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Bitcoin Cash SV

bitcoin-cash
Year 2018
Founders Craig Wright

BCHSV – does this Bitcoin Cash hardfork have future or is it doomed to fail? What are predictions concerning its exchange rate and overall destiny?

What is Bitcoin Cash SV?

A hardfork of the Bitcoin Cash currency took place in mid-November. As a result, two new coins have emerged: Bitcoin ABC and Bitcoin SV. The latter is now an outsider for currency exchanges and cryptoinvestors. Even creators of the coin themselves have turned their backs on Bitcoin Cash and proclaimed BCHSV the true coin.

Right on the start BSV wasn’t a match to its opponent in terms of value. The price was 4 times lower back then. The modern exchange rate of the coin is $77,5, the rate gap between Bitcoin ABC and Bitcoin SV still remains while the former fork, according to experts, has brighter prospects.

BCHSV occupies the 5th position right under Bitcoin Cash in terms of exchange rate. The market capitalization of the rivals is also quite similar – ₽96 billion against ₽91 billion in favor of ABC. Still, SV demonstrates an upward trend in recent days.

History of creation

Bitcoin SV emerged on November 15, 2018 after a hardfork of the Bitcoin Cash network. A necessity of separation has arisen due to serious disagreements between two developing teams. It’s an interesting fact that Roger Ver, head of Bitcoin ABC, initiated Bitcoin’s split in 2017. And then he had to face opposition of a part of the community.

A peculiar but still undoubtedly charismatic person – Craig Wright – has become a leader of Bitcoin SV. The cryptosphere is controversial about him, not least because he refers to himself as Satoshi Nakamoto. That’s basically the reason why the fork was named Bitcoin Satoshi Version.

The split of the network happened as block 556767 was reached. The separation was accompanied with constant hassles between the teams and attacks of Craig Wright towards Roger Ver. The rivalry is still going on.

Positive and negative feedback

The community of cryptoinvestors doesn’t give much credit to BCHSV. Most currency exchanges and platforms also give their preferences to BCHABC. Among negative features users note a lack of any important technical innovations. An idea of the development team to increase a block’s size up to 128 Mb has been especially heavily criticized. Practice has proven that the ecosystem has reacted badly to the previous BCH increase up to 32 Mb, let alone a fourfold growth.

Poor planning and a paucity of ideas aren’t the only minuses. Another disadvantages of the BCHSV fork that worth mentioning are:

Nowadays Bitcoin SV is considered to be an outsider. Wright, instead of improving his network’s ecosystem, prefers to confront his rivals, sometimes not in honest ways. Newsfeeds are all about the story of an unsuccessful attack of SV’s followers on the ABC network.

There aren’t many positive opinions about the BCHSV fork. People only point out the growth of its value in comparison with its initial rate. But, if qualitative changes aren’t implemented, the company won’t be probably able to stay afloat.

Development forecast

All specialists claim in one voice that Bitcoin ABC is much more promising than Bitcoin SV. The latter party has already tacitly admitted its defeat and even reported that it isn’t a Bitcoin Cash branch while positioning the coin as a “real” Bitcoin. Still, it doesn’t provide any arguments dealing with its qualitative distinctions.

Despite the negative environment, the coin still holds the initial exchange rate (or even exceeds it a little bit). On November 23-26 the price has even skyrocketed by 216 %, reaching the $120 mark.

Despite the cryptocommunity’s negative attitude, the Bitcoin SV development team still has a real chance not only to keep their positions, but also to increase value, capitalization and to attract new investors. The key point for them now is to start working on a technical component of the project. And then as early as next year the rate may come close to the $100-120 mark. A disappointing forecast also shouldn’t be excluded, up to fall in the price below the $30-50 level.

How Bitcoin SV may be applied?

The coin’s unpopularity limits opportunities of its utilization significantly. This is understandable, as the less people use the currency, the less liquid it becomes. Nevertheless, investors keep wondering how to get Bitcoin SV. If a user had had Bitcoin cash in his wallet at the moment of the split, he would have certainly received the new fork. Other options are also available:

The coin is being traded at the moment under the BSV and BCHSV tickers. The first variant has been designated by the developers themselves after the total breakup with the Bitcoin Cash network.

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