If you're reading this, I'm earning money in some way. I was compensated with money and/or product. Thanks for helping to feed my family. I also may have a financial interest in companies named. Please see our disclosure for more information. Also, any advice provided is for informational purposes only. I'm not an accountant, lawyer, doctor, fitness expert, or nutrition specialist. So, talk to a professional before acting on anything you read, watch, or listen to below. Get your own advice and do your own research. Email me at [email protected] with questions.
The new-age currency, Bitcoin, and its predecessors including the advent of blockchain technology have the potential to transform the way we deliberate about currency, transactions, and online distinctiveness.
Back in 2009 when an anonymous individual under the name ‘Satoshi Nakamoto’ published the first proof of transaction using digital currency, the world was turned upside down. Here began the idea of Bitcoin technology and has been around and growing stronger every month, since then.
After this another form of currency was derived, smaller in size and less volatile than digital cash version; this was the Bitcoin Satoshi’s Vision (BSV) which was invented more recently in 2018. Although both their monetary policies may be similar there are many differences between these 2 forms of digital currency available to the public. Click here to find out more.
Just like how the printing press prints books, the block technology prints these coins. This type of transaction helps with peer-to-peer exchanges and does not use the interference of any governing body such as a bank. After the anonymous creator left the idea behind, a bunch of developers took over and placed the open-source code for it online for everyone to access.
Related to Bitcoin Satoshi Vision: Bitcoin – The Evolution of Technology Stack
It is now public property that can be modified. The reason this solution was created was because of the crash of the economy in 2008 and has proven to be quite useful for many, especially big businesses and individuals alike. Many multi-billion-dollar corporations have invested in this concept and bought millions of these digital coins, and left them to sit and grow to exorbitant levels.
It allows online payments to be sent from one person to the other or one account to another, and you can buy it, sell it and shop with it now.
BSV or Bitcoin Satoshi Vision is different from the typical example that we all know – Bitcoin Cash, and this article can tell you more: https://www.investopedia.com/tech/bitcoin-vs-bitcoin-cash-whats-difference/ the difference between BSV and the Cash option is the size of transactions each one can handle. BSV is smaller in comparison to BCH, 7MB smaller. The cash version can handle multiple transactions per day, while SV cannot.
When exchanging BSV the process is much slower than when exchanging cash, however, the ROI (return of investment) is better. Having bigger block sizes isn’t always a good idea, and there have been concerns recently about that, especially regarding security.
Also, the market cap for BCH is 97% lower. This means the coin is yet to gain popularity and acceptance in the bigger currency markets. According to data, it shows that transacting the digital currency, is almost 10,000 times more expensive than BSV, which is a major deciding factor for many around the financial world.
When the need for a BSV exchange arises, it is always best to check the numbers, at the moment of publishing this article the price for one BSV was worth $180 while the cash version was worth $ 9,200, in other words, it would cost give or take 50 Satoshi Visions to get just one bitcoin.
As you can see there are many advantages to buying BSV over cash. Let’s run through them.
Why You Should Surround Yourself With The Right People
Want to Start a New Business? 7 Factors you Should Consider
Are You Ready To Purchase A New Car? Here’s What You Need To Do
Online Banking 2021 – What and What Not to Expect
Are You Financially Literate? Here’s How To Tell
3 Tips For Retirement Investors
Financial Investments: Dos and Don’ts You Need To Know
4 Best Ways To Get Money Quickly