Bitcoin’s Mining Power Overcomes Bitcoin

There are many interesting events happening in the bitcoin world these days. Clearly there are some major changes on the horizon. The Bitcoin network has been slowing down in recent days, causing delays in transactions and higher rates. Much of the mining force moved to Bitcoin Cash because of profitability reasons. If this change of blockchain on the part of the miners continues, the bitcoin can go through the aggravation of the problems in the short term.

With the price of Bitcoin Cash rising, mining it is much more profitable compared to bitcoin. More specifically, there is less incentive to mine Bitcoin itself, despite a price tag of more than $ 6,000, most miners will simply follow the most lucrative option.

Bitcoin Cash vs Bitcoin

At this moment, at a total of 10.48 TH/s, the mining power of the Bitcoin Cash network is 6.48 TH/s and Bitcoin’s 4.34 TH/s.

You can follow the change here:

Seven days ago, Bitcoin had more than 5 times the mining power of Bitcoin Cash. The cancellation of SegWit2x – potentially orchestrated by Bitcoin Cash supporters – may prove to be the turning point in this regard.

While this, at first, is just something momentary, it shows us that things are changing behind the scenes as well. If more companies switch to BCH instead of Bitcoin, we can see a change in things.

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About the Author: Dara Steenburgh

Dara has been a reporter at with Crypoto Post Gazette since Nov. 2016. She enjoys running, practicing minimalism, reading whatever Oprah recommends, and trying out the next best skincare item that probably won't work. Dara is a graduate of Wesleyan University in Connecticut where she studied journalism, Arabic and international affairs. To contact Dara, just click here

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