Until the BSV coin was added to the Allcoins.pw website, I wasn't interested in that at all. In fact, even the name of this coin was little known to me. Maybe I heard something there once, but it didn't interest me.
When I noticed it, the price wasn't too high, it hovered around $ 60. At some point, practically overnight, its price began to soar to $ 140. For a few days, it hovered around that number to go down to $ 70. I decided to take a closer look at the BSV.
I was surprised when it turned out that nChain from Craig's Wright's was behind the development of Bitcoin SV.
Craig Wright has repeatedly tried to convince the world that he had created a cryptocurrency project called Bitcoin and that he was actually hiding under the pseudonym Satoshi Nakamoto. However, since he never provided evidence that he was the creator of BTC, the cryptocurrency community called him a usurper.
Wright himself claims that BSV is the realization of his vision of the perfect cryptocurrency. BSV stands for "Bitcoin Satoshi Vishion" or Satoshi Nakamoto's vision.
Let's go back to the initial BSV development phase.
On November 15, 2018, the Bitcoin SV network split off from the Bitcoin Cash (BCH) chain during hardcore (network updates) events due to a community dispute over the further development of the BCH network.
As I mentioned, Bitcoin SV is developed by nChain. However, due to the concentration of over 80% of hashrate in the three mines owned by the project's creators and promoters - Coingeek (owned by Calvin Ayre), BMG Pool and SVPool (directly linked to Craig Wright), it is seen as a completely centralized network.
The maximum supply of Bitcoin SV (similar to BTC and BCH) is 21 million units. There are currently 18,800,264 BSVs in circulation
Let's go back to the basic topic. Well, as I mentioned, the price of the BSV can surprise you.
Some historical data. Let's go back to 2019
screen from https://bitinfocharts.com/pl/bitcoin%20sv/
On 5/17/2019 we able to buy a BSV for around $ 59, 5/20/2019 for $ 80, and on 6/5/2019 we had to pay 1 BSV $ 221. So in less than three weeks the price of the coin increased by 360%.
There were over a many such price jumps. Interestingly, BSV paid no attention to the BTC price. There have often been times when the BTC price has dropped significantly while the BSV has gone up. And that's what got me interested in this coin. It occurred to me that he is like a cat that always follows its own path. ;).
The last 3 months also saw price jumps: from USD 434.82 on May 6, 2021 through a drop to USD 116 on June 22, 2021. Now we have the end of July and BSV costs USD 138 with an upward trend.
Screen from https://coinmarketcap.com/currencies/bitcoin-sv/
In April this year, BSV was withdrawn from several large exchanges (including Biance, Kraken). Blockchain.com web wallet. decided to withdraw support for Bitcoin SV. The reason was Craig Wright's threats in late March this year against people who deny that he is the creator of bitcoin.
Currently, the largest Bitcoin SV liquidity is provided by the HitBTC exchange.
I think the BSV is a coin worth keeping in your wallet.
I am curious what your opinions are on this.
