Bitcoin Cash SV Price Today
Bitcoin Cash SV - BTC Price Graph
Bitcoin Cash SV - USDT Price Graph
Everything You Need To Know About Bitcoin Cash SV
Last August, Bitcoin had split into Bitcoin and Bitcoin Cash as a result of a hard fork. The Bitcoin Cash was a new currency initiated by bitcoin developers and miners who were worried about the future of the bitcoin currency.
Even after forming Bitcoin Cash, some groups wanted to restore the original protocol of Bitcoin and groups who wanted to establish new protocols.
This lead to another hard fork in November which split Bitcoin Cash into Bitcoin Cash SV and Bitcoin Cash ABC.
In this article, we will be trying to explain to you everything that you need to know about Bitcoin Cash SV including what is Bitcoin Cash SV and what is the Bitcoin Cash SV Price currently.
What is Bitcoin Cash SV?
Bitcoin Cash SV (BSV) stands for Satoshi’s Vision and is lead by Dr Craig Wright. Wright (nicknamed CSW) is an American entrepreneur and computer scientist who earlier have claimed to be Satoshi Nakamoto, the founder of Bitcoin.
Bitcoin Cash SV was founded in August 2018 and is supported by platforms such as Bitcoin.org and CoinGeek.
Bitcoin Cash SV wants to increase the benefits of Bitcoin miners and intends to restore the original protocol of Bitcoin for the same.
Wright visions that BSV will be able to process about 1TB (terabyte) of transactions within the next three years and he says BSV blocks will expand to about 2GB (gigabytes) in just a year from now.
BSV blocks are currently just 64MB (megabytes) and will expand to support 512MB by the next six months.
The Bitcoin Cash SV Price USD currently revolves around $80-$90.
If you wish to find the Bitcoin Cash SV price today, then you can see it here.
Bitcoin Cash SV vs Bitcoin Cash ABC
Bitcoin Cash ABC is trending higher than Bitcoin Cash SV, and the main reason for this is that most cryptocurrency trading platforms now recognise Bitcoin Cash ABC as the official Bitcoin Cash currency and has given it the title of BCH.
After the hard fork of Bitcoin Cash in November, both Bitcoin Cash SV and Bitcoin Cash ABC have been trying hard to dominate the market by winning over regarding hash power.
Bitcoin Cash ABC was able to get a jump start against BSV by controlling a hash rate of 61% with more hash power and a higher profit margin for miners.
When it comes to the war between Bitcoin Cash ABC vs Bitcoin Cash SV, it seems that Bitcoin Cash ABC has won mainly because of exchanges recognising it as the official BCH currency and Bitcoin Cash ABC holding more hash rate than Bitcoin SV.
Even though in the losing end, people like Calvin Ayre (CoinGeek CEO) and Craig Wright, who are the leading figures supporting BTC SV, have stated that Bitcoin SV no longer needs the “Bitcoin Cash” moniker and will continue to exist by representing the original Bitcoin.
What Lies In The Future For Bitcoin SV?
Despite being on the losing end in the market currently, Bitcoin SV is not going to go out of business at all.
Both Bitcoin SV and Bitcoin ABC are concerned in the long-term sustainability of the currency than short-term profits.
Even though the Bitcoin SV vs Bitcoin ABC war was a thing, it will settle down quickly as investors and cryptocurrency enthusiasts will soon learn to differentiate between the two depending on what they represent.
Overall, Bitcoin Cash is still considered secondary to Bitcoin despite having a faster transaction rate and lower fees.
However, the price of Bitcoin Cash is expected to improve in 2019 as it is supposed to reach and maintain within the $2000 level.
As we mentioned above, the competition between Bitcoin Cash ABC and Bitcoin Cash SV is quite temporary.
Even though Bitcoin Cash ABC is winning currently, Bitcoin Cash SV is focusing more on the future possibilities now.
Which means, if you are confused on which currency among these two to invest in, you should first decide on whether you are looking for a quick or long-term profit.
Bitcoin Cash SV has the potential to make it big once it implements all the advancements as claimed which will provide more incentives to miners and increase its capacity to process more transactions at a faster rate.