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replied 1861d
Just thinking the same. Bch would welcome them with open arms, btc chain treats them like thieves.
replied 1861d
But our hash power may not enough for them
replied 1861d
That is the problem but btc it's definitely not sustainable. Fees are going to go high for them. Core might even change software to screw them lie they did vitalik.
replied 1861d
Yes, core is not as open as other open source organizations. They are not friendly to other developers.
replied 1862d
Well, that is self-fullfilling either way. If the traffic rises, the demand rises, the price rises and then the hashrate rises.
replied 1861d
I'm interested in whether price follows hashrate or vice versa. have you seen anyone discussing this anywhere?
replied 1861d
Actually, hashrate is following price. Most miners always put their hash power into the coin with highest profit. Which will cause hashrate always proportional to the price.
Fnuller15
replied 1861d
Agreed. Also BSV is a good example that price does not follow hash rate. They have mined with a big deficit for months.
replied 1861d
And PoW is integral of historical price. If BCH want to overtake BTC in PoW, it will have to have a higher integral of price than BTC.
replied 1860d
BSV isn't really even a decentralized network, mining is being led by Coingeek/Nchain and price is suffering because having a blockchain ruled by one firm defeats the whole purpose
Simon Van Gelder
replied 1860d
But businesses don't see this...they just see "company that make me relevant to today" and "super technology". They'll learn eventually...
replied 1860d
I don't think you yet fully absorbed the influence of subsidies in the bitcoin. No subsidies, no price/reward coupling for miners. And eventually, we need to get there, else inflation
replied 1860d
And what better way is there to achieve that than 2 parasitic corps lead by 2 fucking idiots like Craig and Ayre. :D
replied 1860d
So... not always...
replied 1862d
It's hard to find thse days with so many lambo moonboys permeating crypto. I mostly talk in mining communities to find discussion of these kinds of economics
replied 1860d
hmm, thanks good place to start. do you know of a place to download the hashrate for every day for the past few years (on BTC or BCH)?
replied 1861d
IMO price follows hashrate, since hash represents longer-term investment into coins w/ ASICs. Also makes sense why Core works against miners so much, if they're trying to kill Bitcoin
replied 1861d
I doubt that it's true considering that only speculation drives these markets.
replied 1861d
There are plenty of projects with a functional product, saying it's entirely speculation is provably false. Hashrate represents resources and hardware being invested into a blockchain
replied 1861d
Functional products are one thing...non-speculator users are another.

In my view, 9 out of 10 people enter crypto due to speculation currently, or at least that's my xp.
replied 1861d
Probably because you've been shitposting on internet message boards flooded with memes and price updates instead of following developer or miner channels
replied 1861d
Not on the internets. That's my experience in meat space. Went to meetups too...the same shit.
replied 1860d
i mean, speculation is just the far end of an expectation/prediction/forecast/calculation/projection spectrum right?
replied 1859d
Having a stake because you believe that these networks have a future and will be useful is different to buying it hoping that some sucker will buy it off you higher.
replied 1859d
so, people have a stake (in hardware) & that is more solid that speculation?
replied 1859d
I don't think that it matters. (whether you mine or not).
replied 1860d
but we could spend a lot of money increasing hashrate & not change price right? Seems people only care about hash (& thus security) far down the line. maybe neither is leading.
replied 1857d
In the past, when hashrate has flipped to BCH it has caused serious price spikes. You can say that these aren't related, but it usually spikes when new miners are announced too
replied 1857d
ok thanks, havent looked that closely at it yet. I'll watch for that
replied 1857d
No problem, I can get you some exact dates once I'm home if you want
replied 1857d
thanks. if it's easy, otherwise no problem. my guess would be to start around the large fluctuations in late 2017 (eg 19-08-2017)? https://cash.coin.dance/blocks/profitability
replied 1857d
Yes, the biggest would have been around November IIRC. It was around the time that BCH hit ~0.5 BTC
replied 1862d
I agree. Bitcoin Cash chain is currently much less secure than BTC chain :(
replied 1861d
true. that's the issue.
replied 1861d
Even though BCH has less of the hashrate, it's still a more resilient network as it's not prone to develop backlogs and won't shit itself if a considerable amount of miners leave it.
replied 1861d
and there is reorg protection.
replied 1861d
Hashpower is more of an illusion of security, rather than anything meaningful.
replied 1861d
Past hashrate spikes on BCH have just lead to price spikes and the attraction of more honest miners. I don't think that a 51% attack is a concern at this point, look at the last fork