Bitcoin SV, often referred to as Bitcoin Satoshi Vision, is a cryptocurrency that emerged as a result of a hard fork from the Bitcoin Cash network. This hard fork was initiated by prominent figures in the cryptocurrency space, including Craig Wright and Calvin Ayre. Bitcoin SV is positioned as an alternative to Bitcoin (BTC) and aims to provide a unique vision for the future of digital currency.
Bitcoin SV’s origin: Dispute over block size
The genesis of Bitcoin SV can be traced back to a significant disagreement within the cryptocurrency community over the block size. Specifically, the dispute centered on the optimal block size for blockchain transactions. The Bitcoin SV team, led by Craig Wright and a select group of developers, argued for a substantial block size increase to 132 MB. In contrast, the Bitcoin Cash team, championed by Jihan Wu and Roger Ver, insisted on maintaining a block size of 32 MB. This debate ultimately led to what was known as the “hash wars.”
During the hash wars, Jihan Wu’s influential role as the head of Bitmain, one of the largest Bitcoin mining companies, played a pivotal role in Bitcoin Cash’s victory. This victory compelled the Bitcoin SV team to pursue a separate path through a hard fork, thereby giving birth to Bitcoin SV as an independent cryptocurrency.
It is important to note that the primary differentiation between Bitcoin SV and Bitcoin Cash lies in their respective block sizes. While the block size debate fueled the creation of Bitcoin SV, it is the most significant difference between the two cryptocurrencies.
Controversies surrounding BSV
One of the enduring controversies associated with Bitcoin SV revolves around Craig Wright, a key figure in the Bitcoin SV team. Wright made the bold claim of being Satoshi Nakamoto, the pseudonymous creator of Bitcoin. However, this assertion has been met with widespread skepticism and controversy within the cryptocurrency community. Wright’s actions and statements have sparked negative reactions and raised doubts about his claims, further affecting Bitcoin SV’s reputation.
Due to the controversies and legal actions surrounding Craig Wright, Bitcoin SV faced delisting from several prominent cryptocurrency exchanges. Notably, Binance, one of the world’s largest exchanges, made the decision to delist BSV. Other exchanges, such as Shapeshift and Kraken, also removed Bitcoin SV from their platforms, citing concerns and uncertainties regarding the cryptocurrency.
Despite the delisting from certain exchanges, Bitcoin SV is still accessible on a number of cryptocurrency platforms. Among these, Huobi Global stands out as a significant exchange where BSV is listed. Huobi Global is recognized for its liquidity and is currently ranked as the leading exchange for the BSV/USDT trading pair.
How to purchase Bitcoin SV on Huobi
For those interested in acquiring Bitcoin SV on Huobi, the process is straightforward and involves a few simple steps:
Deposit: First, you need to deposit funds into your Huobi account. You can deposit Tether (USDT), Bitcoin (BTC), or Huobi USD (HUSD).
Spot Transactions: After completing the deposit, navigate to the “Spot Transactions” section at the top of the platform and click on the “Exchange” tab.
Select BSV: In the new section that opens, choose the USDT pairing and then select BSV from the list of available assets.
Place an order: Specify the amount of Bitcoin SV you wish to purchase and click on the “BUY BSV” tab to place your order in the market.
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