4 ms·

The headline is incorrect, the graph shows the RELATIVE hashrate of Bitcoin and Bitcoin Cash. The absolute hashrate of the Bitcoin network is still increasing

The headline is incorrect, the graph shows the RELATIVE hashrate of Bitcoin and Bitcoin Cash. The absolute hashrate of the Bitcoin network is still increasing [0]. All this chart demonstrates is that the hashrate of Bitcoin Cash is increasing faster than the hashrate of Bitcoin. This also means that NEW hashing power is coming online, not that hashing power is necessarily switching from Bitcoin to Bitcoin Cash (even if it's currently more profitable to mine Bitcoin Cash than Bitcoin [1]). [0] https://bitcoinwisdom.com/bitcoin/difficulty https://bitcoinwisdom.com/bitcoin/difficulty [1] https://cash.coin.dance/blocks https://cash.coin.dance/blocks

sctb 9y ago
We've updated the headline from “Bitcoin's hashpower dropped 20% as miners migrate to Bitcoin Cash”.
- tylersmith 9y ago
  "Bitcoin mining profitability dropped 20% as miners migrate to Bitcoin Cash"
cesarb 9y ago
> even if it's currently more profitable to mine Bitcoin Cash than Bitcoin It seems that is the case if you consider only the block reward, but not if you also consider the transaction fees: http://fork.lol/reward/blocks http://fork.lol/reward/blocks The BTC chain has more transactions per block than the BCH chain, and the per-transaction fee is also higher.
- TD-Linux 9y ago
  No, it's still more profitable to mine BCH even considering the transaction fees, see the home page of fork.lol: http://fork.lol/ http://fork.lol/ The graph you linked is not considering block difficulty.
- sbenitoj 9y ago
  Transaction fees, even when they're really expensive like they currently are on the Bitcoin chain, are still minimal in comparison to the block reward of 12.5 Bitcoins (or about $51,250 at current prices) per block found. Here's a link to a recent full block found on the Bitcoin chain, total transaction fees were 0.43 BTC (or about $1,750). Recent Full Block on Bitcoin Chain - https://blockchain.info/block/00000000000000000112ebb0462fe52aa5f75c34bca21c83eed6a5ef89e95437 https://blockchain.info/block/00000000000000000112ebb0462fe5...
ojr 9y ago
the hashrate that bitcoin is performing at is also dropping https://blockchain.info/charts/hash-rate?timespan=30days https://blockchain.info/charts/hash-rate?timespan=30days
- deleted 9y ago
  [deleted]
- bestnameever 9y ago
  Looking at that chart it seems to rise and drop and regular basis and where it is now really doesn't seem outside the norm. Am I missing something?
  - ojr 9y ago
    hard to identify a trend after 24 hours, wait a week

sctb 9y ago

We've updated the headline from “Bitcoin's hashpower dropped 20% as miners migrate to Bitcoin Cash”.

tylersmith 9y ago
"Bitcoin mining profitability dropped 20% as miners migrate to Bitcoin Cash"

cesarb 9y ago

> even if it's currently more profitable to mine Bitcoin Cash than Bitcoin It seems that is the case if you consider only the block reward, but not if you also consider the transaction fees: http://fork.lol/reward/blocks http://fork.lol/reward/blocks The BTC chain has more transactions per block than the BCH chain, and the per-transaction fee is also higher.

TD-Linux 9y ago
No, it's still more profitable to mine BCH even considering the transaction fees, see the home page of fork.lol: http://fork.lol/ http://fork.lol/ The graph you linked is not considering block difficulty.
sbenitoj 9y ago
Transaction fees, even when they're really expensive like they currently are on the Bitcoin chain, are still minimal in comparison to the block reward of 12.5 Bitcoins (or about $51,250 at current prices) per block found. Here's a link to a recent full block found on the Bitcoin chain, total transaction fees were 0.43 BTC (or about $1,750). Recent Full Block on Bitcoin Chain - https://blockchain.info/block/00000000000000000112ebb0462fe52aa5f75c34bca21c83eed6a5ef89e95437 https://blockchain.info/block/00000000000000000112ebb0462fe5...

ojr 9y ago

the hashrate that bitcoin is performing at is also dropping https://blockchain.info/charts/hash-rate?timespan=30days https://blockchain.info/charts/hash-rate?timespan=30days

deleted 9y ago
[deleted]
bestnameever 9y ago
Looking at that chart it seems to rise and drop and regular basis and where it is now really doesn't seem outside the norm. Am I missing something?
- ojr 9y ago
  hard to identify a trend after 24 hours, wait a week