Mining is supposed to be a lucrative activity, earning cryptocurrency by running specialist machines continuously. But for Bitcoin SV (BSV) and Bitcoin Cash (BCH), this simple process is proving to be far from profitable.
Miners Absorb Low Fees, Non-Lucrative Block Rewards
Miners for the two blockchains, which split off from Bitcoin (BTC) in a rather contentious manner, are working altruistically to support the chain. Additionally, both chains boast of much cheaper transactions, meaning very low additional fees for miners.
BCash & SV miners have made <$300 of combined fees over the past 24 hours. After their halvings, new issuance will be cut from a combined $600K to $300K.
Miners are already "irrationally" mining these chains at a loss (h/t @BinanceResearch).
Both halvings will occur before $BTC
— Ceteris Paribus (@ceterispar1bus)…
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