BCH (Bitcoin Cash) is now available for mining on Genesis. I have a BTC (Bitcoin) mining contract. BTC mines on the SHA-256 algorithm. So does BCH. Genesis Mining allows you to allocate your mining. Often, if you are wanting to mine on the same algorithm, you can do that. But, if you want to mine BCH, you can only allocate to BCH (Auto) which gets you the Autotrade option. The AUTO option means that mining will be done on the coin on which you have a contract. Then, Genesis will "autotrade" your contract coin for your chosen coin. So, if I choose to mine BCH (Auto), BTC will be mined, then traded for BCH, which you will then receive payment in.
My thought is: Since BTC and BCH both mine using the same algorithm, you would think that you could directly mine BCH if you have a BTC contract. What are your thoughts on why Genesis has it set up the way they do? Maybe since BCH contracts are not directly available yet, maybe that's why Autotrade is the only option available now. And, maybe that will change when direct BCH contracts become available. Thank you, in advance, for your thoughts on this!
Im building my mine now
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @millerfilm! You have received a personal award!
1 Year on Steemit
Click on the badge to view your Board of Honor.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit