Crypto Gloss

Bitcoin SV

Bitcoin SV (BSV) is a proof-of-work cryptocurrency created on November 15, 2018, as a hard fork of Bitcoin Cash (BCH), itself a 2017 fork of Bitcoin. BSV’s proponents — principally Australian computer scientist Craig Wright and Canadian billionaire Calvin Ayre — argued that the original Bitcoin protocol as described in Satoshi Nakamoto’s 2008 whitepaper should be restored and “set in stone,” with on-chain scaling to unlimited block sizes as the primary scaling solution. BSV shares Bitcoin’s 21 million maximum supply and SHA-256 mining algorithm.

via ChangeNow · T&CsPrice data from CoinGecko as of 2026-04-16. Not financial advice.

How It Works

  1. SHA-256 PoW — BSV uses the same SHA-256 proof-of-work algorithm as Bitcoin and Bitcoin Cash. ASIC miners from the Bitcoin ecosystem can mine BSV.
  2. Large blocks — BSV’s central design philosophy is on-chain scaling through enormous block sizes. Blocks have reached multi-gigabyte sizes, with no hardcoded cap in the current protocol. This requires high-bandwidth, enterprise-grade node infrastructure.
  3. Restored original opcodes — BSV restored Bitcoin Script opcodes that were disabled in early Bitcoin development, enabling more expressive transaction scripts and data-anchoring use cases.
  4. OP_RETURN data — BSV is heavily used to store arbitrary data (text, hashes, files) on-chain via OP_RETURN outputs, a use case promoted by the BSV ecosystem for “blockchain as a global ledger.”
  5. Mandala upgrade / Genesis upgrade — Multiple protocol upgrades further removing protocol limits; Genesis (2020) removed the default transaction script limits.
  6. Replay protection — BSV implemented replay protection at the November 2018 split to prevent cross-chain replay attacks.

Tokenomics

Parameter Value
Ticker BSV
Max Supply 21,000,000 (21 million)
Consensus SHA-256 PoW
Launch November 15, 2018 (BCH hard fork)
Block time ~10 minutes
Halving Every 210,000 blocks (~4 years)
Block size Unbounded (multi-GB blocks observed)

Use Cases

  • On-chain data anchor — Store file hashes, records, or data directly in OP_RETURN transactions.
  • Micropayments — BSV proponents cite its low fees and high throughput for payment channels and micropayment applications.
  • Enterprise blockchain — Promoted for enterprise use cases requiring data immutability (supply chain, identity, record-keeping).
  • Mining — SHA-256 ASIC mining for BSV block rewards.

History

  • 2018-11-15 — The “Hash War”: BCH splits into two chains when Bitcoin ABC (later renamed to BCHN) and Bitcoin SV fail to reach consensus on the November BCH upgrade. Craig Wright’s team and nChain back BSV; Roger Ver and Bitmain back BCH (ABC). BSV is created as a separate chain with a genesis block of BCH.
  • 2018 — Both sides claim the BCH “brand.” Major exchanges (Coinbase, Kraken) temporarily suspend BCH and BCH trading during the fork uncertainty. BSV is listed as a separate asset.
  • 2019-04 — Craig Wright files copyright registrations for the Bitcoin whitepaper and early Bitcoin code with the US Copyright Office, claiming to be Satoshi Nakamoto. Crypto community broadly rejects this claim. Binance, Kraken, and ShapeShift delist BSV in response to Craig Wright’s behavior and legal threats. CZ (Binance CEO) cites threats against critics as reason to delist.
  • 2019 — BSV suffers 51% attacks and chain reorganizations.
  • 2020-02 — Genesis upgrade removes BSV’s default script limits, enabling unbounded script sizes and OP codes.
  • 2021 — BSV peaks at approximately $490 during the bull market.
  • 2021 — UK High Court case: Craig Wright v Peter McCormack. Wright sues numerous critics for defamation claiming to be Satoshi. Legal proceedings span multiple countries.
  • 2024-03 — UK High Court ruling in COPA v Craig Wright: Judge James Mellor rules that Craig Wright is NOT Satoshi Nakamoto, has “lied extensively and brazenly” and committed fraud and forgery regarding his identity claim. BSV price drops significantly on the ruling.

Common Misconceptions

“BSV is the real Bitcoin.”

BSV proponents claim this, but it is universally rejected by the broader cryptocurrency community, Bitcoin Core developers, and legal courts. The majority of economic activity, hashrate, and technical development follows the original Bitcoin chain (BTC). The UK High Court in 2024 specifically found that Craig Wright’s Satoshi claims were fraudulent.

“Unlimited blocks solve scaling.”

Critics argue that extremely large blocks centralize the network by requiring resource-rich nodes and cannot run on consumer hardware, undermining decentralization. The Bitcoin scalability debate remains unresolved philosophically, but BTC’s Lightning Network and off-chain scaling represent the dominant market approach.

Social Media Sentiment

BSV has a small but dedicated community, primarily organized around Craig Wright and nChain’s narrative of the “original Bitcoin.” The broader crypto community ranges from skeptical to openly hostile, particularly after the COPA lawsuit ruling. Most major exchanges (Binance, Coinbase, Kraken, etc.) delisted BSV at various points. It remains listed on some exchanges. The 2024 court ruling was widely covered and broadly viewed as definitive rejection of Wright’s Satoshi claim.

Last updated: 2026-04

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