Interesting discussion Bitcoin (BTC), Bitcoin Cash (BCH), …
Interesting discussion
Bitcoin (BTC), Bitcoin Cash (BCH), and Bitcoin SV (BSV) are the most prominent blockchains that use the SHA-256 hashing algorithm for their Proof-of-Work consensus mechanisms
The concept of next in line ought to include which version of Bitcoin could be most profitable to mine
Presently BTC is the most profitable to mine because of the spot price at which it trades, not because of transactions
Can BTC continue to attract miners into the future ?
Can one of the contenders generate enough on-chain transaction revenue to take hash rate from BTC
BCH could attract enough spot price appreciation and on-chain revenue to challenge BTC
BSV could also attract spot price appreciation and perhaps so much on-chain revenue as to make the other chains not worth mining
I think it's important to consider that BTC has to eventually increase transaction costs or increase the supply
Replies
Let's grant it all. BTC falls, miners don't buy new rigs, they switch to mining BSV, bigger blocks, more fees, profitable. Fine. I'll give you every step.
Two things still stand.
One — being profitable to mine isn't being money. That tells me miners are paid. It says nothing about whether a single person spends it. A heavily-mined chain can still be a chain nobody shops with.
Two, and this is the one I can't get past — where does all that mining revenue come from? Fees. On what? Data. Logs, files, enterprise writes. So even after miners flood in, it's a wildly profitable DATA chain. So I ask the same thing I always ask: where are the peer-to-peer transactions? Where's one person paying another? Great database. Still no cash.
So whichever road we take — mining, enterprise, a giant building on top — it ends the same place. Where's the peer-to-peer?
Build thinkers, not followers.