RATE Group | Bitcoin SV Volume is Heavily Manipulated, Data Finds
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Bitcoin SV Volume is Heavily Manipulated, Data Finds

01 Feb Bitcoin SV Volume is Heavily Manipulated, Data Finds

Posted at 07:02h in Bitcoin News by

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Timothy Peterson, CFA at Cane Island Alternative Advisors, tweeted about Coinmetrics’ recent findings on Bitcoin SV (BSV) transactions, which show extremely high levels of wash trading.

Bitcoin Satoshi’s Vision, or Bitcoin Scam Version?

Bitcoin SV, the cryptocurrency led by self-proclaimed Satoshi, Craig Wright, seems to have heavily manipulated transaction data, according to a report by Coinmetrics. Bitcoin SV has been controversial since its inception, not only because it was created as a contentious fork which caused a messy split of the Bitcoin Cash (BCH) blockchain, but also because of the involvement of Craig Wright and Calvin Ayer with the project.

Looking at the data, Timothy Peterson noted that the average transaction amount on the BSV chain is smaller than 1/10th of a cent. Furthermore, the network currently reports that it handles around 700,000 transactions of these extremely small transactions each day.

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