You might be surprised that it's been pumping lately, but I assure you this is no reason to begin to believe Craig and his group on any of the claims they've made. As a matter of fact, it turns out that the reason for this latest pump is literally fake news. In other words, a photoshopped image that "shows" Craig moving BTC from a Satoshi wallet.
For the life of me, I can't understand why people would not check to see if it's true prior to losing their minds, but there you have it. Just like that BitcoinSV pumped 100% in a day and I'm sure the scammers made like bandits on this artificially induced rally.
I'm pretty confident that BitcoinSV is somewhat of a timebomb at the moment. It's comparatively very easy to do a 51% attack on the network, it's very easy to pump and dump on it, and what's even more concerning is that the tx fees for miners are so low, the whole network, in a day, is producing less than a minimum wage job. Yes, you read that correctly. It's so cheap to use SV, that the miners are practically giving away their work.
For clarification: The whole network made the same as an eight hour minimum wage job in fees for miners. So, How can we expect this to survive long term? It sounds irrational to expect this weakness to not be exploited real soon.
I'll stay away, it can pump all it wants, but I'm not touching a time bomb like that.
MenO
