- Timothy Peterson has reasons to believe that the increase in the transaction-related activities in the Bitcoin SV network isn’t natural.
- The developers behind Bitcoin SV have periodically declared that there is a wide variety of applications working on the Bitcoin SV network.
Timothy Peterson, a member of Cane Island Alternative Advisors, has reasons to believe that the increase in the transaction-related activities in the Bitcoin SV network isn’t natural. The data manipulated to show an increase in the activity.
After going through the data provided by the CoinMetrics service, Peterson found something odd. He analyzed the data thoroughly and found that the average transaction amount of the Bitcoin SV platform is 0.1 cent.
Since January, the network has shown that it has been dealing with over 700000 transactions every single day. What made these transactions odd is that each of these transaction has a value of precisely 0.1 cents.
The researcher, Timothy Peterson, notes that on looking at these figures from an economic point of view, they don’t make any sense. He claims all this activity data is senseless and cannot be an out of actual transactions. This finding makes it clear that the data shared by Bitcoin SV forged.
On looking at the graph provided by the CoinMetrics service, you will see that it is showing an increase in the middle of the transactions, which is highly unnatural due to its sharpness. This sharp increase was first seen at the beginning of January.
This would have considered a mistake if it happened for a few days and then returned to normal. However, the data shows that the increase continued until the middle of the month, where it peaked.
Humans cannot be behind these trade turns due to their unusual nature. It is the work of bots that used to fake the figures. This false data created to show that the blockchain is very active so that new users would join in.
The developers behind Bitcoin SV have periodically declared that there is a wide variety of applications working on the Bitcoin SV network. However, in the previous analysis, it was discovered that only their weather application was showing any activity on the network. This discovery means that the figures manipulated to attract new customers.