If you’re a supporter of Bitcoin Cash (BCH), there is an easy way to support its ecosystem and make a profit at the same time, and that is Bitcoin Cash mining.
As you probably know, mining is a complex process of solving difficult mathematical equations for the purpose of validating transactions. This is what makes mining the most important aspect of every crypto, while the miners themselves are invaluable members of that coin’s community. Not only do they make transactions possible, but they also increase the coin’s circulating supply.
Is Bitcoin Cash mining profitable?
One thing that should be clear to each and every would-be miner is that crypto mining today is not what it once was. When cryptos first appeared, mining was a fast and easy way to get to new coins. However, back then, cryptos were usually not that valuable. Of course, the times changed, and their value skyrocketed over the years.
However, this also affected the mining process, and today, mining requires a lot of resources, expensive equipment, and more often than not — joining the mining pool.
While it is still possible to make a profit through the mining process, every future miner should try and calculate how much they can earn, and if the profit can cover the expenses. The problem with mining is that it can be profitable, which is why a lot of large corporations, and even some governments, entered the mining industry.
Because of this, individual mining can often be quite difficult to achieve, and for some cryptos like Bitcoin, it may be next to impossible.
Is Bitcoin Cash mining more profitable than Bitcoin mining?
While BCH mining is quite similar to BTC mining, there are still some key differences that every miner should be aware of. For example, the limit of a BCH block is 8MB, while BTC block can only grow to be 1MB. While BCH blocks are bigger, this also means that they require more computing power to mine them. This also means that more power is required, which will make the bills that much larger. However, larger blocks also mean larger rewards for the miners after each block is successfully mined.
Now, since both of these coins are based on the same blockchain, the current mining reward is also the same — 12.5 coins. However, the biggest difference lies in the price of these two coins. At the time of writing, Bitcoin is valued at $6,651.20 per coin, while the price of Bitcoin Cash is only $537.84 per coin.
Due to such a dramatic difference, Bitcoin Cash mining can only work if the complexity of the block is lower than that of Bitcoin blocks.
In the end, a lot of miners have found that mining BCH is less profitable than mining BTC. Some have even experienced losses at some point. However, the interesting thing is that they continued mining, despite the current losses. This can only mean that their faith in BCH was high enough for them to continue, and a lot of them have decided to hold on to their coins and wait for the price to increase.
The conclusion here is that BCH mining can be profitable, but a lot of the profitability lies in the coin’s price. Considering that the market has been pretty bad throughout the year, calculating the coin’s current price is not exactly the best way to determine its profitability. There are many who believe that the new bull run is just around the corner, and when it actually arrives, Bitcoin Cash mining will once again become every miner’s main goal.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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A matter of time before TRON (TRX) achieves mass adoption
Tron (TRX) has all its eyes on decentralizing the internet, or rather content-sharing to ensure that creatives, artists, musicians, and authors can all release their content without the need of middle companies. As it seems, Tron’s founder hopes that the coin will challenge the globe’s major content providers like Facebook and YouTube.
The coin has undoubtedly made progress since its launch from a coin offering on the Ethereum ledger platform to now a native coin present on the official Tron Mainnet. If you think launching the independent MainNet is all Tron wanted to achieve, you are mistaken.
The aim is towards mass adoption as well as creating a decentralized web. Yeah, it is a fact that in the past weeks TRX has experienced price declines, but currently, the cryptocurrency is riding 5.37% hike against the USD in the last 24 hours (remember most of the other top coins including Bitcoin are in red).
It’s also continued succeeding in attaining quality listings such as the Bittrex (to name one of the most recent ones). Therefore, it seems as every step TRON makes is a sign of progress to make the decentralized web a reality.
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Hyperion and Stellar: A new partnership
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Hyperion uses an alternative trading system (ATS), which was licensed by the SEC. As a part of this arrangement, previously attained via investment in DBOT (Delaware Board of Trade), Hyperion has permission to also operate as a broker-dealer. It is also expected to become North America’s first advanced security token exchange.
As many are already aware of, Stellar is a trading protocol that is used for issuing, exchanging, and transferring digital assets. It works with several other cryptocurrencies, but also with fiat currencies like the USD. Additionally, Stellar also works even with some commodity assets, like gold.
Stellar’s goal is similar to that of Ripple, at least when it comes to enabling faster and better cross-border transactions. While Ripple focuses on providing its services to banks and financial institutions, Stellar aims to provide these services to individual investors. Thanks to this, Stellar has received a lot of attention and praise from individual investors, as the general interest in cryptocurrencies grew.
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After more than half a year of price drops and losses in value, Bitcoin’s price has finally demonstrated signs of stability. For weeks, Bitcoin managed to remain above the price of $6,550 per coin, which was followed by a small price surge that has allowed the coin to reach $6,600.
Not only that, but Bitcoin’s volume also saw a 12% increase that has taken it from $3.2 billion to $3.6 billion according to CoinMarketCap. While this state of the market did not include all the altcoins, with some of them even experiencing losses, the situation regarding Bitcoin did look promising.
However, the new situation has changed that, as both investors and analysts woke up to the news of crypto prices going down.
Bitcoin volume predictions
Cryptocurrency analysts around the world have been predicting that the recently-balanced situation regarding Bitcoin and many altcoins will not last. While some believed that Bitcoin volume will go up, others have been claiming that it will drop once again, as it has finally happened.
At the moment, Bitcoin has managed to drop below what was recently believed to be its bottom, with a new price being at $6,297. Instead of reaching milestones such as $6,800, and then $7,000 mark as many have hoped, BTC actually dropped by around 6%.
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