grasshpr
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Activity: 118
Merit: 10
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August 07, 2017, 05:31:05 PM |
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I am mining Bitcoin Cash because I have Fear of Missing Out. While everybody is selling ... I know it's not a popular idea, but this thing may work out. Remember, very few people know about bitcoin. We saw slight interest in Bitcoin - for the first time - from some institutions and the backlog created $100 tx fees. The next time this happens, people may want to use this upgraded version. The fact that everybody is running away makes me think perhaps it was irrational fear.
One thing is for sure. This is going to really compress the timelines to make Segregated Witness and mesh networking fully functional. But what happens if all the mining power leaves once the fees go to "brokerage channels"? Bitcoin SW could experience very long block times ...
It's speculation, but I think this may be on to something over the next couple years. I HODL'd all of my virgin BCH and am putting a little hash power to ViaBTC both as a hedge and because I am tired of this "unknown" entity mining all of the blocks.
Agree its not wise to completely ignore BCH. Before you could just buy (or mine) Bitcoin, put it away and look in a few years time and be happy  And everything else except maybe Ethereum was alt coins that present opportunities but also require time to invest to find best investment options. And Bitcoin was just like a safe heaven. Not anymore, it seems. Times have changed, hedge maybe needed. And whats stopping miners from mining BCH if for some reason(s) it becomes more profitable to do so? Currently its 98 percent more profitable to mine BTC, but its not like its 980 percent difference https://cash.coin.dance/blocksEspecially when BCH is so similar to BTC and its so easy to switch.. |
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"This isn't the kind of software where we can leave so many unresolved bugs that we need a tracker for them." -- Satoshi
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xyzzy099
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Activity: 1062
Merit: 1041
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August 07, 2017, 05:35:25 PM |
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Right this second according to coin dance bitcoin cash is actually more profitable to mine  I don't expect it to and hope it don't last Cut and paste from Coin Dance: It is currently 98% more profitable to mine on the original chain. Maybe you are reading that wrong? |
Libertarians: Diligently plotting to take over the world and leave you alone.
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tekmobile
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August 07, 2017, 05:38:26 PM |
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Right this second according to coin dance bitcoin cash is actually more profitable to mine I don't expect it to and hope it don't last Cut and paste from Coin Dance: It is currently 98% more profitable to mine on the original chain. I think you may be reading that wrong. It is still 98% more profitable to mine the main chain. I know is was 200+ more profitable before then after the disiculty changed it went to around 160% and now with the BCH price rise it's now 98% meaning BCH is more profitable by 2% |
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xyzzy099
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Activity: 1062
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August 07, 2017, 05:41:00 PM |
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Right this second according to coin dance bitcoin cash is actually more profitable to mine I don't expect it to and hope it don't last Cut and paste from Coin Dance: It is currently 98% more profitable to mine on the original chain. I think you may be reading that wrong. It is still 98% more profitable to mine the main chain. I know is was 200+ more profitable before then after the disiculty changed it went to around 160% and now with the BCH price rise it's now 98% meaning BCH is more profitable by 2% Uhm, no. It means just what it says. It is still 98% more profitable to mine Bitcoin. |
Libertarians: Diligently plotting to take over the world and leave you alone.
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tekmobile
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August 07, 2017, 05:47:36 PM |
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Right this second according to coin dance bitcoin cash is actually more profitable to mine I don't expect it to and hope it don't last Cut and paste from Coin Dance: It is currently 98% more profitable to mine on the original chain. I think you may be reading that wrong. It is still 98% more profitable to mine the main chain. I know is was 200+ more profitable before then after the disiculty changed it went to around 160% and now with the BCH price rise it's now 98% meaning BCH is more profitable by 2% Uhm, no. It means just what it says. It is still 98% more profitable to mine Bitcoin. I must be understanding it differently from you but it BTC is more profitable it's only just Can someone else give an option lol if I'm wrong I'll hang my head in shame |
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matt4054
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Activity: 1946
Merit: 1035
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August 07, 2017, 05:50:13 PM |
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I must be understanding it differently from you but it BTC is more profitable it's only just
Can someone else give an option lol if I'm wrong I'll hang my head in shame
What you're missing is the more in "more profitable". If it is 98% more profitable to mine BTC, it means the profitability of BTC vs BCash is 198% (or the inverse, BCash has 51% the profitability of BTC) |
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PilotofBTC
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Activity: 1736
Merit: 1001
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August 07, 2017, 05:51:25 PM |
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Right this second according to coin dance bitcoin cash is actually more profitable to mine I don't expect it to and hope it don't last Cut and paste from Coin Dance: It is currently 98% more profitable to mine on the original chain. I think you may be reading that wrong. It is still 98% more profitable to mine the main chain. I know is was 200+ more profitable before then after the disiculty changed it went to around 160% and now with the BCH price rise it's now 98% meaning BCH is more profitable by 2% Uhm, no. It means just what it says. It is still 98% more profitable to mine Bitcoin. I must be understanding it differently from you but it BTC is more profitable it's only just Can someone else give an option lol if I'm wrong I'll hang my head in shame Not only just... 98% MORE... basically means you will make (almost) 2x (TWICE) as much mining on the original chain. If you mine 1 BCH for the same hash you will mine 1.98 BTC. More profitable is what is says. EDIT: That's wrong actually... profit is based on coins USD price as well as difficulty, not how many you mine. At least, I assume that is how they are calculating this. |
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grasshpr
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Activity: 118
Merit: 10
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August 07, 2017, 05:53:55 PM |
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Yes its still more profitable to mine BTC but the difference is now not as big as it was before. Projected diff adjustment: http://bch.xbt.it/?interval=12009 Aug 2017 07:41:47 difficulty relative to current 13.42% |
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tekmobile
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August 07, 2017, 05:55:21 PM |
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Right this second according to coin dance bitcoin cash is actually more profitable to mine I don't expect it to and hope it don't last Cut and paste from Coin Dance: It is currently 98% more profitable to mine on the original chain. I think you may be reading that wrong. It is still 98% more profitable to mine the main chain. I know is was 200+ more profitable before then after the disiculty changed it went to around 160% and now with the BCH price rise it's now 98% meaning BCH is more profitable by 2% Uhm, no. It means just what it says. It is still 98% more profitable to mine Bitcoin. I must be understanding it differently from you but it BTC is more profitable it's only just Can someone else give an option lol if I'm wrong I'll hang my head in shame Not only just... 98% MORE... basically means you will make (almost) 2x (TWICE) as much mining on the original chain. If you mine 1 BCH for the same hash you will mine 1.98 BTC. More profitable is what is says. EDIT: That's wrong actually... profit is based on coins USD price as well as difficulty, not how many you mine. At least, I assume that is how they are calculating this. Yes it's the dollar value and BCH is about 11% of BTC and difficulty is about 17% lower I read it as 100% means equal > 100 BTC more and <100 BCH is more |
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XCNP
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August 07, 2017, 06:31:19 PM |
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Is there any risk for my BTC private key if I import it into Electron cash wallet to get my BCH !?
Thx
You can use Coinomi wallet in your android phone as they are supporting it perfectly. You can use any private keys of any wallet to claim your BCC and then to keep them in new wallet or transfer at any exchange it is all safe. This is what i did and went all flawlessly for me. |
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PilotofBTC
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Activity: 1736
Merit: 1001
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August 07, 2017, 06:35:49 PM |
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Is there any risk for my BTC private key if I import it into Electron cash wallet to get my BCH !?
Thx
You can use Coinomi wallet in your android phone as they are supporting it perfectly. You can use any private keys of any wallet to claim your BCC and then to keep them in new wallet or transfer at any exchange it is all safe. This is what i did and went all flawlessly for me. Yes, recommended. I now use Coinomi instead of Mycelium (bitcoin) and Jaxx (eth) and have everything in Coinomi, including the Bitcoin Cash. Make sure to use the advanced option to set the BCH wall derivation path correctly as they specify in their docs. |
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tekmobile
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August 07, 2017, 06:37:05 PM |
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Right this second according to coin dance bitcoin cash is actually more profitable to mine I don't expect it to and hope it don't last Cut and paste from Coin Dance: It is currently 98% more profitable to mine on the original chain. I think you may be reading that wrong. It is still 98% more profitable to mine the main chain. I know is was 200+ more profitable before then after the disiculty changed it went to around 160% and now with the BCH price rise it's now 98% meaning BCH is more profitable by 2% Uhm, no. It means just what it says. It is still 98% more profitable to mine Bitcoin. I must be understanding it differently from you but it BTC is more profitable it's only just Can someone else give an option lol if I'm wrong I'll hang my head in shame Not only just... 98% MORE... basically means you will make (almost) 2x (TWICE) as much mining on the original chain. If you mine 1 BCH for the same hash you will mine 1.98 BTC. More profitable is what is says. EDIT: That's wrong actually... profit is based on coins USD price as well as difficulty, not how many you mine. At least, I assume that is how they are calculating this. Yes it's the dollar value and BCH is about 11% of BTC and difficulty is about 17% lower I read it as 100% means equal > 100 BTC more and <100 BCH is more Just ran the numbers through a calculator and it appears I could have been wrong 100% is twice as profitable so it's slightly less than twice as profitable on Bitcoin BTC  I'll show myself out the door  |
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Lindsey-Crypto
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August 07, 2017, 06:44:18 PM |
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Meanwhile 98 minutes to get my 10 confirmations on bittrex; it`s getting better...
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2012
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Activity: 1526
Merit: 1003
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August 07, 2017, 06:57:01 PM |
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Meanwhile 98 minutes to get my 10 confirmations on bittrex; it`s getting better...
This network is getting stable so in future confirmation will get reduced to standard confirmation. I think BCH will grow as altcoin that is it's fate and this way it will survive for long term. |
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AltcoinScamfinder
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August 07, 2017, 07:01:55 PM |
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200 Bitcoin Cash bought at $210 average, and sold at $300. Works for me.
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FOR RENT.
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Mozdalifa17
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August 07, 2017, 07:06:41 PM |
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i don't believe in BCc but it is moving very fast so enjoy collecting nice profit
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wildbud
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August 07, 2017, 07:08:46 PM |
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i don't like BCc either  But really hope you will collect nice profit  |
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Lindsey-Crypto
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August 07, 2017, 07:11:07 PM |
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200 Bitcoin Cash bought at $210 average, and sold at $300. Works for me.
sounds like lambo time ---- can`t complain, also still made some money with this free cash-trash; what about trading with futures on unconfirmed transactions? |
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chinapeople
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August 07, 2017, 07:21:29 PM |
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200 Bitcoin Cash bought at $210 average, and sold at $300. Works for me.
sounds like lambo time ---- can`t complain, also still made some money with this free cash-trash; what about trading with futures on unconfirmed transactions? Jajaja 2700 US will barely get lubrication changed on lambo.  |
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tekmobile
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August 07, 2017, 07:23:20 PM |
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I think Bitcoin Cash will be know as the REAL Bitcoin.
And that segwit trash G.Maxwell version of bitcoin ,
will be an altcoin called LNCOIN or called offchain bitshitcoin, behind closed doors.
Example:
Once Segwit & LN are functional, you will no longer give a Bitcoin transaction ID as proof of payment,
you will have to give LN Counterfeit Transaction ID as proof of payment. (Might as well use paypal or a bank as LN)
IE: The reason Bitcoin 1MB should now be called an Altcoin called LNCoin.
With Bitcoin Cash , the Bitcoin Transaction IDs will always be proof of payment.
╥Aztek
You mean over the laughing stock it is now |
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