While the price continues to decline slowly, it appears a lot of people are still just taking their profits.
Mining support has yet to wane, with roughly ~45% of miners still on BCC.
Screenshot taken at ~3:00 PM CST.
As you can see, some Hashrate has dropped off BCC, but not a significant amount.
Meanwhile, BTC has not gained nor lost any. That's somewhat strange and very intriguing, it appears total network hashrate went down.
Where did the other miners go ? Some other SHA-256 Coin?
5204/11640 =
44.7% of total Network Hashpower is being used for BicoinCash
It appears total network hashrate has went down nearly 1Exohash since yesterday.
Bitcoin price has fallen slightly today, but that would still put a rough estimate of BCC's worth over $1300-1400 (if solely based on Hashrate alone)
We may need to see a serious drop in Bitcoin price for BCC to gain steam.
Who knows how exactly this will play out, it has barely been 24 hours!
More to come!
Is this all correct? I saw your message yesterday and it intrigued me and i have been trying to find out information about the current hashrate distribution but besides your postings I can't really seem to find much information regarding this!
I too have been second guessing myself and looking for another source because of a comment another user posted.
My question is this, BCC has a way to sense sudden changes in hashrate and would automatically recalculate difficulty within 12 hours on sudden change, whereas legacy BTC will take days to change diff.
So, if this hashrate is not completely accurate, like from a multi-day average or something, then wouldn't we already see a massive drop in BCC difficulty?
I just checked and both legacy BTC and BCC still have the same difficulty. This is most likely the reason that BCC has stopped submitting blocks temporarily and this is also why miners are probably dropping off to altcoins rather than switch back to BTC Legacy.
I didnt know where you have found this data about network hashpower because this is the history:
Once bitcoin cash was activated, the bitcoin cash blockchain stopped growing for several hours, while the bitcoin blockchain continued to add new blocks as normal. This activation happened at 12:37 UTC when both blockchains had just mined block number 478,558—this would be the last common block shared between bitcoin and bitcoin cash. All future blocks would send the coins on their independent trajectories.
There was confusion as the bitcoin cash blockchain stalled at block 478,558. What would normally happen is that a new block would have been mined—478,559—in about 10 minutes. But as hours went by, it became clear that not enough miners were committing processing power to the new blockchain to discover a new block. This was because the new chain also inherited the difficulty threshold for finding a new block from the bitcoin blockchain, meaning a massive amount of processing power would be required.
At this stage, although the chains have split, the new chain didn’t yet have any new blocks, so was technically simply a stalled version of the bitcoin blockchain. Most observers in the bitcoin world thought it would take hours, or even days, for miners to devote enough processing power to the bitcoin cash blockchain to discover a block.
But around six hours later, ViaBTC, a Chinese mining pool based in Shenzhen that has vocally supported bitcoin cash, added block number 478,559 to the bitcoin cash blockchain. This block was 1.9 megabytes in size—nearly double the maximum size allowed on the bitcoin blockchain. Compare this to the same block on the bitcoin blockchain, which coincidentally was also mined by ViaBTC, but was only 272 kilobytes in size. Subsequent blocks, however, have been well below 1 MB, reflecting the small number of transactions on the new blockchain.
Stock split or dividend?
So there is a diference of 474 coins in both blockchains that means that the hashpwer of bitcoin is much more than bitcoin cash. In my opinion not more than 2% of network but maybe I'm wrong
I like how you have elaborated here, that's a good walkthrough of what happened.
Do you know how we can check the current network hashrate? My info is directly from viabtc, which I linked in the first post. Stats
It seems BCC is holding steady at 5.2exo and hasn't moved for hours, and the price is going up again.
If there was a substantial difference in hashrate, I would be earning more BCC, which I'm not. The difficulty should have recalculated already. Where can we view more live stats?
Thanks for the comments.
I use this site
https://coin.dance/
It has a lot of data for bitcoin and bitcoin cash