Binance Pool mining Bitcoin SV is now the largest! Binance Pool mining Bitcoin SV beat out Huobi for the largest mining pool since delisting the cryptocurrency in April of last year. The Binance Pool is responsible for 26.39% of all Bitcoin Satoshi Vision blocks that are mined.
According to Coin Dance, Binance Pool overtook the #1 spot as of June 16th. Huobi is a close second with 13.19% of all blocks mined.
Binance delisted and ceased trading of all trading pairs for BSV in April of 2019. The exchange explained that it regularly ensured digital assets listed on its platform meet a “high level of standard” and the decision to remove BSV was an effort to best protect its users.
Controversially, however, the delisting came at the heels of Changpeng Zhao expressing outrage at Satoshi claimant Craig Wright for issuing a $5,000.00 bounty for doxing Hodlnaut, the Twitter user behind the Lightning Torch initiative.
Crypto Twitter is aflutter with speculation that mining BSV may be a prelude to relisting the token on the exchange. The price of BSV is $175.83 as of writing.
Here’s what our own Kurt Wuckert Jr. has to say about this.
“We have been saying for many years that bitcoin is designed to create incentives to cooperate with people who you might dislike or otherwise ignore. Well, there are few rivalries as poignant as the rivalry between Binance and the miners of the BSV blockchain, but now it seems that they have set their differences aside. Binance’s mining of BSV shows that opportunities to profit can soften old grudges, and that’s a good thing!
Over the last year and a half we have seen ViaBTC, F2Pool, Antpool, Poolin, Huobi and a number of other significant nodes from BTC come over and join the BSV mining economy. Interestingly, this represents over 50% of BTC’s hash power dipping their toes in the dragon’s version of bitcoin, but Binance was NOT a pool that I expected to see, given the history between CZ and Craig Wright.
In the short term, the new addition of hash power will make BSV a little less profitable to mine while difficulty adjusts, but this shows that Binance is willing to swallow some of their bad blood, and give up some short term profits in order to participate in the version of bitcoin that scales. Differences aside, I guess I’d like to say “Welcome, CZ. I hope this is fruitful for all of us!”
What do you think? Let us know on our Facebook page!