The big business behind Bitcoin and Bitcoin Cash, why dips present buying opportunity...
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With this result we can compare the two chains. For example, using the DARI of the last block we can estimate that a BCH miner could potentially collect (10.71 / 6.58 =) 1.63x the reward (in USD) that a BTC miner could collect.
Bitcoin Cash and Bitcoin gonna be a mining game in the next couple weeks as Bitcoin Cash Network grabs wider adoption. Here is a current stats on Bitcoin Cash from Coinmarketcap.com
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From the stats and graph above, any possible dip in price would present a buying opportunity. Let me put it this way, it simply to profitable for miners and exchanges to let fail.
If you are following the high fee vs low fee debate, I am pretty sure the high fee club is loving the profitability opportunity being presented at Bitcoin Cash. It could end up being a tug of war between both camps and equally big winners if there is wide market adoption of both coins. It present miners with a life-line from two lucrative coins, but BTC full potential of being a 1 million per coin could be delayed longer as miners, traders, exchanges and off-chain market makers full their pockets.
Base on the data above, Bitcoin Cash may give doubtful miners who are losing ground to some BTC miners an opportunity to join in the party. Probably this hardfork could end up being one of the biggest miners party and Bitcoin Cash could present an opportunity to those who miss the early BTC train when it was trading under 1000 US dollars. I don't necessarily see Bitcoin Cash killing Bitcoin, it's much more lucrative if both chains coexist and certainly BTC would stay ahead for now.
I would summarize in a non-textbook way and introduce a thought by Jack Anderson - "The incestuous relationship between government and big business thrives in the dark". I would like you to replace government and big business with miners and exchanges respectively...I hope this would give you some food for thought...
Thanks for reading and please remember to hit the upvote
Sources for the graph were found on
https://coinmarketcap.com/currencies/bitcoin-cash/
https://coinmarketcap.com/currencies/bitcoin/
http://fork.lol/
"From the stats and graph above, any possible dip in price would present a buying opportunity. Let me put it this way, it simply to profitable for miners and exchanges to let fail."
I think these may turn out to be wise words.
This was a great article, I'm going to suggest it to my investor to tip it/resteem it.
You may be interested in a project I just learned about today. I can't say I know a ton about it yet, but I hope to post about it if it passes my initial vetting.
It's called WCX - it's a new exchange that advertises a few key features:
90% lower fees
98% funds in cold storage
WCX Token
The WCX token is like an ownership in equity for the exchange. If you hold them, you get a proportionate amount of the fees the exchange gets. Like a profit share. I was able to sign-up and get my 50 free tokens.
You can use my referral link if you want, we each get 50 free tokens, which they are valuing at $5 USD. It's one of the easiest sign ups around. Only 2 fields, an email, then enter in any password you like. Once you click to verify email in your account and click the link in your email, you are done.
https://wcex.co/?ref=GWIEi58e
Thanks a million for the link, certainly going to sign up, I notice Glen Maxwell came out this morning saying that Bitcoin Cash profitability is being inflated, I think its starting to give them a major headache, so this is going to present some major juicy volatility in the coming days...the Bitcoin Cash Network capacity and profitability are catching to many eyes...I think this is a 1000 coin and the mind games gonna intensify in the coming days...thanks for the support and definitely gonna sign up
Sure thing buddy! I'm going to research this token some more and write an article on it, so I hope to find out it's it's a good deal.
It would be a nice sign up boost if it ended up being like EOS and worth $1.50 or so.
that would be one sweet bounce man
Great post and resteemed. Though I would add that the increasing congestion on the legacy Bitcoin chain may result in a rush-to-exit sell off, as people scramble to sell before the chain becomes too difficult to transact on. If that happens, the Bitcoin Cash fork remains more profitable, and the cycle repeats.
Certainly, I notice Glen Maxwell came out this morning saying that the Bitcoin Cash profitability is being inflated so something is definitely going on, probably those who wasn't giving it any attention are starting to give a second thought, could be an interesting story unfolding, it would set up for for juicy volatility and trading opportunities in the days to come... thank you for the support
That coin.dance site with all the charts is predicting BTC to be over 2.5x more profitable to mine after the difficulty adjustment in about 18 blocks.
Are miners going to stick with BCC or are they going to migrate back to the more profitable (for the time being) coin? We will know soon!
It's a lot of mind games moving forward, for now we have to stick with the data, it showing the BCH is much more profitable than BTC...I believe you have to stick with the data and necessarily what is coming from an authoritative figure, Glen Maxwell know exactly what he is doing, they underestimate this BCH and the miners and exchanges who were doubtful are seeing the profitability of keeping this going
But now it is more profitable to mine on the BTC chain. Do you not think it will be that way for long? It's such a tricky situation!
It's a ploy by the BTC miners support base to generate traction away from BCH pool towards them but they won't be able to keep that up, as the network stability take its effect...there would be a lot of mind games going forward but I believe they both would have their support base going after each other...BCH would be your best bet, get in early, I think its here to stay
Very good and interesting. Resteemed.
Thanks and very much appreciated, it took me a couple hours to put together, and abit of digging...happy that you enjoyed it, appreciated the resteem