The hashrate war between Bitcoin ABC and Bitcoin SV may be nearing completion after the latter’s team announced it had abandoned claims to the original Bitcoin Cash chain and intended to focus on creating its own applications. This news also had a positive effect on the price of Bitcoin SV, which over the past day has risen in price by more than 70%, exceeding the mark of $120 at some point.
Coingeek owner Calvin Ayre was the first to offer his own vision of Bitcoin SV’s own path even last Friday.
here is my formal current view on how to sort the worlds first Bitcoin Hash war out. I call on all exchanges, wallets and payment processors to work with us on this Win/Win settlement plan.https://t.co/WZCjeMMiKK
— Calvin Ayre (@CalvinAyre) November 23, 2018
In his message, he says that the two blockchains, formed as a result of a Bitcoin Cash hardfork on November 15, have completely different goals and that there is nothing that could unite them in the future. In this regard, Calvin Ayre said that Bitcoin SV no longer claims the name Bitcoin Cash (BCH) and that Bitcoin SV is now the original Bitcoin Satoshi Nakamoto intended it to be. He also confirmed that Craig Wright’s company would be happy to leave Bitcoin ABC if replay protection is integrated.
And on Sunday in Craig Wright’s blog appeared a record, in which he presented a roadmap for Bitcoin SV and his vision of the project. And the described scenario sounds very ambitious.
So, if at the moment the block size in BSV is 64MB, in six months it will be increased to 512MB, and in a year to 2GB. In six months, the miner’s reward will be about $8,000 per mined block. For this to happen, he said, it is necessary that Bitcoin SV cost about $640 on exchanges.
“The simple answer is: Bitcoin as SV will have miners earning over $8,000 a block based on use alone. That equates to $640 a bitcoin on exchanges, and we have not factored in the gambling price of bitcoin, just what miners will earn as a service.”
After another 2-3 years, Bitcoin SV through the Teranode project nChain will be scaling to 1TB and can grow further, processing 6.5 million transactions per second. If you combine the bandwidths of Visa, MasterCard, SWIFT, and all global currencies, not just cryptocurrency, together they will gain only 15% of the future size of the Bitcoin SV block, he says. Moreover, at this stage, the miners will earn $600,000 per block.
The statements of Craig Wright, which previously have unsuccessfully tried to prove that he was the creator of Bitcoin, may sound extremely loud, but at least the latest events influenced the price of Bitcoin SV quite well. Over the last 24 hours, the coin has significantly increased in price, reaching $125 earlier today and at the moment it has the same price as Ethereum.
Note that CoinMarketCap still does not reflect BSV capitalization, however, according to Coingecko, this figure has already exceeded $2 billion, which puts Bitcoin SV in seventh place.
Note that the second in terms of trading volume, OKEx exchange, has added support for the holders of Bitcoin Cash BCHABC and BCHSV coins. Each asset is available in pairs with Tether USD, Bitcoin, Ethereum and OKB token.
BCH HARD FORK: We'll distribute BCHABC and BCHSV according to the snapshot taken at 5:35am-5:40am Nov 16, 2018 (CET). Trading will open from 8am Nov 19, 2018 (CET) by using the call auction mechanism.#okexannouncement https://t.co/dMZkh6yowT
— OKEx (@OKEx) November 18, 2018