Can Bitcoin Cash overtake BitCoin : I say NO
Have a look on this chart from coinwarz. Following observations can be made:
- Bitcoin difficulty level is 10 times more than that of BitCoin Cash
- BitCoin that can be mined in one day is 10 times less than that of Bitcoin cash while both have almost same hash power assigned to them (Bitcoin Hashpower=5,781.08 PH/s and BitCoin Cash Hashpower=7,216.18 PH/s)
- The profitability of miners for bitcoin, at these price levels, is 42% and for miners of bitcoin cash is 81%
- Current block for bitcoin is 494058 and for bitcoincash is 503363. Both had same block at the time of bitcoin cash fork.
- Current total supply for bitcoin is 16,675,712 and for bitcoin cash is 16,791,938
- Point 4 and 5 clearly prove that Bitcoin cash is being mined much faster.
Therefore, as more and more hash power is assigned to Bitcoin Cash - more Bitcoin Cash coins will be mined. That means the remaining coins out of total 21 mn coins will be mined 10 times quickly for bitcoin cash than for bitcoin leading to more supply of bitcoin cash than of bitcoin. More supply of bitcoin will push its prices down affecting the profitability of miners and miners switching to bitcoin mining.
So this price behavior is temporary and not sustainable. Do not switch instead be ready to buy more bitcoin if prices go down of 5000$
More details about what is happening among top crypto currencies
BTC Supply = 16,675,762 BTC
BCH Supply = 16,792,588 BCH
BCH mined (650) in last one hr are 13 times of BTC mined (50) in last one hr. And since hard fork 116826 more BCH are mined than BTC are mined. Therefore, BCH can not compete with BTC as far as value storage is concerned.
BTC Supply = 16,675,787 BTC
BCH Supply = 16,793,313 BCH
Again BCH mined in last one hr (725) are 29 times of BTC mined (25) in last one hr. Therefore, BCH just can not compete with BTC as far as value storage point is concerned.
Although BTC is down significantly but it is still not in buying zone. So waite till it drops below 5000
Bitcoin Cash became unprofitable to mine as difficulty adjusted
nope
The Bitcoin cash difficulty will start to ramp to adjust in the same way Bitcoin will fall as they lose hash power. This is designed at the core level.
So your assumption does not hold.
U seem to miss noticing that Bitcoin cash currently has more hash power assigned to it than to bitcoin. so by your logic difficulty of Bitcoin cash should have been higher and that is not. Therefore, yr argument does not hold true.
If you look at my posts you will see I know that. Difficult takes many blocks to adjust, it is not block by block. This stops a pump in hash followed by a drop causing the system to stall. You will see it adjust over time. Look at the white papers for how this is done if need be :)
It takes 2016 blocks before it changes
with this much hash power assigned to bch - 2016 blocks will be mined in a day apprx. We will see then about yr logic