(REJECTED) Bitcoin Satoshi Vision (BSV) Executes Its First Halving Process - Time For To The Moon?

On April 9, 2020, Bitcoin Satoshi Vision (BSV) executed its first-ever halving process which took place at 01:30 UTC. Bitcoin Satoshi Vision (BSV) was formed after the forking from Bitcoin Cash (BCH) just two years ago in 2018.

The halving for Bitcoin Satoshi Vision (BSV) means the reduction of its rewards to its miners from 12.5 BSV units to 6.25 BSV units. It was the 630,000th block on the BSV network that triggered the halving process.

As of now, the Bitcoin Satoshi Vision (BSV) is trading at a price of $185.96 with a market capitalization of $3.41 Billion, making it the sixth-largest cryptocurrency in the world. Currently, it is 13.18% down over the last 24 hours period.

The BSV halving took place just 1 day after BCH's halving on April 8, 2020, and one month prior to its parent BTC's halving. The total coin supply for all three coins (BTC, BCH, and BSV) is 21 million. After the halving is executed, it is expected that the market value of the coins increases as it adds to the perception of coin's scarcity in the market due to low reward per block.

After the halving has been done for BSV, the current unit output for BSV is 900 units. Given the price at which BSV is trading, i.e. $185, the BSV mining community will compete for $166,500 per day. This value can change as the price of BSV changes in the spot market.

Some History About BTC, BCH and BSV

The reason for the birth of BCH (Bitcoin Cash) is attributed to the disputes in the BTC community which led to its hard fork in the year 2017, splitting it into two coins; Bitcoin (BTC) and Bitcoin Cash (BCH). 

However in the year 2018, due to the internal conflicts within the BCH community, it again went through a hard fork resulting in two coins; BCH (Bitcoin Cash) and Bitcoin Satoshi Vision (BSV).