Dec 15, 2018 15:20 UTC
Dec 18, 2018 at 06:23 UTC
Can Bitcoin SV Surpass Bitcoin Cash?
Post the November 15 Hard Fork of BCH, the crypto market has been split into two camps, the BSV and BCH camp.
Bitcoin Satoshi Vision and Bitcoin Cash, the two virtual currencies are currently fighting it out hard in the market to come up at the top. Craig Wright and Roger Ver are also trying to get the market to back their respective currencies in the market.
At the moment, BCH is trading at a slightly higher price than BSV but the difference is too close to call it right now.
However, that wasn’t the case just a few days back. Back on December 7th, BSV had briefly overtaken BCH in terms of price as well as market capitalization.
So let’s analyze some of the facts we already know, in order to predict who will come out at the top by the end of this year.
Team BCH or Team BSV?
Well if you can’t quite decide which faction you belong to, take a look below to figure out which cryptocurrency has the better claim.
Firsty, BSV led by Craig Wright, claims that it is the original bitcoin use case and it adheres to Satoshi Nakamoto’s original vision. BCH on the other hand led by Roger Ver, is a major fork of Bitcoin that has been around for some time now.
It is more profitable to mine BCH than BSV under current market circumstances.
The hash time required to mine BSV is 30 MB per block, i.e around 20 mins, whereas the hash time required is mere seconds for BCH.
So the numbers clearly reflect that it is currently 8.70% more profitable to mine in BCH blockchain.
Jimmy Nguyen, the Group CEO of nChain, which collaborated with Craig Wright to create BSV, has full faith in BSV’s potential to surpass BCH.
It’s a nice achievement for #BitcoinSV #BSV to so quickly overtake BCH-ABC in price & market cap. But we can’t dwell on price; it’s just one indicator that #Bitcoin is back on the right track. We are just getting started and much more work is needed to fulfill #SatoshiVision pic.twitter.com/nJxsBeH2xQ
— Jimmy Nguyen (@JimmyWinMedia) December 7, 2018
BCH on the other got a massive boost when it Bitcoin Cash was listed on the Gemini Exchange. The exchange, founded by the Winklevoss brothers has clearly indicated the side they are on.
Cryptocurrency exchange Gemini has just announced plans to start supporting Bitcoin Cash (BCH) trading on its platform…..🔽https://t.co/SJ62IhQC5P#cryptocurrencynews #cryptocurrencies #cryptotrading #bitcointrading #cryptocurrency #cryptoexchange #BitcoinCash #BCH #Gemini
— BTC Wires (@btc_wires) December 8, 2018
At the moment, both the camps are trying to figure out how to make their crypto the more viable and profitable crypto on the market. They are each introducing new developments to the existing cryptocurrency to appeal to a wider user base.
It is very difficult to predict which crypto will come out at the top of this since they are both cutting it too close.
BCH is winning the war at the moment but the tides can turn pretty quickly. We will just have to wait and see whose court the final ball lands in.
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