In this blog post I will write about BitcoinSV
- What is BitcoinSV and how the cryptocurrency claims to be. I already wrote a blog post telling why I do not endorse other cryptocurrencies (only Bitcoin), but in this post I will only explain the BitcoinSV concept. In my opinion, BitcoinSV was created by a group of influencers that want to capitalize faster and keep the thing centralized which is not the Satoshi Nakamoto's vision
. After the hardFork that creates BitcoinSV, most of cryptocurrency wallets
started to announce they won't support the coin and also will cease the support of dozens of meaningless coins. But, wait! Isn't Bitcoin Cash the strongest coin on Earth? What are the real interest on creating BitcoinSV? This is only showing the real Bitcoin
will be recover and keep steps away the small cryptocurrencies.
BitcoinSV is the result of the BitcoinCash hard-fork that claims will follow the Satoshi Nakamoto's vision. So, the SV of BitcoinSV means Satoshi Vision. BitcoinSV aims to be a easy environment to businesses create applications and websites, in a BCH implementation that was chosen by miners. BitcoinSV will be used to easily replace payment methods available in all markets with cheaper rates and security. In the BitcoinSV site (Bitcoinsv.io
) you can read the cryptocurrency was created by CoinGeek Mining which the owner is Calvin Ayre. The development started with nChain and the project is owned by another Antiguan-based bComm Association.
BitcoinSV claims to use instantly transactions with 0 confirmation time and with this, more scalable. On April 2009, Satoshi Nakamoto stated that the VISA credit card processes daily 15 million of online purchases and that Bitcoin can scale to accept much more than that with low cost in hardware. BitcoinSV will be focused on Stability, Scalability, Security and Instant transactions. All these items are important for the adoption of Bitcoin to brick and mortar businesses. BitcoinSV stability will be given through the restore of the original Bitcoin protocol enabling innovation to be applied in a stable base. The scalability is something very important when it comes to a global money platform by supporting huge volume of transactions and the possibility to scale the whole network. BitcoinSV uses the Gigablock Testnet with will indentify bottlenecks and perform changes by running constant cycles of tests, informing miners and businesses within the network of scaling decisions. The instant transaction capability is also attractive for global businesses who want to get fast payments and the adoption of the currency as payment method.
The official site BitcoinSV.io
said a growing number of wallets are starting to support BitcoinSV. But, there are also a huge number of wallets that don't support the new cryptocurrency
. After the hard-fork, a lot of wallets announced that not only will not support BitcoinSV but also will stop to support numerous of small coins and keep the focus in most important coins. There are some wallets that only support SV while others started to support SV alongside multiple others. Here you can check some BitcoinSV wallets: CashPay, Centbee, coinomi, HandCash, PixelWallet. Some services: Bitcoin ATM, Bitek, Bitstocks, ColoredCoins, Cryptonize.it, CryptoTradersPro, Fivebucks, GifterCash, Keyport TV and more. Exchanges: BitAsiaEx, Poloniex, SimpleSwap.