The number of active addresses and transactions on the Bitcoin SV network saw incredible growth in the two days leading up to the CoinGeek Live conference in New York this week.
The active BSV addresses rose from 110,000 on September 28 to 947,400 addresses today.
That’s a staggering 761% growth rate in just two days prior to CoinGeek Live, which began at 9 a.m. New York time on September 30 and runs through October 2.
The increase in active addresses caused a stir at Crypto Twitter. Bitcoin SV and Craig Wright antagonist Arthur van Pelt have republished SirToshi’s chart, which draws attention to the fact that BSV managed to overtake the Ethereum network amid a DeFi boom. He said sarcastically:
“Seems real. Organic growth, I think. Has nothing to do with #CGLive, I bet ‘.”
Bitcoin influencer ‘Holdlonaut’ responded with a Facepalm emoji.
Transactions on the Bitcoin SV network more than doubled over the same period from 715.6K to 1,751K today. That’s a 145% growth in the 48 hours leading up to the conference. Average transaction values fell by two thirds over the same period.
However, it is possible that the spike is simply a fluke, as the network occasionally sees unusual bursts of activity. Active addresses briefly surged over 1 million on June 24, and transactions rose to 5.5 million on July 10.
The CoinGeek Live conference is primarily an online affair and includes speakers such as nChain’s controversial chief scientist Wright, Bitcoin Association President Jimmy Nguyen, and Fundstrat Global Managing Partner Thomas Lee.
In his opening speech, Nguyen said that Bitcoin SV has incentives to prevent bad behavior, noting that the original Bitcoin whitepaper mentioned the word “honest” 15 times.
According to CoinGeek’s report on Nguyen’s address, Bitcoin SV is currently processing more than 2,800 transactions per second on its mainnet and is aiming for 50,000 in the near future. The upcoming Teranode Enterprise Tier Protocol targets 1TB blocks of transactions.
Nguyen said that Bitcoin SV is “the basic set of rules for an entire network” and is “reinventing the internet”.
In somewhat related news, the Norwegian Supreme Court has dismissed Craig Wright’s appeal to jurisdiction. The Satoshi plaintiff tried to sue Hodlonaut in the UK for defamation but is now facing Norwegian courts.
Hodlonaut said the court awarded him an additional $ 6,000 on top of the $ 60,000 already awarded:
The Norwegian Supreme Court today dismissed CSW’s appeal to jurisdiction, awarding me $ 6,000 in costs on top of the $ 60,000 I owed.
His perfect loss record is intact. (4 of 4)
The real case is now being continued in Norway, where another loss is sure to await him.
Welcome to the right! https://t.co/Ue4TL4P5gp
– hodlonaut ⚡ (@hodlonaut) September 30, 2020