F2Pool Abandons BSV as Hashrate Nears All-time Low

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• Mining pool F2Pool has announced that it will close its BSV pool on November 15
• F2Pool makes up about 6% of the BSV hashrate
• Craig Wright still claims BSV is the only cryptocurrency working correctly

Mining pool F2Pool has announced that it is abandoning the mining of BSV, which will further centralize the most heavily centralized proof-of-work coin in the cryptocurrency ecosystem. F2Pool posted an update on its website to say that it had decided to close its BSV mining pool from November 15, which removes around 6% of the BSV hashrate. The news casts further doubt over BSV cult leader Craig Wright’s recent claim that BSV is the “only thing working correctly in this entire industry” and Calvin Ayre’s constant claims that BSV has “already won” against Bitcoin and other cryptocurrencies.

F2Pool Will Stop Supporting BSV on Tuesday

F2Pool announced its decision to stop mining to BSV yesterday, without giving a reason for the decision:

F2Pool miners have until Tuesday to point their miners somewhere else. The entity has also closed down its Bitcoin Diamond (BCD) and Monero (XMR) pools in the last week.

BSV is chiefly mined by three entities, TAAL, svpool.com and F2Pool, with ‘unknown’ miners making up the second biggest miner. TAAL is the biggest named miner, and until recently mined over 50% of the hashrate, until a series of 50% attacks on the BSV blockchain led to the company seemingly reducing their exposure. However, many believe that rather than a series of anonymous miners suddenly stepping into TAAL’s shoes, TAAL is still mining the majority of the hashrate but disguising its name.

BSV Hashrate Still Scraping the Barrel

The news that the BSV hashrate has become more concentrated comes as the hashrate itself continues to rumble along historic lows, as it has been since July, while its daily transactions have this month at least arrested a 11-week downward spiral which has seen the number crash from 2.3 million to 33,000.

It isn’t just F2Pool that is walking away from BSV either – crypto payment processor CoinPayments is also delisting the coin on November 19. Despite this, BSV co-creator Craig Wright claimed in his private Slack channel that BSV was the only project working correctly in the entire cryptocurrency ecosystem, while financial backer Calvin Ayre continually claims that BSV has “already won” against Bitcoin.

If this is victory, we would hate to see what defeat looks like.