HomeMiningPhoenix BCH Miner Elevates Hashrate to New Highs, Raising Concerns Within the...
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Phoenix BCH Miner Elevates Hashrate to New Highs, Raising Concerns Within the Community

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The rise in hashrate allotted by unknown miner Phoenix to the BCH community has raised questions concerning the true motives of this motion. Phoenix took BCH’s hashrate to over 10 EH/s, processing a related a part of all of the blocks and receiving the correspondent subsidy over the last days, however the group warns this is perhaps a preparation for an assault.

BCH Reaches Hashrate ATH, Phoenix Miner Hashrate Allocation Sparks Hypothesis

The Bitcoin Money (BCH) community has been taken by storm, as its hashrate has elevated nearly threefold with the introduction of a brand new miner, Phoenix. Phoenix processed 88% of all of the blocks mined on June 3, taking the BCH community hashrate to all-time excessive (ATH) numbers of over 10 EH/s, capturing a superb a part of all of the recent BCH mining subsidy.

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Nonetheless, the bizarre nature of the state of affairs, particularly contemplating the current market downturn, has woke up considerations within the Bitcoin Money group, provided that there isn’t any obvious motive for this motion. The Bitcoin Money Podcast said that this is perhaps spurred by the intention of a miner to acquire BCH earlier than an occasion which may spike exchanges from BTC to BCH, just like the upcoming Mt. Gox coin launch.

One other opinion touches on the chance that this is perhaps a preparation for an assault on the chain. It said:

Massive quantities of hashrate showing towards profitability is v uncommon – value normally leads hash. Typically a hashrate add assault > hashrate rug assault, so giving time for BCH DAA makes this much less seemingly.

This sudden influx of hashrate may have an effect on different miners, who must reallocate to BTC to stay worthwhile, or the BCH value should rise. The Bitcoin Money Podcast pressured that “in some unspecified time in the future, the value should begin mooning to mirror the elevated hashrate confidence.”

The final event when BCH hashrate rose equally was throughout March, and this habits was adopted by a value enhance that took BCH circa $700.

What do you concentrate on the BCH community hashrate enhance and the involvement of Phoenix? Inform us within the feedback part under.

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