Why Bitcoin Cash’s Mining Troubles Should Scare Bitcoin Maximalists

Bitcoin Cash experienced some mining issues recently, with what is reportedly a single actor controlling a majority of the hashrate, as well as serious fluctuations with how fast blocks have been produced. Naturally, Bitcoin maximalists have been gleeful to pile on and criticize. That’s too bad, because if I were a maximalist, I’d be pretty terrified right now about what something like this shows can happen to Bitcoin.

1/ After looking deeper into this issue, there is *enormous cause for concern* as the entity in question on the Bitcoin Cash blockchain essentially has full control over the chain at this point in time. (thread) https://t.co/chTqhAE6ox

— hash.fail (@ZeroNoncense) October 26, 2019

In a low-usage speculative market, lagging price can kill security

The profit that cryptocurrency miners make is largely dependent on the price of the coin they mine, as that emission tends to have a fixed total rate. When market price lags, it affects the profitability of…