The difficulty has changed! Miners come to papa

"Miners only switched to BCH because they knew that they could get many more blocks per hour"

Your understanding of miner profits is fundamentally wrong. Miners dont switch because they could get more blocks. They switch because it gives them more money by mining more blocks. That means even though BCH is cheap, they can still get more money from mining simply by mining in orders of magnitude more than bitcoins. The cost of coins and how much does the street value worth is calculated into the difficulty adjustment algorithm.

What is happening now is that the EDA of BCH is structured such that if the hashrate is too low then the difficulty will be adjusted to a level which is more profitable for miners. That is why miners switch to BTC when profitability is low to purposefully kick in the EDA and move to BCH until the EDA reduces the profitability. And the cycle continues.

Do you really think that BCH would leave out the price of the coin in its difficulty adjustment algorithm? Come one man.

/r/Bitcoin Thread Parent