Bitcoin Cash 5 Difficulty Adjustments Away from Profitability
With currently 16,78% of BTC difficulty BCH miners are still mining at a loss.
In my previous article from August 5 I explained why paradoxically not mining could turn out to be the right strategy for BCH miners. This is the consequence of the additional difficulty reduction mechanism built into BCH blockchain.
Meanwhile, as of August 6 9:30 UTC, two more BCH difficulty reductions took place (block 478647 and 478648). We are at difficulty 16,78% compared to BTC. With price around 0,063 BTC, still far away from profitability. After that 3 blocks have been mined quickly without difficulty adjustment.
Guys, don’t mind blindly! You are mining at a loss, so invest your resources strategically. The adjustment comes only if:
Time(TopBlock-6) - Time(TopBlock-12) > 12 hours
Next reductions: 13.42%, 10.74%, 8.59%, 6.87%, 5,49%. If the price doesn’t move much, you are 5 difficulty reductions away from profitability. Good luck!