Denominations | |
---|---|
Symbol | ₿ |
Code | BSV |
Precision | 10^-8 |
Development | |
Project fork of | Bitcoin Cash |
Ledger | |
Split height | #556766 / 15 November 2018 |
Timestamping scheme | Proof-of-work |
Block reward | 3.125 BSV |
Block time | 10 minutes |
Circulating supply | 18,874,300 BSV (2021-10-20) |
Supply limit | 21,000,000 |
Website | |
Website | www |
Bitcoin Satoshi Vision (BSV) is a cryptocurrency that is a hard fork of Bitcoin Cash. [1] Bitcoin Satoshi Vision was created in November 2018 by a group of individuals led by Craig Steven Wright, who has claimed since 2015 to be Satoshi Nakamoto, the creator of the original bitcoin. [2] [3]
On 15 November 2018, a hard fork chain split of Bitcoin Cash occurred between two rival factions called Bitcoin Cash and Bitcoin SV. [4] [5] On 15 November 2018 Bitcoin Cash traded at about $289, and Bitcoin SV traded at about $96.50, down from $425.01 on 14 November for the un-split Bitcoin Cash. [6]
The split originated from what was described as a "civil war" in two competing Bitcoin Cash camps. [7] The first camp, supported by entrepreneur Roger Ver and Jihan Wu of Bitmain, promoted the software entitled Bitcoin ABC (short for Adjustable Blocksize Cap), which would maintain the block size at 32 MB. [7] The second camp led by Craig Steven Wright and billionaire Calvin Ayre put forth a competing software version Bitcoin SV, short for "Bitcoin Satoshi Vision", which would increase the block size limit to 128 MB. [4] [7]
In April 2019, an online feud broke out between those who supported the claims of Bitcoin SV supporter Craig Wright that he was Satoshi Nakamoto, and those who did not. [8] The feud resulted in cryptocurrency exchange Binance de-listing Bitcoin SV from their platform, stating that
"At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all of our users.
When we conduct these reviews, we consider a variety of factors. Here are some that drive whether we decide to delist a digital asset:
- Commitment of team to project - Level and quality of development activity - Network / smart contract stability - Level of public communication - Responsiveness to our periodic due diligence requests - Evidence of unethical / fraudulent conduct - Contribution to a healthy and sustainable crypto ecosystem" [8]
In August 2021, Bitcoin SV suffered a 51% attack, after previously suffering attacks in June and July of the same year. [1] Such an attack involves cryptocurrency miners gaining control of more than half of a network's computing power; these kinds of network attacks have the goal of preventing new transactions from gaining confirmations, allowing the attackers to double-spend coins. Adam James, senior editor at OKEx Insights claimed that "In the intermediate term, the attack has seemingly somewhat-negligible impact on its current price action," however "Faith in [Bitcoin SV] will likely be reduced following the incident." [1]
In March 2024, Mr Justice James Mellor in the British High Court ruled that Wright is not Satoshi Nakamoto. [9] [10]
Dave Kleiman was an American computer forensics expert, an author or co-author of multiple books and a frequent speaker at security related events.
Adam Back is a British cryptographer and cypherpunk. He is the CEO of Blockstream, which he co-founded in 2014. He invented Hashcash, which is used in the bitcoin mining process.
Bitcoin is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight. Consensus between nodes is achieved using a computationally intensive process based on proof of work, called mining, that secures the bitcoin blockchain. Mining consumes large quantities of electricity and has been criticized for its environmental impact.
Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation. As part of the implementation, Nakamoto also devised the first blockchain database. Nakamoto was active in the development of bitcoin until December 2010.
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
Gavin Andresen is a software developer known for his involvement with bitcoin. He is based in Amherst, Massachusetts.
Bitcoin is a cryptocurrency, a digital asset that uses cryptography to control its creation and management rather than relying on central authorities. Originally designed as a medium of exchange, Bitcoin is now primarily regarded as a store of value. The history of bitcoin started with its invention and implementation by Satoshi Nakamoto, who integrated many existing ideas from the cryptography community. Over the course of bitcoin's history, it has undergone rapid growth to become a significant store of value both on- and offline. From the mid-2010s, some businesses began accepting bitcoin in addition to traditional currencies.
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Wei Dai is a computer engineer known for contributions to cryptography and cryptocurrencies. He developed the Crypto++ cryptographic library, created the b-money cryptocurrency system, and co-proposed the VMAC message authentication algorithm.
Craig Steven Wright is an Australian computer scientist and businessman. He has publicly claimed to be the main part of the team that created bitcoin, and the identity behind the pseudonym Satoshi Nakamoto. These claims are generally regarded as false by the media and the cryptocurrency community. In March 2024, Mr Justice James Mellor in the British High Court ruled that Wright is not Satoshi Nakamoto. In July 2024, a British High Court judge referred Craig Wright to UK prosecutors for alleged perjury related to his claims of being Satoshi Nakamoto. As of 2019, Wright lived in the United Kingdom.
Bitfinex is a cryptocurrency exchange owned and operated by iFinex Inc, and is registered in the British Virgin Islands. Bitfinex was founded in 2012. It was originally a peer-to-peer Bitcoin exchange, and later added support for other cryptocurrencies.
Bitcoin Cash is a cryptocurrency that is a fork of bitcoin. Launched in 2017, Bitcoin Cash is considered an altcoin or spin-off of bitcoin. In November 2018, Bitcoin Cash further split into two separate cryptocurrencies: Bitcoin Cash (BCH) and Bitcoin Satoshi Vision (BSV).
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Binance Holdings Ltd., branded Binance, is a global company that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software. Binance was initially based in China, then moved to Japan shortly before the Chinese government restricted cryptocurrency companies. Binance subsequently left Japan for Malta and currently has no official company headquarters.
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