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Bitso May seriously want to consider that ABC may not exist if this trajectory of decreases miner support continues.
Bunch
replied to post · 15 days ago
There's no "trajectory", bitcoin.com hash went back to mining BTC, now that BCH and BSV each have their separate chains.
Barricade
replied to post · 15 days ago
And this is the smartest move they can do, there's no reason now for mining at lose. Also, decreasing now BCH difficulty will make it more profitable in the future.
Bunch
replied to post · 15 days ago
I'll play your "concern" game: as of now, BSV hash is twice that of BCH, but price is around 1/3 ($60 vs $180). BSV Miners may want to consider how good it is to be 600% worse off
For example, I have mined BCH since October 3rd but only sold once and made enough to pay overhead for decades. I’m investing PoW into SV to make it stronger.
What you didn’t notice perhaps is that SV and ABC prices are converging as accumulated PoW on SV accelerates. As a miner myself, I’m not selling until later. Long term investor
Septmike
replied to post · 15 days ago
I believe the two are converging because investors are getting 1 SV and 1 NEW BCH for every BCH, right? The price technically should be equal when that happens.
No. Trading volumes for SV are huge, nearly as much as BTC for USDC pairs. SV price moving UP as BTC and ABC move down. Check out buy orders. Big money doesnt speak with words.
Septmike
replied to post · 15 days ago
Exactly as the price should be equal until all the coins are distributed, people are jumping on SV cause they are so far apart.
Septmike
replied to post · 15 days ago
The only thing that matters with price is buyers and sellers. SV can have the most hash the longest chain, and can still be at 0 if nobody is buying it.