Less than a year after claiming the near worthless copyright claims on Bitcoin, leading proponents of BSV are now making claims on public ledgers of Bitcoin [BTC] and Bitcoin Cash [BCH] altogether. Calvin Ayre, the founder of Coingeek and leading BSV proponent tweeted,
BSV is the only platform out there that is original protocol on original chain and it and it alone has legal rights to the database. Danger ahead for fakes.
According to their assertions, the records on the public ledgers of Bitcoin hard-forks belong to BSV.
In a reply to Grayscale Investments, one of the leading trust platforms for Bitcoin and crypto investments which does not include BSV, Ayre says,
BSV owns the entire data on chain market globally. Is undervalued on the corrupt exchanges but is still 3rd place (Ripple and Eth are not true PoW chains so don’t count to me) and will soon be number one in all catagories as scale leads to utility which leads to token price.
The claims are preposterous and bizarre because they claim to own a public database of a decentralized network.
75% of BSV Hash-Rate Controlled Centrally
As reported yesterday on CoinGape, Bitcoin SV [BSV] underwent a hard-fork. However, not many miners and nodes have upgraded to the new protocol causing a split chain.
At press time, in total, TAAL and Coingeek control exactly 75% of the total hashing power on the network. Arthur Van Pelt, an entrepreneur and BTC maximalist tweeted,
Interesting development today. Coingeek & Taal trying to save the day? The other mining pools section was +/- 50% about a month ago.
Following the old rhetoric, hash rate follows price, there has been a three fold increase in the total hash rate of BSV. However, compared to Bitcoin [BTC], the total is still less than 3%.
Bearish Trends to Ensure?
The Price of BSV at 3: 30 hours UTC on 5th February 2019 is $267. It is starting to form a bearish trend with a descending triangle. The levels of break-down confirmation and targets are $264 and $215, respectively.
Nevertheless, while techincal and fundamentals marks selling, due to the manipulation in BSV and uptrend in alt-coins, shorting BSV could still back-fire at the moment.
Do you think CSW and Ayre will be able to sway the crowd again with the database claims? Please share your views with us.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com