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Shady Bitcoin Cash Address Raises Questions About the Network’s Real Activity

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Mon, 05/06/2019 - 14:39
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According to Twitter user @IamNormand, a single Bitcoin Cash address is responsible for half of the transactions on the network over the last month. His tweet made everyone curious about the source of this unusual activity.

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A hyperactive address  

Bitcoin hard fork Bitcoin Cash is vying to prove that it can replace its older brother. In order to create this veneer of popularity, the network might have gone as far as artificially ramping up the network’s activity with the help of one address. The owner of the address (whoever that person is) has made over 575,000 transactions in less than a month (49 percent of the total number).   

The very first transaction was made on Apr. 8. It is worth noting that many money transfers were probably conducted automatically since the address would often send the same amount of crypto: 0.00000731 BCH. The address doesn’t operate many coins – it only sent $19,298 worth of BCH over the span of a month, which is far from being a crypto whale.

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Roger Ver, is that you?  

Some crypto enthusiasts couldn’t resist the temptation to jokingly suggest that Roger Ver himself might be behind the plan. Ver, who is better known as ‘Bitcoin Jesus,’ is one of the most ardent Bitcoin Cash supporters who is currently engulfed in a legal battle with self-proclaimed Satoshi Craig Wright.  

Another user explained that the transactions were attributed to the Minecraft-like gaming platform Craft.crash that is based on the Bitcoin Cash Blockchain.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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