“Satoshi Nakamoto” Mines Over One Third of All BCH Coins

Bitcoin Cash(BCH) has seen strong growth in mining activities over the past 24 hours and it is being speculated that an unknown miner is behind the surge in mining activities on the BCH network. The miner behind the surge has been signing his/her transactions on Coinbase as Satoshi Nakamoto.

It is being speculated that the unknown miner or group of miners could be Bitcoin Satoshi Vision(BSV) proponents who are dumping mined BCH for BSV to capitalize on the lower prices of BSV. The theory suggests that the dumping game by unknown miners would result in the crash of prices for BCH token. Another theory suggests that the main aim of the miners is to launch reorganization attack to discredit Bitcoin Cash network.

BSV network faced a similar attack recently due to large blocks, however experts point that Bitcoin Cash miners might have increased their computational power in order to counter the organized mining by unknown miners and help the network secure its position in the hash war.

Interestingly, the share of unknown miners increased up to 37% on the Bitcoin Cash network. The surge of mining activities also helped the BCH token to gain 13% in prices on the 24-hour price chart and reached a maximum price of $27727 before falling back to $272.60 at the time of writing.

BCH vs BSV Saga Does not Seem to End

Both BCH and BSV have been involved in hashing wars since the infamous hard-fork in November last year. Both network proponents have been trying hard to boost their respective networks and topple the other one. In early days after the fork, the hash war between the two sides led to many complications where BSV even recognized two of their own blocks.

BCH network has been able to make their blockchain robust with new developments and healthy mining activity, however, BSV network led by Craig Wright only made threats and claims, and did not put substantial developments work on their blockchain which has led to increased vulnerability for 51% attack. The recent delisting saga has also hampered the price and market capitalization of BSV, thus the move by unknown miners to disrupt the BCH network is not all surprising.