Bitcoin Cash BCH Mining At Work
Within days, we could have three versions of bitcoin, including Bitcoin (BTC), Bitcoin Cash (BCH), and Bitcoin Gold (BTG). What’s the difference between these three cryptocurrencies? Will BTG actually launch? Find out everything you need to know about BTC vs BCH vs BTG – including how to take advantage of the upcoming hard fork. Could There Be Three or Four Versions Of Bitcoin Before The End Of November? It’s entirely possible that there will be four total versions of bitcoin within the next few weeks.
Unknown Bitcoin Cash Miners Control Almost 97% of the. And a few other pools support mining BCH. The Bitcoin Cash mining difficulty is scheduled to adjust in.
If all proposed hard forks are successful, then we’ll have four separate bitcoin versions, including: • • • • Of course, there’s also a reasonable possibility that we’ll have just two versions of bitcoin, including the two we have today: and. When Will Bitcoin Gold Launch? Will It Launch? Bitcoin Gold is from the main at block 491407. The block is scheduled to take place on or around October 25, 2017. What Are The Differences Between The Three Versions Of Bitcoin?
How does BTC vs BCH vs BTC break down? How do the three versions of bitcoin compete against each other? @Rajkumar: You mean coinbase owes you some bitcoin. They have your coins in their addresses, and their address now has the same amount of BTG (and BCH) as it does BTC. When a fork happens, Coinbase does not keep the forked coins, but they are not releasing them to users at this time for safety reasons.
At some point in the future they will send them to you, but who knows what they will be worth at that time. More info: https://support.coinbase.com/customer/portal/articles/2892196-bitcoin-gold-faq.
With almost 6,000 blocks mined on the Bitcoin Cash network, now is a good time to check some statistics. It is still less profitable to mine than Bitcoin, which is not surprising.
Bitcoin Cash has around 8% of the value of Bitcoin itself right now. The blockchain operates at 13% of the original chain’s difficulty as well. Moreover, the BCH is no longer the longest blockchain either. All of these developments are pretty interesting and somewhat surprising. One could argue has not achieved all that much. That would be a rather shortsighted statement, though. After all, no one expected this project to stick around for as long as it has.
It still has a fair bit of support from mining pools and miners alike, which is good to see. Moreover, the BCH value has somewhat stabilized around $550 as well. Unfortunately, it is inferior to Bitcoin in all other aspects one can think of right now.
Bitcoin Cash Statistics Aren’t Looking Great First of all, the Bitcoin Cash is still extremely low. The mining difficulty adjustment has always been subject to some wild speculation. Some people feel miners can effectively trick the EDA into allowing them to mine more coins accordingly. Whether or not this is effectively the case, will always remain a bit of mystery. It is certainly true the mining difficulty adjustment algorithm shakes things up a bit.
Despite this lower difficulty, Bitcoin Cash is still pretty unprofitable to mine. It has been more profitable than BTC mining on two occasions so far. For the majority of the time, however, it won’t net you any major income.
Unless you believe BCH will double or triple in value, that is. Should that be the case, the people mining BCH right now will have a big payday to look forward to.
Dash DASH Data Mining Calculator. It is unclear what the future holds for this altcoin in this regard. Additionally, it appears the blockchain is no longer the longest chain. Although it is only a minor title to obtain, it would give Bitcoin Cash some advantage over Bitcoin.
With this factor out of reach as well, there is no reason to consider BCH is superior in any regard. It has all of the traits of an altcoin and not much is changing in this regard. That doesn’t mean it’s not worth paying attention to. However, it will not rival Bitcoin in any significant manner any time soon. Header image courtesy of About JP Buntinx JP is a freelance copywriter and SEO writer who is passionate about various topics.
The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.