Bitcoin SV/BSV#110 21

What is Bitcoin SV (BSV)?

Bitcoin SV (BSV) was created as a result of a Bitcoin Cash (BCH) hard fork that took place in 2018, which previously spilled from Bitcoin (BTC) cryptocurrency during blocksize discussion. Lawyers of BSV argue that it is closely related to the foundation principles by Satoshi Nakamoto in original Bitcoin white paper and writings. 

BSV entirely focuses on achieving scalability and stability, positioning itself as a true peer-to-peer electronic cash system. Additionally provides a robust distributed data network supporting advanced business-level blockchain technology.

To achieve its goal, Bitcoin SV (BSV) eliminated artificial limits on block size and restored script commands that were previously disabled or restricted by Bitcoin (BTC) developers. This helped the network to manage 10,000 transactions/seconds keeping the transaction fees low, making it suitable for micropayments. It also supports smart contracts, tokens, and data applications.

A blockchain technology firm, nChain, developed BSV node software to restore the original Bitcoin protocol and presently managing the BSV infrastructure Team for node software and essential tools for the BSV network.

Craig Wright, the former chief scientist at nChain, so claimed to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin, supported BSV since its split from Bitcoin Cash (BCH) in 2018 which happened due to disagreements with proposed changes to protocol by BCH developers.

Additionally, Calvin Ayre, an Entrepreneur supports BSV and investment opportunities in business and blockchain projects.

The native cryptocurrency or the ticker symbol of Bitcoin SV “BSV” stands for Bitcoin Satoshi Vision used for facilitating higher transaction volume with low fees. 

How does Bitcoin SV (BSV) work?

The proof-of-work Consensus mechanism is used in the BSV network as outlined in the Bitcoin white paper to ensure security. 

In this system, Miners need to solve the mathematical puzzle in order to create a new block of transactions to the blockchain. The first miner to solve the puzzle gets rewarded a newly minted coins and transaction fees, and the block gets added to the blockchain.

As new blocks are added on top of the created block, the transactions contain gain validation from other nodes in the network, making it increasingly difficult or nearly impossible to change any of the confirmed transactions.

Bitcoin Cash (BSV) Coin History:

• The Maximum Supply is 21 million BSV, and 19.77 million Bitcoin Sv are in circulation as of 2024.

• Bitcoin SV was launched on 15 November 2018, after a Bitcoin Cash (BCH) hard fork with an initial launch price of $83.

• Bitcoin SV (BSV) reached an all-time high of $ 491.64 on Apr 16, 2021, and an all-time low of $ 21.43 on Jan 10, 2023.

Bitcoin Cash (BSV) Price Prediction:

• According to Coinpedia, Bitcoin SV price prediction for 2025 is expected to vary between a potential low of $55 and a high of $117, with an average value of $86.

• In 2026, the price of a Bitcoin SV coin ranges between $68 and $135; the average cost is projected to be $95.

• In 2027, the Bitcoin Cash or Bitcoin SV could span from $75 to $120, with an average of $97.5.

• By 2028, the Bitcoin Cash price would fall between $84 and $142, the average cost is expected to be about $113.

• The average BSV price is estimated at around $122, with a potential low of $92 and a high of $152 by 2029.

• Bitcoin Cash price prediction in 2030 indicates an average price of $130.5. The asset may vary between a potential low of $98 and a high of $163. 

Where can I buy Bitcoin Cash (BSV)

• Centralized Exchanges: The best exchanges support Bitcoin Cash or Bitcoin SV for swapping or trading, some of the best exchanges are OKX, Upbit, HTX, Bitget, KuCoin, MEXC, BingX, and BitMart.
• Decentralized Exchanges (Dex): Bitcoin SV is swapped or traded on Dex like Vitex.

Wallets for Bitcoin Cash (BSV):

Bitcoin SV can be stored in top wallets like Electrum SV, Exodus, Coinomi, Centbee, Edge Wallet, Guarda Wallet, Trezor, Trust Wallet, Math Wallet, Exodus, Cobo, and SafePal.