Markets are down all across the globe. Wall Street has seen significant declines in its prices, futures trading was temporarily suspended and the general sentiment has been somewhat bleak. According to CoinMarketCap, even Bitcoin Core (BTC) is down, dropping 2.81% in the past 24 hours. In fact, all of the top five cryptocurrencies have seen declines of as much as 13%. In all of the chaos, though, there is a beacon that is shining bright. As of this writing, Bitcoin SV (BSV) has climbed 24.80%.
BSV now sits in the number five spot in the cryptocurrency rankings by market cap. Its current price sits at $110.94 and doesn’t show any signs of slowing down. This makes BSV more valuable than Ether, which is trading at just $97.57. Bitcoin Cash (BCH), which includes the controversial Bitcoin ABC version of BCH following the hard fork earlier this month, has dropped by 18.32% in the same period and now sits in seventh place by market cap – below Tether.
One of the reasons BSV is gaining ground is because of miners. They have remained loyal to BSV and their loyalty is beginning to show signs of paying off. It has been a difficult road, but one that has been well worth it in order to continue to develop the only cryptocurrency that follows the original definition of what a digital currency should be.
BSV has seen increases of almost 40% over the past week. While it’s difficult to determine exactly why it continues to climb, there are educated conclusions that can be made. BCH was running solid when it was still being rightfully viewed as the original Bitcoin as defined by Satoshi. As soon as chatter began that there were discrepancies in the direction the blockchain would take, the wobbling began. That wobbling continued through the hard fork, leading to the unprecedented drops seen in the price of BCH.
BSV is moving forward with a model that will ensure that Bitcoin lives on. This is being recognized by crypto enthusiasts who are beginning to understand that BSV and its supporters were right all along. Of course, a lawsuit against everything Bitcoin ABC stood for doesn’t help BCH’s cause, either.
There’s no way to know whether or not this bullish trend will continue. However, things are certainly looking up for BSV.
The current coin down turn is actually good for the industry as its exposing the ridiculousness of all the other coins business models – including Bitcoin Core (BTC) has been seriously overvalued given its inability to be used as electronic cash. Cryptocurrency value should always have been about utility, and that requires ability to massively scale as well as low cost secure micro-transactions. Though painful for those going in the wrong direction, this market correction will allow the facts to shine through and we hope that once this is over everyone will understand that this is and always has been about real utility and scaling.
Digital gold models and ICOs are all fiction and have been very bad for this industry. Both will result in massive loses for many investors, and have obscured the understanding that cryptocurrency needs scaling to be the new global money, what Bitcoin (now existing as Bitcoin SV) was created to do.
We are glad we fought Bitcoin ABC and had Bitcoin SV stand its ground. Otherwise, the original Bitcoin would have died again last week when Bitcoin ABC rushed in a series of code changes which depart from Bitcon’s core principles. Bitcoin SV has preserved the original Bitcoin and will make sure it succeeds.
Bitcoin SV is therefore seriously undervalued now, and the token best positioned to grow in value. Our prediction is that this market correction will result in Bitcoin SV being the only cryptocurrency that you can retreat to and preserve value. It is also the only one that will protect mining industry revenue for the future, and it’s the blockchain where the explosion of new business models will happen. In fact, we’ve quickly seen that most of the BCH native applications and businesses are switching over to BSV. Anyone who switches to BSV now will be ok…those who stay with a cryptocurrency or blockchain with no reason to exist will lose everything.
Bottom line, though painful, this correction is good for the industry longer term and good for society.
The post Why Bitcoin (Segwit BTC) and Ethereum alt coins dumping is good for society appeared first on Coingeek.
At the Cryptartica-hosted London BCH Speakers Series II, Petter Ikekhua of CoinGeek shares the top reasons why Bitcoin is a win for merchants.
Why is merchant adoption important for Bitcoin to grow?
The answer, according to Petter Ikekhua of CoinGeek, is simple: because the currency needs to gain value.
“The actions of buyers, people with money, always have to equal the actions of sellers. So if you’re not selling anything, you can’t generate value. And therefore merchant adoption is the most important thing because they are selling things and they have to accept bitcoin cash in order for the currency to gain value,” Ikekhua tells the audience at the recently held London BCH Speakers Series II event.
Ikekhua also explained the top reasons why Bitcoin is a win for merchants, and how he helps merchants onboard Bitcoin as a method of payment. Simply put, the original Bitcoin, now reborn as Bitcoin SV (Satoshi Vision), is the only platform that has proven its ability to scale to enterprise levels—facilitating what is needed for global commerce.
“The reason why Bitcoin is the main currency for merchants is because it’s the only blockchain which has the roadmap to scale to beyond 1GB block size,” Ikekhua said.
Ikekhua also touched on some of the questions or concerns merchants commonly have, explaining that the main challenge isn’t actually about comparing Bitcoin to another payment method or currency.
“The main challenge is actually nothing,” he said. “The option they have is to accept it or do nothing. The reason why is because there is nothing like Bitcoin. Period. It’s very much comparable to new technologies which also faced a very low adoption curve in the beginning … When I speak with businesses, I never position myself in a way where I’m trying to explain that this is a better way than doing Visa payments Mastercard payments or anything similar. It’s about changing their perception of how people would do commerce in the future.”
Ikekhua will join other industry leaders at the CoinGeek Week Conference in London, where they will share their stories about their journey to increase adoption. The conference, taking place at the Mermaid, Puddle Dock in London on November 28-30 (with a special, invitation-only Miners Day event on November 27), is a celebration of the rebirth of the original Bitcoin as Bitcoin SV, and it’s also the perfect opportunity to learn from experts the importance of scaling to enterprise levels on the original Bitcoin chain—now named Bitcoin SV (BSV)—the only platform that has proven its ability to achieve this.
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The hash war between Bitcoin SV and Bitcoin ABC is far from over. Bitcoin SV (BSV) is continuing to develop the blockchain in accordance with what cryptocurrency was meant to be—a peer-to-peer electronic cash—in an effort to ensure that crypto fulfills its reason for existence. To that end, preparations are being made that will allow the network to handle more transactions than any other cryptocurrency.
Dr. Craig Wright stated in a Medium post two days ago that BSV will be able to process as much as 1 terabyte (TB) of transactions within three years. This volume is imperative to allow a blockchain to handle the number of transactions that can rival other types of payments, including PayPal and credit card processors.
Wright also asserts that miners will be able to make substantial returns within six months because of the scaling endeavors. He explained, “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.”
Miners should get behind BSV now to take advantage of the mining capabilities. As Wright points out, “With the Teranode project nChain will be scaling Bitcoin SV to handle over 1.0 TB within the next 3 years (aiming for 2) and growing sizes from there. At that level, miners will earn over $600,000 for each Terabyte block, and this is every 10 minutes on average.”
The crypto pioneer and chief scientist for nChain added that, within two to three years, BSV will be processing 6.5 million transactions a second. This is “Visa, MasterCard, banking in SWIFT, and ALL global currencies (not just crypto) in under 15% of a block.”
BCHSV, the cryptocurrency that was created to support the hard fork of Bitcoin Cash, has seen substantial gains over the past week. After reaching a low of around $38 on November 22, it is now trading at $103.79, according to CoinMarketCap, at the time of this writing. On the other hand, BCHABC, which represented the other half of the hash war, continues to fall. According to the latest data from CoinMarketCap, its value has dropped over 20% and continues to decline.
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2018年11月27日 – CoinGeek Mining很高兴地宣布原始比特币凭借Bitcoin SV（货币符号：BSV）得以回归。CoinGeek将支持比特币现金（BCH）的永久性区块链分裂，继续挖掘BSV链，并与全球其他个人和组织合作，为BSV货币建立一个充满活力的生态系统。这标志着2018年11月15日网络升级所引发的BCH算力大战的结束。
在2018年11月15日的网络升级之后，BCH分成两条竞争链，双方一直在争取矿工投票以领导网络规则集。ABC的支持者利用租来的哈希算力制造了早期领先的幻觉，而Bitcoin SV的矿工们则使用自己真正投入的挖矿算力，在硬叉之前展示主导优势，并从此获得一致的支持。自从ABC的人为早期领先以来，Bitcoin SV链已经取得了进展。11月25日，BSV链显著领先ABC成为最长的链，有时甚至领先30多个区块。在累积的工作量证明上，Bitcoin SV还将ABC的领先优势降低至26%（就在几天前该差距为55%）。因此，这场算力大战的趋势正如CoinGeek所预测的那样，SV的持续算力为持久战斗并最终超越ABC的“租赁”或补贴的算力做好了准备。
“在去年比特币核心成为隔离见证货币后，我们的使命一直是确保原始比特币的生存并得以成功。就在上周，随着一系列激进和单方面的代码更改，ABC的BCH已经远远偏离了原始的比特币，它现在就是一个替代币的开发者实验品，我们已不再对它或其黯淡的品牌感兴趣。Bitcoin SV为保卫中本聪愿景而战，并代表原始的比特币。我们现在将完全专注于构建一个已经充满活力的Bitcoin SV生态系统。尽管ABC可能保留受损的BCH货币符号，但BSV正在带领大队人马赢得BCH原生的应用生态系统。我们期待在市场上超越BCH（及BTC），而不是更多的区块链争斗。”
在短时间内，BSV生态系统已经迅速得到发展。如 CoinMarketCap所列，许多交易所已经在交易Bitcoin SV（目前被标志为BSV和BCH-SV）。不计其数的BCH钱包、应用程序和服务也宣布将支持BSV，其中许多选择只支持BSV而不是ABC。在这个不断增长的列表中包括一些最流行的（前）BCH应用程序，例如HandCash和Centbee钱包、Money Button,、Yours.org和 Keyport TV。赢得CoinGeek 5百万英镑大赛的Tokenized平台也正在将其一流的、业务友好的代币化解决方案推向BSV。
为了支持BSV的进一步发展，用户的稳定性是头等要务。CoinGeek已经与Bitcoin SV开发团队就稳定性措施进行了磋商。Bitcoin SV项目技术总监史蒂夫·施德斯（Steve Shadders）解释道：
“稳定性的一个方面是重放攻击保护。既然ABC并没有将这种稳定性作为首要任务，那么Bitcoin SV将在这方面下功夫，让用户和企业对两条链都有信心。这一变化需要Bitcoin SV团队与比特币生态系统合作，当生态系统准备就绪时，我们就会宣布时间表。”
Now that original Bitcoin is back in the form of Bitcoin SV (BSV) and there is nobody left too object to massively scaling Bitcoin now, what does the future look like? There is going to have to be an adjustment period as BSV and ABC still need to take some measure to permanently split. You can already split the two coins using exchanges like Poloniex and BitAsiaEx, along with various tools, but most people will wait for a protocol level solution which I know is coming. We expect this to happen sometime in Q1 2019 and we are confident that ABC supporters will work together with BSV to get this done peacefully and return stability to the markets.
BSV is the single best value haven in the crypto space during this volatile market. It is a superior technology, head and shoulders above any other chain, and this has been proven when we mined a 64 MB block on the BSV chain last week. No other crypto platform is even close to scaling this much, and this is only the beginning of BSV’s scaling road map. Now that original Bitcoin is back, it will be ALL about scaling to attract enterprise level application development.
BSV is also the only undervalued token now that there is an tokenisation and smart contract platform called Tokenized that works well, is business-friendly and has moved entirely to BSV. This means that BSV can do anything Ethereum does but can also scale for higher volume transactions and is more secure.
My prediction is that over the next few years, BSV will replace all other blockchain technologies that cannot scale, that have security problems or that are not trustless. I believe that starting in 2019, there is going to be an explosion of development on top of the BSV blockchain taking advantage of a stable platform and massively-scaled low cost secure microtransactions. This will eat up all competing chains as this is a “winner take all” race we are in.
But it gets even better for Miners and Mining hardware sales. Scaling gives us low cost microtransactions. Low cost microtransactions enable unique business models that have never existed before and drive transaction volumes and mining fees. This then drives mining revenues and mining hardware sales. This means that the one platform that uniquely drives the mining industry itself is Bitcoin SV BSV, the world’s most scalable cryptocurrency and all miners should be supporting this platform.
Everyone who wants details on how this is going to unfold should come to CoinGeek Week this week in London. Find out more information here. There are going to be some great announcements by thought leaders in this space. I am extremely excited about what we can now do with this technology and hope you all come enjoy the show and celebrate the rebirth of original Bitcoin!
The post The return of original Bitcoin: Bitcoin SV will bring massive scaling and enterprise usage appeared first on Coingeek.
If you haven’t already purchased your tickets to the hottest cryptocurrency conference of the fall, time is almost up. The CoinGeek Week conference is happening this week in London, featuring an all-star cast of crypto and blockchain experts to guide the community into 2019 and beyond.
The conference is one of the most important events for everyone in the crypto space. However, Miner’s Day will undoubtedly be the highlight. The special, invitation-only event was added to the conference in order to give crypto miners the perfect opportunity to learn about the changes seen recently in Bitcoin BCH and to understand what is going on with Bitcoin SV and the future of mining operations.
Miner’s Day will be held tomorrow, November 27. Following it will be three more exciting days of events, information sharing, seminars and workshops that will deliver an experience unlike any other crypto conference. CoinGeek Week is being held at The Mermaid at Puddle Dock in London, an amazing venue that will provide an incredible backdrop for this one-of-a-kind event.
November 28 of the conference is geared specifically for application developers. It will give attendees the opportunity to learn everything they need to know about what is going on with the latest in blockchain technology. November 29 is for application merchants and will provide significant insight on how to get the edge on the competition. Following each day’s activities, there will be a casual meet-and-greet event where attendees can network and forge new business alliances.
The last day of the conference is dedicated to the future—where blockchains and Bitcoin BCH are headed. This is an excellent way to pool together all of the information presented throughout the conference and attendees will walk away knowing that they have an important role in shaping cryptocurrency’s future. Following the activity, those who have attended all four days are invited to a special after party hosted by CoinGeek founder Calvin Ayre, bringing to a close this incredible conference.
Tickets are on sale now, but there are only a few tickets remaining. You can purchase yours today using either Bitcoin BCH on the CoinGeek website or, if you prefer, with a credit card through Eventbrite. Don’t be stuck on the sidelines watching history being made—get in the game and help make it happen.