Coin.Dance says BTC is currently 45% more profitable to min…
Coin.Dance says BTC is currently 45% more profitable to mine than BSV. Is this correct, and how?
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More transactions that pay higher fees... on BTC
I was wondering the exact same thing today. Maybe it was a misprint ?
@Bipolarbear Oh, so you mean people are simply opting to pay higher fee to move their money around? I didn't even think of that.
BSV can flip BTC after the halving because block reward is cut. At the moment BSV needs lots more txs than BTC to make it more profitable sustainably. Simply because people pay more to move BTC. Obviously hash and difficulty are at play too...
Consider the income from mining a BTC block (12.5 BTC + fees), and BSV block. If the hash power ratio between BTC:BSV is the same as the income ratio, profitability is equal. More hash is on BSV right now bc miners think price will go up in short term.
Simple. Due to DAA miners switched to BSV and for a period of time and increased the difficulty exponentially making mining on BSV more costly. The previous period the difficulty was extremely low FYI.