According to recent data, BSV keep-Miner rewards your Block increasingly, instead of selling you on the market. Some argue that this is the result of a decline in demand for Bitcoin, SV.
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BSV celebrates 1-year anniversary
Bitcoin SV is celebrating today his first year in Mining. Twelve months ago, there was Bitcoin to Cash to the infamous Hard Fork, Craig Wright, according to the “true” Bitcoin Protocol (Bitcoin SV = “Satoshi’s Vision”) is supposed to be.
The project wanted to compete with Bitcoin Cash (BCH) as well as with Bitcoin (BTC). The Mining Hash Rate is still about 100 times lower than that of the leading crypto-currency.
BSV just couldn’t achieve the expected success. Instead, the Coin of several of the major stock exchanges delisted, including Binance was.
Their chief took BSV personally from the program, after individuals had tried to doxxen Twitter personality “Hodlonaut”. Then the BSV-price crashed to $50 on.
The BSV-Miner still get to 12.5 Coins per Block, and currently produces about 20,000 coins more than the BTC network. Alistair Milne, CIO of the “Altana Digital Currency Fund,” says also: Over 50% of the mined BSV-Coins, the Wallets of your Miner never leave.
The crypto-entrepreneurs, this could is the sheer lack of organic demand. Miners would dump their BSV on the stock exchanges, nobody would buy them. The result is that The price would collapse.
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Data from the Byte Tree support this theory. The following graphic shows the Mining-Management of BSV-and how many of the miners in the course of the year were sold Token.
As you can see, have BSV-Miner your BSV Token, up until recently, every four months, in large quantities and sold – now you have opted, instead, for the HODLn.
The cumulative stock line has risen since June 2019 further, as there is no third-party bulk sale is to be held in October. If one compares this with the net stock of Bitcoin SV in the last twelve weeks, so the increased “HODL”Rate is even more pronounced.
BSV lies fallow
For BSV the “HODL’s”behavior is also part of the expectation that the Coin could move in the near future. The expectations come from, among other things, of Craig Wright’s warning that he would “personally” in the markets and Bitcoins current price domination destroy.
Whether it will come to this scenario is uncertain. But in the case of Bitcoin, SV is also the possibility that many of the Coins are only inactive because their owners have never claimed there is.
The Split of Coins a Wallet a certain degree of risk always carries. In the past year, the dormant addresses, however, were always more – and this fits that Coins will always be hoarded more and more frequent.
A few Mining Pools support BSV
Speaking of BSV-Miner: the diversity is low compared to competitors. Among the most important Pools ViaBTC, Coingeek, Mempool, and SVPool.
It is possible that some Pools keep the rewards back in order to protect the price. Coingeek was on Social Media a very active BSV supporters and showed his support may also be otherwise.
But there are still enough miners in the BSV and your Rewards could dump. The other reason for the HODLn of the Coins is: BSV has taken over bitcoin Halving – and this is likely to arrive in the spring of 2020. Possible that the BSV course will also benefit.