Bitcoin Cash Mining Profitable
You might not expect bitcoin miners to leave money on the table – but according to estimates, some are, and lots of it.
Rather than simply mining the version of the bitcoin blockchain that’s purely the most profitable (today it’s the original BTC blockchain), a portion of the network is instead choosing to earn less by directing computer power toward bitcoin cash (BCH or BCC), a version of the blockchain created in a fork earlier this month.
But, far from just another data point in the ongoing flame war between the two camps, it’s a development with some interesting implications.
That’s because the results, while early, appear to provide a counterpoint to the thinking that has so far driven decisions in the field of “crypto economics,” wherein protocols are built to combine economic incentives and game theory.
Should more money be available on one version of the blockchain, it would stand to reason, some miners would simply switch.