Bitcoin SV data analysis shows that the digital asset is basically a ‘’total ghost town’’ according to analyst Kevin Rooke who tweeted earlier today and we are reading more about it in the latest cryptocurrency news below.
The purpose of the Bitcoin SV fork was to increase the capacity for millions of transactions and make the entire base layer of the cryptocurrency competitive with major credit card companies such as Visa or Mastercard. This is the reason why Bitcoin SV developers want bigger block sizes mainly in gigabytes in order to be able to handle the traffic. The big data centers can handle the transaction volume but people are becoming more concerned about the centralization that comes with the barriers. Inevitably, a lot more money is needed to run a mining outfit that has to process thousands of gigabytes per week and in that case, in order to serve them all, more bandwidth is required.
With all of this Bitcoin SV data provided, there seems to be a demand for all the block space. However, according to Rooke, there is no demand and the failure of any cryptocurrency is the inability to gain any real traction. Bitcoin SV proponents are often at odds but they have similar goals with Bitcoin Cash. The only difference is that the BCH altcoin is more popular. Bitcoin Cash is not the only big competitor to Bitcoin SV. There are many of the cryptocurrencies with major popularity which boost their adoption including Bitcoin, Ethereum, TRON, and EOS.
As noted in the coming altcoin news, the point of building better-scaling blockchains like those that Craig Wright wants to achieve is that scalability is always necessary after all and this comes at the heart of the criticism. Bitcoin and Etehreum are the only blockchains effectively which face scaling limitations currently. The Bitcoin blocks are crowded so the fees are getting higher. The Lightning Network adoption is still far from over. Many in the crypto community believe that Facebook’s crypto project Libra will bring alone a huge influx of new users but in this case, the currency with the easiest usage will see the most demand.
Bitcoin SV Added 12% As Bitcoin Starts Recovery Journey
Bitcoin SV Retraces Below $100, BSV Is Still ‘Weekly Positive’
Crypto Supporters Boycott Wright’s Blockchain Conference Attendance
‘’Many of us pledged not to attend a conference that invites faktoshi. Yet you still plan to share the same stage with him. Shame.”Tone Vays is also a popular crypto analyst and commentator and he has defined himself as the Bitcoin maximalists but being featured on a panel with Wright caused a huge backlash from the crypto community. A lot of the people criticized Vays for accepting the invitation to speak alongside Wright. He did boycott another conference back in May held in New York saying that he found the concept of a ‘’Bitcoin conference by shitcoiners hypocritical as we reported in the previous crypto news.’’ Vays claims that he didn’t know Wright was coming to the panel until the last moment but he also pledged to defend Bitcoin against scammers. He also said that he is the last Bitcoin maximalist standing and that not going to the conference will bring nothing good for the attendees.
Bitcoin SV Mentions On Twitter Got Down By 87% Since May
“Dr. Wright’s demeanor did not impress me as someone who was telling the truth. I completely reject Dr. Wright’s testimony about the alleged Tulip Trust, the alleged encrypted file, and his alleged inability to identify his bitcoin holdings […] Dr. Wright’s story not only was not supported by other evidence in the record, it defies common sense and real-life experience.”Bitcoin SV’s followers supported the project because they believed Wright was the real Satoshi Nakamoto as explained in the latest cryptocurrency news before.
OKEx Expands Product Offering With Tether-Margined BTC Futures
Bitcoin Difficulty Drops, Can The Miners Survive The Halving Event?
NEO And VeChain Pose Impressive Rallies The Past Week: Analysis
Zimbabwe Believes Bitcoin Is The Best Solution For Hyperinflation
FED Added $12.7 Million Bitcoin To Financial System As Bailout
Anonymous Donates $75 Million In BTC To Increase Online Anonymity
Bithumb Global Launched Native Coin For Its Custom Blockchain
Royal Bank Of Canada (RBC) Is Set To Open A Crypto Exchange
Crypto Exchange Execs From South Korea Jailed For Fraud
CFTC Chairman Urges America To Lead The Blockchain Race
China Declares Bitcoin As Property! Central Banks Prefer Crypto? SONY “Contactless” Hardware Wallet
JPMorgan Predicts A 60% Recession, Is Crypto The Best Chance Now? | [Bitcoin News // Crypto News]
Ethereum Sees Record Number of Shorts! NEM Blockchain Hub | Samsung Blockchain Supply Logistics
Crypto Jobs Up 300%! Lost BTC 20% Rate of Recovery | Only 45% of Exchanges Meet Security Standards
DC Forecasts Proudly Backed The Global Disruptive Blockchain Innovation Summit
Join us on Facebook
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
- Ethereum News7 days ago
Ethereum Istanbul Hard Fork Set To Launch On December 4: Official
- Ethereum News6 days ago
Ethereum Is Still Declining And Will Continue Lower In The Short-Term
- Litecoin News5 days ago
Litecoin Gains 2% On The Day, Analyst Outlook Is Bright
- Ethereum News5 days ago
Ethereum Co-Founder: “We May Interoperate With China’s CBDC”
- Ethereum News5 days ago
ETH Weekly Forecast Shows That There Is A Hold Of Uptrend Support
- Altcoin News7 days ago
Silvergate Crypto Bank Goes Public In Listing On NYSE
- Altcoin News7 days ago
Maker Accounts For Over Half Of The $650M Locked In DeFi
- Blockchain News3 days ago
Blockchain Spending China Will Surpass $2 Billion In Two Years