• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Breaking News: Breaking: Arbitrum Announces The Launch Of Its New Token ARB, Transitioning To DAO
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Arbitrum Announces The Launch Of Its New Token ARB, Transitioning To DAO
bitcoin mining millionaire
Advertisement

Bitcoin Miners Earn More in a Day than BSV and BCH Do in 1 Year Combined

Osato Avan-Nomayo by Osato Avan-Nomayo
4 years ago
in Bitcoin, Bitcoin Cash, News, News teaser
0
Advertisement

In one day, Bitcoin miners earned up to four times the revenue accrued by their counterparts on the Bitcoin SV and Bitcoin Cash networks combined.


Bitcoin is King

According to a Friday (August 2, 2019) tweet from “Shakepay,” Bitcoin miners earned $540,000 in transaction fees. This figure is more than four times the $130,000 earned by miners on the BSV and BCH chains combined over the past 12 months.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

On July 31st, Bitcoin miners earned $540K in tx fees.

In the last *12 months* BSV and BCH miners have only earned $130K in tx fees. Combined. pic.twitter.com/4wbQr3DiIs

— Shakepay – Buy/Sell Bitcoin ?? (@shakepay) August 2, 2019

Data from BitInfoCharts.com shows a far greater median transaction value on the BTC chain than the other two. Much like the trend with transaction fees, the value of BTC transactions per day outstrips that of BSV and BCH combined by a wide margin.

Bitcoin regularly posts $500,000 in transaction fees alone on a daily basis. BCH miners, by comparison, see under $200 in transaction fees per day. Back in April 2019, BSV miners were still running at a loss, five months after the chain split.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Bcash has collected $156 in fees over the last 24 HRS .

LMFAO ROFL

Bcash is an unsustainable affinity scam.

— AwyeeBitcoin ? (@DeaterBob) August 2, 2019

The top-ranked crypto is still some way off from the likes of Visa in terms of the daily transaction load. Thus, for BCH and BSV, the distance to the pinnacle of global payments appears even more insurmountable.

But for now, BTC remains the king of low fee money transfers. A few days ago, a bitcoin whale moved multiple $468 million transactions for less than $400 in fees – a far cry from the more than $1.6 million it would have cost using mainstream remittance avenues.

The revelation of the massive gap in transaction fee earnings provides further proof of Bitcoin’s primacy over the forked chains. While touted as improvements, the likes of BCH and BSV have yet to show any ground-breaking results to justify the strong arguments that necessitated their emergence.

BSV is a Weather App

As previously reported by Bitcoinist, 96% of Bitcoin SV transactions come from a weather app. With the talk of increasing the block size limit to 2GB, some have taken to troll BSV with funny commentary surrounding huge transaction blocks for weather reporting.

Earlier in the year, exchanges like Binance delisted BSV in response to the cyberbullying campaign of its proponents — Craig S. Wright (CSW) and Calvin Ayre, against people debunking the former’s claim to being Bitcoin creator — Satoshi Nakamoto.

Where bitcoin gets the bulk of the retail and institutional interest, BCH and BSV hardly get a mention.

Do you think BCH and BSV will ever be able to seriously compete with Bitcoin for dominance of the crypto market? Let us know in the comments below.


Images via Twitter @shakepay and @DeaterBob. Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Osato Avan-Nomayo

Osato Avan-Nomayo

When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

Related Posts

Bitcoin Mining

Bitcoin Miners Find Relief As Revenues Spike To Highest Since June 2022

3 hours ago
bitcoin investor

Matrixport Reveals The Investor Demographic That Is Driving The Bitcoin Rally

4 hours ago
Crypto

Crypto Fear And Greed Index Surges To 16-Month High As Bitcoin Breaches $28,000

10 hours ago
Bitcoin

Bitcoin Bullish Signal: Transaction Activity Hits Highest Since April 2021

19 hours ago
bitcoin 1970s gold fractal

Is Bitcoin Following An Explosive 1970s Gold Fractal?

21 hours ago
Banking Crisis Causes $26 Billion Increase in Bitcoin Market Cap

Banking Crisis Sees Bitcoin Market Cap Rise By $26 Billion

22 hours ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • Becoming Borderless Pioneers. Bware Labs Roadmap and...

    2 hours ago
  • Learn why TMS Network (TMSN) is growing exponentially, in...

    4 hours ago
  • TMS Network (TMSN) surging 1100%, While TRON (TRX) and...

    4 hours ago
  • Could TMS Network’s (TMSN) trading platform help...

    4 hours ago
  • Terra Classic Price Prediction Provided By Avorak AI...

    5 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.