In an unlikely event, an extraction pool has been able to capture the majority of processing power on the Bitcoin SV network. This has made the security of this Cryptocurrency and even its nature questionable. Interestingly, the creator of this Cryptocurrency, Bitcoin SV, is the “real bitcoin.”
According to bitcoinist news, It is not clear who or who is behind the extraction pool, however, the risk of acquiring the bitcoin SV network threatens network security. Nine days ago, the hassle of the Bitcoin SV network was estimated to be 675 Peta-hash per second, and it has increased to just 1535 PETA-hash per second in the past twelve hours.
The Twitter account “P00rm30ry” was the first to mention this. He posted photos on his Twitter:
Bitcoin SV is immediately caught in its own chain!
Anonymous miner (s) receiving blocks reward. No weather data or paid tweets!
Its hash power is greater than all the hassle power of the Bitcoin SV network!
It looks like another fork is being born or another is going to court!
This is not the first time that an anonymous identity has brought such a volume of processing power into the Bitcoin SV network. By the end of January this year, several individuals or groups acquired the power of rewriting the Bitcoin SV blockchain. Transactions can be reversed by rewriting the blockchain.
It should not be underestimated that the Miners may have suddenly realized the importance of this high-altitude peninsula and were looking to save it! Bitcoin SV mining has only been profitable at certain intervals; now, and with the downside of this Cryptocurrency, it seems unlikely that the miner has realized its worth.
January’s bitcoin price was heavily bullish; market manipulation is the most likely option to raise the recent bitcoin price.
The Hashing algorithm in BitcoinSV is similar to Bitcoin, so mining these two currencies can easily extract Bitcoin SV as well. But if that happens, the hash of the other two networks will have to be reduced.
BitcoinSV has experienced a lot of fluctuations since its release late last year 2018, sometimes ascending and sometimes descending. Few members of the Cryptocurrency community, however, consider BitcoinSV to be an acceptable reserve of value, while the price and margin manipulation have never been so low in the history of the Cryptocurrency. But most of the bitcoinSV’s fame is due to its creator, Craig Wright.
Experience has shown that the famous and big supporters of BitcoinSV are mostly people with not very good backgrounds. Earlier this year, an analytics company stated that none of the seven thousand daily transactions of BitcoinSV are trading real value. There is almost only one application running on the BitcoinSV blockchain, which daily records weather data!
It’s worth noting that bitcoinSV fans have a keen interest in the Cryptocurrency. But like other figures in the world of bitcoinSV, one cannot count on its fans. If you describe Bitcoin SV as a project other than “Great” and “True”, you will surely encounter its fans! As the threats to BitcoinSV soar, perhaps their opinion is back!
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