Bitcoin SV
Crypto Overview
Purpose and Intended Use
Bitcoin SV (BSV) emerged from a Bitcoin Cash hard fork in 2018, with 'SV' standing for 'Satoshi Vision'. The project claims to fulfill the original vision of Bitcoin's creator by restoring the original Bitcoin protocol, maintaining stability, and enabling massive on-chain scaling. BSV aims to be used as both a peer-to-peer electronic cash system and a global blockchain for enterprise applications.
Business Model Evaluation
The business model focuses on providing a scalable blockchain platform for legitimate business applications. The protocol itself doesn't involve inherently prohibited activities like interest-bearing products or gambling. The primary functions - payment processing and data storage - align with Islamic principles of fair trade and transparency.
Real-World Adoption and Usage
BSV has seen adoption primarily in enterprise blockchain applications and data storage solutions. Notable applications include weather data recording, supply chain tracking, and digital identity management. The network processes transactions and stores data on-chain, demonstrating actual utility beyond speculation.
Platform Development Activity
The Bitcoin Association for BSV actively maintains and develops the protocol. There is ongoing technical development, though controversy surrounding certain key figures has impacted broader community engagement. The platform continues to release technical updates and maintains its core functionality.
Token Distribution and Founder Involvement
BSV was distributed through the Bitcoin Cash hard fork, meaning all Bitcoin Cash holders at the time received an equal amount of BSV. This distribution method was inherently fair to existing holders. However, there have been concerns about centralization of influence within the ecosystem.
Crypto Impact
To assign a comfort level investing in Bitcoin SV from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Bitcoin SV.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.