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At this time Bitcoin Cash controls over 20% of the total network hashing power and is gaining.

At the beginning of August we saw the creation of Bitcoin Cash (BCH) which was initially supported by only one major mining pool making up approx 4% of the total hashing power. As the rewards for mining BCH have grown so has the desire for more of the miners to switch from BTC to BCH. It is understandable why the miners are looking to switch as the price of BCH has sky rocketed in the last few days. It is quite interesting to note that Antpool has allocated some of its hashrate over to mining BCH as well. Antpool is the largest Bitcoin mining contributor so this has large impacts on both chains.

I feel it is somewhat obvious but I will mention that there has also been a significant drop in the hashing power of the BTC blockchain in the last week. As more and more miners direct their computing power towards BCH the less and less there will be supporting the original chain.

The difficulty will begin to rise more quickly for BCH as more hashing power is directed at it. This will help to slow down the influx of miners and will ultimately lead to miners bouncing back and forth between the chains. I believe they already have a UI with the option to switch but don't quote me on that. I can't remember where I heard or read that one.

So where does all this lead? It would be easy enough to believe that there will eventually be a price stabilization between the two chains. The question becomes at what ratio does the value balance. 50/50? Who knows. One must also still consider SegWit2x as there still seems to be drama brewing over that one.

Only time will tell us how this will all play out. My thoughts are as follows...
If you are a hodl'er you are happy...
If you sold you may not be...
but if you owned more from nothingness...
then Bitcoin Cash it must be...

Peace,
The Last Sage