First Came Bitcoin, Then Came Bitcoin Cash and Bitcoin SV

Understanding the difference between Bitcoin, Bitcoin Cash, and Bitcoin SV first requires looking into what hard forks are. They explain how the two latter networks or cryptocurrencies were created from Bitcoin.

Blockchain developers forked Bitcoin to create Bitcoin Cash (BCH) the same way they forked Bitcoin Cash to create Bitcoin SV (Satoshi Vision, BSV). So in a way, it is right to say that BCH and BSV are tweaked versions of BTC.

Hard forks are irreversible or permanent changes that are implemented on a blockchain network. The process makes all previous blocks and transactions invalid or all previous invalid blocks and transactions valid. 

The new upgrades require people to migrate to the new network or remain in the old network, but either way, it creates a permanent divergence that results in two sets of networks.

Bitcoin’s Network Needed Scalability, Affordability, and Transaction Speed

Bitcoin is the first decentralized, open-source, secure digital currency and payment system with limited supply and low transaction fees. According to its whitepaper, Bitcoin was a necessary and revolutionary technology that would solve the many existing liabilities of traditional fiat currencies and transaction methods:

“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.”

Its popularity grew very fast into a worldwide wonder. As more people got on board to mine and transacted with it, developers started to look for new ways to enhance its scalability problem.

Many hard forks have led to significant alterations, and BCH and BSV are not even among the first ten hard forks but are nonetheless among the best-performing ones.

Is Bitcoin Cash the Future of Crypto Cash?

Bitcoin network has undergone multiple hard forks over the years, with developers trying to modify features that would increase transaction speeds and support various expansions on blockchain ecosystems.

Bitcoin Cash is a peer-to-peer Bitcoin hard fork designed to increase the number of transactions per second (TPS) to be processed on its network and become a global decentralized payment system.

On August 1st, 2017, the hard fork took place and features some minor modifications of Bitcoin’s source code. Bitcoin Developers wanted to add some features they were not getting with Bitcoin: a high-volume payment system and lower or affordable transaction fees.

They both have the same hashing rate of SHA256, Proof-of-Work consensus protocol, a maximum supply of 21 million coins, and P2PKH and P2SH addresses.

Bitcoin Cash Rejected Segregated Witness Implements

One of the most significant hard forks was carried out to separate the network from Segregated Witness (SegWit), a soft fork proposed in 2015. SegWit was an implementation on the Bitcoin network aimed at increasing scalability.

The two key features that differentiate Bitcoin Cash from Bitcoin are block size and SegWit. Bitcoin Cash started with a block size of 8mb (which has since been increased to 32MB) while Bitcoin’s block size is 2mb SegWit blocks or 1 Mb legacy blocks.

The increased block size enables miners on their network to process transactions faster and cheaper than they would on Bitcoin. It is alleged that nChain’s CEO Craig Wright, Bitcoin investor Roger Ver, and Bitman’s co-founder Jihan Wu were among the lead developers to push for the Bitcoin Cash hard fork. Moreover, Roger Ver and other BCH supporters are also claiming that Bitcoin Cash is “the real Bitcoin.” 

BCH currently has a market cap of $4.1 billion, a maximum supply of 21 million just like bitcoin, selling at $270.01, and a total circulating supply of 18.3 million BCH.

Minor Upgrades on Bitcoin Cash Fueled the Hardfork That Created Bitcoin SV

Since its launch, a yearlong debate ensued as Bitcoin Cash stakeholders wanted to improve block size parameters. The network implemented a few upgrades, including smart contracts for atomic swaps and interoperable coins. 

The Bitcoin Cash community seemed to resist the changes, and this led to the split, led by nChain’s CEO Craig wright, as a hard fork from BCH on November 15th, 2018. Bitcoin SV pushed its block size to 128MB while bringing back features more similar to Bitcoin, which BCH modified too much with their software upgrade.

Shortly after the split, the hash wars began, with BSV claiming they would sabotage BCH by taking all its hash power since all three versions can use the same mining hardware. The hash wars stopped when BSV split completely, allowing BCH to implement protection on the chain. Today, Bitcoin SV has nearly five times the hash power on BCH.

Bitcoin SV Has More Centralized Features and Corporate Control

The lead developer of BSV, who was also involved with BCH until its split, is self-proclaimed Satoshi Nakamoto, Craig Wright, an Australian computer scientist and entrepreneur. He has proclaimed to be Bitcoin’s sole creator, saying that he owns full rights to its registry.

He added that as much as developers could fork his software and make alternative versions, they still have no right to change the original database’s protocol.

Bitcoin SV (Satoshi Vision) charges 2-3 percent per transaction. This was among the reasons for the hard fork as the developers wanted to minimize transaction costs and provide fast and affordable large scale transactions.

Additionally, BSV’s Paymail protocol enables users to send an email address instead of a BTC wallet address, which is long and cumbersome to write every time.

BSV is #6 on CoinMarketCap market rank, at the price of $197.69, a 24-hour volume of $1.9 billion, a total supply of 21 Million BSV, and a current circulating supply of 18 million BSV. The coin started the year on a high note after achieving its all-time high of $441.20 in January 2020.


Conclusively, both BCH and BSV have, in the past, been in controversial positions with their developers being accused of pump and dump schemes to influence market prices. Most of what goes on cryptocurrency exchanges are outright illegal on the traditional stock market.

Since the crypto space is highly unregulated, and most transactions are anonymous, it gets hard to prove and prosecute criminal and market manipulation activities.

Despite their success, both versions are still far away from gaining massive support as the original Bitcoin. However, since they can be mined using the same gear, miners on the network participate interchangeably depending on which coin is having a good day, for better rewards.

Bitcoin live price
price change

Read also our guide to understanding The Real Bitcoin – BTC.

Stay up to date with our latest articles

More posts

Why Do the Cryptocurrency Prices Go Down on the Weekends?

If you have been in the crypto world for a while, you will probably have noticed a typical behaviour of the market during weekends. With some exceptions, we are used to seeing the price of significant cryptocurrencies drop over the weekend. The phenomenon is known to those who operate in this market, but understanding precisely the causes seems to be rather complex. Therefore, this article will discuss a definitive answer by analyzing the various main factors involved in this market…

How to Track and Stay Updated with Cryptocurrency News

Cryptocurrency is a young market and, as such, very fast-moving. If we exclude the phenomenon of stablecoins, the prices of cryptocurrencies change continuously, with sometimes very high volatility. Since a volatile investment is, by definition, a risky operation, traders usually look for ways to reduce the possibility of incurring significant money losses. In this context, it is vital to stay up to date with market events, even if this can be complex. As seen in the past, a single tweet…

Keeping Consensus: Explaining Ethereum’s Difficulty Bomb

Ethereum’s difficulty bomb is a tool for maintaining network consensus between all classes of participants. This is a challenging task for Ethereum compared to Bitcoin, which performs frequent backwards-incompatible hard-forks. The most significant of these – Ethereum 2.0 – is yet to come. When it does, the difficulty bomb will be crucial in ensuring the community’s smooth transition to the new protocol. Review: Ethereum 2.0 and Proof Of Stake To understand the necessity of the bomb, we must review some…

What Are the US SEC Cryptocurrency Regulations?

The United States Securities and Exchange Commission (or, simply, SEC) regulates the financial security market at a federal level. Among the many topics that have caught the interest of the SEC, one cannot forget to mention the crypto and blockchain markets. The existing SEC crypto regulations target several common aspects of this new industry, which is why no investor can allow ignoring these regulations. Therefore, while the world waits for a global policy on the sector, our article will deal with…

SAFT Agreements – What Are They and How Do They Work

There exist many ways to invest in the crypto market, and while some may appear straightforward, a few alternatives are purposely designed to attract professional investors. One may mention the so-called Simple Agreement for Future Tokens (or SAFTs) among the latter category. By joining a SAFT, investors can put their money into a crypto start-up, converting a stake into future equity. This article will review the topic, and we remind you to keep in mind that investing is a risky…

Top 5 Smart Contract Auditing Companies

Deploying a smart contract on the blockchain without auditing can quickly spell "suicide" for most projects. Nowadays, hackers are constantly looking for potential code errors and vulnerabilities. Furthermore, most users have the necessary experience to know they cannot trust unaudited DeFi and crypto protocols. Fortunately, no project has to launch unaudited, especially with the abundance of professional auditors in the industry. These experts can check smart contracts in-depth, detect errors or vulnerabilities, and suggest fixes. Simply put, they increase a…

Trading in the Forex and Crypto Sectors – A Critical Comparison

Trading currencies has always been one of the most popular niches in the complex financial universe. History books date the birth of the Forex market back to the late 17th century in the city of Amsterdam. The modern Forex market is a direct descendant of past trading, with a popularity that, over the years, has also involved small investors. The last few years have been characterized by the birth and rise of cryptocurrencies to create a new pole in the…

What You Need to Look For in a Crypto Broker

Traders are very fond of investing in cryptocurrencies, as the market has shown in recent years. However, often those who approach this world do not have a high level of investment experience, and, for this reason, it is necessary to pay attention to the choice of the trading method. There are several ways to trade cryptocurrencies, from specialized exchanges to financial brokers. Today's article will discuss the latter category, highlighting the main factors that one needs to observe to choose…

Metaverse Games You Need To Know About

NFTs are a rapidly growing industry. However, it's still arguably in its infancy. Namely, the entire market cap of all NFTs is still just $7 billion. That's why many NFT investors are looking for catalysts, something that can boost the industry. Many are betting that video games will be that catalyst. Specifically, metaverse games! NFTs and video games are a match made in heaven. For one, gaming is a vast industry - about $175 billion. Just the in-game items are…

What Is the Metaverse and How Does it Work?

Metaverse was one of the trendiest terms in 2021, especially after Facebook rebranded itself as “Meta.” As the New Year unfolds, we can expect the buzz around it to expand and take the world by storm. Nevertheless, the idea of Metaverse is still a little cloudy for many. So we are here to decode it for you. Metaverse and the Buzz Metaverse Group, an NFT-based metaverse real estate company, recently purchased a parcel of virtual land for $2.43 million. Suddenly,…