Cash now and then. A few days ago, mining profitability switched back in favor of Bitcoin Core. It now appears the situation has changed yet again. Mining BCH is 10% more profitable compared to the legacy chain. Not a major difference, but it may sway a few miners to switch over. It also appears more pools are actively mining Bitcoin Cash blocks as we speak. An interesting development, to say the least.
Contrary to what some people may think, Bitcoin Cash will not go away anytime soon. Thanks to its adjustable mining difficulty, the altcoin remains profitable to mine most of the time. Right now, BCH miners earn 10% more value compared to BTC miners. There are also a lot more mining pools to choose from compared to around a week ago. The unknown mining entity finds around 25% of network blocks, instead of 97%. A positive development, as it was certainly needed.
Things Move Along Nicely for Bitcoin Cash
While ViaBTC remains the largest pool. BTC.top is also becoming an active contributor. F2Pool is also on the Bitcoin Cash train by the look of things. Many people would expect Antpool to be one of the largest BCH pools, but that isn’t the case. In fact, they find less than 10% of network blocks. It doesn’t appear the company is fully committed to this new blockchain just yet. Then again, with the profitability switching between both chains now and then, keeping all options open is the best approach.
There are some concerns over the BCH mining difficulty adjustment protocol, though. Many sources claim this system can be triggered by any miner who wants to make Bitcoin Cash mining more profitable. A lower difficulty allows more blocks to be mined in quick succession It also virtually guarantees BCH has the longer blockchain compared to BTC. Right now, the Cash chain is 1573 blocks ahead of the main Bitcoin blockchain. That doesn’t mean all that much, though, other than the fact the proof-of-work phase for BCH will come to an end much quicker at this rate.
Surprisingly enough, it doesn’t appear these newly minted coins are dumped on exchanges. The Bitcoin Cash price seems to hold its own for the time being. Then again, anything can change in the world of cryptocurrency. It will be interesting to see how the situation unfolds for BCH supporters. The altcoin isn’t going away, which is a good sign. Some competition in the Bitcoin ecosystem can only be a positive thing in the long run. It is doubtful Cash will overtake Bitcoin, though.