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Bitcoin SV activity increased 761%


Days before the CoinGeek Live conference began, activity in the cryptocurrency Bitcoin SV increased dramatically. Thus, the digital currency of Australian Craig Wright (self-styled Satoshi Nakamoto), presented a growth of 761%.

In this sense, the growth of active accounts stands out, which, in number, shot up to 110,000, which were counted on September 28, before the end of the conference, already amounting to 1,000,000.

It is expected that in the next few hours, the amount will continue to grow, since CoinGeek Live, has functioned as fuel for this growth of Bitcoin SV. The aforementioned activity will conclude on October 2.

Bitcoin SV outperforms Ethereum

One aspect that should not be overlooked is that, in the same period of time, the activity of Bitcoin SV in active addresses exceeds that of Ethereum. Likewise, according to data from CoinMetrics, it is on an equal footing with the amount presented by Bitcoin.

It is not the first time that Bitcoin SV has experienced a high level of growth in its activity. On June 24, Wright’s cryptocurrency reached a similar figure of one million active wallets.

All of this suggests that the myth of Satoshi Nakamoto is still very strong in the crypto community. The fact that the developer of Bitcoin SV, calls himself the founder of the main cryptocurrency, gives his project great scope.

The media appearances and the news related to this Australian engineer have had a direct impact on the price and use of this digital currency.

According to the charts, a dramatic growth in Bitcoin SV activity like the current one has happened before. Source: CoinMetrics
According to the charts, a dramatic growth in Bitcoin SV activity like the current one has happened before. Source: CoinMetrics

Transactions soar

In the same way that the number of active addresses of Bitcoin SV increased, so did the number of transactions on its Blockchain network. In a period of approximately three days, they have increased by more than 145%.

According to data from the network, published on the CoinTelegraph news portal, transactions, within a period of 48 hours, rose from 715,600 to 1,751,000. At the same time, the medium explains, “the average values ​​of transactions in two-thirds during the same period”.

Everything indicates that the growth of Bitcoin SV activity could be motivated by the aforementioned conference. In this way, the influential Twitter user, Arthur Van Pelt, wrote that it is about “legitimate organic growth”, With a clear sarcastic tone, implying that this coin does not have the capacity to achieve such growth in an organic way.

A coin like no other

As Bitcoin SV activity continues to climb, the development of the CoinGeek Live forum presents important data. One of them is that, during the presentation by Philip Runyan, from Verydat, he stated that the network of the aforementioned digital currency has some exclusive characteristics.

BSV among the existing Blockchain networks, is the only one that can support transactions in terms of cost, speed and scale to provide services to large companies, such as the pharmaceutical industry”, He highlighted.

Thus, according to data from the conference, the Bitcoin SV Blockchain network supports up to 2,800 transactions per second. This amount could expand to 50,000 in the near future.

Whether this is true or not, or that Craig Wright is Satoshi Nakamoto, can be questioned. What cannot be denied is that Bitcoin SV already has its leading role and its importance in the general ecosystem of cryptocurrencies can hardly be erased.

The real Bitcoin

One of the main characteristics of the Bitcoin SV enthusiasts is that, being its founder “Satoshi Nakamoto” himself, then she is the real Bitcoin. In this simple syllogism, the entire official position of this coin and its followers is concentrated.

Another aspect that the owners of Bitcoin SV highlight the most is its scalability. On their web portal, they head the Satoshi Vision section with a quote from the founder of Bitcoin in 2009, in which the limitations of VISA when making transactions are highlighted.

With rhetoric similar to that of Bitcoin, BSV sees itself as the true creation of Nakamoto. They explain that the cryptocurrency of 2009 detracted from its main objectives, before which the founder himself decided to create Bitcoin SV in 2018.

Even Wright has not legally proven that he is Satoshi Nakamoto. However, it has managed to capture the attention of millions of people around the world. Meanwhile, its cryptocurrency continues to reap the rewards of that popularity, now with a further surge in Bitcoin SV activity.

Wright and his endless legal controversy

The most recent episode in the legal dispute between Craig Wright and Twitter user Hodlonaut should not be overlooked. When the founder of Bitcoin SV did not provide conclusive proof that he was Satoshi Nakamoto, criticism started pouring in on him.

One of the most active critics of the Australian engineer was the aforementioned user Hodlonaut. In response, Wright sued him in a British court for defamation last year. Since then, the setbacks for the plaintiff have not stopped.

The UK court stated that the case was not within its jurisdiction. Later, the case continued in a Norwegian court. This September 30, Hodlonaut posted on Twitter that he had obtained a new victory.

According to him, the lawsuit of the founder of Bitcoin SV had been dismissed by the Supreme Court of Norway. “Your perfect loss record is intact, 4 of 4“, wrote.

Data to take into consideration

  • The Bitcoin SV Mainnet supports about 2,800 transactions per second and, in the near future, would increase them to 50 thousand.
  • Over the past 48-72 hours, Bitcoin SV activity has soared a surprising 761%.
  • In the same period of time, transactions on the network have shot up more than 145%.
  • The increase in BSV activity is directly related to the CoinGeek Live conference that runs until October 2.
  • According to its developers, this cryptocurrency is the only one capable of providing service for large industrial transactions such as the pharmaceutical area.

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