A full node is required to mine on the blockchain. Bitcoin vs Bitcoin Cash. What is Bitcoin Cash? Be A HTMLCOIN HTML Miner. A step-by-step guide to BCH.

Reading Time: 1 minute A quote from a recent news article at: Over the course of the past twelve hours, the Bitcoin Cash (BCH) blockchain has been chugging along () The network is operating at 26% of the original chain’s difficulty as mining has become much easier on the BCH chain. Can Bitcoin Cash be the savior of old ASIC miners and the rocketship that will boost the sales of new equipment? Equipment such as the Antminer S7, which can no longer mine BTC profitably, can easily be used once again to mine BCH.

Network hashrate is 12× lower (5.088 Ehash/s for BTC vs 420.861 Phash/s for BCH on 3 August, according to ) yet difference in price between BTC and BCH is only about 7×. And initial difficulty has dropped to ~0.262, making mining 4× less difficult. Data is still scarce and changes will be coming, but I am almost tempted to buy a used miner and try to give it a second life. So much for the short term.

But the long term future also looks good for the new coin, doesn’t it? Bitcoin Cash now offers what many people wanted for a long time: larger blocks, cheaper & faster transactions.

If we agree with the pundits who say that and will be used by the big boys only, then BCH will have the chance to be “poor people’s” Bitcoin. So there will be still interest to mine BCH, right? And that will make happy by doubling the amount of ASIC miners they will get to sell 🙂. Hi Padraig, After I wrote this bit, I monitored the situation for a couple of more weeks and began to feel uneasy about it, so much that I ultimately decided against buying a used miner. Below is a compressed version of my reasoning. If you follow the news about Bitcoin Cash, you have probably noticed that there appeared an unknown entity from Hong Kong that for some time controlled the largest share of hashing power (). And you have probably heard how BCC miners in general added and removed hashing power as they saw fit in order to fool with the emergency difficulty reduction algorithm implemented by the Bitcoin Cash protocol ().

Basically, what I was seeing was miners trying to influence the way Bitcoin Cash was mined, and I did not like this at all. Apart from the fact that this goes against everything Bitcoin stands for, it simply adds another level of unpredictability on top of BCC price, BCC transaction confirmation time and the (still quite limited) abilities to sell BCC if needed.

So in the end I felt this was too risky and decided to stay away. For the same amount I could spend on a used miner (considering also the electricity cost over a 6-month period), I figured I could buy another GTX 1070 and leave it mining for Zcash, Monero or Ethereum, so that is what I did. It is still quite early of course but so far this has been a good decision. I very recently came across this article: It totally reflected my own concerns, and added some more that I even hadn’t thought about (more specifically, the part about block reward halving).

I still think it would make sense to try BCC mining if I had an obsolete Antminer S5 lying around, but spending money to buy the equipment first didn’t feel like the smart thing to do. Ivan Post navigation.