Bitcoin Mining More Profitable Than BCH Fork
Craig Wright partnered with CoinCeek CEO Calvin Ayre to takeover the Bitcoin Cash Network, and as a result, Bitcoin SV appeared. Bitcoin SV is known for being miner-friendly and the two partners predicted that that BCH would meet its end. Of course, that is not the case.
When it comes to Bitcoin Cash and Bitcoin SV, their ash rates are similar, but BCH gathered 28.9 percent more proof of work. Another major difference is their economics concerning mining, even though they both use the SHA-256 algorithm.
Several baseline factors include coin price, block rewards, and network challenges. Coin Dance, when taking these factors into account, estimates that BTC is more profitable to mine than BSV by a whopping 43 percent. As a result, BSV miners are losing more money as they continue to mine.
The irony is not lost – BSV is touted as being miner-friendly and an alternative to BTC in such space. However, at this point, BCH is quite profitable, more so than BTC. As a result, it is fair to estimate that it is more lucrative for miners, by at least 47 percent.
Further, Bitcoin is not only secure, but its hash rate is decentralized. It’s largest mining pool mines the most blocks as well. When it comes to on-chain scaling, both BSV and BCH are processing fewer blocks than Bitcoin.