In one day, Bitcoin-Miner make up to four times as much revenue as their colleagues in the Bitcoin SV and Bitcoin Cash networks combined.
Bitcoin is king
According to a tweet from Shakepay, Bitcoin miners earn $540,000 in transaction fees. That’s more than four times the $130,000 the BSV and BCH chain miners have earned in the last 12 months.The main reason is of course because most investors are only interested in BTC.
Data from BitInfoCharts.com shows a much higher median transaction value in the BTC chain than the other two. Similar to the trend in transaction fees, the value of BTC transactions per day is significantly higher than that of BSV and BCH combined.
Bitcoin regularly books $500,000 in transaction fees per day alone. By comparison, BCH miners see less than $200 in transaction fees per day. As early as April 2019, the BSV miners were still making a loss five months after the chain split.
- In terms of daily transaction load, the crypto dad is still far away from giants such as visas. For BCH and BSV, the distance to the peak of global payment traffic seems even more insurmountable.
- But for now, BTC remains the king of money transfers with low fees. A few days ago, a Bitcoin whale moved $468 million for less than $400 in fees – far from the more than $1.6 million it would cost using mainstream payment methods.
- The massive gap in transaction fees is further evidence of Bitcoin’s priority over Forks chains. Although announced as improvements, chains like BCH and BSV have no groundbreaking results to justify the arguments that demanded their creation.
BSV is a weather app
96% of Bitcoin SV transactions come from a weather app. With the talk of increasing the block size limit to 2 GB, some BSVs have toddled with funny comments to huge transaction blocks for weather reporting.
Earlier this year, exchanges like Binance took BSV out of the program in response to the cyberbullying campaign by its supporters Craig S. Wright (CSW) and Calvin Ayre against people who disprove the former’s claim to be Bitcoin creator Satoshi Nakamoto. Where Bitcoin achieves most of the retail and institutional interest, BCH and BSV are hardly mentioned.