With the reduction ofHalfway today, another Bitcoin fork will become scarcer tomorrow: Bitcoin SV (BSV). In the case of the controversial fork, the emission rate will be halved after your own halving.
Halving Bitcoin SV in less than 2 days
At the time of writing, Bitcoin SV is expected to cut in half in just under two days. It is planned to appear in block 630,000. The number of Bitcoin SV mined per block is then 6.25 BSV instead of the usual 12.5 BSV.
It appears that expectations increase the BSV in anticipation of the halving event. At the time of writing, the BSV is trading at $ 207 and has risen 8.25% in US dollars. However, it has dropped dramatically from its previous high. BSV was trading near $ 371 in mid-February before falling to $ 103 in mid-March.
It is unclear whether this rally will be strong enough to continue after the hard fork. In addition, the mining situation in the Bitcoin SV blockchain was examined. At the time of writing this article The Bitcoin SV hash rate is 2.6E, while the Bitcoin rate is currently 105E.
Can you follow the BSV chain?
BSV may become scarcer, but many are wondering whether it brings something new to the table alongside the additional controversy.
As most in the crypto space already know, the Bitcoin fork was founded by Craig Wright, the self-proclaimed “true Satoshi Nakamoto”. In February, he even claimed that Bitcoin and Bitcoin Cash owed him more than $ 100 billion for “stealing his idea.” His claims about Satoshi’s identity were a constant source of controversy and jokes at Wright’s expense.
The network architecture of Bitcoin SV does not differ significantly from the more well-known branch Bitcoin Cash (BCH). In fact, BeInCrypto reported in February that BSV nodes accidentally connected to BCH nodes.
There was a time in February when commentators expected Bitcoin SV to outperform Bitcoin Cash in the cryptocurrency ranking by market cap. At the moment, however, Bitcoin SV is the sixth largest cryptocurrency and lags behind Bitcoin Cash.
Traders need to take a closer look at BSV and what happens after it is halved – maybe some lessons will be given about what to expect after Bitcoin (BTC) halves in May.
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