Author: changehero
June 24, 2022

While all crypto markets have been drowning in red, Bitcoin SV trended and unexpectedly surged. We recap the BSV news that caused it and review expert opinions to give you the idea of what awaits Bitcoin SV up to the end of the decade.

bitcoin sv price prediction

While all crypto markets have been drowning in red, Bitcoin SV trended and unexpectedly surged. We recap the BSV news that caused it and review expert opinions to give you the idea of what awaits Bitcoin SV up to the end of the decade.

Bitcoin SV Forecasts for 2022–2030

YearPrice Forecast, USD
2022$33.702–310.553
2023$125–155
2024$49.306–87.181
2025$14–241.20
2030$137.75–144.64
  • Despite Bitcoin SV shedding most of its market cap in recent years, the majority of forecasts is bullish;
  • The highest possible target is given for as soon as the current year but the lowest is projected into 2025.

What is Bitcoin SV Blockchain?

bitcoin sv logo
Bitcoin SV logo. Source: medium.com

Bitcoin SV is a fork of the original Bitcoin that was made to make the protocol more like the “peer-to-peer digital cash” that was described in the Bitcoin white paper. The SV stands for “Satoshi Vision”. Bitcoin Satoshi Vision did not fork off Bitcoin’s blockchain directly but after a hard fork of the Bitcoin Cash blockchain. The BCH community split further in 2018 after the block size debates: BSV was supported by those who insisted a block limit should be removed completely.

Among the prominent backers of “the Satoshi Vision” are entrepreneur Calvin Ayre and researcher Craig Wright. The latter is notorious for his claims he is actually Satoshi Nakamoto, and the legal battle associated with that.

Of course, there is more to the Bitcoin SV protocol and utility. For more information about it, feel free to check out our Beginner’s Guide.

Bitcoin SV Price History

Bitcoin SV Price in 2018–2020

BSV price chart 2018–2020
Source: CoinMarketCap

As a result of a community schism, another fork happened. Bitcoin SV forked off the Bitcoin Cash blockchain in November 2018, at the time of a scheduled update. Bitcoin SV blockchain received significant support from exchanges and a part of the community, hence the surge above $200 at the start. However, a sell-off of the airdropped BSV token happened as quickly, bringing it closer to $50. The next moments when BSV shined occurred later in 2019 and especially 2020. Around the time of the Genesis hard fork, its price managed to reach a long-standing record around $422.

Bitcoin SV Price in 2021–2022

BSV price chart 2021–2022
Source: CoinMarketCap

Despite not seeing much action beyond early 2020, in 2021 Bitcoin SV caught wind of the bull market and ran to the current all-time high. The highest BSV price ever recorded at the moment is $491.64 on April 16, 2021.

At the time of writing, BSV is worth $64.23 and the coin ranks 40th by market cap according to CoinMarketCap.

What Influences the Price of Bitcoin SV?

Protocol Development

It would come as no surprise that improving the protocol and platform would positively affect the price of an asset. The tricky part is, the Bitcoin Association believes that the Bitcoin protocol is set in stone in the original white paper.

Does it mean they make no improvements, then? Not necessarily: at least the Genesis hard fork was necessary to remove the block cap. Instead of amending the protocol, the teams work on software. Among the latest introduced features are LiteClient and extended support for a smart contract language sCrypt. The LiteClient is an especially welcome novelty since the Bitcoin SV network now includes blocks as huge as 3.8 GB which some nodes struggle with.

Listings

The reason BSV rallied while the market is in the red is actually really simple: a listing on Huobi Japan. However, there is a bit more to it than a new market. Japan is one of the few countries that has a comprehensive regulatory framework for digital assets. Being approved on a regulated exchange in this jurisdiction gives legitimacy to Bitcoin SV. What’s more, the crypto market is simply very popular with Japanese investors.

Is Craig Wright Right?

Surprisingly, the news associated with Wright still manages to hold a sway over the BSV price. The legal team of the researcher is engaged in multiple lawsuits over the copyright on Bitcoin and a couple of defamation lawsuits against influencers. Most recently, they submitted claims that large cryptocurrency exchanges, such as Coinbase and Kraken, “misrepresent Bitcoin” by “passing off” BTC as the “real Bitcoin” (which they believe BSV is).

The community of BSV holders, whether they sincerely agree with Craig Wright’s claims or not, still watches closely for the news that can impact the integrity of the project.

Bitcoin SV Price Prediction 2022

With all these in mind, let’s see what industry experts think about the future forecast for Bitcoin SV.

Using technical analysis, The News Crypto plotted a path that BSV can follow: it is trading near the support level, below which the lowest is $33.702. In contrast, if it prolongs the positive price action, the nearest resistances it will encounter lie at $75.934 and $107.783. The outlet claims that it can even reach $310.553 this year.  Another media, Coinquora, also using Fibonacci extensions, suggests that by the end of 2022, Bitcoin SV has the potential to reach $193.68. In the nearest term, it is supposed to run up to $74.72.

YouTuber Cilinix Crypto took a moment to chart a couple of scenarios for Bitcoin SV after a bounce. In case it breaks out of consolidation, before reaching $65–70 it would need to overtake resistances at $56.5 and $58. Should this fail, the next targets for BSV are $53 and $45.

Bitcoin SV Price Predictions for 2023 and 2024 

News and analysis outlet CryptoNewsZ is bullish on Bitcoin SV, and in 2023 they see it trading in the range between $125 and $155.

In comparison with the current prices, Bitcoin SV will start 2024 on a discount, somewhere between $49.306 and $72.508. By December 2024 though, it will move to a higher range of $59.283–87.181 — TradingBeasts.

Bitcoin SV Price Prediction 2025

What does an even more distant future hold in store? The opinions are even more divisive: LongForecast goes turbo bear on BSV and claims it will lose 75% of its value and arrive at $14.

On the contrary, TechNewsLeader is moderately bullish and believes Bitcoin SV will reach $199 on average. PricePrediction.net goes along and charts a broad range between $134.51 and $241.20 for BSV in 2025.

Bitcoin SV Price Prediction 2030

Going forward, no one knows what will happen to the crypto market as a whole and to the BSV blockchain particularly. Coin Price Forecast puts forward a guesstimate of $137.75–144.64 but a forecast so far in the future should only be viewed as an educated guess.

ChangeHero Prediction for Bitcoin SV

The team and the backers were bold enough to lift all restrictions and make a crazy attempt to restore the original Bitcoin protocol. However, aggressively pushing a contrarian ethos is most likely to backfire for the entire community, whether they indulge Craig Wright’s opinions or not. Due to that, the future of Bitcoin SV is uncertain.

Conclusion

The blockchain that claims to be the original Bitcoin is doing fine, but the narrative ties to Bitcoin act as a double-edged sword for its reputation. Regardless, the crypto community has high expectations for BSV.

Check out and subscribe to our blog for more tips, guides and BSV news. Give ChangeHero a follow on Twitter, Facebook, Reddit and Telegram for live updates and even more content.

FAQ

Does BSV have a future?

Bitcoin SV supporters and developers are making sure the blockchain ecosystem develops and flourishes. 

What is happening with Bitcoin SV?

Bitcoin SV has been trending on the news about listing on Huobi Japan. This new market gave access to a regulated and engaged market and boosted the confidence of  investors.

Is BSV a good investment?

BSV, like other cryptocurrencies, is a high-risk investment. Consider doing your own additional research: this article does not constitute financial or investment advice.

What is BSV worth?

At the time of writing, Bitcoin SV is worth $64.23.

Author: changehero
August 7, 2020

Bitcoin SV, as a top-10 currency and one of the most prominent Bitcoin forks, certainly has a lot of eyes watching it. Not always this attention is in good faith, but this doesn’t subtract from the fact that the coin has a large and faithful following. So why is BSV worthy of all the fame? […]

What is Bitcoin SV? A Beginner's Guide by ChangeHero

Bitcoin SV, as a top-10 currency and one of the most prominent Bitcoin forks, certainly has a lot of eyes watching it. Not always this attention is in good faith, but this doesn’t subtract from the fact that the coin has a large and faithful following. So why is BSV worthy of all the fame? In this guide, ChangeHero will explain this, as well as look at the Bitcoin SV news and give a hint on how to buy BSV, exchange BSV and use it.

What is Bitcoin SV?

Bitcoin SV (BSV) is a cryptocurrency which is, technically, a Bitcoin Cash fork, which split from Bitcoin. The reason for this split, though, was the need to go back to the principles described in the original Bitcoin whitepaper by Satoshi Nakamoto. Therefore, the “SV” in the name of the coin stands for “Satoshi Vision”.

Bitcoin SV logo
Source: CoinGeek

So what is the vision the BSV community is trying to achieve? First and foremost, Bitcoin was envisioned as a “peer-to-peer digital cash”, as the whitepaper title suggests. The transactions with Bitcoin had to be as convenient as the daily exchanging of cash, so the currency has to be secure and scalable. This has led to the ongoing dispute over solutions for the problem of scalability of the original Bitcoin. The BSV community consists mainly of those who believe the hard cap on the blocks in the original chain is the main hurdle to the solution of this problem.

The history of BitcoinSV

The sour disputes in the community over the block size cap began as early as in 2014, when there were enough users of Bitcoin to have network congestions on a regular basis. Besides, it became apparent that the payment network where the fees can get higher as a result and a transaction needs an hour to be settled, hardly could be used as a daily means of payment. That’s why in 2016, Bitcoin Cash split into a separate chain.

But this was not the end of the dispute. A part of the Bitcoin Cash community deemed the 8 MB block increase insufficient. Prominent members of this part of the community, like Calvin Ayre and Craig Wright started promoting an alternative to the new business model: they decided that mining would be more efficient as a business, and application developers would act as merchants who provide goods and services.

In November 2018, the conflict reached its peak and the chain split again. BCHABC (ABC standing for Adjustable Block Cap) won the “hashrate war” which was happening for a while after the split, and got to keep the original ticker. BSV decided to settle on incorporating “Satoshi Vision” in the name of the currency.

Ayre and Wright are still the most prominent members of the community. Ayre’s businesses provide tremendous financial support to the development, the CoinGeek media outlet, main source on Bitcoin SV news, and conferences.There is also the Bitcoin Foundation which unites the businesses developing in the BSV ecosystem. Other known members of the community include Daniel Connolly, lead developer and Steve Shadders, Technical director. 

What is special about BSV?

The Metanet protocol

Illustration of interaction of the Metanet layer and the blockchain.
Source: BitcoinSV

Bitcoin SV uses the original concept of Bitcoin blockchain as a means of data transfer, not only the transfer of value. On top of the original protocol, an overlapping directed acyclic graph (DAG, in computer theory — a kind of graph that can proceed in one direction only) sidechain runs, which actually makes the BSV network usable for on-chain development. The Metanet is a layer-two solution, and its goal is to serve as a foundation for the value-based Internet.

Payment Channels

Payment Channels are side-chain “tunnels” which can be arbitrarily opened and closed between participating parties without the need of an intermediary. Their point is to conduct several transactions faster and record the result on-chain upon closing. If it sounds familiar, it is because on the surface level Lightning Network operates in the same way.

The Fee Market

The ultimate goal of Bitcoin SV is to have no hard cap on a block size, which was implemented in the Genesis update in 2020. Without a limit on the number of transactions that can get included in the next block, there is no uncontrollable network fee increase. This is great for the users but what about the miners? The developers proposed to make transaction fees clearer to the end users and let the miners decide how much they are willing to charge, which is then communicated to the users so they can choose which service provider charges the fee they can afford.

How is it different from Bitcoin and Bitcoin Cash?

Block size and cap

As it was mentioned a few times before that, the main and core difference between BSV and the chains it forked off is in the lack of a hard cap on the block size (the original Bitcoin is still on 1 MB and Bitcoin Cash now sports a 32 MB limit).

Side-chain solutions

Mostly for the same reason, the preceding blockchains tend to stick to transfer of value, while BSV also pursues the goal of creating an internet of value by making the network a tool to build on.

Transaction Fees

Median transaction fee in USD, logarithmic scale.
Source: bitinfocharts

Thanks to the lack of hard cap limit on the block size and high throughput, there is no need to increase the network fee in BSV. As a result, the network fees are consistently lower than in BTC or even BCH.

Transactions and throughput

Daily transctions by network.
Source: coin.dance

Speaking about throughput, BSV network hosts about twice as many transactions as the original Bitcoin, and by a wide margin many more than in BCH. The reason for this is the large amount of those are data transfers made by the apps in the BSV ecosystem. This gets clear when we check the average or median transaction value:

Median transaction value of Bitcoin and Bitcoin SV
Source: bitinfocharts

A median transaction in Bitcoin moves hundreds of dollars worth of BTC, and a median transaction in BSV network is barely worth a few cents.

How much a BSV is worth?

BSV price in 2018-2020
Source: CoinMarketCap

Bitcoin SV price has had quite a few spikes throughout its history. First, at the very beginning, when the network launched. As a rule, the holders of a currency from which a new network forks, get the equivalent amount in the new currency as well. Some of the BCH holders sold off at the start, hence a quick correction. Second time, in May of 2019, when Craig Wright copyrighted the Bitcoin whitepaper. Third time, in January 2020, the price surged supposedly with the news that Craig Wright reportedly received the keys of Tulip Trust, the Bitcoin fund where $9.6 billion fortune of the original creator is safeguarded. On January, 14 the price reached the latest ATH, $441.20. However, the market crash two months later would correct the sharp rise. Lately, as all the market is following Bitcoin, the Bitcoin SV price was also moving up.

The total existing supply of BSV will not exceed 21,000,000 BSV. Currently, there are 18,480,915 BSV in circulation and with the $4,355,158,689 market cap (rank 6), the price of an individual coin is $235.66 (according to CoinMarketCap).

Is BSV controversial?

No point in sugarcoating the fact — Bitcoin SV is known outside the community as a project ridden with controversies from the very start.

The most known point of contempt is connected with the claims of Craig Wright, Chief scientist of nChain, that he is the creator of original Bitcoin, Satoshi Nakamoto. Wright has been providing proof that he was involved in the earliest days of Bitcoin, but none of it was not irrefutable. The infamy of these claims even got BSV delisted from the largest exchanges like Binance and Kraken in its early days. Earlier this year, BSV news were all about the court battle with a brother of his deceased business partner, David Kleiman, over the ownership of the Tulip Trust bitcoin.

BSV exchange is still problematic when it comes to the largest exchanges, since they delisted the currency or have never had it listed thanks to its main proponent’s reputation. A newcomer to crypto, to exchange BSV, would need to do more research just to find a reliable dedicated BSV exchange. This is why ChangeHero is the go-to place to get or exchange BSV — we make the process easy and secure.

The tech behind BSV was also criticized because the high or nonexistent block size limit actually makes it less accessible to the hobbyist and non-industrial miners and, therefore, creates an environment where the number of nodes is limited to a few businesses. One can argue that this is actually the idea, but fewer miners on the network also means lower network security.

What is the future of Bitcoin SV?

With the Genesis upgrade out of the way, the plans of the team are more maintenance oriented. There is no publically available official roadmap that is up-to-date as of now.

The focus in ecosystem development shifted to the Metanet expansion, where developers can utilize the BSV network for app building needs. As of July, there are more than 400 known projects and resources in the BSV ecosystem, covering the ground of eSports, streaming, gaming, social networking and, of course, financial services. If we are to expect any Bitcoin SV news, they would probably be about the ecosystem expansion.

BSV news and opinions on Twitter

6th CoinGeek Conference to be held on 30th Sep - 2nd Oct 2020
Source: Twitter

In the most recent BSV news, CoinGeek announced that the next conference will be headlined by Thomas Lee of Fundstrat Global Advisors (and a huge Bitcoin believer) and economist George Gilder.

Total number of BSV transactions in 2020
Source: Twitter

The official Bitcoin SV account frequently posts tidbits of data about BSV’s achievements. For example, BSV consistently has more on-chain activity than its main competitors thanks to the apps in the ecosystem. By July, the number of transactions in total is already twice as Bitcoin’s.

Crytpo influencer @CryptoMichNl about the top-10 cryptocurrencies.
Source: Twitter

It’s likely that you’ve heard of Bitcoin maximalists. But have you heard about BSV maxis? (Although true BSV maxis would use Twetch)

How to buy BSV? How to exchange BSV?

If you came here looking for the answer to how to buy BSV, you are in luck. On ChangeHero you can buy Bitcoin SV with more than 25 fiat currencies or exchange BSV against dozens of cryptocurrencies supported by ChangeHero. For crypto-to-crypto BSV exchange, the transactions are extra fast, because we process the incoming transactions with zero confirmations. 

Either way, it will not take you a lot of time and effort, and should anything come up — our support is always there to help.

How to store Bitcoin SV?

BitcoinSV has a long list of BSV-exclusive wallets, which have excellent operability within the chain, like CentBee, CashPay or RelayX. The latter positions itself as a superwallet, given how much it can do: it can operate with other apps on the BSV chain like Dimely or Baemail, and the users can top it up with other crypto currencies and send any coin from their BSV balance.

Some multi-currency crypto wallets like Atomic, Guarda, Edge and Exodus also support Bitcoin SV. In Exodus wallet you can even exchange BSV to and from with the help of ChangeHero.

How to use Bitcoin SV?

Like it was already mentioned, there are hundreds of applications where BSV microtransactions are enabled. The most used is a social network (similar to Twitter) Twetch. There are also games (Kronoverse, Peergame) and streaming (My movies, Streamanity). MoneyButton is a convenient tool for tipping with Bitcoin SV which can be integrated anywhere.

As for the digital cash vision and payment method, BitcoinSV still has the room to grow. Several payment gateways like CoinGate and Coinify enable purchases with BSV. On the map you can find some of the hundreds of merchants that use it.

Summary

Even though Bitcoin SV has a fair share of sceptics, it is embraced by a large community that comes up with fun new applications for the coin almost on a weekly basis. Be it from the outside or the inside, the unfolding history of Bitcoin SV is and will be interesting to observe.

Don’t forget that the best place to buy or exchange BSV quickly and safely is on ChangeHero!

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Author: changehero
April 15, 2020

Following BCH earlier the same week, BSV has halved the miner rewards on Friday, April 10th. For Bitcoin SV, this was the first halving as well. Halving in this network works exactly the same as in Bitcoin and Bitcoin Cash: it occurs every 210,000 blocks and the block mined immediately after will yield half the […]

BSV post halving analysis by ChangeHero

Following BCH earlier the same week, BSV has halved the miner rewards on Friday, April 10th. For Bitcoin SV, this was the first halving as well. Halving in this network works exactly the same as in Bitcoin and Bitcoin Cash: it occurs every 210,000 blocks and the block mined immediately after will yield half the reward. In Bitcoin SV’s case, the rewards were cut down from 12.5BSV to 6.25BSV.
To deal with potential miner escape, BSV directs transaction fees to the miners that solve the blocks, and with the unlimited block size that was introduced with Genesis update, the busier the network, the more transaction fees miners get. This way they’re incentivized to contribute to the network.
The pre-halving situation is described in detail in an earlier article by our team, so let’s have a look now at how the network is doing after the event.

Short-term price response

BSV Post-Halving Price
Data from CoinGecko, pin is the approximate time when halving took place.

The movement is not looking great on the first glance, but it’s still too early to say this trend will continue. The Bitcoin halving is coming in approximately a month and the most noticeable change caused by the coin’s halving historically has shown itself in the long term, three to six months after the reward slashing.
At the time of writing the article, Bitcoin SV ranks sixth with $3,487,919,898 USD market capitalization, evaluated at $189.78 USD (0,02766810 BTC) (according to CoinMarketCap).

How did network respond to Halving

According to the information on bitinfocharts, on the day of halving three important metrics have tanked: hashrate, block propagation times and mining profitability. Right now, however, these numbers seem to be returning to the previous average rates.
BSV Post-Having Hashrate
The hash rate did drop, but according to coin.dance at the moment of writing, it is more profitable by 3.1% to mine BSV rather than BTC. The mining profitability metric accounts for not only the price but also the block difficulty (which is lower than BTC’s) and subsidies for block creation (i.e. miner fees).
BSV Post-Halving drop in mining profitability
The drop in profitability is most likely an immediate response of the metric to reward slashing.
BSV Post-Halving block time
The network was moving almost two and a half times slower than it is supposed to (26 minutes for a block on average as opposed to the standard rate of 10 minutes). The median time to find a block right after the halving and until the end of the day was about 15 minutes. Not a serious slowdown, but a difference between the average and the median is explained by a few extremely slow blocks (for instance, block #630,016 took 116 minutes to be mined, #630,026 — 82 minutes, #630,051 — 79 minutes (all data taken from blockchair.com)). The graph shows that it is back to its usual propagation tempo, though.

Community response

Most discussion has been happening within the BSV community on Twitter. People noted how the network didn’t come to a halt like BCH and how the profitability of mining has recovered, despite the hash rate drop. Outside of it, BSV halving mostly got lumped together with last week’s BCH halving and hardly discussed.

Takeaway from the BSV Halving

All in all, the events of BSV halving mirror that of the BCH, which happened a few days earlier. Proponents of both chains agree that the full picture will become apparent after the BTC halving, for now almost all hash power is concentrated in that network (97.6%), which was expected. After that, not only the major Bitcoin forks but the market as a whole will probably see a long-lasting change, so it is almost impossible to say for sure how the events will unfold even in the following months.
In any case, you can get Bitcoin SV with ChangeHero extra fast thanks to zero confirmations. Check it out while it is still calm before the storm!
ChangeHero will keep you posted on other major events in crypto, the only thing you need to do is subscribe to ChangeHero Blog and follow us on TwitterFacebookReddit, Telegram. Feel free to give us any feedback in any of these channels!

Author: changehero
April 7, 2020

BSV sent shock-waves across the crypto sphere with a striking price spike in the early January and recovered considerably well after the recent crypto catastrophe. With an unceasing buzz in the community, the team is gearing up for the halving this week. It is going to be a crucial upgrade as it is going to […]

BSV Halving by ChangeHero

BSV sent shock-waves across the crypto sphere with a striking price spike in the early January and recovered considerably well after the recent crypto catastrophe. With an unceasing buzz in the community, the team is gearing up for the halving this week. It is going to be a crucial upgrade as it is going to be the first for BSV and may have an impact on the whole network.

In this short post, ChangeHero will give you a brief outlook of everything you need to know about BSV Halving.

A Maiden

A quick background story on Halving for the starters — In return for confirming the transactions miners were given a block reward, freshly mined cryptocurrency in this case. This ensures that miners are incentivized for contributing to the network. Unlike the dollar bills, cryptocurrencies are deflationary and the supply is limited, talking only the decentralized ones.😉 To avoid the improper distribution of the coins, Satoshi Nakamoto has introduced a unique phenomenon called Halving. It reduces the block reward for every 210,000 blocks and ensures an even distribution of the coins to maintain the value of the cryptocurrency. Looking for more info on Halving? Quickly go through this article.

Back to the topic, BSV is about to undergo it’s first halving event this week and the news flew under the radar due to the current market scenario. BSV halving will take place at the block #630,000 and is expected to happen on the 10th of April. The current block reward of 12.5 BSV will be reduced to 6.25 BSV after the maiden halving event.

Everything Around The Miners

2020 will get into the history books of the crypto as three Bitcoin-based chains will be going through halving within three months. Though the dates may vary a bit, it is expected that BSV and BCH halving will take place before BTC. On a different note, miners invest a lot to gain access to computing power and to find the block. With the block reward decreasing, miners would initially look for alternatives to be profitable. As all the three chains run on the SHA-256 hashing algorithm, there is a considerable chance that miners could shift to the BTC chain right after the BSV halving to cash-in the extra rewards for a short period. Either way, it is hard to predict and it would be good to wait for the things to unfold.

Additionally, there is some criticism about miners contributing to BSV mining and not being able to make ends meet. Adding fuel to this, the initial impression of halving does look unfavourable to the miners as the reward will be slashed in half. There are only two ways that one might find mining to be profitable — one being an increase in the value of the crypto and the other is the transaction fees from the block. Betting on the future price of the coin might not be the optimal choice as there will be a plethora of factors affecting the price of BSV. BSV team aims to counter this by compensating the miners with transaction fees to transform mining into a profitable activity. This was already made possible by increasing the block size and lifting off the limits completely as a part of the Genesis Hard Fork in early February.

Quick reminder: Go through this article quickly to learn more about the BSV Genesis Hard Fork.

The team is playing around with this feature on the STN and reported some impressive figures recently. On January 25, Block #14893 was mined at over 1GB and consisted of a whopping 5,449,866 transactions. As a cherry on the top, the block has generated 10.73654716 in BSV as fees accounting to around $3000. This would draw the attention of the miners and make them stay on board.

As of writing, BSV is being traded at $189.13 and a circulating supply of 18,370,477 BSV with block count #629,633. As it is the first-ever halving event for the chain and there is no historical data to draw patterns from, it is near to impossible to forecast the price of BSV after the halving premier.

Flying under the radar

Though there isn’t much of chatter on BSV halving, the event does appear to instigate major changes in the network. In the short-run, we could witness miners who look for profits migrating to other chains. Conversely, in the long-run, approaching the halving by compensating with more transactions in a block has all the possibilities of turning out to be a success.

In a nutshell, outcomes of the halving are very much interconnected with the bigger block sizes which allow more transactions per block. This would, in turn, result in more fees to the miners despite the low network fee per transaction, ultimately a win for both the users and miners. BSV team has chosen a sensible way to combat the rewards reduction with the vision of a scalable chain to build a better world for both people and businesses.

By the way, did you know that on ChangeHero you can get BSV with zero confirmations? Give it a shot.

We publish interesting content on our blog. Follow us on TwitterFacebookReddit, Telegram and be the first to get notified.


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Author: changehero
January 22, 2020

With aims to bring back the Satoshi’s Vision, BSV has always been the talk of the crypto town. Despite the looming controversies, it continued to grow since its inception and swept the market in the last week with over 300% gains. With the unceasing buzz in the community, Bitcoin SV started the decade with a bang and […]

Bitcoin SV Price Prediction 2020: Massive bulls ahead?

With aims to bring back the Satoshi’s Vision, BSV has always been the talk of the crypto town. Despite the looming controversies, it continued to grow since its inception and swept the market in the last week with over 300% gains. With the unceasing buzz in the community, Bitcoin SV started the decade with a bang and going great.

In this post, ChangeHero will give you a brief outlook of BSV’s price action and how it would be performing in 2020.

Forked

The dawn of bitcoin gave rise to a billion-dollar industry along with hundreds of cryptocurrencies. And Bitcoin Satoshi’s Vision is also among them but has a significance of its own. BSV is relatively young crypto which came into existence as a result of the Bitcoin Cash hard fork. Though the chain officially split from the Bitcoin Cash on November 15, 2018, the idea of BSV has been existing way before the parting. Craig Wright lead BSV is keen to bring back the Satoshi’s Vision and claims to be the original Bitcoin.

The initial idea of increasing the block size from 32 MB to 128MB has resulted in the community division. A few of the core notions include a more stable protocol, safe transactions, zero confirmations and large scale transactions to boost the adoption of this cryptocurrency both by the consumers and businesses.

Despite the delayed entry, BSV has taken the crypto enthusiasts by surprise with its splendid performance in the market.

Dawn of the SV

BSV price chart 2018
Source: CoinMarketCap

Even before the forking event, BSV’s value shot up to $223 on November 14, 2018, thanks to the buzz about the Satoshi Nakamoto’s identity and its promotional strategy stating that it is the original Bitcoin. Though BSV touched the rock bottom of $46.61 in the following days, it gained considerably well and traded just under a hundred dollars till the end of the year 2018.

Ending the decade

BSV price chart 2019
Source: CoinMarketCap

BSV started trading in the year 2019 at a price of $91.75. Despite the head-start, BSV was not able to keep up the pace and the price gradually dropped in the following weeks mostly due to the technical issues in the network. Storm stuck BSV community when Binance has announced the delisting of BSV from exchange citing Wright’s claims of Satoshi Nakamoto’s identity as false. To worsen things, Shapeshift also delisted the crypto following Binance. This led to a sharp drop in the price of BSV to $52 in April.

Albeit the unfavourable environment from various exchanges and crypto community giving a hard time, BSV bounced back and grew in the following months. Craig Wright’s lawsuit with David Kleiman, his deceased partner, can be credited to this as over $8 Billion worth of bitcoins were at stake in the case. With some people opposing the Bitcoin SV and others supporting in the public forums and social media, Craig Wright and BSV turned out to be the topic of discussion. Either way, it helped BSV to a large extent and its price raised dramatically in the mid-2019 reaching the year’s high $255.88 on June 22, with a total market cap of over $4 billion.

In the last half of the same year, BSV has fluctuated severely mostly due to the argy-bargy of Satoshi Nakamoto’s identity. BSV ended the decade at a price of $96.92 and comfortably stood among the top-10 most valuable cryptocurrencies.

A flying start to 2020

BSv price chart 2020
Source: CoinMarketCap

BSV sent tremors in the market with a theatric entry to 2020 with a massive upsurge in the second week of January. The price shot up over 300% in just two weeks and reached an all-time high of $441.20 on January 14. Alongside this, the young cryptocurrency cruised through the most valuable cryptocurrencies club and occupied the fifth place. The rise has taken place when the news broke out in the community that Craig Wright has acquired access to the Tulip Trust funds. The excitement didn’t stay longer and immediately after reaching the peak, BSV’s value plummeted to $248.21 on January 19, when Craig was unable to gain access to the private keys of funds in the Tulip Trust. As of writing, BSV was traded at a price of $316.62 with a market value of over five billion dollars according to CoinMarketCap.

Genesis Hard Fork

Amid the spiralling controversies and debates, the BSV team is adamant to deliver the promise of restoring Satoshi’s Vision. The community scheduled the Genesis Hard Fork event for release on February 4. With testnets and stable release already up and running, BSV is all set to deploy the major upgrade for the network. One of the most enticing changes that the community is looking forward to is completely removing the block size limit eventually transforming the chain to be highly scalable. Experts predict that this results in more transactions, adoption and might significantly impact BSV’s price. Quickly check this article for detailed info about the BSV Genesis Hard Fork. In addition, there is also a major halving event in the first quarter of 2020 which would have an impact on BSV price but it definitely deserves a separate article. Watch this space, the article’s just around the corner.

Talk of the town

It is of no surprise that BSV is a hot topic of discussion in the crypto community. On one hand, we see many influencers opposing BSV and on the other, there is some cult following to it. ChangPeng Zhao (CZ), Binance’s CEO took to Twitter to voice his concerns about Craig Wright’s claims of Satoshi’s identity. Vitalik Buterin has also slammed BSV in a video interview but he expressed scepticism about exchanges delisting BSV. On the other hand, Calvin Ayre and Jimmy Nguyen have been vocal about their support to BSV. Analysts appear to be bullish for BSV’s future. Wallet Investor predicts that BSV might be traded at a price of over $374 by the end of 2020. Crypto Rating went a step ahead and stated that BSV will be priced at $980 by the end of the same year.

To put an end,

BSV does draw a lot of scepticism and concerns on the first impression but on a deeper observation, the project reveals a completely different picture. It has been one of the best performing cryptocurrencies in the market since its inception along with plenty of technical improvements which has a greater potential to change the way crypto transactions take place. It is the only project aiming to bring back the Satoshi’s vision and is getting closer in doing so. On the whole, BSV appears to be a promising project and set to reach new heights in 2020.

On ChangeHero you can exchange all the popular cryptocurrencies to BSV at the best rates without any logins or signups. Also, you can buy BSV with zero confirmations.

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Author: changehero
January 14, 2020

Bitcoin SV came into existence to bring back the Satoshi’s Vision to the protocol but unwillingly ended up in a convoluting series of claims and controversies. Apart from harsh criticisms, BSV has a cult following and continued to perform well in the market since the derivation. The project once again caught the attention of the […]

Bitcoin SV Genesis Hard Fork: Restoring “Satoshi’s Vision” by ChangeHero

Bitcoin SV came into existence to bring back the Satoshi’s Vision to the protocol but unwillingly ended up in a convoluting series of claims and controversies. Apart from harsh criticisms, BSV has a cult following and continued to perform well in the market since the derivation. The project once again caught the attention of the community with its upcoming Genesis Hard Fork and the team believes that this major upgrade will take them a bit closer in achieving the Satoshi’s Vision.

In this post, ChangeHero will give you a quick overview of Genesis Hard Fork and things to look out for.

Hard forks are notoriously infamous for giving rise to new cryptocurrencies and BSV was also a descendant of the same club. The young crypto firm scheduled a major hard fork event on February 4, 2020. Contrary to popular beliefs, this is a pre-planned forking event to upgrade the network aiming to restore the original Bitcoin protocol.

BSV team has developed two testnets: Genesis Testnet or GT is already running with the planned features and improvements for the mainnet enabling the users to test their application behaviour prior to the hard fork. On the plus side, Genesis Reset or GR is a unique way of testing application behaviour during the forking process and will have a 48-hour reset cycle to ensure a repeatable and a stable forking. A stable release was deployed recently and a Scaling Test Network (STN) is slated for release on January 21 to enable the users to test the scalability by sending in large transaction volumes and blocks without affecting the mainnet. To put an end, the Genesis hard fork activation on the mainnet will take place at the block height 620538 and expected on February 4, 2020.

Rekindled

Scalability is one of the most concerning issues of blockchain projects and it bars both the developers and users from making the most out of it. Through Genesis hard fork, BSV aims to unleash the complete potential of the network by lifting off the block size limit. Miners will have the option either to configure their own block size limit or none at all to compete and provide the best service. Also, the update eases the limitations on data-carrier size and 25 transaction chain limits.

Furthermore, the fork will bring the original design of OP_RETURN into effect which would be a huge relief to the developers. Also, the team aims to improve the mathematical capabilities of the scripting language by replacing 32-bit numbers with “big numbers”. Besides, nLockTime and nSequence will also be restored to their original state of functionality which offers an opportunity to the users to make a transaction in the blockchain only when a certain time or block height is reached. Non-standard and complex transactions will also be made available to everyone and eliminate the need for negotiations with a miner to push the transactions.

In a surprising move, the BSV team announced that after the forthcoming hard fork, new pay-to-script-hash(P2SH)transactions will not be permitted and asserted that it would lead to better privacy and record-keeping on the chain. On top of all, the Genesis upgrade would bring more features like tokenization, Metanet-based applications, smart contracts, instant confirmations and many more.

Akin to the project, the forking event is also criticized by the crypto community and the sunsetting of P2SH is bashed by influencers. To make things even worse, Bitgo announced that its users would not be able to receive BSV after the Genesis hard fork. On the contrary, none of them appears to impede BSV and the team is busy cracking the code and delivering updates. BSV team also insists on upgrading and testing the software only on testnets and not on the mainnet. Check out their support page for more technical details.

Genesis Hard Fork appears to be an adamant attempt to revive the Bitcoin protocol and looks promising in some aspects. Despite the panning, BSV has a proven record in the market and stands comfortably among the most valuable cryptocurrencies. Though things are gloomy around this project, it is worth mentioning that BSV is trying to do bring back Satoshi’s vision and it definitely deserves the benefit of the doubt.

Did you know that on ChangeHero you can get BSV at zero confirmations? Buy BSV in a flash only on ChangeHero.

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Author: changehero
October 31, 2019

BitcoinSV is one of the most talked-about cryptocurrencies lately, courtesy to the gloomy controversies around it. Some call it a scam and others a publicity stunt, but it has always stayed on charts and stirred up debates in the community. In this article, ChangeHero attempts to reveal the facts that impacted BSV and how well it would perform […]

BitcoinSV is one of the most talked-about cryptocurrencies lately, courtesy to the gloomy controversies around it. Some call it a scam and others a publicity stunt, but it has always stayed on charts and stirred up debates in the community.

In this article, ChangeHero attempts to reveal the facts that impacted BSV and how well it would perform in the last quarter of 2019.

What is BSV? Does it bring something new to the table?

BSV is relatively a young cryptocurrency that came into existence as a result of the Bitcoin Cash hard fork that took place on November 15, 2018. BSV stands for Bitcoin Satoshi Vision, as the name implies, it was developed with aims to bring back the values and principles of the original Bitcoin. The split was led by the most popular Craig Wright and was carried out to improve the capabilities such as block size and transaction speeds.

Bitcoin SV has a few benefits over its cousins. It is focused on bringing more stability to the protocol and enable large scale businesses and developers to create solutions on the blockchain in the form of smart contracts, atomic swaps and others. Scalability is one of the major concerns for many cryptocurrencies, BSV aims to enable massive scaling and transform itself into a daily driver for transactions around the world. In order to ensure that it is on the right path, SV Gigablock Testnet (SV-GBTN) continuously measures the performance of the protocol and gives useful insights to the miners and participants about the scaling decisions.

In addition, the project also lays a major emphasis on the security and provide safe transactions. Furthermore, BSV aspires to provide instant transactions taking advantage of the zero-confirmations feature. Though these peculiarities seem to be promising, BSV has its ups and downs in it’s since its genesis.

Historical Analysis

 

Bitcoin SV price chart for 2018
Source: CoinMarketCap

Since it’s inception, BSV has always managed to remain under the top-20 cryptocurrencies. In the early November of 2018, BSV price was under a hundred dollars and caught the attention of the traders quickly due to its promotional approach as the original bitcoin. At one point, the coin was traded at around $221, but the prices quickly fell below $40 by the end of the same month due to technical issues. Right after the fall, prices shot up and continued to trade just under $100 in December.

BSV price chart for 2019
Source: CoinMarketCap

BSV started the year 2019 at around $90, but its value dropped gradually in January. Till the end of the first quarter, the coin did not see any major fluctuations and it was the calm before the storm. On 15th of April, Binance has announced its decision for delisting BSV from its exchange citing Craig Wright’s claims as Satoshi Nakamoto were untrue. Eventually, Shapeshift also announced that it would not be trading BSV anymore. These series of incidents had a significant impact on BSV and its price fell by more than 13% and was traded at just over $50.

Craig Wright’s lawsuit has stirred up a big controversy in the crypto community and resulted in the growing interest on BSV among the people. This has affected BSV to a large extent and the price grew dramatically in the mid-2019 and reached its all-time high of $255.88 on June 22, 2019 with a total market cap of over $4 billion.

In the third quarter of the same year, BSV has fluctuated severely mostly due to the argy-bargy of Satoshi Nakamoto’s identity. As of the Halloween of 2019, BSV was being traded at around $130 and is the 9th most valuable cryptocurrency with a market cap of over $700 million according to CoinMarketCap.

Expert Opinion

Bitcoin SV is one of the very few cryptocurrencies which received a lot of criticism from the crypto community. Prominent people in the crypto world have voiced their opinion on this currency with Craig Wright at the epicentre in the whole discussion.

CZ Binance on the Craig Wright controversy
Source: Twitter

Binance’s CEO, ChangPeng Zhao (CZ) has condemned Craig Wright’s claims as Satoshi in a tweet. To make things worse, Ethereum’s Co-Founder, Vitalik Buterin in an interview with Youtuber Hardware Crypto has slammed the coin calling it a complete scam but expressed scepticism about Binance’s decision to delist BSV.

Conversely, many marketing analysts predict that Bitcoin SV will see a growth in the near future. Wallet investor forecasts that BSV would be traded over $213.157 by the end of 2019. Digital Coin also suggests a similar figure of $211.2 for BSV’s closing price the same year. Trading Beasts also show a bull market for the same period but a slower one with BSV expected to be traded at around $150.

In a nutshell,

Bitcoin forks have always been debated and Bitcoin SV is the hot-topic. Despite the harsh criticism from the techies, BSV stood among the top performers in the crypto sphere since its birth with its price and the tech, as well. All in all, Bitcoin SV is quite an intricate story to unravel and might stage many gripping events in future.

On ChangeHero you can swap any cryptocurrency to BSV at a lightning speed. We offer zero confirmations feature for BSV purchases. Give it a shot.

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