MiningNEWS

‘Satoshi Nakamoto’ Miner Controls 40% of BCH Hashrate, Many Expect 51% Attack Soon

Over the past week, a mysterious miner calling himself ‘Satoshi Nakamoto’ has been mining on a great scale. His target is Bitcoin Cash.

The name of the Bitcoin founder seems to be loved by bad actors or at least suspicious ones. As per data from Coin Dance, the ‘Satoshi Nakamoto’ miner now controls almost 40% of Bitcoin Cash hashrate. Last week, this figure went only as high as 35%.

Many reddit users believe that this could result in a continuation of the hashwars that started in November last year when Bitcoin SV got off the Bitcoin Cash chain.

Redditors assume that ‘Satoshi Nakomoto’, who is mining BCH aggressively, could be the Bitcoin SV leader, Craig Wright.

 ‘Satoshi Nakamoto’ dominates BCH mining network

Approximately a week ago, a miner who works under a nickname ‘Satoshi Nakamoto’ started mining Bitcoin Cash grabbing 35% of the hashrate. By the start of this week, Satoshi was already in control of 44%.

When a miner gets control of the hashrate majority (that is 51%) on a blockchain, they can begin double-spending attacks.

This discussion began on Reddit a day ago, when a redditor ‘u/money78’ posted a screenshot, alerting the community about the percentage of the BCH hashrate in control of ‘Satoshi Nakamoto’.

‘Satoshi Nakamoto’ Miner Controls 40% of BCH Hashrate, Many Expect 51% Attack Soon 1

In the comment thread, other redditors assume that this miner is nobody else but the person who is already calling himself Satoshi Nakamoto – Dr. Craig Wright. According to the theories put forward by redditors, his goal is to compromise the Bitcoin Cash and make its price collapse. Also, he simply wants to make money.

‘Satoshi Nakamoto’ Miner Controls 40% of BCH Hashrate, Many Expect 51% Attack Soon 2

Assumingly, this started from another unknown miner named ‘BoomBoomBoom’ last week. Then he disappeared and his place with the same hashrate, which now has increased, was taken by ‘Satoshi Nakamoto’. Redditors have also noticed that and started ringing the alert, suggesting that these two are the same mining pool.

BCH chain protected

As for the alerts about a possible 51% attack against Bitcoin Cash, the chain has been defended by a re-org protection. This was done to prevent any attempts of the Bitcoin SV team to attack BCH.

Forbes has a foolproof method of ‘silencing’ Craig Wright

On Monday, Forbes magazine published an article which contains a method of fighting with Craig Wright, the self-assumed Bitcoin creator who is also suspected of being the ‘Satoshi Nakamoto’ miner.

The author of the article says that the major thing Wright wants is attention – whether it comes from mass media or social media. One of the ways to achieve this was Wright’s recent legal actions against several people from the crypto industry, including the twitter user ‘Hodlonaut’ and threats to Vitalik Buterin for spreading ‘libel’.

Forbes suggests that crypto news outlets should cease reporting these moves of Craig Wright, thus diminishing the amount of hype around him and Bitcoin SV.

About author

A news writer covering blockchain and crypto spheres, writes for various media outlets
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