Post Bitcoin Cash (BCH) Split, Satoshi’s Vision Token Continues to Look Grim and Dim for BSV
Currently, Bitcoin SV, which split from Bitcoin cash after a hard fork is about to fall out of the top 10 crypto list. It has been a month since the split and things are have become less turbulent and more vivid around the two new offsprings of BCH.
Although Bitcoin ABC has a completely different trajectory when compared to SV. In the recent so-called mini bull run(which saw the price of BTC increase from $3,300 to $3,800), ABC posted an uncharacteristic rise of 33% when Bitcoin SV struggled with 13.5%. Bitcoin SV has failed to rally as strongly most other major coins this week, with the original bitcoin, ripple (XRP), and ethereum, escalating.
Dispute for BCH began in November when two teams of developers and miners failed to agree on a direction to talk bitcoin cash, with the row centered around the same thing that split bitcoin cash from bitcoin in the first place—block size. When the split occured both refused to back down from the claims of being the “real BCH” which triggered the fear for a hash war. This might be the biggest reason for the recent slump in the valuation of the crypto market.
After the split, it was obvious that Bitcoin ABC had come on top. Coinbase made the first announcement by declaring that they are going to side with Bitcoin ABC. Miners have also shown their allegiance with ABC.
“It is time to stop thinking on the casino [exchange] price of Bitcoin. The value comes with use. That is, as an on-chain ledger. Scale. 128 next, then 512mb Business buy space, they do not care about exchange prices, as what matters is use cost. Miners are paid, value results,” Wright said.
These are one of the reasons why SV has been going downhill. The self-proclaimed Satoshi has taken down the entire vision of his project.