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  • Bitcoin SV gained over 70% in 24 hours before retreating to $110
  • Craig Wright published a roadmap for the project.

Bitcoin SV, a newly born coin forked from Bitcoin Cash network on November 15, has jumped from the bottom of the list to the 7th place in the rating of the global cryptocurrencies with total capitalization $1.9B and average daily trading volumes over $500M.

The positive momentum started to build up after the Bitcoin SV team gave up claims on the original Bitcoin Cash chain and focused on its own applications and developments. By sending a clear signal that the “Hash Wars” may be over, the team sends Bitcoin SV soaring. The coin gained over 70% in 24 hours and shortly broke above $120. Currently, Bitcoin SV is changing hands at $110.8, comparable with ETH and its closest rival Bitcoin ABC (now Bitcoin Cash).  

On Sunday, Bitcoin SV architect Craig Wright published a roadmap and his vision for the project, which looks quite ambitious.  

“Bitcoin as SV will have miners earning over $8,000 a block based on use alone. That equates to $640 a bitcoin on exchanges, and we have not factored in the gambling price of bitcoin, just what miners will earn as a service,’ he wrote, explaining the scheme of remunerating miners for their input.

According to Wright, in 2-3 years, Bitcoin SV will scale to 1Tb and continue growing with throughput capacity over 6,5 million transactions per second, which is sixfold from Visa, MasterCard, SWIFT and all global currencies, both fiat and digital, combined. In this case, miners’ remuneration will increase to $600 000 per block.

These plans might sound too ambitious and unrealistic, but they do support Bitcoin SV price, at least in the short-term.