Bitcoin Satoshi Vision (Bitcoin SV) was created to maintain the integrity of the Bitcoin public ledger by reverting back to the original Bitcoin protocol with the intention of keeping it stable and secure and allowing it to scale massively in order to accommodate global demand for open public ledger technology. But why don’t so many people know exactly what a BSV coin is and what benefits it has?
The origins of BSV.
The history of Bitcoin Satoshi Vision (BSV) is closely tied to the history of Bitcoin itself. BSV was created in late 2018 as a result of a hard fork from the Bitcoin blockchain. This hard fork was a result of disagreements within the Bitcoin community over how to scale the network.
Supporters of BSV believe that restoring Bitcoin to its original vision as described in the Satoshi whitepaper will result in a more efficient and scalable blockchain that can be used for global payments. They argue that this will allow BSV to become the true digital currency global payments system that Satoshi Nakamoto originally envisioned.
What is the main benefit of BSV?
- Scalability: The Bitcoin Cash network has been able to successfully process more transactions than what was originally announced. With a bigger block size, BSV helps scale the whole system and allows for even better scalability in future years.
- Cost: With their goal to minimize transaction costs, developers created an affordable and fast cryptocurrency that can be used on a large scale. They believe these are what make up for success with the new BSV currency as it grows exponentially more popular day by day.
- Structure: To the surprise of many, Bitcoin SV’s implementations were not an entirely new blockchain but rather took plenty from its predecessor. This led to it being called “BSV” – a chain with more changes than ABC which stands for ‘Bitcoin Modifications.’
- Security. As a global currency platform, the project needs to guarantee a shatterproof level of security. Bitcoin SV develops a rigorous Quality Assurance for mining node software to make it a reality. Threeactivitieswillfacilitateitsdevelopment
- Stability. Big firms and corporations dislike volatility. They need a stable platform to operate. Frequent, repeated, and unproven changes present substantial obstacles and uncertainties for large-scale businesses to commit to building applications on top of projects like Bitcoin Cash. For this reason, the development of Bitcoin SV includes only the most critical changes that gear the chain towards the original Bitcoin design, and spur innovation on top of its stable base protocol.
What makes BSV different from the original Bitcoin?
As Bitcoin becomes more popular and mainstream, transaction fees have steadily risen to $30 per bitcoin on average. But why does this happen?
The reason is how the Bitcoin system works. It always gives a fixed size for every block – exactly 1MB. Because of it, there can be only a limited amount of transactions, which can last even for hours, at the same time. A limited amount of transactions leads to such high fees.
But the BSV System works completely differently. It doesn’t have a specific size for one block, instead, it allows that size to be unlimited. Faster speed and lower price – are the results of one difference in how two different systems operate.
How can you buy BSV?
The purchase of BSV is not quite difficult. In a few steps, you can easily get yourself a couple of Bitcoins. Here’s a quick guide for you:
- Find yourself a suiting wallet. The three best variants would be handcash.io, relayx.io, and centbee.com.
- Sign up for a cryptocurrency exchange like Float SV, CoinSquareor Coingate. You will need to provide your ID and other personal details just like opening a bank account in order to use your account! This process can take up to 72 hours though so don’t wait until the last minute before doing this.
- Then, exchange currency (USD, EUR, RUB, and so on) with BitcoinSV with your payment system, debit or credit card.
- Now you can simply transfer your purchased BSV to your BSV Wallet – just connect your wallet’s address.
What are some of the biggest businesses that are accepting BSV payments?
More and more modern companies are accepting purchasing with cryptocurrency, so there is no wonder that the list of businesses, that operate with such stable coin, is growing every day. Here’sjustanexampleof a few top companies:
- ALT 5 Sigma – it allows you to accept digital assets as payment without the risks associated with market volatility.
- The Bitcoin Wardrobe – a merchandise store, operating, as they say, with knowledge and discussion.
- PBN Hosting SL – the best-in-class PBN hosting provider for private blog networks.
- Rock’n’Block – a blockchain for startups and businesses.
- Snel.com – your friendly hosting provider.
What is the future of Bitcoin SV?
It is only to be seen what the future is waiting for BSV. Being quite young in its field, this currency will surely gain many supporters around the Globe, thanks to its stability, speed, and cost. By now it has already found partnerships with a lot of well-known businesses.
All we can say is that we’re sure of BSV’s success. BitcoinSV is great-promising, with big benefits over its competitors. But it is always up to you to draw your own conclusions.
All in all, it’s strange that so many people are not familiar with Bitcoin Satori Vision, although it has all the potential to become the best of the best cryptos in its field. The original Bitcoin may be older and more valuable, but BSV is way over its head with a great speed of transactions and a low fee, thanks to its larger block size.
It doesn’t seem pointless to think about investment in this network. Especially in its early stages.
Overall, the long-term bullish prediction for BSV is encouraging because of the network’s ability to scale efficiently as a green technology. If you’ve never considered Bitcoin SV as a worthy investment yet, now is the time to give it a second look.
- Solana Crypto Price Prediction and Future
- What is Zcash (ZEC)? How does Zcash work?