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CryptoBry
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August 18, 2017, 02:28:14 PM |
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And I am hoping that there would be more miners who will shift their focus on BitCoinCash (BCH). BCH will have a place in the sea of so many alternative coins. In fact, its value is right now going up. I am sure there are many people who are happy to know of this latest development. I am not a miner though and I am not planning to be one since it can be expensive to invest in mining equipment. |
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BrewMaster
Legendary
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Activity: 2114
Merit: 1292
There is trouble abrewing
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August 18, 2017, 02:39:31 PM |
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that is only because of the recent pump that whales did in the past 30 hours (about 82% pumped) combined with the fact that they manually changed the difficulty and reduced it a lot.
but you still need a large investment in ASICs for mining, a cheap electricity, a place to run a mining farm or at least a couple of these to produce enough hashrate and the willingness to take the risk of doing it because you can not spend a coinbase transaction (the mining reward) right away. it needs to mature and price of BCC is very unstable.
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There is a FOMO brewing...
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bamboylee
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August 18, 2017, 03:59:25 PM |
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Maybe for now while the difficulty is low but would it still remain more profitable when difficulty starts climbing up. Since you are investing on hardware, would it still be more profitable, long term, if you mine bitcoin?
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skyline247
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August 18, 2017, 04:20:31 PM |
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Doesn't this percentage change on a daily basis? The prices of each go up and down by 5% every day... it isn't fair to say BCC is always 2% more profitable to mine than Bitcoin. |
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Funeral Wreaths
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August 18, 2017, 04:40:04 PM |
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And I am hoping that there would be more miners who will shift their focus on BitCoinCash (BCH). BCH will have a place in the sea of so many alternative coins. In fact, its value is right now going up. I am sure there are many people who are happy to know of this latest development. I am not a miner though and I am not planning to be one since it can be expensive to invest in mining equipment. hoping it would happen... i just even knew recently that bitcoin cash already has its own mining, well since before I really wanted to try mining but i guess it would be too rough for me, considering the expenses for equipments and organize how to maintain my mining. it would also be great if you are an early adopter in mining bitcoin cash, those chances and possibilities on the price to become higher is really desired. but still it depends, there are also daily changes to ones market. |
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ardentvolcanoes
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August 18, 2017, 04:46:24 PM |
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Maybe for now while the difficulty is low but would it still remain more profitable when difficulty starts climbing up. Since you are investing on hardware, would it still be more profitable, long term, if you mine bitcoin?
good question mate and its really a gamble to change and divert our rig to mine this project better to seek more information before switching I guess the previous pumped drives miner to try to switch over but if the value dumped again most of those miners will go back as well. |
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Carlsen
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August 18, 2017, 04:57:41 PM |
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Strange thing.
The blocksize is very often under 100kb.
To me that shows that not very much transactions are made. And the transaction fee is way lower than on the bitcoin network.
So the only thing that would make mining worth is the bounty for finding a block, or am i missing something here?
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iluvpie60
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August 18, 2017, 05:25:46 PM |
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that is only because of the recent pump that whales did in the past 30 hours (about 82% pumped) combined with the fact that they manually changed the difficulty and reduced it a lot.
but you still need a large investment in ASICs for mining, a cheap electricity, a place to run a mining farm or at least a couple of these to produce enough hashrate and the willingness to take the risk of doing it because you can not spend a coinbase transaction (the mining reward) right away. it needs to mature and price of BCC is very unstable.
Difficulty is going down by another projected 50% to 60% on Sunday. If the current price of BTC/BCH stays the same as it is right now, BCH will be about 30% more profitable to mine. Miners want profit. It is an alarming thing to see h appening. It looks like the bitcoin community is going to have to continue arguing their side of which coin is better, the split has still not been healed from what I see and read here. |
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Gaaara
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August 18, 2017, 05:36:55 PM |
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It is not a bad thing for bitcoin though, they taugh that the split will bring problem to bitcoin core but in the end bitcoin core is still the number one coin in crypto world. Nevertheless if the price of BCH will be consistent I intend to be mining the profit is way too high for me not to consider and it is unexpected so probably I'll buy mining equipments then try to earn some decent amount.
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reflector
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August 18, 2017, 05:42:07 PM |
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Why not bitcoin and other altcoins as well. You can mine bitcoins to all profitable altcoins that would be my opinion in this case. Purchase Hash rate according to your need and do mining to see the profit. However thanks for the information and the link. |
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European Central Bank
Legendary
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Activity: 1288
Merit: 1087
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August 18, 2017, 06:25:21 PM |
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the miners who count probably haven't sold on a exchange in years.
they'll have otc deals with buyers that have been set up for years. do you think those buyers are gonna be impressed when they have a load of bcash dumped on them instead of the bitcoin they were expecting?
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exstasie
Legendary
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Activity: 1806
Merit: 1521
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August 18, 2017, 06:42:51 PM |
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Doesn't this percentage change on a daily basis? The prices of each go up and down by 5% every day... it isn't fair to say BCC is always 2% more profitable to mine than Bitcoin. You're right, but that's not the point here. Before this price increase, rational miners (without deeper motives) wouldn't mine BCH. Now, it might be worth it for some to defect, especially if BCH/BTC continues to rise. If Jihan Wu really wanted to make a power grab with Roger Ver, the stage would be set. How would it look: BCH holds value when everyone thought it would die (done), then it gains significantly against BTC (in process), then hash power starts defecting to the BCH chain. Remember, Bitmain is rumored to control a majority of hash power! |
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Hydrogen
Legendary
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Activity: 2562
Merit: 1441
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August 18, 2017, 07:19:29 PM |
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Difficulty is going down by another projected 50% to 60% on Sunday.
If the current price of BTC/BCH stays the same as it is right now, BCH will be about 30% more profitable to mine.
Miners want profit. It is an alarming thing to see h appening. It looks like the bitcoin community is going to have to continue arguing their side of which coin is better, the split has still not been healed from what I see and read here.
While it may look good short term. Over the long term it could mean bch price will implode as a bubble the way ethereum did from being artificially overvalued and unsustainable by its transaction volume/intrinsic value and other fundamental metrics. Also if the mining difficulty arbitrarily changes & developers make up whatever rules they want to, when they want to, that could be viewed as an unreliable and immature way to approach finance, which could cause many investors to lose faith in bch as a whole. |
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freebutcaged
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August 18, 2017, 08:03:50 PM |
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Whatever that could fly your coin mate, why not lets do cloud mining some BCC or BCH, you haven't yet decided what to call your fork coin and now
Promoting it like hell. if there is any cloud mining plans you are offering and is available right now with guaranteed profitability, then count me in but
If you suddenly decide to go crazy shit on me after a few weeks with the excuses of difficulty increasing I'd like to have a refund then, that's the way
I like to ride BCH and it's supporters.
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Bingooop
Newbie
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August 18, 2017, 08:07:13 PM |
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Maybe for now while the difficulty is low but would it still remain more profitable when difficulty starts climbing up. Since you are investing on hardware, would it still be more profitable, long term, if you mine bitcoin?
Mining is good but is very dangerous because it cannot insure the best currency in the world and also the world together with sitting in the Future to the lowclass also it is the best option for you to |
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pitham1
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Activity: 1232
Merit: 1000
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August 18, 2017, 08:19:21 PM |
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but you still need a large investment in ASICs for mining, a cheap electricity, a place to run a mining farm or at least a couple of these to produce enough hashrate and the willingness to take the risk of doing it because you can not spend a coinbase transaction (the mining reward) right away. it needs to mature and price of BCC is very unstable.
The volatility in price is a given. Even the price of BTC has fluctuated a lot, so I wouldn't put that down as a disadvantage for BCH. Even if they can't spend the mining reward right away, they will just have to wait around for the right moment. |
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WatchMaker
Full Member
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Activity: 518
Merit: 104
PUFFY FINANCE
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August 18, 2017, 10:44:36 PM |
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Sorry, do you know how to mine BCC? May I mine BCC with my PC? Thank you, sir. |
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European Central Bank
Legendary
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Activity: 1288
Merit: 1087
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August 18, 2017, 10:54:06 PM |
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Sorry, do you know how to mine BCC? May I mine BCC with my PC?
Thank you, sir.
nope. you'd still need a dedicated mining machine. the difficulty would have to drop super radically for that to be possible, and there are thousands of old miners and gpus that would pick up the slack before a pc could do it. |
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