Bitcoin Cash just had its block rewards halving event...steemCreated with Sketch.

in GEMS2 years ago (edited)

Bitcoin Cash was the first of the Bitcoins to Halve...

Rewards on bitcoin cash dropped from 12.5 to 6.25 per block with the latest halving that took place a couple hours ago.

This event hasn't had much of an impact on the price as of yet, but it sure has impacted the miners.

After the halving, literally hours went by before the first block was mined.

Miner revenue took a major hit and miners are turning off the machines accordingly:

(Source: https://twitter.com/RyanWatkins_/status/1247894923866603521)

BCH miners are likely to look elsewhere for the time being...

Most likely BCH miners will shift over to bitcoin core.

Or just "bitcoin" to most people that don't care much about BCH or BSV (myself included).

As of right now it is significantly more profitable to mine bitcoin than it is to continue mining BCH.

Check it out:

(Source: https://twitter.com/ArcaneResearch/status/1247928876518555648)

Short term trend...

This will likely be short lived however as the difficulty adjustment plummets on BCH since very few are mining.

Plus bitcoin will have its own halving in a little over a month, which will force some miners to turn off their machines as well.

Next up though, is BSV.

They have their halving in a couple days...

Lot of things going on crypto land!

Stay informed my friends.

-Doc

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