Bitcoin SV – The Original Bitcoin
Rating: Strong Buy
Analysis Method: Wave Theory & Fibonacci
Learn more: Bitcoinsv.io
The Bitcoin SV project begins by restoring what was the original Bitcoin protocol. We embrace the fact that Satoshi used script as a predicate to enable functionalities that go hand in hand, and beyond the function of cash. Re-enabled Satoshi op_codes provide the methods needed for smart contracts, tokenisation and other advanced technical functions to be done on BSV. The original protocol has what Bitcoin needs to thrive, and should be allowed to flourish without constant changes.
Once restored, the Satoshi protocol needs to remain stable. The protocol should be locked down except for any critical security fixes that might be required. This stability will give enterprises of the world confidence to build their applications and projects on top of BSV. Just like the Internet lives on a protocol that has changed very little since its beginning and allows businesses to reliably plan long term projects on the platform, the Bitcoin Cash blockchain will provide the same stability.
The next key pillar is to ignite massive scalability on the BSV blockchain according to future market needs, rather than just viewing current payment transaction volume. Potential demand is a function of supply (among other things) and we intend to provide the capacity for BSV to act as the foundation for the entire financial world and many other industries. Major enterprises want to know the blockchain has sufficient scale for their projects before they commit significant resources and time to build on BSV. Miners needs massive scaling to earn more money from transaction fees in order to offset the block reward halving over time. Therefore, block-size limits need to be many magnitudes bigger than current throughput demand and ultimately allow for unlimited growth.
Currently, BSV and BCHABC are in the middle of a hash war. The main reason for the war is because the BCHABC faction is trying to establish their protocol as number one and to control the protocol itself. In order to achieve this goal, the BCHABC faction admitted to boosting hash and diverting it’s customers hash toward mining BCHABC until BSV dies or become irrelevant.
But, Bitcoin was designed under a rule set that is supposed to govern protocol changes called the Nakamoto Census so this very ‘Hash War’ wouldn’t be a viable reality . The concept gives miners and users who have an economic interest in protocol changes would use their ‘hash’ or mining power to vote for the protocol that was most economically viable. This concept is being tested for the very first time. Let’s see if economic forces prevail as intended.
Postion: Primary Wave 2 is about to end. Primary Wave 3 is about to begin.
Follow Analysis here: https://www.tradingview.com/chart/BCHSVUSDT/XG9wtxjr-BSV-DOMINATING-BREAKOUT-ALERT-PART-3/
– The Humble Watcher
If you support FibMarketWatch.com and would enjoy to see more content please donate.