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Learn some important information about that Halve Bitcoin Cash is planned for tomorrow, especially for mining and the price of the digital currency.
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Bitcoin cash, the version of Bitcoin that saw the light from August 2017 will have its first Halve Tomorrow, which will lower the miner’s reward margin for creating new currencies to ensure the deflationary nature of the project and its viability in the coming years.
Acaso different
While many are clear about what will happen Bitcoin next May 13th what will happen in the network of Bitcoin cash there are not many structural differences. However, when speaking of a digital currency derived from a Hard fork (important change) made to the original currency, there are some aspects that prospects should consider to better understand the case.
Bitcoin cash as a Hard fork from Bitcoin
Originally Bitcoin cash arises due to a number of important changes in the network Bitcoin from August 1, which will trigger the birth of a new digital currency at a certain point in time that will keep the same records of existing and current assets as of July 31, 2017.
From that point on Bitcoin cash starts working independently and retains some of the properties that were already in the network Bitcoin. One of the most important has to do with that Halve in July 2016, which generated the rewards per block at 12.5 BTC.
Hence from the beginning Bitcoin cash A reward margin of BCH 12.5 (worth approximately $ 2,762 at the time of printing) is processed for each block generated. After this new one Halving, The result is reduced to a total of 6.25 BCH (USD $ 1,380) is generated every 10 minutes.
Panorama for the Halve from Bitcoin cash
As it happens in the case of Bitcoin, the new Halve It also moves some expectations among users of the digital currency, so some effects on the price of the digital currency and on mining activities can be expected.
Price development
With regard to the price of the digital currency, there are different positions regarding the development after the Halve Network, especially since it would be the first to register Bitcoin cash like another version of Bitcoin.
Originally Bitcoin cash was born in 2017 and trades at over $ 500 USD. However, after its launch, there has been a sharp decline that will result in a minimum of almost $ 250 and will peak during the boom later this year, reaching $ 3,910 in corresponds to the main markets.
Although the coming years have not been particularly positive for the digital currency since October 2019 Bitcoin cash began to recover gradually after falling below $ 200. However, after the March decline, the digital currency is on the up again, reaching over $ 250 per unit.
Analysts and enthusiasts are aiming that this reduction in the reward margin for the digital currency is positive, although not of the same order of magnitude as in the case of Bitcoin Due to the short trading history, they expect this to lead to an organic increase in value in the coming months Bitcoin cash.
Mining
However, analysts believe that the new Halve could adversely affect the network of Bitcoin cash short-term precisely because of that The new profit margin for the mining community would not be so lucrative and could endanger the sustainability of this practice due to the high hardware costs and the energy costs required for it.
Just like in the case of Bitcoin, Those who could be most affected by the cuts would be mainly mining pools, especially those with large numbers of small and medium-sized operators, who would not receive enough profits to continue these activities.
When the price of the digital currency develops favorably Halving, Analysts assume that mining activities would be much more attractive to those interested, which could lead to an increase in the volume of HASH by adding to networks such as Bitcoin y Litecoin cut in the months after the reward.
Follow that Halve from Bitcoin SV
After this Halve from Bitcoin cash, May 12 takes place on Bitcoin SV, just a day before that planned for the Bitcoin network.
Just like in the case of Bitcoin cash, the network of Bitcoin SV You will also see a miner’s reward margin cut from 12.5 to 6.25 BSV (USD $ 1,150 at the time of publication). This digital currency is more uncertain because it has a much smaller network than its predecessor, its price is much lower, its origin and development is more controversial, without neglecting the fact that it has a smaller commercial development.
At the moment there is only waiting Halve just to see how they will develop so much Bitcoin cash how Bitcoin SV Given the reduction in the profit margin for the mining community, especially at those moments when the markets are impacted by the COVID-19.
Related articles
Everything you need to know about halving Bitcoin is scheduled for May 13, 2020
What can we expect if we halve Bitcoin in May 2020?
With information from Cypher bits /. Leg crypto /. Cointelegraph
Angel Di Matteo’s version / DailyBitcoin
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