The Bitcoin SV (Satoshi Vision) altcoin is in the latest digital currency news for unveiling its new identity with a logo on the 10th birthday of Bitcoin. Not surprisingly for many, the new logo for Bitcoin SV (BSV) looks suspiciously similar to the one of Bitcoin which is the original cryptocurrency.
The pro-BSV bComm Association proudly shared the announcement in an official statement which read:
“The BSV logo is revealed on the 10th anniversary of the Bitcoin genesis block, to mark Bitcoin SV as rebirth of the original Bitcoin.”
NChain’s Jimmy Nguyen who is the president of the bComm Association said that the BSV logo was selected after conducting three Twitter polls. As he said:
“After too many years of wasteful diversions from the Satoshi Vision, we can now finally celebrate Bitcoin’s rebirth – unchained from experimental whims of developer teams who veered away from Satoshi’s original plan.”
The logo was promptly mocked by many on social media, and some called it a “cheap imitation knockoff” of the original Bitcoin.
According to some users, however, the new logo looks a lot like Bitcoin and some even said that it is “identical” to Bitcoin’s.
Some Bitcoin SV (BSV) proponents including Calvin Ayre think that Bitcoin SV “is the real Bitcoin” where the original cryptocurrency (which was established before Bitcoin SV) is an impostor.
New Bitcoin SV Headquarters Revealed In The Caribbean By Calvin Ayre
“[I] fully endorse the government’s policy of seeking to transition from the use of fossil fuels to green energy. This magnificent complex is a symbol of this commitment to a pollution-free Antigua.”it is a little strange why Ayre made the island of Antigua his headquarters since the nation has long offered favorable legislation for online gambling companies and Ayre had his business interests there for many years. However, it is not clear how Bitcoin SV fits into the story. Ayre described the headquarters as the ‘’new home of Original Bitcoin, BSV, in that part of the world.’’
50 Percent Of All Bitcoin SV (BSV) Is Never Moved: Report
"Around 50% of all $BSV mined is never moved. Hoarded by miners who can't sell as it would collapse the price due to lack of any organic demand. How long can they sustain this for?," he wrote.https://twitter.com/alistairmilne/status/1195011811843686401Meanwhile, we can see that Bitcoin SV has a flair for such price moves. While the current value of the cryptocurrency is stable, it bleed throughout the whole delisting debacle and suddenly pumped by 90% on May 21 on the news that the self-proclaimed Satoshi Craig Wright was recognized as the author of the Bitcoin white paper by the US Copyright office.Still, Milne's comments about 50 percent of all Bitcoin SV (BSV) never been moved spread like wildfire in the latest cryptocurrency news and are seen as a possible indicator of a weak momentum for the price of the altcoin.After such "organic" growth like the one the coin demonstrated this summer, Bitcoin SV remains a tickling bomb which might blow in the face of its investors any minute now. However, what's visible is that the coin does not have a use case.Back in June, for instance, news showed that a single weather app is responsible for 98% of all the BSV transactions. One thing is certain at this point - if 50 percent of the total BSV supply is never moved and if all indicators are a lie, we could see the balloon popping very soon and the price of Bitcoin SV (BSV) going lower than our expectations.
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