Bitcoin SV becomes the most profitable cryptocurrency of this bear market, becomes 7th largest cryptocurrency
Bitcoin SV would have had lots of negative news surrounding it, but it does not change the fact that the new cryptocurrency has been the most profitable investment in this bear market.
Bitcoin SV has increased by 34% in the last 24 hours. And the new cryptocurrency has given its investors close to 42% return since it’s inception on Novemeber 16th. On November 16th, Bitcoin SV was trading at $85 and it is currently trading at $121.
Since the fork has become stable, exchanges have started Bitcoin SV trading. Coinmarketcap recently started showing the data of Bitcoin SV. The currency has a market cap of $2.11 billion, making it the 7th largest cryptocurrency in the market.
Bitcoin SV (short for Satoshi’s Vision) is a hard fork of Bitcoin Cash with an increased block size of 128 mb. According to the developers, the new block size would help in the scaling the problem of the blockchain while staying true to Satoshi Nakomoto’s vision of a decentralized financial system, a claim which every faction of Bitcoin (Bitcoin Cash and Bitcoin SV) says.
Three types of Bitcoins?
Since the dust related to the fork has settled, we can closely look at the three “Bitcoins” that are in the market available.
Bitcoin [BTC] – The original Bitcoin created by Satoshi Nakamoto. The code is maintained by Blockstream. The code mainteners believe the best way to scale the Bitcoin blockchain is off-chain.
Bitcoin Cash [BCH] – A fork of the original Bitcoin. The currency is controlled by Bitmain and is marketed by Roger Ver. The fork was split in opposition to Blockstream’s proposal of SegWit, which makes most of the transactions happen off-chain, which in turn decreases miner’s incentive. The team maintains by doubling the block size, the Bitcoin blockchain transactions can be doubled.
Bitcoin SV [BSV] – A fork of Bitcoin Cash. The SV team controlled by Craig Wright, split from Bitcoin Cash, due to the fight on how to scale the Bitcoin Cash. SV team says the best way to scale Bitcoin Cash was by further increasing the block size. The new blockchain has block sizes of 128 MB.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Leave a Reply