IT happened: ETH miners mine ~5.2m$ daily while BTC miners 3.6M$ - page 2.

Yakamoto

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Quote from: Eternu on May 21, 2017, 05:56:25 PM

As far as i know, bitcoin is strongest and widest used cryptocurrency in the world. That is now only for show. There are other cryptocurrency as well , but i think they will not become stronger than bitcoin. There is long future ahead of bitcoin, and i hope it will last long to meke us able to make some money ☺ . But it could happen that bitcoin die, i mean everything is possible, but i hope it wont.

It all comes down to the community and merchants and seeing how they interact with each other. If ETH continues to move in the way it has it may start to garner some interest from merchants, but for right now it's being toted as a centralized crypto being developed around functionality rather than value. A similar thing happened with XRP, and now it is in a stagnant position compared to where it was.
Bitcoin will likely not die as long as the community stays with it and the money keeps moving. Only when that stops will Bitcoin die.

XbladeX

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Quote from: mining1 on May 21, 2017, 06:50:42 PM

*** Not anymore.

Yes and this is sad that has happened even on probably of false promise .
But market gives BTC miners strong signal "you are doing wrong we will support/looking for alternatives" .
Scaling is great example of BTC weakens , but truly decentralized system will have same issue here.
ach most coins are not decentralized so will make fast solutions.

mining1

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You're one of the stupid ones i see. It's not about being or not more profitable to mine. It's about how much value it generates per day by mining. Bitcoin dominated this chart since it's inception, generating atleast 10 more value than any other project out there. That is why bitcoin maximalists showed this off when they claimed bitcoin should be the only blockchain because it is the most secure. Not anymore.

piebeyb

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Leading Crypto Sports Betting & Casino Platform

I think maybe ETH mining is more profitable than BTC, but at least you need to think about many things before mining

unamis76

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This has been ongoing for years. There are more energy efficient algos than SHA. That's why multipools exist, to mine whatever is most profitable and sell for BTC.

BTC won't give way just because another currency is more profitable. Otherwise it would have given way years ago.

XbladeX

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Quote from: 25hashcoin on May 21, 2017, 06:21:10 PM

But why would anyone want to use or hold a buggy, inflationary, mutable, centralized bankster sql database token? Hype will die, and scamthereum along with it.

We will see now we have bubble there is no tractional decisions around. ETH is more catchy for nobs to hype.
"ETH as BTC2.0"... with minimum fee 0.075.

Market just tells miners better get some solution or market will support more other coin this is true message.
Miners need to decode it. BTC price not collapse but other are rising faster this is another scenario.
Where more money goes to alts it will signal that some alts will be more secure than BTC.

25hashcoin

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But why would anyone want to use or hold a buggy, inflationary, mutable, centralized bankster sql database token? Hype will die, and scamthereum along with it.

XbladeX

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Quote from: Eternu on May 21, 2017, 05:56:25 PM

As far as i know, bitcoin is strongest and widest used cryptocurrency in the world. That is now only for show. There are other cryptocurrency as well , but i think they will not become stronger than bitcoin. There is long future ahead of bitcoin, and i hope it will last long to meke us able to make some money ☺ . But it could happen that bitcoin die, i mean everything is possible, but i hope it wont.

Trafic jam effect is kicking into effect. China miners were thinking that people will use LTC but...
as i predicted they went to ETH faster/greater volume.
Bitcoin will not die but without HIGH tech solutions like segwit LN BTC will be shadow of cryptocurrency and this is SAD but true. I hate those miners anyway but they are taking now HARD lesson.

Eternu

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As far as i know, bitcoin is strongest and widest used cryptocurrency in the world. That is now only for show. There are other cryptocurrency as well , but i think they will not become stronger than bitcoin. There is long future ahead of bitcoin, and i hope it will last long to meke us able to make some money ☺ . But it could happen that bitcoin die, i mean everything is possible, but i hope it wont.

freedomno1

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Learning the troll avoidance button :)

It does make me curious how many people are researching how to run an Ethereum miner.
At this point both currencies are growing, on the question will ETH pass BTC price wise perhaps/perhaps not the future is not set in stone Ethereum does have its platform system going for it though but first adopter means that Bitcoin will exist for a long time to come.

XbladeX

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I was wondering when it will happen - that was fast. If you make your maths BTC is less profitable to mine than ETH today.

ETH inflation rate ~14%, while BTC inflation is 4%.

Formula is: (Marketcap*inflation)/365

And you will end with ETH 5.2m$ while BTC mine 3.6M$.

In other words more money is coming to ETH than to BTC today. Will BTC give away top position to ETH ?

PS: This is big ring bell to BTC miners I see that they deserved such event but it will be stupid to let it go. Without Segwit BTC will miss most new money soon - I hope greed will woke them up.

Topic: IT happened: ETH miners mine ~5.2m$ daily while BTC miners 3.6M$ - page 2. (Read 1595 times)