Bitcoin Forum

Correction: The observation below was based on ViaBTC mining pool only.  

I have been observing the BTC and BCH price and the hashrate all day today and I found this interesting correlation between BTC and BCH:
BCH has about 6% of hashrare of BTC and so as its price to BTC' price.

The prices of BCH and BTC are about $210 and $3234, respectively, at this moment.  Whereas the hashrate is 24 petahash for BCH and 378P for BTC.  Both of the price and the hash ratio are around 6.3% to 6.5%.

Let's see if this ratio relationship, BCH price/BTC price = BCH hash/BTC hash, will continue to hold for at least  a few days.

 Six percent seems about right but where did you get the hashrates you quoted?  Bitcoin has been over 6 Exahashes/s since July of this year; the 378P number is at least 2 years old.

This might just mean that the market values hashrate as a per dollar hashing amount of value.

Those ratios exist because mining pools had been saying before the fork that they intended to put a percentage of hashing power into BCC relative (and directly proportional) to how BCC was trading against BTC. It makes sense, really, since they basically get the same amount of value per terahash (or whatever amount of hashing power you want to use) and they help to perpetuate both chains. While your own (and my) opnions on the longevity of BCC can be whatever they want, miners run a business first and foremost.

Well i think if the BCH's hashrate increase price of bitcoins cash will be rise too, it interesting about correlation between bitcoins cash BCH and bitcoins BTC related with hashrate and the price, it can be used as the data for analisys fundamental price of bitcoins and bitcoins cash, but i still don't have enough of data about it, will follow the growing of BCH's hashrate and its price.

That is pretty interesting, where is a good place to monitor BCH's current hashrate? Anyone know?

Does this correlation pop up anywhere else? I wonder if it used to when it just a few alts.

I'm not going to lie though, I think the plan with BCH is to let the hype die down, let everyone dump their coins, then pump the shit out of them after they accumulate a good amount of them. I wish I sold earlier but I was "playing it safe", I guess I can't complain, they didn't lie so far when they told us "free money" haha.

I'm pretty sure the people that sold at 0.35+ probably sold at the highest it will ever be though.

Most altcoins have their highest price for a long time if not forever the moment they get listed on the exchanges, nothing exceptional here

https://pool.viabtc.com/

Its currently stands at 24 for BTC and 277 for BTC which is similar figure as the OP stated.


I don't know, but this is the first time I saw it though. Which is really interesting to know. I don't know if this would hold in the long run because its too early to tell specially that BCH has just started a few days ago. It will remain to be seen though it this correlation holds.

those numbers seem to be only the hashrate that the viabtc mining pool can manage not the total hashrate of the total network.
you should look at the other column saying "Network HashRate" which seems to be total, but i am not sure how accurate those numbers are. 3208 P and 6718 P

I have to admit - the BCH hashrate I stated here is wrong; it is only from the viabtc pool. The actual hashrate should be much larger.  Sorry, My bad!   :-\

Right now, they are struggling with profitability issue because the difficulty setting is too high.  But I do not know how they going to solve the profitability problem without compromising the block solving time and the coin supply.  Currently, it takes about 10 minutes for both the BCH and BTC to solve a block (regardless of how many transactions in it) and the difficulties is adjusted accordingly.  Since the price of BCH is much lower, the BCH miners will need to get the reward from the 7 extra mbs of transactions to make up for the profit.

Again, very sorry for the wrong numbers!!

If there is a new creations then there is a price increase in US dollars value, and there is still much to do when there is a new creation?

Apologies for dumb question, but I read somewhere that BCH will have a difficulty adjustment at block 478808, currently at block 478665. Will this change the profitability equation significantly and lure miners to BCH? Should be about a week till we hit 478808.

It was very hard for people to sell them in the beginning as it took a long time to process the block and also many exchanges do not support it.


Yes, you are correct.  I realized that in morning and make a correction statement it the post. 

I would assume that soon, they will need to adjust it so that it will take only 10 minutes to process a block, despite how big the block size is.  This is to synchronize with the satoshi's original coin supply time table so that by year 2140, the total supply will exhaust at 21m coins.  In order to be profitable, the miners will need to be get majority of the reward from the transaction fees as the BCH value is only 6% of BTC.   (They get 7 more times of transaction fees than BTC miners as their block is 8x bigger.  This assumes that people are willing to pay similar fees for BCH as for BTC.)