An official announcement by the bComm Association, founded by self-proclaimed Bitcoin creator Craig Wright, revealed a new logo for Bitcoin SV, the Bitcoin Cash spinoff that was the result of the massive Bitcoin Cash hard fork debacle that took place earlier this year.
Coinciding with the 10th anniversary of the mining of the first block on the Bitcoin network (also known as the ‘genesis block’) The announcement and the new logo are both a part of an effort to rebrand Bitcoin SV as “the rebirth of the original Bitcoin.”
Bitcoin SV’s Effort to Strong-Arm Itself into the Spotlight
Bitcoin SV has been following hard in the footsteps of the original Bitcoin Cash with its attempt to take over as the new Bitcoin, although arguably with a bit less gusto. Shortly after its release, Bitcoin Cash rose to a valuation over $890; Bitcoin SV is currently trading around $90.
This attempted takeover is slightly ironic because of the apparent vitriol between Craig Wright, the leader of the Bitcoin SV movement, and Bitcoin ABC, the team of developers behind the creation of the original Bitcoin Cash.
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In late November, both Wright and Bitcoin ABC proposed their own version of a software update for the Bitcoin Cash network. Wright’s version, which eventually became Bitcoin SV, increased block sizes from 32MB to 128MB, amongst a number of other significant changes. The increased block size vastly increases the Bitcoin SV network’s potential to quickly process transactions, which is supposed to make the Bitcoin SV network function like the Bitcoin network was originally supposed to operate–as a network for everyday transactions rather than an investment opportunity.
“We Can Now Finally Celebrate Bitcoin’s Rebirth,” President of bComm Says
Wright and the bComm Association are now running full speed ahead with their support of Bitcoin SV with extremely bold statements about the network’s future.
Jimmy Nguyen, founding President of bComm Association and a part of nChain, said in an announcement that “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 new BSV logo represents this pivotal moment for Bitcoin to grow up. In the spirit of Satoshi Vision, we are especially thrilled that BSV supporters around the world chose this logo after multiple rounds of online polling in a new paradigm of decentralized marketing,” he continued, urging Bitcoin users to turn to the network and the new logo.
However, Nguyen said that the Bitcoin SV team at nChain wouldn’t go so far as to adopt the Bitcoin SV logo for itself–“the Bitcoin SV Node team at nChain intends to keep its dragon logo for the time being.”