Bitcoin Forum

Craig Wright’s BSV chain has been captured by a single miner

https://www.msn.com/en-us/money/news/craig-wrights-bitcoin-cash-hardfork-under-scrutiny-why-a-ban-is-imminent/ar-AA133UWh


One miner on the Bitcoin Satoshi Vision (CRYPTO: BSV) network is in total control of the hard fork, mining empty transaction blocks to capture over 80% of the BSV hashrate.

i guess a miner holding 80% of the hash rate can do whatever they want to, including denying people the right to spend their BSV. but dont worry guys, they'll get it all fixed so you can send your money soon.

i dont know why people keep discussing this coin https://bitcointalk.org/index.php?topic=5148909.0 https://bitcointalk.org/index.php?topic=5133327.0

in this subforum alone there is dozen those are two example



and yes if you hold more than 50% hashrate you can pretty much do anything on your own chain

that's where you are wrong. which is why the story is important. this rogue miner is going to get SQUASHED. deleted from the blockchain and gone. like you swat a fly off a horse's ass. :)

This was inevitable.


And looks like we see this now. It was crazy to think that BSV with 0.2% of bitcoin hashrate is secured enough to be considered safe.


achived using centralized power? XD Great crypto. Real satosi vision ;)


Fun fact is that market did not react on this. There was no price dump. Really? in 2022 people does not even care if their blockchain works or not ?:)

I can’t say I’m disappointed.

They have caused a lot of disruption & harm to many people. This is a good thing, BSV was always a massive shitcoin with no future. Nature is taking over now, let it die.

Good riddance, I mean we all know that they have cause so much disruption back then and challenge the real Bitcoin. However, investors and miners are smart and sooner or later we will see this kind of takeover.

And the bad thing is that it only takes 50% of the hashrate for a takeover, and this single miner has 80%, damn. Just shows that no one is really mining this shitcoin and hopefully those who are still holding BSV have dump it already.

It was well known that their hash rate was one of the lowest of entire group of bitcoin fork.
At this point... if it could be possible, they can decide to push for an hardfork just to kick out this miner?
In any point of view it seems just a centralized coin (hence with such hashrate in the hand of only one miner / hence if they can force an hard fork...)

How Many Bitcoin Forks Are There? You will be surprised!!!
https://bitcointalk.org/index.php?topic=5221882

Maybe not everyone remembers how many different bitcoin hard forks there were, but most of these coins are dead. If another worthless coin that was created as a result of the hard fork is removed, then the crypto world will only get better.

It's bound to end soon. This is one of the coins I'm happy to dump when it's near to its ATH like for $300 and that's sort of an achievement for me. Well, it wouldn't be surprising anymore if the entire network of BSV becomes dead soon and the price of it starts to drop a lot.
A miner that has almost whole control to its network, well, manipulation at its finest and that guy can do almost everything on it.

Very bad news for this dying hard fork. But not really bad for Bitcoin and even the larger cryptocurrency community or market. BSV of course is the brainchild of the infamous faketoshi Craig Wright. So it doesn't matter even if this shitcoin will continue spiraling down until it finally faces death. There will be those who will be losing from this of course but most of them are definitely the blind believers of the clown CSW. It should teach them a lesson or two.

BSV is long gone! When an empire was built on fake promises, it usually collapse shortly thereafter. I was 1ondering why BSV took so long to collapse. Possibly some hopeful people kept on running BSV chain. But now it's completely clear what's going to be the fate of BSV. I believe multiple exchanges have already delisted it making it one of those token which cannot sell in the market.

It's funny how BSV was faking Satoshi's vision and no ended up as a failure!

While he is chasing after holdnaut with a lawsuit, his crappy network is under siege. This is always the case with people like Craig who will stop at nothing to cause havoc.
He has tried severally to bring relevance to the network but some how people naturally don't want to deal with BSV which is a bit shocking. In no time that coin will be forgotten. Good riddance.   

Is this really true? I mean i am no IT guy but i just checked the price of Bitcoin SV and it did not move in the last few days. I would imagine that the price would heavily go down when news like the one that you posted become public because a blockchain that is completely controlled by one miner has nothing to do with crypto currency in my opinion because it is just as centralized and controlled like all the FIAT currencies.
Overall i have to say that i have never really been a fan of such forks and i am always surprised that such forks are able to maintain a relatively high price at all. In the end such forks create a lot of money out of nowhere that needs to be bought up by others first. I am always surprised that people are buying that fork coins.

It was always obvious that there wouldn't be any long life for BSV anyway, and it doesn't matter if they can recover from this or not, it never really mattered. Anyone who cared enough about this project was warned against it, and it was something that dropped significantly in the ranks even before any of this, and if they still invested then they knew the risks. Who would spend time on investing into something Craig Wright did?

It’s obvious that dude is a liar and if you believed him then it’s your own fault. With this, it’s now proven that we are talking about something that is doing a bit worse, and not a shock to anyone like me who knew it was a bad project even at the start.

Question is why would anyone want 50% of the bsv chain lol.  I mean I guess for the lols but that hashpower can be better spent elsewhere no?  And if this really is the case it should likely be just as the title says, the end. 

I sold my BSV when they started misleading the public that it was the original ideology of bitcoin that they were going to dethrone bitcoin and become the original bitcoin Some noobs got screwed by the false tales about BSV, I haven,t check t \he price for a long while now.

The whole thing and idea behind BSV is total crap and a highly centralized coin will always to control by the wallet with the highest hash rate.
80% is more or less a total control and so we shouldn't expect anything different from what we seeing at the moment in no distant time, no one will hear about BVS again just like LUNA did to investors .

It's either the miner wanted to proved his point or he wants to wreck havoc to a already dying fork. And definitely it's the end for BSV, I mean who has bought this coin anyways? it could be there is, but it is on the minority.

And we have seen some BSV thread about what is really going on behind.

For the miners who capture that 80%, perhaps he is just laughing and waiting for them to have a BSV fork, lol.

And people still believe this scam shitcoin has been alive to this date?

The shitcoin has been long dead. In fact, it died as soon as it was forked. All that Craig Wright (Faketoshi) has been doing were just mere kicks of a dying horse that couldn't even be resuscitated

This list of Bitcoin forks shows how huge holders of Bitcoin exploit the network to get more money from naive investors.  When there is a fork, there is always this thing called holders snapshot and distribute the new forked Bitcoin to the Bitcoin holders.  It was practiced before (Bitcoin forking), probably created by the people who hold a huge amount of Bitcoin to milk the market.

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It isn't a surprise that BSV will experience a 51% attack, to those who are new and have not heard about the 51% attack, you can check this article (http://hhttps://www.investopedia.com/terms/1/51-attack.asp#:~:text=our%20editorial%20policies-,What%20Is%20a%2051%25%20Attack%3F,power%20to%20alter%20the%20blockchain.) for the explanation.

BSV had already suffered the 51% attack and the recent one isn't the first time.  According to this article[1] published by coindesk on 2021, Bitcoin SV is one of the lists of cryptocurrencies that suffered a 51% attack. 

I agree with one of the replies here that BSV will be able to regain control on the network by blacklisting the attacker, or reverting to the time before the attack is created making a fork of the network while blacklisting the attacker.

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[1] https://www.coindesk.com/learn/what-is-a-51-attack/

What are the odds that what happened is just a marketing stunt so people could talk about BSV again? Craig has been doing his best suing people left and right with the help of Ayre so they could stay relevant in the crypto sphere. More than 50% control by a single miner won't look good in the eyes of the public but bad publicity is still publicity.

The Odds is highly in favor that this stuff is just a marketing stunt to get peoples attention.  We all know that the people behind BSV has no shame doing dirty tactics in order to make people believe that they are the legit Bitcoin, they even try to take the identity of Satoshi Nakamoto...  Lucky people are knowledgeable and refuted this kind of plot.


But the effect of bad publicity will take effect and it will cost them the trust of investors.

This should show once again why someone like Craig could have never created bitcoin at all, the guy cannot even maintain its fork working and now it has been taken over by a single miner, and while his fork was already irrelevant and no one in his right mind was using it I really hope this is the beginning of the end for that coin, as I am sure a great deal of the community is already tired of all these bitcoin forks which are useless and that only exist to confuse people.

you can't stop a piece of shit from stinking.

i wouldn't necessarily trust anyone who says the price of bsv is this or that, especially if it's NOT GOING DOWN  :o



i mean that would be the most genius marketing stunt in mankind's history most likely if true. even craig wright probably couldn't think of that one.

but the more i think about it,  kind of underhanded way of getting people talking about bsv because that's the only way people are going to talk about it anymore is if crazy stuff like this happens.

NEXT REVEAL: the rogue miner is Satoshi himself. not craig wright but the real one.  8)

This is complete bullshit, one miner controlling the BSV network!!! Is this what Craig Wright calls "Satoshi's vision"???!!! Is this really what Satoshi was aspiring to achieve by inventing Bitcoin!!! It is worse than centralization because one miner controls the network and can steal all the transactions that take place on the network!!! Unfortunate thing.

Wow, That's so great! fake satoshi / Craig Wright must be crying now.


Btw,
This is called a 51% attack. When a miner/node operator has more than 51% hashing power then he can do dirty things like this.

It can happen to any blockchain (possible only with such a blockchain whose number of miners/node operators is less.)

I sold my BSV more than three years ago when Kraken exchange announced about it’s delist. I think it’s ended long time ago, because if you will go to check it’s trading volume history and others things, there are no future with this junk project, but still it’s surviving for the several major exchanges, if those exchanges also delisted it then it will be vanished from the market.

Another attempt to attract the crypto community to this scam. Even without this article, it became clear a long time ago that any bitcoin fork turned out to be worthless and there is no point in using it. If the market doesn't see another shitcoin, the market will breathe a sigh of relief. Who wants to mess with a coin whose creator is completely steeped in lies?

did you see this story today?

Hodlonaut Wins Norwegian Lawsuit Against Self-Proclaimed ‘Satoshi’ Craig Wright

https://www.coindesk.com/policy/2022/10/20/hodlonaut-wins-norwegian-lawsuit-against-self-styled-satoshi-craig-wright/


After a weekslong trial in Oslo in September, District Court Judge Helen Engebrigtsen found in favor of Granath, ordering him acquitted of all claims for compensation and not liable for damages relating to the tweets.
Wright has also been ordered to pay Granath’s legal fees in the amount of NOK 4,053,750 (approximately $383,000).


he better start selling some of his bitcoin. the bills are mounting. :o

why does coingeek love bsv so much? that's something i never understood. they act like bsv is the 2nd coming of christ or something but i gotta say they did a fairly impartial analysis of this 51% attack situation that is currently going on. Conclusion? the miner in question is unhappy with the low transaction fees.

Who in their right mind will ever consider bsv as the original bitcoin? the reason why it gained much traction in the past was the pump and dump side of it, traders were able to make good profits from bsv up and down price movement, other than that there was nothing to make it able to compete with btc.
Traders are already done flipping this coin and they no longer find it profitable so almost every trader has moved on to more profitable and deserving projects. Craig tried to make bsv relevant but now he can no more keep up the act.


lol, imagine how the tables have turned against him, glad he didn't win this case otherwise his 'self-proclaimed attitude' would have been unbearable for the btc community.
finally, Craig will know his place, Yeah he better start selling up some btc to pay his debt otherwise face the consequences. Game over for Faketoshi  :D

BSV price doesn't need to move, it has already crashed so hard in the rankings so far, this was a top 10 coin at one time for some weird reason (never should have been) and right now it's nowhere to be found in the top 50 even, and that is proof enough that it's a shit project. If you could end up preventing anyone from buying it, you would do that no matter what.

There are some "crypto hedge fund" type of places that accept fiat payments, in return of doing crypto investments on behalf of people in my nation, and they literally did a whole press release about how they are never touching BCH and BSV even on early days, even though people wanted them to do it. It's that obvious to all people who know about them.

I wouldn't declare it over and done with though:

https://www.msn.com/en-us/news/crime/hodlonaut-expects-craig-wright-to-appeal-verdict-in-norway/ar-AA13mAp3
Magnus Granath, the Bitcoin advocate known as Hodlonaut on Twitter, said he is feeling “great” following his victory against Australian computer scientist Craig Wright in a defamation case in Norway, but said Wright will likely appeal the ruling and had plans to sue him in the U.K.

Imagine oweing someone almost 400 grand and then turning the tables on them and suing them.  :o

Doesn't matter though, even if he appears the ruling in UK or in any part of the globe, most likely he will lose this case because we all know that he is not Satoshi.

The bitcoin community is done with CSW, I think we are not that affected although he keep on himself to be relevant in cryptosphere. And for those who are still believing in this project? You have been conned by this person, so it's better to really move away and look for bitcoin as your main investment. The price is going to tank that maybe you can't get back your investments here, just saying.

Well now BSV in a 58th place in coingecko and if BSV will grow for a little it will be in a top50...
Anyway this is a 'specific' project using for a pump-dump scheme and for some people BSV works properly when they make money with this scheme.
Most of people didn't know about 51% attack or about control of hashrate and I think when bull market come again most of people forget about that and will buy it.
But in general project died in the beginning so it's just a matter of time when it will dessapear finally. 

Everything matters. It's not just about whether "satoshi" wins or loses his court cases but the collateral damage along the way.

The victory, however, has come at a cost, according to Granath, who said that it’s taken up “enormous amounts of time” and money. He also said it has also taken an emotional toll on him. Still, he said that he “remained calm” throughout the case.

BSV end was pretty predictable, it is "shitcoin" which used magic word "Bitcoin" in name to attract people.