Topic: BTC and BCH Difficulty Adjustment, Total Supply, and Price (Read 1544 times)
Bitcoincash is just another bitcoin clone so all rules regarding mining is same and yes it is true that blocks are being mined too frequently these days but it will be back to normal when difficulty will be adjusted within next few days.
Didn't someone in the BCH ANN thread tried to make it sound like there's only 2-3 more days before the difficulty adjustment? If it's 2 weeks then there's still plenty of time for any miners who actually want to switch the boat.
I don't even understand why people talk about Bitcoin Cash. What is the point? It is simply a small segment of the community who created an altcoin and trying to replace Bitcoin. It is our enemy and holding back progress. There is nothing we can do to bring it down except stop talking about it until it eventually goes away or becomes useless.
people will talk and use anything that is more profitable
if BCC wil lbe more profitable to mine,it shall be mined regardless of the community preference
the coin is being pumped hard at the moent and went up to 0.2 btc per bcc
now it is cheaper but the price is so volatile that makes it perfect for any trader
nothing personal,just business
I don't even understand why people talk about Bitcoin Cash. What is the point? It is simply a small segment of the community who created an altcoin and trying to replace Bitcoin. It is our enemy and holding back progress. There is nothing we can do to bring it down except stop talking about it until it eventually goes away or becomes useless.
Every two weeks, the difficulty adjusts to try and make a block (on average) every ten minutes. So if, during a two-week period, many more miners started mining on a chain, we can expect faster blocks until the next difficulty period.
It might be the case that the BTC price (or BCH price) keeps rising and mining gear keeps getting better. In that scenario, the BTC or BCH blocks would typically be mined slightly faster than (on average) every ten minutes, because more miners would join during each period. However, BCH being much more profitable than BTC now will of course not last, because more miners will join and then the slower blocks at the next difficulty adjustment will affect their profits.
BCH also has an emergency difficulty adjustment in case the blocks are too slow. This is explained in their ANN thread.
It might be the case that the BTC price (or BCH price) keeps rising and mining gear keeps getting better. In that scenario, the BTC or BCH blocks would typically be mined slightly faster than (on average) every ten minutes, because more miners would join during each period. However, BCH being much more profitable than BTC now will of course not last, because more miners will join and then the slower blocks at the next difficulty adjustment will affect their profits.
Does BCH follow the same rules?
It does still involve the difficulty adjusting to produce a block every ten minutes. But if you read my post, you'll understand that it doesn't always have to take ten minutes to mine a block. BCH also has an emergency difficulty adjustment in case the blocks are too slow. This is explained in their ANN thread.
BTC's difficulty is adjusted every two weeks so that a block can be solved in 10 minutes. Approximately, the Bitcoin reward is cut in half every 4 years. Consequently, the supply of 21M will be maxed and fixed in Year 2140.
Does BCH follow the same rules? I read that "Blocks are being processed rapidly now on the BCH chain as each block is being found every 3-7 minutes. " from https://news.bitcoin.com/bitcoin-cash-mining-difficulty-drops-significantly-speeding-up-the-chain. If that is the case and the 3-7 minutes block mining time sticked, won't the BCH supply increase faster than BTC's and reaches the maximum supply sooner?
A reduction in the mining difficulty also means that the transactions in the block can be processed quicker and the transaction fee be lower. How would that affect the price?
Does BCH follow the same rules? I read that "Blocks are being processed rapidly now on the BCH chain as each block is being found every 3-7 minutes. " from https://news.bitcoin.com/bitcoin-cash-mining-difficulty-drops-significantly-speeding-up-the-chain. If that is the case and the 3-7 minutes block mining time sticked, won't the BCH supply increase faster than BTC's and reaches the maximum supply sooner?
A reduction in the mining difficulty also means that the transactions in the block can be processed quicker and the transaction fee be lower. How would that affect the price?
The difficulty right after the fork was high on BCH, so not much new blocks were found.
Due to a lower hashrate it decreased to a low level after two weeks.
At the moment it seems to be more profitable to mine BCH than BTC.
So more people are mining BCH and the hashingpower increases, but the difficulty will only follow in two weeks.
That is why we have plenty new blocks at BCH at the moment.
At least if I understood correctly how it works.
The difficluty will adjust to the new hashing power again, but it takes two weeks.
BTC's difficulty is adjusted every two weeks so that a block can be solved in 10 minutes. Approximately, the Bitcoin reward is cut in half every 4 years. Consequently, the supply of 21M will be maxed and fixed in Year 2140.
Does BCH follow the same rules? I read that "Blocks are being processed rapidly now on the BCH chain as each block is being found every 3-7 minutes. " from https://news.bitcoin.com/bitcoin-cash-mining-difficulty-drops-significantly-speeding-up-the-chain. If that is the case and the 3-7 minutes block mining time sticked, won't the BCH supply increase faster than BTC's and reaches the maximum supply sooner?
A reduction in the mining difficulty also means that the transactions in the block can be processed quicker and the transaction fee be lower. How would that affect the price?
Does BCH follow the same rules? I read that "Blocks are being processed rapidly now on the BCH chain as each block is being found every 3-7 minutes. " from https://news.bitcoin.com/bitcoin-cash-mining-difficulty-drops-significantly-speeding-up-the-chain. If that is the case and the 3-7 minutes block mining time sticked, won't the BCH supply increase faster than BTC's and reaches the maximum supply sooner?
A reduction in the mining difficulty also means that the transactions in the block can be processed quicker and the transaction fee be lower. How would that affect the price?
BCH is exactly the same as BTC, but it has 8MB blocksize and no segwit. That is all. Difficulty adjusts the same, total supply will be the same at 21M in about 2140... the difficulty adjustment I think was different during the first block where they had to mine the 1+MB block to actually get the thing working.
I think im right, but if someone wants to correct me then go on.
I think doesn't.
BTC's difficulty is adjusted every two weeks so that a block can be solved in 10 minutes. Approximately, the Bitcoin reward is cut in half every 4 years. Consequently, the supply of 21M will be maxed and fixed in Year 2140.
Does BCH follow the same rules? I read that "Blocks are being processed rapidly now on the BCH chain as each block is being found every 3-7 minutes. " from https://news.bitcoin.com/bitcoin-cash-mining-difficulty-drops-significantly-speeding-up-the-chain. If that is the case and the 3-7 minutes block mining time sticked, won't the BCH supply increase faster than BTC's and reaches the maximum supply sooner?
A reduction in the mining difficulty also means that the transactions in the block can be processed quicker and the transaction fee be lower. How would that affect the price?
Does BCH follow the same rules? I read that "Blocks are being processed rapidly now on the BCH chain as each block is being found every 3-7 minutes. " from https://news.bitcoin.com/bitcoin-cash-mining-difficulty-drops-significantly-speeding-up-the-chain. If that is the case and the 3-7 minutes block mining time sticked, won't the BCH supply increase faster than BTC's and reaches the maximum supply sooner?
A reduction in the mining difficulty also means that the transactions in the block can be processed quicker and the transaction fee be lower. How would that affect the price?
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