On October 17, a single miner managed to take over the majority of the Bitcoinsv (Bitcoin Satoshi’s Vision) blockchain and obtain over 80% of the hash rate Today, an unknown miner has been successful in getting more than 80% of the hash rate. Today, the hash power of unknown miners accounts for about 54% of Bitcoinsv’s computing power, and in the past seven days, stealth miners have captured 64.5%.
Unknown Hashpower Captured 64% of the Bitcoinsv Chain During the Past 7 Days, Empty block render chain useless at times
Bitcoinsv (BSV) is dealing with unknown miners who are mining empty blocks, trolling the project and capturing most of the hash power. According to Coin Dance statistics, this miner accounted for 80% of thehashratebetween October 17 and 18, 2022.
Interestingly, during the defamation trial between Craig Wright, claiming to be Satoshi Nakamoto, and the pseudonymous Bitcoiner Hodronaut, the unknown miner took over the blockchain hashrate. Wright lost the case and Hodronaut was acquitted of all claims related to the defamation case.
Satoshi, aka Craig Wright, who calls himself Satoshi, was also ordered to pay $348,257 to compensate Hodronaut’s court costs. Although the trial had not yet been decided, the unnamed miner ramped up his hashrate activity a few days before the lawsuit ended.
Instead of mining blocks with tens of thousands of transactions, miners chose to mine nearly empty blocks, rendering the blockchain unusable for long periods of time.37} BSVMiners leverageaddresses; BSV addresses “utilize 1KPST” and has successfully mined 31,111BSVto date; BSV
BSV Miner has captured the last 6 blocks and each block grant has only 1 transaction (. Recent attacks on blocks 762,740 to blocks 762,745)BSVis the first blockchain where malicious miners ravage a project and It is not a rodeo.
Bitcoin v was attacked last year and suffered a 100 block reorganization
In mid-July 2021, crypto exchanges stoppeddepositing BSVafter 78% of BSV’s hashrate was captured that month. the first week of August 2021, the network was brought to its knees as miners attacked 51% of the Bitcoinsv chain On Tuesday, August 3, 2021,the BSVnetwork endured a 100-block reorganization “wiping out 570K transactions,” according to Blockchair founder Nikita Zhavoronkov.
On October 17, 2022, when unknown miners captured about 80% of the network, the organization behind theBSVproject called the Bitcoin Associationsaid it planned to takeaction against the stealth miners.
“The Bitcoin Association is taking action to contact all relevant exchanges and miners to freeze all block rewards associated with this malicious minor and will pursue criminal charges against the responsible entity/entities.” The Bitcoin Association wrote.
The Bitcoin Association (BA) message further noted that it has been tracking miners for several months and the increased presence is causing “network problems for honest miners and businesses interacting” with the Bitcoinsv network.
In an update to the same blog post, BA asserts that “generating empty blocks is not inherently fraudulent according to the rules set forth in the white paper.” On the same day, BA also tweeted aarticlehosted at bitcoinsv.com claiming that “mining empty blocks damages the bitcoin network.”
On October 23, native crypto asset bitcoinsv (BSV) is down 3% against the USD and 1.8% against bitcoin (BTC). Year-to-date, the tokenBSVhas lost 72.7% against the greenback andBSVis down 90.5% from its all-time high recorded on April 16, 2021.
In the past 24 hours, global trading volume for theBSVwas $25.19 million, with much of the trading originating in South Korea. Today the Korean won accounts for 46.68% of theglobal traded pairs, according to data from cryptocompare.com which shows 46.68% of the global traded pairs in the BSV. Tether (USDT) is the second largest trading pair in the BSVaccounting for 35.69% of alltrades, followed by usd coin (USDC) at 8.45% ofBSVIt is followed by usd coin (USDC) with 8.45% of BSVswaps, followed by usd coin (USDC) with 8.45% of BSVswaps, followed by usd coin (USDC) with 8.45% of BSV
swaps.
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