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For a long time, Bitcoin has stood the test of time as the most profitable crypt for mine, and thousands of miners have created bases all over the world. Hardware manufacturers have developed equipment designed specifically for BTC extraction.
However, the current trend seems to shift favor from the upper crypt. Since the market has become bearish after the BCH fork has happened, the value of Bitcoin has declined, and with it hundreds of other cryptocurrencies.
Bitcoin Mining is no longer profitable
In order for crypto-miners to make profits, their operations must first draw in balance. This takes into account the capital invested in prepared mining installations and energy consumption. If a miner can not equalize, then he is at a loss. This was the dilemma faced by numerous Bitcoin miners since the price was a success.
In fact, hundreds of miners have stopped operations. Some have even sold their mining hardware, signaling a growing feeling about the uncertainty of the future of Bitcoin in the face of the bear market fueled by a civil war among its tough forks. In 2017, BCH was bifurcated off from BTC. On November 15th of this year (2018) BCH suffered its hard fork which led to BCHABC and BCHSV, triggering a hash war between the two. BCHABC won and was recognized as BCH.
BTC Vs BCH
When the BCH fork is successful, the miners have moved their resources to extract the new blocks. Since the price of Bitcoin has started to fall, the mining business of BCH and BCHSV has become more profitable and therefore more attractive. The interesting part is that just two weeks ago, Bitcoin mining was 300% more profitable than BCHSV mining. Today, BCHSV mining is 25% more profitable than Bitcoin.
This presents a rather interesting scenario because the aforementioned profitability will increase again if the price of Bitcoin increases. It is a fact that BTC takes the rest of the market wherever it goes. As such, it would be interesting to see if the highest currency finally claims its first place as the most profitable of its 3 variants.
Factors to consider
As is evident from the current mining situation at Bitcoin, there is much more to be profitably exploited than just the market price of a crypto. The hashrate, the difficulty of the network and the blocking premiums are some of the most significant factors.
