Bitcoin Cash (Bcash or BCH) has been more profitable to mine than Bitcoin (BTC) on multiple occasions over the past week or two. This is creating a new dynamic within Bitcoin’s ecosystem — one which is not really beneficial for either coin.
In Bitcoin Magazine's previous article on this topic, we explained why Bcash mining should normally not affect Bitcoin too much, aside from the incidental higher fees and slower confirmations. We also explained why this dynamic could, in the meantime, ruin Bcash, as it should freeze that blockchain in its tracks.
We also noted that Bcash has a built-in emergency solution to mitigate the risk, which could get its blockchain moving again. But this solution does assume either that some miners are choosing to act against their own short-term interest at certain times for the benefit of all miners — or that miners are coordinating for their mutual benefit, on some level.
Now, several days later, it appears that this is what’s happening. Some miners are either acting against their short-term interests for specific periods of time — or they are coordinating to trigger the emergency solution.
The good news for Bcash is that this means its blockchain is still in motion for now, at least on most days. But at the same time, the dynamic generated by the emergency solution is benefiting its miners overall, more than anyone else — and it’s even calling into question the long-term viability of Bitcoin Cash itself.