Current price Bitcoin SV:
What is Bitcoin SV (BSV)?
Bitcoin SV (BSV) is a cryptocurrency created in result of Bitcoin Cash (BCH) hard fork. When the Bitcoin (BTC) net split, the new cryptocurrency community was not in agreement on its further development. Two opposing groups formed around Bitcoin Cash. One of them followed the same principles applied from the beginning to BCH, the other one wanted the miners to have another consensus rule for Bitcoin Cash. That is why on 15th November 2018 a further net split occurred, creating Bitcoin SV as a result – also called Bitcoin Cash SV (BCHSV).
Who and why created Bitcoin SV?
Bitcoin SV cryptocurrency has been developed by nChain company, run by Craig Wright.
I believe you’ve heard the name before. It’s Craig who claims he’s the Bitcoin creator himself - Satoshi Nakamoto.
Craig Wright tried to convince the world to his words multiple times. But he was never able to present enough proof to support them. So, the cryptocurrency community considers him a self-styled Satoshi Nakamoto.
Why was the Bitcoin SV created? Well, according to Craig Wright it’s the realization of the Bitcoin designer vision. The full name of this controversial cryptocurrency is Bitcoin Satoshi vision.
Bitcoin SV main principles
The project’s white book says, that BSV aims to become the most popular and most commonly used cryptocurrency in the world. Moreover, it’s supposed to be fully decentralized, however, it’s hard to discuss the subject as the company owning Bitcoin SV is a private one. It’s also interesting is that over 80% of the computing powers of the BSV net lays within three mining pools, belonging to the creator and promoters of the cryptocurrency.
The vision of BSV cryptocurrency focus on 4 elements: stable protocol, scalability, safety and secure on spot transactions.
4 elements of BSV vision
BSv Team announced, that the cryptocurrency target is to ensure stability with the limited and well-known changes set, planned to bring back the original Bitcoin protocol and to allow for innovations based on a stable primary protocol.
If Bitcoin SV is to function as a global financial platform, it must prove it’s ready to process the required transactions volume. That’s why BSV focuses on enlarging blocks size and increasing productivity. Mass scalability is supposed to allow Bitcoin SV blockchain to process more transactions and increase the transaction fees for the miners. Scalability should also convince companies to use BSV in applications based on blockchain. And that requires large blocks and a high capacity.
To become a global currency BSV must ensure safety level corresponding with the global finance system one. To achieve that, Bitcoin SV focuses on high quality standards of its mining software. First of all, it uses external specialized knowledge in the field of quality control. The project also cooperates with audit companies. Second of all, Bitcoin SV runs a bonus scheme, rewarding for any bugs detected. It’s supposed to motivate and mobilize the safety controllers to search for and report any security breaches.
Secure on spot transactions
BSV considers the security of on spot transactions as its top priority.
Bitcoin SV vs. Bitcoin Cash - differences
Although, BSV and BCH share some common features, there are many differences between those cryptocurrencies. The main one is the maximum capacity of a transaction block. In Bitcoin SV it’s 128 MB (it’s planned to be increased to 512 MB in the future), in Bitcoin Cash it’s just 32 MB (it was primary 8 MB).
While BSC decided to implement canonical transaction ordering, BSV staid with the previous, topological one. Although, the solution applied for Bitcoin Cash allows for a higher scalability within the same size block, in was not carried out in Bitcoin SV, because of a possible risk of security level decrease.
Another important difference between BCH and BSV, is that the first cryptocurrency has an operational code called OP_CHECKDATASIG. It’s designed to confirm information from outside the blockchain. It’s related to increasing functionality in smart contracts. Bitcoin SV claims, they do not require such a solution.
Differences between BSV, BCH and BTC (as of 21.01.2020)
Bitcoin SV (BSV)
Bitcoin Cash (BCH)
15 November 2018 (Bitcoin Cash hard fork)
1 August 2017 (Bitcoin hard fork)
3 January 2009 (first BTC block excavation)
Rank in the market capitalization rating
5 760 491 626 USD
6 260 475 819 USD
157 459 368 338 USD
Coins in circulation
18 222 577 BSV
18 234 888 BCH
18 173 337 BTC
Price of single coin
8 664,31 USD
Prize for excavating a block
Size of blockchain
Average confirmation time
8 m. 56 s.
8 m. 25 s.
8 m. 19 s.
The common feature of Bitcoin SV and Bitcoin Cash is that they are both against SegWit implementation. They both also do not use the solutions provided by the second layer protocol, like Lightning Network.
Bitcoin SV on a chart
Current Bitcoin SV price is around 315,60 USD according to the CoinMarketCap (as of 21.01.2020). It’s ATH, meaning highest price, was reached on 14 January 2020. The price was then 441,20 USD. The reason behind this increase was a rumor saying Craig Wright received keys to 8 billion dollars in Bitcoin, excavated by Satoshi Nakamoto himself. As it turned out, the keys were never delivered to Craig. However, he claims he’s still waiting for these. But of course, once the truth came out, the price of BSV dropped momentarily.
Bitcoin SV mining
Bitcoin SV net was based on the Proof of Work algorithm. That means, the BSV coins are excavated by cryptocurrency miners. The cryptocurrency has the same protocol as Bitcoin and Bitcoin Cash have, so it can be mined for with the use of the same equipment as in case of these other coins. Currently, the only profitable way for excavating BSV, BCH and BTC is using ASIC.
It’s worth mentioning, that Bitcoin SV, same as his close relatives (Bitcoin and Bitcoin Cash) is subjected to, so called, halving – a cut of prize for each mined block. In case of BSV it happens every 210 thousand transaction blocks are excavated. Current prize for excavating a Bitcoin SV block is 12,5 BSV.
Which stock exchange list BSV?
Bitcoin SV is listed on over 70 cryptocurrency stock exchange. Among them is TOKENEO. BSV is also available on world known stock exchange like Binance, Huobi, OKEx and many more. Users who wish to purchase this cryptocurrency may choose from a large selection.
Cryptocurrency stock exchange listing BSV, examples
Crypto-fiat stock exchange
Crypto-crypto stock exchange
Cryptocurrency wallet. Which one to choose for Bitcoin SV?
Because Bitcoin SV is less popular than Bitcoin, users have smaller choice when it comes to cryptocurrency wallets. But it does not mean there is none. Below you will find examples of popular choices of both cold and hot wallets for BSV. Here they are!
Cryptocurrency wallets for BSV, examples
Cold cryptocurrency wallets
Hot cryptocurrency wallets
By: Karolina Kropopek
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Calculator Bitcoin SV
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