Wednesday, 26 February 2020

BTC.top is mining blocks at a loss when BCH mining is not profitable and the block interval exceeds 1 hour -- thank you!

Between Feb 1st and Feb 23rd, it had taken at least 1 hour between blocks 59 different times. Of the 59 blocks that broke these dry spells, 37 were mined by BTC.top, or 62.7%. The hashrate during these dry spells is otherwise about 2.0-2.5 EH/s, which indicates that BTC.top is moving about 4 EH/s over to BCH during long dry spells -- that's about 100% of their SHA256 hashrate.

This behavior started on Feb 1st. There were 175 blocks that took at least 1 hour to mine between Dec 15 and Jan 31st, and of those, only 6 (3.4%) were mined by BTC.top. Before Feb 1st, BTC.top was actively avoiding unprofitable mining. Now, they're actively seeking it out during the worst dry spells with the intent to prevent confirmation times from getting too long.

During dry spells, it's usually around 10% more profitable to mine BTC than to mine BCH, so each time BTC.top does this, they're losing around $440 in revenue. That's about $16,400 so far, or around $20,000 per month.

I think BTC.top deserves a big thank you for doing this.

I also think the BCH community needs to fix the difficulty adjustment algorithm, since that's the reason why we're getting these dry spells in the first place. Teaser: i'm working on a video and/or article explaining the problem and how we can fix it. This discovery came while doing research for that. Expect it to be published within the next few days.

Below is a list of all blocks since 613500 that took more than 1 hour to mine (according to their timestamps), what the exact delay was (in seconds), and whether they were mined by BTC.top, if anyone is curious. I also have data on who mined the rest, but I omitted it from this list to make it easier to read. (BTC.com and BTC.top were too hard to visually distinguish from each other.) If anyone wants the full list, let me know and I'll reformat it and post it in a comment.

Height Delay(s) By BTC.top? 623400 3622 623261 3659 623260 5348 623248 4208 BTC.TOP 623232 3712 BTC.TOP 623084 3756 BTC.TOP 622970 3974 622951 3915 622942 4481 BTC.TOP 622890 3626 622873 4082 BTC.TOP 622787 3933 BTC.TOP 622735 4194 BTC.TOP 622722 3755 BTC.TOP 622721 4001 BTC.TOP 622638 5511 BTC.TOP 622588 3964 622566 4057 BTC.TOP 622440 4474 622416 4085 622354 3781 BTC.TOP 622289 3647 BTC.TOP 622201 4125 BTC.TOP 622191 4280 BTC.TOP 622176 4278 622175 3722 BTC.TOP 622039 4265 BTC.TOP 621995 4500 BTC.TOP 621979 4181 BTC.TOP 621920 4141 621891 3752 BTC.TOP 621890 3960 621772 4492 BTC.TOP 621683 3720 BTC.TOP 621662 4126 621534 4192 621464 3962 621440 5588 BTC.TOP 621382 4773 BTC.TOP 621293 4651 621292 3689 BTC.TOP 621236 3895 BTC.TOP 621201 3729 BTC.TOP 621147 4196 621144 3918 BTC.TOP 621130 4305 621107 3783 621079 4236 BTC.TOP 620996 6075 BTC.TOP 620995 4969 BTC.TOP 620962 3605 620926 3671 BTC.TOP 620903 5031 BTC.TOP 620813 3652 620655 3966 BTC.TOP 620643 4319 620488 4058 BTC.TOP 620485 4191 BTC.TOP 620332 5128 BTC.TOP 620331 6599 620328 4893 620325 6391 620314 7993 BTC.TOP 620181 10053 620178 4315 620175 6068 620168 8694 620026 19146 620020 5153 619875 6057 619871 6157 619869 4263 619808 3739 BTC.TOP 619736 3652 619722 7656 619674 3794 619575 8683 BTC.TOP 619539 3702 619430 4840 619423 9801 619389 3862 619377 3728 BTC.TOP 619351 4256 619350 4981 619349 5123 619281 10944 619280 3861 619279 4983 619276 6631 619238 8044 619227 3968 619203 14757 619189 5632 619127 10043 619125 5725 619090 7957 619080 4153 619068 4711 619067 4028 619054 6274 618985 6294 618976 4737 618944 4749 618939 4651 618922 4457 618907 5814 618903 6563 618833 5929 618831 4267 618830 7402 618792 4970 618791 5590 618756 3720 618755 11999 618686 7450 618683 4016 618629 6287 618608 4324 618606 3881 618537 7128 618531 4305 618493 5356 618480 8288 618384 10289 618347 8620 618331 7653 618327 3707 618279 6803 618232 3703 618198 4941 618196 3983 618165 4349 618128 9798 618081 6702 618047 3945 617980 7241 617935 9041 617899 9446 617898 4250 617878 8215 617838 4656 617833 4040 617832 5284 617787 6471 617749 4897 617727 3874 617726 3825 617692 3624 617691 4387 617686 3948 617638 3924 617636 4978 617615 4285 617567 3844 617565 6014 617542 5892 617533 3694 617490 4706 617488 3744 617430 3601 617416 4163 617341 4505 617337 4294 617214 5503 617182 4237 617141 4712 617039 4797 616989 5527 616891 5630 616890 4253 616878 4351 616837 6353 616808 6856 616739 3901 616684 6937 616643 3985 616511 5349 616442 3677 616441 3861 616431 4102 616409 3635 616366 4009 616357 5015 616220 8265 616203 3974 616138 4263 616072 3968 616068 4223 615986 3935 615916 6312 615777 4223 615689 4657 615623 5685 615622 4249 615596 5842 615539 3608 615495 5406 615469 5132 615324 4113 615320 7684 615293 8609 615178 7036 615031 3688 615011 4059 614949 4780 614931 4492 614854 3883 614750 5807 614708 4918 614593 3813 614435 4404 614333 4273 614325 4714 614274 5628 614249 3962 614125 7269 614105 4806 614055 4164 613973 9656 613949 3879 613894 5474 613881 4014 613830 3883 613802 4842 613778 3633 613741 3842 BTC.TOP 613693 4127 BTC.TOP 613654 4900 613597 3656 613579 4159 613531 3821 613505 4027 613500 4529 
submitted by /u/jtoomim
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source https://www.reddit.com/r/btc/comments/f9jnyx/btctop_is_mining_blocks_at_a_loss_when_bch_mining/

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