Named Satoshi's Vision.
It forks off from Bitcoin Cash BCH and is business controled.
BTCSV?
With the one and only original Bitcoin Cash, BCH, developer being set aside already, the company nChain, of mister C. Wright, has taken over full central control. With the financial sponsering of BCH mining pool, CoinGeek, fully supporting the concept of a business controlled version of Bitcoin. It is a bit ironic, to state the least, I think, that what the original Bitcoin, BTC, developement team has been, wrongly, accussed of nChain and CoinGeek are actually doing themselves...!?
Well, to me this is just something that BCH has been all along, the business controled version of Bitcoin. And now the combined power of CoinGeek and nChain have announced their planned mutiny. Are you confused? Okay, there is the original Bitcoin, BTC, innovating and still most valuable, mined at 50(!) Exahashes per second.
Then came the gamble business blockchain splitting fork that named itself Bitcoin Cash, BCH. Currently mined at 3.8 Exahashes per second. And this is correlating to the price relation between BTC and BCH. A lot of different blockchain splitting forks followed, easy money drained out off the original Bitcoin, BTC, value. And recently also BCH got seriously forked off in a spliting blockchain called Bitcoin Core, BTCC.
Rollbacks and huge blocks
The full control business take over of Bitcoin Cash, BCH, will happen in november 2018. And the so called Satoshi's Vision will have some code removed, some changed and new things added. Most of it is too technical to get into. But the max blocksize will also be raised to 128 MegaByte blocks. While nChain was already working on the TeraByte {TB}, yes not GigaByte {GB}, blocksize version of their Bitcoin fork.
The TB version is aimed at the financial business industry. And the BTCSV {BiTCoin Satoshi's Vision} developement sponsor, ChainGeek, wants to lockdown the Bitcoin protocol, for business reasons. How about that for a hostile take over...!? This, to me, stinks like an attempt to privatize Bitcoin, lock it into a centrally controlled business model. Glad there is still Bitcoin, BTC, and many other Cryptos that are truly open, free and decentralized, remain so.
It was to be expected
Yes, I was laughing when I saw the nChain and ChainGeek announcements. It was already clear to me that this was the business take over model vision mister Andressen, a former well known Bitcoin developer, was trying to get going. And it had to go fast, get the banks in and the goverments. Not an alternative system to break the banking monopoly, liberate humanity from debt-slavery. Because Cryptos, like Bitcoin, if decentralized enough, could make that happen...
Then mister Ver and mister Wright joined forces with the Chinese company of Bitmain as a sponsor, to create the business version of Bitcoin, BTC. It was a gamble, but that being mister Ver his business, he took a bet on a blockchain splitting fork, called Bitcoin Cash, BCH. It might be one bridge too far though as it seems mister Wright had his own agenda from the start.
Will the value of BCH now split for a part into BTCSV? End of 2018 we will see how this developes itself further. It could be that mister Ver and Bitmain keep supporting BCH, while mister Wright and CoinGeek fork off. One way or another this will give many BCH HODLrs a run for their cash. Some will wait until the actuall split, so they get BTCSV too and then start the huge dump. Bad news for Bitmain, but it seems they already found a new way to get some fresh cash flowing in...
May the Cryptos be with us!
Oh no, not more Bitcoin clones!
Image CC0 licensed
UPDATE 1
Links to the pages about Bitcoin SV.
nChain about the launch:
https://nchain.com/en/blog/bitcoin-sv-launch/
CoinGeek about their sponsoring and support:
https://coingeek.com/statement-calvin-ayre-coingeek-bitcoin-protocol/