A report prepared by Binance Research, the branch of the house of change Binance devoted to the study of the criptomercado, noted that the miners who had abandoned their tasks on bitcoin (BTC) to engage in the mining of bitcoin cash Satoshi”s Vision (BSV) and bitcoin cash (BCH), have been left to pick up more than 20 million u.s. dollars.The report, titled “Allocation of mining Bitcoin” is a research aimed to know the reasons why some miners are economically “irrational” to allocate computing resources among these three cryptocurrencies. In the case of bitcoin VS, Binance Research said:”In less than a year, the miners of Bitcoin VS could have raised approximately between 12 and 13 millions of dollars if they acted rationally in the allocation of mining resources,” said the study by reference to the functions that were left to run in the network Bitcoin.In connection with the miners that moved into bitcoin cash, the research emphasized that the estimated cost is around USD 7.7 million. For analysts, the situation could be avoided if miners BCH “were completely rational in the allocation of its computing resources”.The study, released Wednesday 18 December, considered by a part of the 13 months which have elapsed since the fork strong bitcoin cash, which occurred on the 15th of November last year, which resulted in two versions of the chain: that is called Bitcoin Cash ABC and Bitcoin Cash SV.Another part of the report considered the period between August 2017 and December of this year. This for the case of the first fork of Bitcoin that arose bitcoin cash.
Processing power
To Binance Research there are several reasons that explain the fact that the allocation of processing power is not in line with his theory of efficiency. Their analysis points to liquidity and markets, expectations of the miners, intrinsic differences and the theory of games.In its conclusions highlights that the market price was the main driver of the amount of computing resources allocated to ensure a chain of blocks, in the form of Proof of Work (PoW).Between the mining of BCH and BSV the first would be more rational from the economic point of view, while for the second there has been a loss of opportunities in 2019. According to the researchers the mining of BSV has left to grasp, in this period of time, a 15% to compare it with their mining revenues totals since the fork occurred in 2018.In the report it was also pointed out that the industry of mining cryptocurrencies has become a bouquet milmillonario and that with the passing of time has become more specialized, especially by the arrival of the equipment ASIC.The comparison took into account that so much bitcoin as bitcoin cash, and bitcoin cash VS using the algorithm SHA-256. At present the processing power, or hashrate of Bitcoin is more or less 100 EH/s (100 trillion hashes per second), according to blockchain.com while the bitcoin cash is 2.5332 EH/s, and bitcoin cash SV is 1.1114 EH/s.