Bitcoin Forum

Currently BCH is only mining 3 blocks per day. There are people out there who have transactions that are 6 to 8 blocks away. I know that when I go to transfer my BCH from electron cash to hitbtc I will be waiting up to 3 days for the transfer. I am patient but I am sure others arent so patient.

This is one of the reasons you see the price of BCH rising so heavily, because even though there is much out there, NO ONE will be able to sell it on the markets for a couple days.

So, you would like people to burn money through electricity mining a HUGE difficulty chain that will never pay their costs back so your transactions can print?

Yeah, that is brilliant.   Who thought this was a good idea?

I'm mining BCH, its not all about profit! :)

should not the diff retarget in a few days anyways

months you mean?   it is over 1000 blocks from retargeting.

There's no reason for sane miners who are currently mining Bitcoin to switch to a less profitable altcoin.
It'll probably keep being this way until the difficulty readjusts, or until their hashrate crash protection kicks in (it may already have, I'm not sure).

There are miners that don't care about profit but even for them, i don't understand why would anyone want to mine BCH. It's just worse version of bitcoin. No reason to invest your time and hardware into that. Even you (@OP) just want to dump it and make some quick buck

Mining for BCH now is always profitable because there are less miners low difficulty level. And you always have an option for keeping BCH or exchange with Bitcoins. I prefer keep BCH can be profitable atleast for this month i see its price flying high. Moreover its quite profitable to mine BCH for atleast 4-6months it will be most profitable because of lack of miners :)

Just wait some times sitting on your BCH. Soon diff retarget will happen and you will be able to move your coins lighting fast

You have no idea what you are talking about. When BCH forked it inherited the difficulty of the Bitcoin chain at the moment of the split. This means the chain only has maybe 5% (last time I checked) of Bitcoin's hashrate and all of its difficulty.

Sure there is a difficulty adjustment in place that will eventually happen, but they need to mine enough blocks to get there. While some supporters will forsake profits for a little while to help give it a boost, those big miners paying $1,000/day in electric bills are not going to be quite so generous.

And, if you can tell us, what is the secret, why you're mining this coin?
I cant find any reason to support this.
Of course I can be wrong, or haven't informations, you have.

Are you serious ?
Mine BCH yourself and buy enough hardware to offer a good hashrate to this coin.

Because I think BTC core is toxic as fuck, and I'd rather support anyone else tbh.

Regarding diff retarget: https://medium.com/@jimmysong/bitcoin-cash-difficulty-adjustments-2ec589099a8e

"Bitcoin Cash has a very particular rule about when difficulty can adjust downward. Rules for this are as follows:

• Median Time Past of the current block and the Median Time Past of 6 blocks before has to be greater than 12 hours.
  
• If so, it gets 20% easier to create proof of work. In other words, miners can find blocks 20% easier."

bch p2pool

http://bch.coinminer.space:5964/static/

If they were smart they would take miners offline and make the hashrate crash protection kick in NOW. then start up again...

No yet.. it has the same dificulty as regular bitcoin... aka you are making 0 until that self adjusts.

They have to find a block for difficulty to adjust down.   If there are less than a block every two hours after that block, difficulty will drop again.   and so on.   until you get to a managable point.
then some miners will hop over and the see saw begins between the two chains.   Instead of the old pool hopping, maybe we will see chain hopping by miners.
Maybe Organ will come out from walkabout and actual make some money putting together chain hopping strategies.

Or the new branch just dies.   who really knows right now.
the only thing for sure is that a lot of exchanges stole a lot of BCH from accounts.

Article explaining why it took so long to mine first 6 blocks of BCC:

https://medium.com/@jimmysong/bitcoin-cash-difficulty-adjustments-2ec589099a8e

very interesting, I wonder if the big miners will jump in now

Maybe some, short term, but I don't think the bulk of miners are into speculating, and mining bcash would be just that... speculating.

Its simply astonishing at how little understading there is when it comes to Bitcoin or Cryptos in general.

It seems most people here are just for a quick buck rather than understanding how the network functions.

It's people like you with your nose in the air that I avoid in life. A quick buck huh? You own an illegal online casino. Are you kidding me? Take your attitude someone else. Not everyone was blessed to be as intelligent as you. I hope that you will stay out of my threads the next time because I just saw you come into my other thread too. Keep your negativity away from me. It would of been a whole lot easier of you to explain things if you would of cared to share your knowledge. But it looks like you're in here to spam your god aweful casino link. Do not come into my threads anymore you creep.

I'm not talking about you in general.

I read these threads about people overinvesting in GTX 1070/1080 GPUs and then later on realizing that there is something called "Difficulty" and complaining about profits.

They want money now, without realizing how the network works in general.

BCH is doomed. It was al all-in bet on replacing BTC and it failed to get a critical mass of mining power.
The hash rate on BCH needed to be high enough to compensate for the high diff to keep miners
interested. Why mine BCH and get 15% of what you can get mining BTC with the same amount of hash?
It's only a matter of time now.

This. Bit off topic but yeah its easy to see that the quality of the exchange by their decision to distribute BCH. Its technically easy AF. *ehem POLONIEX fing cheaters ehem*

BCC has quite a different diff retarget scheme than BTC has.

Just give it a little time, and see the diff plummet to an acceptable level.


Now;  people with massive farms and turning hashrate on and off;  this will do strange things in a little while.

Time will tell.

Dude it cost on average $5000 per block to mine at current difficulty at .05 cent kw/h, so think about what you are asking.

Be thankful ANY blocks are being found and just wait it out, difficulty will reduce over the next couple blocks.

If you guys look at

https://jochen-hoenicke.de/queue/uahf/#24h

It seems somebody switches miners from time to time between BTC and BCC, because its stuck for hours and then suddently 2 blocks are found right away.

Regarding the difficulty it should go down 20% soon. They made an adjustment to the algo.

https://medium.com/@jimmysong/bitcoin-cash-difficulty-adjustments-2ec589099a8e

Discusses it and seems that block 77 will have a reduced difficulty.


Until then, its wasting money mining it... right now the people mining it are basically donating their hashpower.


There is also  this website

http://bch.xbt.it/

I'm not even gonna try to point any miners to BCH. If any other miners want to, feel free. I'll only consider it if it makes a profit.

If you hash BCH right now, you're not only LOSING profit, you're also losing money on electricity bills.


I'll let ViaBTC do that since they are so adamant on it.