Bitcoin SV (BSV) Review, Price, Market Cap and more | Coinopsy

Bitcoin SV (BSV) Review, Price, Market Cap and more

Bitcoin SV (BSV) - Satoshi Vision

Bitcoin SV is a hard fork of Bitcoin Cash. The leader of the project is Craig Wright, who left the BCH team to create the BSV fork for stability, security and scalability reasons.
Bitcoin SV's current price is $189.396 USD. In the past 24 hours, Bitcoin SV's price has increased by +5.9 percents..
Name (Ticker)
Bitcoin SV (BSV)
Price (USD)
$189.39580425
Rank
7
Active Supply
18.4 million
Total Supply
18.4 million
Max Supply
21.0 million
Volume(24H)
3.1 billion
Market cap
3.5 billion
Fun Name
Satoshi Vision
Website Links

Chart

Pros

  • Scalability
  • Security
  • Lots of exchanges

Cons

  • Divided projects
  • Not time tested

Review

Bitcoin SV is a hard fork of Bitcoin Cash, so we must first understand a hard fork and why it happens.

What is a hard fork?

A hard fork is when single currency splits into two currencies in simple terms, If you own the single currency beforehand you will own the same amount in both after.

Profit

In this case you would of made around 40-60% profit from the fork. Because if you owned say 1 Bitcoin cash ($200), after the fork you would of owned 1 Bitcoin cash ($200) and 1 Bitcoin SV($100). This was calculated off late 2018 prices.

So from this point you could chose to keep both, sell both or just keep the one you like the features/team and a range of other things you find the best choice of investment and currency.

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BSV vs BCH

Since BSV and BCH are the main competitors to take the original chain's place as the number one BTC, it is logical that we look at an analysis of how the two compare to each other.

IntoTheBlock’s Address analysis reveals that the growth patterns on both BCH and BSV are relatively similar with BSV growing a tiny bit faster.

The same analysis shows that BSV is processing quite a bit more transactions than the BCH network.

Furthermore it appears that both BCH and BSV are well adopted in Asia and the rest of the world. In the case of BSV, the balance is almost 50–50.

As an Investment, Both BCH and BSV Have Been Incredibly Profitable but BSV Takes the Crown for Now. This is not exactly a surprise, the short history and the recent price spikes on BSV has made it almost impossible to loose money with it and BCH hasn’t been bad either.

Large transactions (over $100,000.00) could be a sign of price rallies. IntoTheBlock’s Large Transaction analysis shows that, while the BSV network has more transaction activity, BCH has a disproportionally higher number of large transactions.

Project Aim

  • Restoration of the Original Bitcoin Vision

The Bitcoin SV project begins by restoring what was the original Bitcoin protocol. We embrace the fact that Satoshi used script as a predicate to enable functionalities that go hand in hand, and beyond the function of cash. Re-enabled Satoshi op_codes provide the methods needed for smart contracts, tokenisation and other advanced technical functions to be done on BSV. The original protocol has what Bitcoin needs to thrive, and should be allowed to flourish without constant changes.

  • Stability

Once restored, the Satoshi protocol needs to remain stable. The protocol should be locked down except for any critical security fixes that might be required. This stability will give enterprises of the world confidence to build their applications and projects on top of BSV. Just like the Internet lives on a protocol that has changed very little since its beginning and allows businesses to reliably plan long term projects on the platform, the Bitcoin SV blockchain will provide the same stability.

  • Scalability

The next key pillar is to ignite massive scalability on the BSV blockchain according to future market needs, rather than just viewing current payment transaction volume. Potential demand is a function of supply (among other things) and we intend to provide the capacity for BSV to act as the foundation for the entire financial world and many other industries. Major enterprises want to know the blockchain has sufficient scale for their projects before they commit significant resources and time to build on BSV. Miners needs massive scaling to earn more money from transaction fees in order to offset the block reward halving over time. Therefore, block-size limits need to be many magnitudes bigger than current throughput demand and ultimately allow for unlimited growth.

Project Launch and Fork

BSV forked from Bitcoin Cash, under the leadership of the controversial, for some, Dr.Craight Wright. Bitcoin SV developers laid out an aggressive roadmap for restoring what, in their view, is the original Bitcoin protocol. The roadmap emphasized four main objectives: scaling, bolstering security, improving the payment experience, and restoring the protocol. Today, parallel block validation is the only item on the roadmap that has not been addressed — it was deprioritized to support scaling improvements. Everything else on the list is either complete or underway.

 Quasar, which was the first milestone of BSV's roadmap, occurred on July 24, 2019. This upgrade is focused mainly on scaling, with the biggest change being an increase to the default block size hard cap to 2GB. Many BSV proponents believe this move will help unlock massive on-chain scaling power and enable BSV to be the global enterprise blockchain. Prior to the Quasar upgrade, BSV could already process more than 300 transactions per second without issue, but now BSV is expected to surpass 1,000 transactions per second.

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Hardware Wallets

As always, there are two obvious choices for hardware wallets Ledger and Trezor. Both of these offer BSV support.

Ledger

As for using the Nano Ledger S, the first step towards setting up your device is unboxing your device and checking if you have received all the accessories with the device. Once you have unboxed your device, you need to configure it and initialize it before being able to use it. The process is quite simple and will hardly take about 20-30 minutes, post which you will be set to use your Ledger Nano S device.This video does a pretty good job of explaining how the setup works.

Trezor

As for Trezor, installing is really simple. To properly install it users should attach the unit to the computer. After that continue with installing the bridge which allows the Trezor to join with the computer. The first step is to connect the Trezor to the device’s USB slot with the cable given in the box.  After that, go to myTrezor.com and proceed with installing the browser extension. Trezor can also be used on Android or an iPhone, or on a Windows or Mac computer. Now, initiate the extension and myTrezor will direct you to pick a PIN. After this, you will notice nine buttons but the numbers are hidden. After this, users should check the Trezor’s screen to recognize which numbers are in which place because it switches every time. Now set the PIN. Shortly after, Trezor should present a 24-word wallet “seed”. In short, one word at a time. Note down this seed and save it carefully. If your Trezor device malfunctions or is lost, you can utilize the seed to reconstruct the complete wallet.This video explains how to set up your trezor quite well.

Desktop Wallet

Electrum SV

ElectrumSV is a fork of popular Bitcoin wallet- Electrum.

ElectrumSV is a lightweight desktop client maintained officially by Bitcoin SV. The good thing is, it doesn’t require you to download the whole Bitcoin SV blockchain.

You can easily manage and store your BSV coins on Electrum and still access all the features of the Bitcoin SV blockchain. Electrum SV also integrates with Ledger Nano X & Ledger Nano S to give you the best of both the worlds, i.e., the security of hardware with the easy to use interface of ElectrumSV.
 

Exodus

Another good example of a desktop wallet that supports BSV is Exodus, which supports numerous other cryptocurrencies along with BSV and is pretty straightforward and easy to use. Just download the app from the official site(exodus.io) and get straight into creating your wallet.  Exodus stores your Private Keys on the machine you choose and not on any server, providing you with a relative peace of mind when it comes to the security of your coins. 

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