BSV’s Stealth Miners Number Goes Over 55%, Community Worried
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BSV’s Stealth Miners Number Goes Over 55%, Community Worried

March 25, 2020      Zain Raza

The Bitcoin SV has been in the news lately, with stealth miners, over the last seven days these stealth miners commanded more than 55% of BSV’overall hashrate. While bitcoin and BCH only share a small number of stealth miners, the numbers at BSV are huge. A block reward reduction is just two and a half weeks away from now on for BSV’s community.

The BSV blockchain is currently undergoing massive mining in secrecy and no-one has a clue from where it’s originating. The hashrate has gone from 55% to 58% as of today. These numbers are worrying as the community stands aware that if a single entity commands more than 51% of the network, they’re capable of doing double spends and chain reorganisations. Whether it’s from an individual or multiple mining entities, remains unclear. Since January 2019, BTC, BSV and BCH witnessed a plethora of mystery miners.

While BTC has around 22% stealth miners, BCH experienced 27%. However, there was a small period where BCH experienced a whooping 68% chain dominated by stealth miners.

BCH troubles were short-lived, but the BSV dominance has been going on for a week now. BTC and BCH both have endured very little anonymous hash processing, With BTC just a little over the 5% mark, while BCH is sticking to between 2-5%.

BSV Flying in The Face of Controversy

When such controversies surround, usually a cryptocurrency endures losses or malfunctioning. However, in the case of BSV, the opposite has happened. In the last year, it has managed to over 178%. BSV is lagging behind BCH, currently trading at $178 per coin and it’s on the 6th spot when it comes to market capitalisation.

Over the last 90 days, BSV has gained a solid 178% against the US dollar. Even against its arch-rival bitcoin, it has gained a decent 62% against it.

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Zain Raza
Zain Raza

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.