BTC.com is mining BCH at a huge loss right now

BTC.com (owned by Bitmain) is mining at a loss to artificially maintain BCH hash rate.Profitability of mining BCH has dropped to half that of BTC, but difficulty has yet to wane. The block time is so reduced that it is clear that many miners have made the rational decision to stop mining BCH. Because the rational miners have left, blocks are coming so slow that difficulty is not having time to adjust down. At this rate, even the DAA might not be nimble enough to prevent a direct death spiral. The only thing keeping BCH afloat right now is crypto socialism and irrational miners.Just like Satoshi Nakamoto intended.The miners operating at a loss may be a temporary measure to prevent the systemic instability introduced by the DAA from leading to a total failure.If a whale with interests contrary to Jihan Wu were to make a big move to collapse the BCHBTC ratio, they could double or triple the cost that this irrational mining is having on those who are engaged in it, and could likely drive away the last shreds of rational miners on that chain. This would significantly exacerbate matters for them.I will try and update this post from time to time, but as of the time of this post, according to blockchair.com:BTC.com has mined 14 out of 23 blocks (64%) since the BCH halvening.Current Streak: 7 - MULTIKILLLongest Streak: 7

Submitted April 09, 2020 at 02:02AM