Bitcoin Forum
August 21, 2018, 04:54:44 AM *
News: Latest stable version of Bitcoin Core: 0.16.2  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: why do you people say miners have switched to bitcoin cash?  (Read 255 times)
Red-Apple
Hero Member
*****
Offline Offline

Activity: 980
Merit: 567



View Profile
November 11, 2017, 02:17:55 PM
 #1

specially since the number of unconfirmed transactions has grown a lot, i keep reading different people say bitcoin miners have switched over to bitcoin cash.

although that seems like something they may do because of the lower difficulty and the current ongoing pump, but i can not see any change in the way bitcoin blocks are mined! there is still the same time between the blocks as before with same ups and downs. the hashrate also looks the same!

so what is it  that i am missing here? how do you say they are switching?

.BITSLER.                 ▄███
               ▄████▀
             ▄████▀
           ▄████▀  ▄██▄
         ▄████▀    ▀████▄
       ▄████▀        ▀████▄
     ▄████▀            ▀████▄
   ▄████▀                ▀████▄
 ▄████▀ ▄████▄      ▄████▄ ▀████▄
█████   ██████      ██████   █████
 ▀████▄ ▀████▀      ▀████▀ ▄████▀
   ▀████▄                ▄████▀
     ▀████▄            ▄████▀
       ▀████▄        ▄████▀
         ▀████▄    ▄████▀
           ▀████▄▄████▀
             ▀██████▀
               ▀▀▀▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄            
▄▄▄▄▀▀▀▀    ▄▄█▄▄ ▀▀▄         
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄      
█  ▀▄▄  ▀█▀▀ ▄      ▀████   ▀▀▄   
█ █▄  ▀▄   ▀████       ▀▀ ▄██▄ ▀▀▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█  ▀▀       ▀▄▄ ▀████      ▄▄▄▀▀▀  █
█            ▄ ▀▄    ▄▄▄▀▀▀   ▄▄  █
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█ ▄▄   ███   ▀██  █           ▀▀  █ 
█ ███  ▀██       █        ▄▄      █ 
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀  
▀▄            █        ▀▀      █  
▀▀▄   ███▄  █   ▄▄          █   
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀    
▀▀▄   █   ▀▀▄▄▄▀▀▀         
▄▄▄▄▄▄▄▄▄▄▄█▄▄▀▀▀▀              
              ▄▄▄██████▄▄▄
          ▄▄████████████████▄▄
        ▄██████▀▀▀▀▀▀▀▀▀▀██████▄
▄     ▄█████▀             ▀█████▄
██▄▄ █████▀                ▀█████
 ████████            ▄██      █████
  ████████▄         ███▀       ████▄
  █████████▀▀     ▄███▀        █████
   █▀▀▀          █████         █████
     ▄▄▄         ████          █████
   █████          ▀▀           ████▀
    █████                     █████
     █████▄                 ▄█████
      ▀█████▄             ▄█████▀
        ▀██████▄▄▄▄▄▄▄▄▄▄██████▀
          ▀▀████████████████▀▀
              ▀▀▀██████▀▀▀
            ▄▄▄███████▄▄▄
         ▄█▀▀▀ ▄▄▄▄▄▄▄ ▀▀▀█▄
       █▀▀ ▄█████████████▄ ▀▀█
     █▀▀ ███████████████████ ▀▀█
    █▀ ███████████████████████ ▀█
   █▀ ███████████████▀▀ ███████ ▀█
 ▄█▀ ██████████████▀      ▀█████ ▀█▄
███ ███████████▀▀            ▀▀██ ███
███ ███████▀▀                     ███
███ ▀▀▀▀                          ███
▀██▄                             ▄██▀
  ▀█▄                            ▀▀
    █▄       █▄▄▄▄▄▄▄▄▄█
     █▄      ▀█████████▀
      ▀█▄      ▀▀▀▀▀▀▀
        ▀▀█▄▄  ▄▄▄
            ▀▀█████
[]
1534827284
Hero Member
*
Offline Offline

Posts: 1534827284

View Profile Personal Message (Offline)

Ignore
1534827284
Reply with quote  #2

1534827284
Report to moderator
1534827284
Hero Member
*
Offline Offline

Posts: 1534827284

View Profile Personal Message (Offline)

Ignore
1534827284
Reply with quote  #2

1534827284
Report to moderator
1534827284
Hero Member
*
Offline Offline

Posts: 1534827284

View Profile Personal Message (Offline)

Ignore
1534827284
Reply with quote  #2

1534827284
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1534827284
Hero Member
*
Offline Offline

Posts: 1534827284

View Profile Personal Message (Offline)

Ignore
1534827284
Reply with quote  #2

1534827284
Report to moderator
pitham1
Legendary
*
Offline Offline

Activity: 1232
Merit: 1000


View Profile
November 11, 2017, 02:27:09 PM
 #2

specially since the number of unconfirmed transactions has grown a lot, i keep reading different people say bitcoin miners have switched over to bitcoin cash.

although that seems like something they may do because of the lower difficulty and the current ongoing pump, but i can not see any change in the way bitcoin blocks are mined! there is still the same time between the blocks as before with same ups and downs. the hashrate also looks the same!

so what is it  that i am missing here? how do you say they are switching?

There are no switching costs. So the decision to switch is purely driven by which is more profitable (price/current hashing power). So even if some miners haven't switched to Bitcoin Cash, they should...

dothebeats
Legendary
*
Offline Offline

Activity: 1554
Merit: 1063

Deleted posts: 91


View Profile
November 11, 2017, 02:39:14 PM
 #3

BCH is more profitable to mine than bitcoin in the moment by 10%, and as a miner who thinks about profit, this is an opportunity that shouldn't pass easily. The building FOMO on BCH's market would soon collapse, and after that bitcoin would jump ump in price and have its miners back hashing the same coins again.

mobnepal
Legendary
*
Offline Offline

Activity: 1120
Merit: 1005


Make winning bets on sports with Sportsbet.io!


View Profile
November 11, 2017, 02:42:49 PM
 #4

BCH is more profitable to mine than bitcoin in the moment by 10%, and as a miner who thinks about profit, this is an opportunity that shouldn't pass easily. The building FOMO on BCH's market would soon collapse, and after that bitcoin would jump ump in price and have its miners back hashing the same coins again.
I also think same, We have seen this type of temporary switch between bitcoin cash and bitcoin before. When mining difficulty will be adjusted in bitcoin and bitcoin cash, difficulty for bitcoin cash will rise like hell because lots of miners are mining bitcoin cash right now but difficulty for bitcoin will lower down which make mining bitcoin more profitable than bitcoin cash again.

Its just a temporary shift.

   ▄▄██████▄▄
  ████████████
███▄▄
 ██████████████▀▀▀██▄
████████████████   ▀██▄
████████████████     ▀██
██████████████       ██▌
██████████████        ▐██
██▌▀▀██████▀▀         ▐██
▐██                   ██▌
 ██▄                 ▄██
  ▀██▄             ▄██▀
    ▀██▄▄▄     ▄▄▄██▀
      ▀▀█████████▀▀





███████████████████████████
███████████▀▀         ▀▀███
████████▀   ▄▄██▄  ▀█▄  ▀██
██████▀  ▄████████▄  ▀█  ██
████▀  ▄██████▄▀  ██▄    ██
███▀  ██████▄▀  ▄▀████▄  ██
██▀  █████▄▀  ▄▀██████  ▄██
██  ▀███▄▀  ▄▀███████  ▄███
██    ▀██▄▄▀███████▀  ▄████
██  █▄  ▀████████▀  ▄██████
██▄  ▀█▄  ▀██▀▀   ▄████████
███▄▄         ▄▄███████████
███████████████████████████
███████████████████████████
████████▀▀       ▀▀████████
█████▀   ▄ ▀███▀ ▄   ▀█████
████  ▄████▄ ▀ ▄████▄  ████
███  ▄ ▀███▀ ▄ ▀███▀ ▄  ███
██  ▄██ ▀▀ ▄███▄ ▀▀ ██▄  ██
██  █▀ ▄█ ███████ █▄ ▀█  ██
██   ▄███▄ █████ ▄███▄   ██
███  ████▀ ▄▄▄▄▄ ▀████  ███
████  ▀ ▄ ▀█████▀ ▄ ▀  ████
█████▄  ▀▀▄ ███ ▄▀▀  ▄█████
████████▄▄       ▄▄████████
███████████████████████████
████████     INDUSTRY LEADING BITCOIN SPORTSBOOK     ████████
LIVE
STREAMING
DAILY PRICE
BOOSTS
LIVE DEALER
CASINO
FAST & SECURE
PAYMENTS
███████████████████████████
████████▀▀       ▀▀████████
█████▀  ▄█▄  ▀  ▄▄   ▀█████
████  ▄  ▀    ▀█████▄  ████
███  ▀█▀   ▀█▄   ▀▀██▄  ███
██  ▄    █▄  ▀██▄▄  ▀█▄  ██
██  █▀ ▄  ▀█▄  ▀███▄  ▀  ██
██    ▄██  ▀██▄  ▀███▄   ██
███  ▀████  ▀███▄  ▀█▀  ███
████  ▀████  ▀████▄    ████
█████▄   ▀▀█▄  ▀▀▀   ▄█████
████████▄▄       ▄▄████████
███████████████████████████
███████████████████████████
████████▀▀ █████ ▀▀████████
█████▀    ▄█████▄    ▀█████
██████▄▄█▀▀ ▄▄▄ ▀▀█▄▄██████
███▀███▀ ▄███▀███▄ ▀███▀███
██   █ ▄██▀     ▀██▄ █   ██
██   █ ██         ██ █   ██
██   █ ▀██▄▄█ █▄▄██▀ █   ██
███▄███▄ ▀██▄▄▄██▀ ▄███▄███
██████▀▀█▄▄ ▀▀▀ ▄▄█▀▀██████
█████▄    ▀█████▀    ▄█████
████████▄▄ █████ ▄▄████████
███████████████████████████





..WIN WITH US!..
BrewMaster
Hero Member
*****
Offline Offline

Activity: 910
Merit: 624


There is trouble abrewing


View Profile
November 11, 2017, 02:44:03 PM
 #5

specially since the number of unconfirmed transactions has grown a lot, i keep reading different people say bitcoin miners have switched over to bitcoin cash.

although that seems like something they may do because of the lower difficulty and the current ongoing pump, but i can not see any change in the way bitcoin blocks are mined! there is still the same time between the blocks as before with same ups and downs. the hashrate also looks the same!

so what is it  that i am missing here? how do you say they are switching?

There are no switching costs. So the decision to switch is purely driven by which is more profitable (price/current hashing power). So even if some miners haven't switched to Bitcoin Cash, they should...

there is actually a huge cost.
when you mine bitcoin and its derivatives you will have to wait for 100 blocks before you are able to spend the block reward. and that means waiting for a highly volatile price before being able to get the fiat value of what you mined and it becomes even riskier when we are talking about bitcoin cash.

and last time they switched and mined 1000 blocks per day, the price of BCH crashed right after they got their rewards and dumped it.

right now they have mined 38 blocks in past hour instead of normal 4

bitfocus
Member
**
Offline Offline

Activity: 294
Merit: 11


View Profile
November 11, 2017, 02:46:19 PM
 #6

I believe this is just a temporary shift as it seems BCH mining is more profitable than BTC mining for the time being.

◤     4NEW     ◥     | ▌|   THE WORLD'S FIRST TANGIBLE WASTE TO ENERGY BLOCKCHAIN   | ▌|     ◤     4NEW     ◥
✥     ANN Thread     ✥     Whitepaper     ✥     Facebook     ✥     Twitter     ✥     Telegram     ✥
▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰▱▰
HasHe
Hero Member
*****
Offline Offline

Activity: 826
Merit: 500



View Profile
November 11, 2017, 03:04:57 PM
 #7

Bitcoin price has surged almost 40% than its price in august and now its price is $1,263.Bitcoin cash mining seems to be 13.6% more profitable than bitcoin mining.We have already witnessed such switching of miners from BTC to BCH and once again to BTC.But most of the traders seem to have switched from BTC TO BCH now since its price is being pumped high.

stompix
Hero Member
*****
Offline Offline

Activity: 798
Merit: 660



View Profile
November 11, 2017, 03:09:30 PM
 #8

specially since the number of unconfirmed transactions has grown a lot, i keep reading different people say bitcoin miners have switched over to bitcoin cash.

although that seems like something they may do because of the lower difficulty and the current ongoing pump, but i can not see any change in the way bitcoin blocks are mined! there is still the same time between the blocks as before with same ups and downs. the hashrate also looks the same!

so what is it  that i am missing here? how do you say they are switching?

Uncofirmed transactions have nothing to do with mining power.
This is not like digging for coal where more miners means more tonnes of coal.
The size of the blocks and the maximum tx/sec is the second with 1 peta or 1 kb of hashing power.

The rumors are based on this:



BCH is more profitable to mine than bitcoin in the moment by 10%, and as a miner who thinks about profit, this is an opportunity that shouldn't pass easily. The building FOMO on BCH's market would soon collapse, and after that bitcoin would jump ump in price and have its miners back hashing the same coins again.


BCH is more profitable because of their f up algorithm that mines blocks way to fast.
They are already almost 10k blocks ahead of the original chain.

right now they have mined 38 blocks in past hour instead of normal 4

THIS!
At the current rate they might reach the reward halving by Christmas.
And that should be really funny. With no tx fee (as they claim) let's see who will still mine.

Kprawn
Legendary
*
Offline Offline

Activity: 1582
Merit: 1046


One of the world's leading Bitcoin-powered casinos


View Profile
November 11, 2017, 03:53:03 PM
 #9

The miners follow profitability. They will switch back and forth between the most profitable chain or fork as the situation

change. At the current moment the difficulty is lower at Bitcoin Cash, so a lot of miners are moving there. There are also a

lot more activity there ..than usual, so they want a piece of the miner fees that are being generated there. There are also

some big mining farms who follow the guidance of the "inner circle of friends" ....Roger Ver and his minions.  Wink

    ▀   ▄   ▀
▀      ███  ▄   ▀
    ▀   ▄  ███  ▄   ▀
▀      ███     ███  ▄   ▀
    ▀   ▄   ▀   ▄  ███
▀      ███  ▄  ███      ▀
    ▀   ▄  ███  ▄   ▀
▀      ███     ███  ▄   ▀
    ▀   ▄   ▀   ▄  ███
▀      ███  ▄  ███      ▀
    ▀   ▄  ███      ▀
▀      ███      ▀
    ▀       ▀
Bitcasino.io
▄        ██ ██          ▄
▄ ▀▀     ██████████▄       ▀▀ ▄
▄▀▄█▀       ███   ████      ▀█▄▀▄
▐█ ▄         ███▄▄▄███▀        ▄ █▌
▄ ▀▄▄        ███▀▀▀▀███▄      ▄▄▀ ▄
▀▀▄▀▄        ███    ████      ▄▀▄▀▀
██▄█ ▄     ▄▄███▄▄▄▄███▀       █▄██
▄▄ █      ▀▀▀██▀██▀▀▀        █ ▄▄
▀▀▀ █▌       ▀▀ ▀▀         ▐█ ▀▀▀

▀█▄▀ █                   █ ▀▄█▀
▄██ ▀█▌▄           ▄▐█▀ ██▄

▄██ ▄▀ ▀▀   ▀▀ ▀▄ ██▄
▀▀▀▄█▀   ▀█▄▀▀▀
...Welcome offer...▄█████████████████████████▄
███████████████████████████
████████████████▀     ▐████
███████████████       ▐████
██████████████▌   ▐████████
██████████████▌   ▐████████
███████████           █████
███████████          ▐█████
██████████████▌   ▐████████
█████████████▌   ▐████████
██████████████▌   ▐████████
██████████████▌   ▐████████
▀█████████████▌   ▐███████▀
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!