



Block Found in last 24 hours









Profitability Calculations.













What will inefficient BTC Miners do?





Before Halving 11250 BTC @ 9500 = $106.8 million = $0.89 per Exahash (120 Exahash)

After Halving 5625 BTC @9500 = $53.4 million = $0.56 per Exahash (95 Exahash )





BTC hashrate must reduce to 70 Exahashes to equate pre halving earning levels. It is currently 91 Exahashes (15/5/2020) . A reduction from 95 yesterday. Where will these miners go will they move to BCH and BSV or will they shut down altogether?









Can they move to BSV or BCH ?





5625 BSV @ 190 = $1.06 million = $0.75 million per Exahash ( 1% = 1.4 Exahash)





Since BTC halving the hashrate of BCH and BSV have increased to 3% and 2% respectively. However the miners who moved here will also be mining unprofitably as the price of BCH and BSV remained stagnant.





Since 11 May 50 Exahashes have been turned off. Only 87 Exahashes are left mining on BTC and it needs to decrease even more. As a result the BTC chain is slowing down. The next difficulty adjustment is expected in 4 days and perhaps more if more miners stop mining. Even if it makes it to the next difficulty adjustment, the next difficulty is expected to increase from 16.1 T to 16.48 T !! This is a serious problem for the BTC chain.





This situation is fluid and developing. The BTC mempool is increasing fast.









It now cost over $5 to transact on the BTC chain. This situation will get worse.





Why is the price of BCH ans BSV stagnant?





Since halving the price of BTC moved from $8700 to $9700 but the price of both BCH and BSV did not move in tandem. This can only mean that the supporters of each chain have remained steadfast.





BTC supporters are unable to push the price past the required level of $14,000 at least. BSH and BSV supporters can remain where they are. Unless BTC supporters moved over to either of these two chains their prices will remain stagnant. The ball is in BTC supporters court. As the mempool bloats, and cost of transactions get ever higher, panic will set in.





Because BTC chain is slowing down, it is unlikely that BTC price will go any higher. If panic sets in BTC price will collapse. At time of BTC halving it was expected that the next difficulty was to be readjusted in 6 days that has now passed and it is expected to take another 3 days. I suspect that it will be even longer possibly another 6 days. If this is true then the next difficulty adjustment could take as long as a month! Something will break before then.





BTC miners have been net selling mined coins since the halving









This graph from Byte Tree shows the net selling by BTC miners since the halving.





















Drop In BTC Hashrate