Why not mine Bitcoin Cash instead of Bitcoin?

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nonce680Full Member
Posts: 15 · Reputation: 606
#1Jul 16, 2019, 03:35 PM
So, Bitcoin isn't the only cryptocurrency that uses the sha256 algorithm. I'm just curious why folks are still buying these NerdQAxe miners to go after a Bitcoin block. I mean, wouldn't it make more sense to put that limited hashrate towards Bitcoin Cash instead? Hasn't anyone thought about this? Bitcoin Cash has a way lower difficulty, so the odds of actually solving a block are way better than trying to mine Bitcoin solo. Honestly, I can't help but think it’s just greed driving people to hoard those BitAxe miners for Bitcoin solo mining, especially when you could potentially spend a decade without hitting a block. Sure, BCH isn't valued as high as Bitcoin, but solo mining seems like a smarter move with BCH. What do you all think about this?
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#2Jul 17, 2019, 05:01 AM
Bitcoin Cash difficulty is 1.18 trillion. With 4.8 TH/s, that gives you ~3% chance of hitting a block once a year. That's once every 34 years. So, it's still a miracle, only it pays you ~$1,700 instead of $215,000. Why not try the miracle that will actually pay you good? There's also a case to be made that Bitcoin Cash will not be around in 34 years.
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fork_quantumFull Member
Posts: 270 · Reputation: 675
#3Jul 17, 2019, 09:05 AM
You know that NerdQAxe miner Its primary value lies in its use as a "lottery miner" for solo mining or as an educational tool so its for fun unless you have free electricity most of the "home miner" isnt really profitable because the noise and power that they used. Ouchhhhh hahahhaha
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blockhubMember
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#4Jul 17, 2019, 11:36 AM
There's no problem switching to mine solo with BCH if you think you have a chance. Yes, you do, but still, it depends on how lucky you are. There are more coins under SHA-256 you might get more chances to mine a single coin by mining them, but the problem is most of them are shitcoins with no value or are very cheap. So it's still not worth it if you are going to mine other coins rather than try your luck mining BTC. If you interested to other coins, check this site: https://miningpoolstats.stream/ Then just type SHA-256 under algorithm.
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#5Jul 17, 2019, 01:45 PM
If you are looking at  block every 34 years a switch to a block every 140x34= just under every 5000 years. And the  cash of 3,400 vs 200,000 is meaningful difference. Myself I point 1th bitaxe at ckpool. 66th at bch but using pps+ And 2.5ph at btc using pps+
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#6Jul 19, 2019, 03:01 PM
I've been thinking about your post. The average Bitcoincash reward is 3.15 BCH, or $1,790. This amount will pay for the hardware, but won't change anything. The Bitcoin reward would be over $200,000 now. In both cases, it's very difficult to win, but a reward of $1,790 seems small, considering all the risks and difficulties.
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dr_pixelMember
Posts: 217 · Reputation: 93
#7Jul 19, 2019, 07:00 PM
If you can wait for many years before solving a block on BCH why not just solo mine BTC instead? The rewards are significantly different, I would rather waste time on trying to solve a BTC block than BCH, its common sense. There is also a big risk at play here, BCH might die some day just like the other BTC forks in the past, its best to risk your time and effort on BTC rather than anything else. If you can't take your eye off BCH then toward high numbers of solo miner to BTC and use 1 or 2 on BCH, this is still a safer play I believe.
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#8Jul 20, 2019, 12:26 AM
If you are going to solo mine bch.  You would need to use a s21xp it should hit 2 blocks in a year. So if it should hit 2 it could hit 4. Which would be a 3500 usd  profit. The odds are not terrible for that to happen. Of course  you could hit 0. And have a loss
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blockhub968Full Member
Posts: 1069 · Reputation: 317
#9Jul 20, 2019, 12:37 AM
The most common reason are Bitcoin is much more popular and many guides written for solo mining Bitcoin. In addition, WhatToMine currently says other SHA-256 could be more profitable. But people don't do that since the profitability could be dropped later or you may need to register on different exchange to sold the coin. Source: WhatToMine with NerdMinerNerdQaxe++ hashrate/watt
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foxioNewbie
Posts: 180 · Reputation: 27
#10Jul 20, 2019, 08:34 PM
I have been thinking about creating a topic about this but I don't want to, maybe my question can be answered in this thread maybe, I want to ask how much is s21 miner right now? Because a friend messaged me asking if $1500 is a good price for s21, I don't own one but the price seem off to me, too freaking cheap for something as massive as s21, I feel he is walking into a trap 🪤. Someone should kindly please reply, I need more facts to help save him from falling into a scam. Also with 250 Terahash and counting from s21xp miner, that's a lot hashrate already, is it not better to mine Bitcoin on solo rather than directing it to mine Bitcoin cash ? A Bitcoin solo solved with s21 is better than 4 BCH solved blocks I think.
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#11Jul 20, 2019, 10:02 PM
Please clarify what ASIC you are talking about, whether it is new or used. I'll give you the prices in my country. "👍S19 86 th - 85$ Used 👍S19 90 th - 100$ Used 👍S19 95 th - 120$ Used 👍S19 j pro 96 th - 140$ Used 👍M50s 128th- 355$ Used 👍M50s 130th- 365$ Used" NEW "▫️S21 XP 270T- 4230$ ▫️S21+hyd 358T -3200$ ▫️S21+hyd 338T -3080$ ▫️S21e hyd 288T -2070$ ▫️S21e hyd 310T -2220$ ▫️S21e hyd 332T -2370$ ▫️S19xp+hyd 293T -1540$ ▫️S19xp+hyd 279T -1440$ ▫️S19xp+hyd 266T -1390$" https://t.me/marsx2/4506 It's very difficult to find a Bitcoin block on the S21 XP.
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