Bitcoin SV halving in
Bitcoin SV Halving - FAQ
Bitcoin SV was created as a result of a hard-fork within the Bitcoin CASH (BCH) Blochcain, which happened on the 15th of November 2018. SV abbreviation stands for "Satoshi Vision" and the BSV cryptocurrency was proclaimed to be the "Original Bitcoin". The developers behind this coin give the following description of BSV "It restores the original Bitcoin protocol, will keep it stable, and allow it to massively scale". The developers intend to maintain the vision set out by Satoshi Nakamoto’s white paper in 2008.
No, they are not the same. All three represent different cryptocurrencies, running on separate protocols and blockchains. They are also traded under different symbols on exchanges: Bitcoin is BTC; Bitcoin Cash is BCH; Bitcoin SV is BSV. Many newcomers of cryptocurrency space confuse that when they buy Bitcoin SV, for example, they automatically get the equivalent amount in Bitcoin or Bitcoin Cash. This is wrong as all three are independent of each other, so buying BSV does not imply you get BTC at the same time. All three cryptocurrencies are also priced differently. The most expensive one is Bitcoin BTC, which is the "original" or the "genuine Bitcoin". BTC has the top-1 market capitalisation, whereas BSV is priced lower.
Halving reduces Block reward every 4 years. Halving of Bitcoin SV is very much identical to Halving of Bitcoin or Bitcoin Cash, as it also marks the finite supply of Bitcoin SV. The maximum circulation supply of Bitcoin SV is 21 million coins. Halving makes it harder to mine new coins and the block reward falls by 50%.
The next Bitcoin SV halving is expected to take place in 2024 at Block 840,000.
Block Reward is the reward miners receive once the next block is mined. To mine a Block, miners need to solve complex mathematical equations using mining equipment. Time interval between each Block mined is approximately 10 minutes and depends on mining hash power. Higher hash power implies that new blocks are mined at a faster pace. Current BSV block reward is 6.25 BSV, in 2024 BSV Block reward will be reduced by 50%, i.e. to 3.125 BSV.
BSV first and only halving event happened on the 10th of April, 2020 since its creation in 2018. Halving happened at Block 630,000. Block Reward was reduced by 50%, from 12.5 BSV to 6.25 BSV.
Halving event can only take place once every 4 years. The community is anticipating that halving will push BSV price higher because block reward will be reduced by 50%, making BSV a deficit asset. Less supply of BSV is also expected to decrease the selling pressure. If the demand for BSV stays the same, then from the basic demand-supply analysis the asset is expected to appreciate in value.
Bitcoin SV price is shown on this page under the block "BSV Price". This is real time BSV price, which is obtained from cryptocurrency markets. BSV is traded 24/7 all year round.