In life, generally speaking, you should always be wary of counterfeits. In the case of Bitcoin, this is even more true!
So you have the real Bitcoin, BTC, which was officially launched on January 3, 2009, by Satoshi Nakamoto.
In the summer of 2017, some people tried a failed putsch during the Blocksize War. So they created an ersatz Bitcoin, Bitcoin Cash, the BCH. From there, you had Craig Wright who himself hard-forked Bitcoin Cash in order to create the Bitcoin Satoshi Vision, the BSV.
Why make a new hard fork of Bitcoin? To improve the scalability of BTC and BCH which was not good enough in his eyes.
Craig Wright, who still claims to be Satoshi Nakamoto, considers BSV to be the authentic version of Bitcoin. He wants his ersatz BTC to become a currency used all over the world for everyday transactions. Recently, an anomaly was discovered on the Bitcoin Satoshi Vision network:
A single miner on the BSV network controls more than 80% of the Hash Rate!
This miner has managed to have total control over the BSV network. It should be noted that he mined empty transaction blocks. It appears that the miner has achieved a 51% attack.
The data reveals that the miner managed to accumulate more than 9,000 BSV. This miner was mining empty blocks since September 9, 2022. It should be noted that there was some consistency in the Hash Rate of Bitcoin Satoshi Vision before the miner went online.
There was, however, a spike around June 2022.
Upon hearing the news, the Bitcoin Association, which is based in Switzerland, urged miners and exchanges to crack down. Indeed, it has asked these various crypto players to block the miner. In fact, mining empty trading blocks allowed the miner to earn the reward of blocks without the required transaction fees.
The miner earned a significant amount of money with the number of tokens he managed to accumulate. It should be noted that BSV costs about $48 currently, for a market cap of around $920M.
Moreover, empty blocks do not generally contain information about transactions. Let’s specify that they only contain it on the Coinbase crypto exchange. That said, the problem with empty blocks is that they leave more profitable transactions in the mempool. The mempool is the set of transactions waiting to be executed on a blockchain.
This is why you should be very careful when investing in Bitcoin. There is only one Bitcoin that has the potential to change the world of the future for the better, and that is BTC. BTC is the one, the true, the only Bitcoin.
In fact, the Bitcoin network (BTC) has never been hacked in more than 13 and a half years of its existence. Surely not a coincidence, and something that confirms that Bitcoin is the most secure decentralized network in the world. Something that is essential when it comes to placing the fruits of your labor in a safe place to protect it from the ravages of inflation and censorship by the powerful in the current system.
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