Bitcoin Cash Flips Mining Profitability by haji

bch · @haji · Aug 19 '17 (edited)

$0.21

Bitcoin Cash Flips Mining Profitability

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<p><img src="https://news.bitcoin.com/wp-content/uploads/2017/08/Bitcoin-Cash-Markets-Flip-Mining-Profitability-Which-May-Entice-More-Miners-1-1068x1068.png" width="1068" height="1068"/></p>
<p>&nbsp;<strong>Bitcoin Cash (BCH) markets have been extremely bullish over the &nbsp;past two days after hovering in the $300 range for a solid week. &nbsp;Currently, one BCH is averaging $550 per token, and the market has &nbsp;pushed Ripple out of the way by taking the third highest market &nbsp;capitalization position.</strong>&nbsp;</p>
<h2>Other Miners Consider Mining Bitcoin Cash as the Network’s Mining Profitability Comes Close to Parity With BTC&nbsp;</h2>
<p>&nbsp;The Bitcoin Cash network is moving along &nbsp;more smoothly on its eighteenth day as miners have processed 1062 &nbsp;blocks since August 1. Over the course of that period, many larger &nbsp;blocks have been found above the 1MB block size parameter. Most of the &nbsp;bigger blocks have been in the 2MB-4MB range, but on August 16th the &nbsp;mining pool Bitclub mined an <a href="https://news.bitcoin.com/bitcoin-cash-8mb-block-479469-clears-over-37000-transactions/">8MB block</a> &nbsp;which confirmed 37,000 BCH transactions. The BCH chain’s difficulty has &nbsp;also dropped, and at the same time, the price has risen greatly. These &nbsp;two factors have led to a close profitability parity between both &nbsp;networks as bitcoin mining is currently only 2-6 percent more profitable &nbsp;to mine than bitcoin cash. &nbsp;</p>
<p><img src="https://news.bitcoin.com/wp-content/uploads/2017/07/BCC.png" width="300" height="300"/></p>
<p>&nbsp;The BCH network still only has a few &nbsp;mining pools that have dedicated hashrate to processing the protocol’s &nbsp;blocks. The most prominent miners at the moment include Viabtc, Bitclub, &nbsp;and the ‘unknown mining pool.’ The mystery miner is still crunching &nbsp;away at a vast majority of blocks found on the network. The BCH chain is &nbsp;also 1480 blocks behind the BTC chain, and hashrate will have to pick &nbsp;up immensely to catch up. However, on August 17 the founder of Bitmain &nbsp;Technologies and the mining pool Antpool, Jihan Wu, said his pool might &nbsp;join BCH mining if others do so as well. &nbsp;</p>
<p>&nbsp;“Antpool will start to provide &nbsp;bitcoin cash mining option after at least one of Segwit supporter/fan &nbsp;pools start to mining bitcoin cash,” <a href="https://twitter.com/JihanWu/status/898354818082721793">explains</a> Jihan Wu on Twitter.&nbsp;</p>
<h2>Bitcoin Cash Markets Spike Over 60%</h2>
<p>&nbsp;For the past two days, BCH markets &nbsp;have been on fire, and the market is up over 60 percent at the time of &nbsp;writing. Currently, one bitcoin cash is $550, and the market is &nbsp;commanding a $9B market cap. Further, BCH markets have eclipsed ethereum &nbsp;trading volumes as the cryptocurrency has been trading <a href="https://coinmarketcap.com/">$2B in volume</a> &nbsp;over the past 48 hours. During the late hours of August 17, there was &nbsp;significant resistance in the $520 price territory, but BCH bulls &nbsp;surpassed these sell walls the next day. If a bearish trend picks up &nbsp;order books on Kraken, Bittrex and other BCH exchanges show a solid &nbsp;floor within the $450-470 range. Additionally, the trading platform &nbsp;Bittrex has announced it will process funds for customers after only six &nbsp;BCH confirmations as opposed to its former rule of ten confirmations.&nbsp;</p>
<p><img src="https://news.bitcoin.com/wp-content/uploads/2017/08/juksgaj.png" width="900" height="550"/></p>
<p>&nbsp;BCH supporters are pretty excited &nbsp;about the digital asset’s market movements and the changes in mining &nbsp;profitability. Some of these BCH proponents believe a great mining &nbsp;“flippening” will happen around block 479808. As BCH mining &nbsp;profitability becomes more appealing to miners the chance of other pools &nbsp;joining in is a greater possibility, especially if bitcoin cash markets &nbsp;continue to rise. &nbsp;&nbsp;&nbsp;&nbsp;</p>
<h2>BTC.com Provides a BCH Recovery Tool for a Variety of Wallets&nbsp;</h2>
<p>&nbsp;In addition to the overall positive &nbsp;news, a splitting tool that can extract BCH from other wallets has been &nbsp;launched by BTC.com. “We are happy to announce that as of August 16, &nbsp;2017, BTC.com offers a secure tool to extract bitcoin cash from other &nbsp;wallets,” <a href="https://blog.btc.com/how-to-recover-your-trapped-bitcoin-cash-from-other-wallets-24b929543f26">explains</a> the China-based startup. &nbsp;</p>
<p>&nbsp;“Recovering bitcoin cash from a &nbsp;bitcoin wallet in a do-it-yourself manner can be a risky process that &nbsp;requires serious expertise. That’s why we have developed this designated &nbsp;recovery tool, to make the process easy and seamless for everyone,” &nbsp;BTC.com adds.&nbsp;</p>
<p><strong>Source : </strong><a href="https://news.bitcoin.com/bitcoin-cash-flips-mining-profitability-which-may-entice-more-miners/"><strong>news.bitcoin.com</strong></a></p>
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👍 tskeene, stevescoins, haji, licklake, melvadg, kokoliso, beardedgourmet, kevlar42, cheetah, levithechef, polysen, lucasevewar, zaykov, nrg, obawisewest, ksvvb, networkallstar, depot, miansaad, karen-the-bot, andrianna

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@cheetah · Aug 18 '17

$0.10

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://247bitcoin.net/bitcoin-cash-flips-mining-profitability-which-may-entice-more-miners/

👍 steemcleaners

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@twitterbot · Aug 18 '17

### ![JihanWu](https://pbs.twimg.com/profile_images/567383388659523585/S15iNdqD_normal.jpeg) **[Jihan Wu](https://twitter.com/@JihanWu/status/898354818082721793)** tweeted @ 18 Aug 2017 - 01:24 UTC

> Antpool will start to provide BCC mining option after at least one of SegWit supporters/fan pools start to mining BCC.


###### *Disclaimer: I am just a bot trying to be helpful.*

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@polysen · Aug 18 '17

Interesting! (:

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@haji · Aug 18 '17

thanks :D

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@jetblake · Aug 18 '17

Yep

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@haji · Aug 18 '17

yes yes : )

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@steemcleaners · Aug 19 '17

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