Is bitcoin cash more profitable to mine

Bitcoin Cash Mining - Things to Know Before You Start Mining BCH

Despite supporting a 32x greater block size and thus the capacity for greater transaction throughput, Bitcoin Cash supported significantly less daily transactions than Bitcoin in its first year of existence. The increased block size allows for even greater transaction volume on the Bitcoin Cash network.

Subsequent upgrades have included a change in November from topological transaction ordering to canonical ordering, to speed-up transaction validation, and the implementation of Schnorr signatures in May , which offers small improvements in privacy, and throughput while opening the possibility to layer two networks by reducing transaction malleability. Outwith core protocol updates, Bitcoin Cash developers have added a protocol for issuing tokens, called the Simple Ledger Protocol, and added support for the trustless privacy-enabling mixing service, CashShuffle.

Mining Bitcoin Cash is similar to mining Bitcoin. Like Bitcoin, Bitcoin Cash mining has been dominated by several large mining pools, members of which utilize application-specific integrated circuits ASICs. Given the similarities between Bitcoin, Bitcoin Cash, and Bitcoin SV miners can switch between the two with relative ease, directing efforts towards the more profitable network. Today, all miners capable of mining BTC can mine BCH, and smart pools often switch between them based on relative profitability.

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Otherwise, Bitcoin Cash follows an identical supply schedule. There was no genesis supply. The block reward, which started at This yields an eventual total supply of 21 million BCH, with 20,, by Much like with Bitcoin, Bitcoin Cash does not have a formal governance structure, but instead relies on the collaboration between different interest groups, principally; developers and client implementations, miners, service providers, and users.

By , cryptocurrency mining has become a little more complicated and involved. With bitcoin , the reward is halved every four years. You can join a bitcoin mining pool to be more effective, but that comes with a fee, reducing your profits.

Bitcoin Cash Mining - Things to Know Before Starting

Some crypto miners instead opt for other currencies. Some other cryptocurrencies are worth very little in U. On top of building your rig, you also need to realize that you are going to be using quite a lot of power. If you have high power rates, you could end up spending quite a lot to mine coins—especially bitcoin. A less powerful rig mining alternative currencies could save you money. Even so, it can take several weeks, or even months, to recoup your original investment and become profitable. If you purchase a higher hash rate, you are expected to receive more coins for what you pay for, but it will cost more.

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Depending on the company you choose, you might pay a monthly fee, or you might pay according to the hash rate. In general, cloud miners that allow you access to bitcoin come at higher rates.

In some cases, you might be required to sign a year-long contract, locking you in. If the value of the cryptocurrency drops, you could be stuck in an unprofitable contract. As it is, depending on what you mine, it can take several months before your cloud mining investment becomes profitable.

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Buying bitcoins with hope of their value rising is equally risky. The market for cryptocurrencies is young, and for every analyst who sees great potential, there is another who expects the market to go bust. Banks such as JP Morgan still view cryptocurrencies as unproven and likely to drop in value.

Money can be made, but no method guarantees profit

Bitcoin and other cryptocurrencies remain a high-risk, high-reward investment with little consensus about the economic roles they will play in the coming years. Congressional Research Service.

Accessed April 27, Crescent Electric Supply Company. PLoS One. European Central Bank.