As we all know, the Bitcoin Fork happened around this time last month. The fog has cleared and we now have two fully successful coins operating. I've heard a lot about mining Bitcoin Cash instead of Bitcoin Core because it was more profitable. Just wanted to write this quick post to clear up this topic with some fact and figures:
Bitcoin Cash current price is $600.
Right now Bitcoin Core fees on the Segwit blockchain are 1.5BTC or ($6,000)
Right now Bitcoin Cash's fees on the 8mb blockchain are 0.01 or ($50)
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The 500,000 Block mined on the Bitcoin Cash network meant 50% downwards on the difficulty for mining. Currently, Bitcoin Core is experiencing highs of 7% increase a week on the difficulty for mining. If Bitcoin cash difficulty decreases down to the 10-minute block target time, the cryptocurrency will become significantly easier to mine. Several blocks are now being mined an hour.
Currently, Bitcoin Cash mining generates double the amount of coins for the miner.
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Dependent on block times, Bitcoin Core currently hits the 100 confirmations needed to spend the mining reward quicker than Bitcoin cash. Bitcoin takes about 17 hours and Bitcoin cash takes about 34 hours.
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There only a handful of mining operations on Bitcoin Cash, the largest an unknown actor controlling roughly 90% of the hash power. Bitcoin Core, on the other hand has thousands of independent miners and mining pools.
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"It's a gamble," Airbitz's Morgan said, arguing that Bitcoin cash is more volatile and could fall drastically, it has less mass adoption on the network than Bitcoin Core and its volume is lower and is more fragilee.
Either you mine risky Bitcoin Cash for more coins or mine Bitcoin Core for a safer stable income.
I hope this has been as unbias as possible so you can draw your own conclusions! Hope this informed you, Respect! Please Upvote, comment and follow if you enjoy this content. Everything is appreciated!
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