Bitcoin SV (BSV) Swiftly Becomes Fifth-Ranked Cryptocurrency Surpassing Bitcoin Cash, EOS and Litecoin
Craig Wright may have the last laugh given that Bitcoin SV (BSV) has soared in market capitalization. The controversial cryptocurrency has overtaken not only Tether, EOS and Litecoin but also it’s primary rival Bitcoin Cash ABC now touted as Bitcoin Cash (BCH).
At the time of writing BSV is $109.68 with a market capitalisation of $1,916,900,135 ranking 5th. While it’s rival BCH is $102.58 with a market capitalisation of $1,794,831,347 ranking 7th.
The overall Cryptocurrency markets are falling tremendously, but BSV has hung on and is being traded with a significant amount of trading volume. Bitcoin ABC was the overall winner and favorite during the hard fork, but that did not stop Bitcoin SV. It has proved that the long-term vision and the fundamentals are as important as negative comments.
Bitcoin SV justifies and highlights the cash-like nature of Bitcoin. It is led by Calvin Ayre and Craig Wright, with a design to facilitate fast, cheap, peer-to-peer money transfers. According to the Bitcoin SV team, it is supporting Satoshi Nakamoto’s original vision for a peer to peer electronic form of money.
Bitcoin SV is enabling unlimited sized blocks. Craig Wright tweeted a hinted about ‘The biggest blocks win’ and ‘Gigabytes in 2019.’
If Bitcoin does not scale onchain, it loses its security premise, one based on economics.
Bitcoin is an economic system. Only one survives.
The biggest blocks win.
Gigabytes in 2019
— Dr Craig S Wright (@ProfFaustus) December 7, 2018
Bitcoin SV is the only Cryptocurrency that seems to be in green while the who market is in red. The hard fork of Bitcoin Cash has increased by over 20% in the past 24 hours, it increased by 7% in a matter of minutes which gives rise to suspicion of market manipulation.
Majority of the volume comes from the Korean exchange Upbit followed by Binance and Bithumb.
Things are not looking good for Bitcoin Cash ABC. A Florida based United American Corp. has filed a lawsuit against Bitmain, Bitcoin.com, Roger Ver and Kraken Exchange. The lawsuit alleges that the defendants planned a scheme to take control of the Bitcoin Cash (BCH) network. If this proves to be true, Bitcoin SV will end up the real winner of the Bitcoin hash war that took place on November 15 2018.
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