Bitcoin SV (BSV) is a cryptocurrency that was created in 2018 as a result of a hard fork from Bitcoin Cash (BCH). It was created by Craig Wright, who claims to be the real Satoshi Nakamoto, the mysterious creator of Bitcoin. BSV is designed to be a faster, cheaper, and more scalable version of Bitcoin, with a larger block size limit of 128 MB. Despite controversy surrounding its creator and skepticism from some in the cryptocurrency community, BSV has gained a loyal following of traders and investors.
So, who trades Bitcoin SV?
1. Speculators
Like with most cryptocurrencies, a significant portion of BSV trading is done by speculators looking to profit from price movements. These traders buy BSV when they believe its value will increase and sell when they believe its value will decrease. This type of trading is often done on exchanges that offer margin trading, allowing traders to borrow funds to amplify their positions.
2. Investors
Some traders see BSV as a long-term investment opportunity. They believe in the technology and its potential to disrupt industries and change the way we conduct transactions. These investors buy BSV with the intention of holding it for an extended period of time, hoping that it will increase in value over time.
3. Miners
Miners are another group of people who trade BSV. They are responsible for verifying transactions on the BSV blockchain and are rewarded with newly created BSV coins. Miners can also earn transaction fees for including transactions in the blocks they mine. As such, miners often hold onto their BSV rewards as a long-term investment.
4. Merchants
Merchants are businesses that accept BSV as a form of payment for goods and services. These merchants may also hold onto the BSV they receive as payment or sell it on exchanges for fiat currency. Merchants who believe in the long-term potential of BSV may also choose to hold onto the coins as a long-term investment.
5. Developers
Developers are another group of people who trade BSV. They are responsible for building applications and services on top of the BSV blockchain. These developers may hold BSV as a way to fund their projects or as a long-term investment in the technology they are building on top of.
In conclusion, Bitcoin SV is traded by a diverse group of people, including speculators, investors, miners, merchants, and developers. While there is controversy surrounding its creator and skepticism from some in the cryptocurrency community, BSV has gained a loyal following of traders and investors who believe in its potential as a faster, cheaper, and more scalable version of Bitcoin.