Support For Bitcoin Cash ABC Passes The Threshold


Based on a report released by one of the most respected Bitcoin network data providers, Coin.Dance, the nodes for Bitcoin Cash ABC is nearly 600% more than the nodes of Bitcoin SV – Satoshi Vision. The support Bitcoin Cash ABC has really grown within a very short time.

Large Support Base

One thing that has led to that high number of Bitcoin Cash ABC nodes is the kind of support that it currently enjoys. Three major cryptocurrency exchanges have confirmed their unwavering support and these are Coinbase, Binance, and Bitpay. Bitcoin Cash Satoshi Vision, on the other hand, has the support of Coingeek, which is definitely the largest Bitcoin Cash mining pool. A mining pool gives the miners an opportunity to mine anything that their mining devices will allow them to. It is also important to note that membership in a particular pool is voluntary and at times, could be fleeting.

At the moment, Bitcoin Cash ABC is trading quite high, followed closely by others such as Bitcoin Cash Satoshi Vision, and Poloniex. At the time an SV coin was trading at $113, an ABC coin was already trading at $414. Owning one of each of these coins would be close to $2 less as compared to owning a BCH coin. This can be attributed to the fact that the time for actual trading has not really begun.

Bitcoin Node Count: All They Are About

Launching a Bitcoin node is not an expensive affair. However, it would be quite expensive to manage a node for Bitcoin Cash for an extended period of time due to the requirements of the larger hard drives. As a matter of fact, a good number of blocks in the Bitcoin Cash chain have been way much less than their 32MB limit.

It is also imperative to note that BCH Satoshi Vision fork will increase the block size immediately at 128 megabytes. Just a single consumer with an account at a place such as Linnode or Digital Ocean is at a good position of launching several nodes for just some few dollars. This is a proof that node count is not everything. What counts here are the in-proof-of-work economies. Hash is also is not so important. The entire hash in the world could at times point at a token that was not accepted by crypto exchanges, and this ends up becoming a wasted hash.


The Issue Of Mining Hardware

There is one single factor that has been greatly overlooked with SHA256 BTC forks, and this is the fact that a huge number of old BTC mining hardware can still be found in certain corners of the world. The unfortunate thing is that such hardware isn’t profitable on the current Bitcoin chain. The current Bitcoin chain has been designed to operate with a huge hashrate composed of several petahashes. To be able to compete on this kind of network, particularly, when there is a release of new hardware, miners will have to offload their old hardware.


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    May 16, 2024 - 7:20 am


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