Bitcoin SV is a Recipe for Disaster with 60% Nodes Running on Single Service
According to the latest analysis run by network engineer Melik Manukyan, Bitcoin SV is currently under the risk of getting taken down as out of the total 444 nodes, one single entity has been running the majority of these nodes.
Manukyan took to Twitter to share the latest data where 266 Bitcoin SV nodes that amount to about 60 percent are on DigitalOcean. It is followed by AWS that has only 32 nodes running while Hetzner is following close behind with 30 nodes. The lowest number of nodes that is 11 are on Alibaba while OVH and Google Cloud have 15 and 13 respectively.
I just ran some analytics on #BSV nodes.
444 nodes in total.
266 are on DigitalOcean (AS14061)
32 are on AWS (AS16509)
30 are on Hetzner (AS24940)
15 are on OVH (AS16276)
13 are on Google Cloud (AS15169)
11 are on Alibaba (AS45102)
— Melik Manukyan ⚡️⚡️⚡️⚡️⚡️ (@melikmanukyan) March 16, 2019
“At least* 82.5% of all nodes are concentrated on public cloud VMs with 60% concentrated on a *single* AS network (DigitalOcean/AS14061). I can't say I'm surprised,”
This is certainly a recipe for disaster as DigitalOcean can take down the majority of the network with just a click.
“BSV nodes can only be found on a total of 59 AS Networks. Virtually *nobody* is running this thing.”
Betting On Bitcoin SV’s Future
However, looks like Craig Wright is not the only one confident in Bitcoin SV’s future as recently, Jack Liu, the managing director of Circle’s in Asia is leaving the $3 billion crypto finance company to apparently work towards
“I’ve been a long-time veteran of this industry, and I didn’t come to it by accident…Circle was a great learning ground. But I’m all about innovation…I want to step into the open and take a more direct approach and increase the number of transactions on the blockchain. I feel a sense of urgency right now. I don’t want to be 50 when it starts working,”
Meanwhile, at the time of writing, the 12th largest cryptocurrency by a market cap of $1.2 billion has been trading at $68.80 with 24-hours loss of 0.26 percent. In the BTC market as well, it has been in the loss by 0.25 percent.
Bitcoin SV started this year at about $94 and while other cryptocurrencies are up decently since then and some like Litecoin even more than 150 percent, Bitcoin SV is down about 27 percent currently since January 1st. Meanwhile, Bitcoin Cash is at 6th spot at $153, up 0.89 percent in the past 24-hours and 2.5 percent from the beginning of this year.
Bitcoin SV price chart, Source: Coinmarketcap