BitBay (BAY) vs Bitcoin SV (BSV) Comparison
BitBay (BAY) and Bitcoin SV (BSV) are both cryptocurrencies that have gained significant popularity in the digital asset market. In this review, we will compare and contrast the features, advantages, and disadvantages of each to help investors make an informed decision.
Overview and Background
BitBay is a decentralized marketplace that enables users to buy and sell goods and services using cryptocurrencies. It was founded in 2014 and has since expanded its services to include a cryptocurrency exchange, wallet, and other features.
Bitcoin SV is a fork of Bitcoin Cash that was created in November 2018. It aims to restore the original vision of Bitcoin as a peer-to-peer electronic cash system by increasing the block size limit and restoring some of the original Bitcoin protocol.
Technology and Features
BitBay utilizes a unique consensus algorithm called Proof-of-Stake-Time (PoST). This algorithm incentivizes users to hold onto their coins for longer periods of time by rewarding them with a higher probability of mining blocks. Additionally, BitBay offers a dual-powered blockchain, allowing for both public and private transactions.
Bitcoin SV, on the other hand, uses the same proof-of-work (PoW) consensus algorithm as Bitcoin, with a block size limit of 128 MB. It also includes some additional features such as pay-to-order transactions and an increase in the default number of opcodes.
Security
BitBay is a decentralized platform, meaning that there is no central point of failure. Transactions are recorded on the blockchain, which is immutable and secure. BitBay also offers two-factor authentication and multisignature wallet options to enhance security.
Bitcoin SV is secured by the same PoW algorithm used by Bitcoin, making it one of the most secure blockchains in existence. Additionally, it offers advanced security features such as replay protection and a limited block size to prevent spam attacks.
Adoption and Community
BitBay has a growing community and has seen significant adoption in Poland, where it is based. However, it still lags behind some of the more established cryptocurrencies in terms of global adoption and community.
Bitcoin SV has a dedicated and active community that supports its vision of restoring the original Bitcoin protocol. It has also seen adoption by some businesses, particularly in the gambling and gaming industries.
Price Performance and Outlook
BitBay has experienced some price volatility over the years, with its highest price reaching over $0.50 in early 2018. However, its price has since decreased significantly and currently sits at around $0.03. The outlook for BitBay is uncertain, with competition from other decentralized marketplaces and exchanges.
Bitcoin SV has had a tumultuous price history, with a high of over $400 in early 2020 before dropping to around $50 by the end of the year. However, its price has since rebounded significantly and currently sits at around $160. The outlook for Bitcoin SV is positive, with its focus on restoring the original Bitcoin protocol and its active community.
Conclusion:
In conclusion, both BitBay and Bitcoin SV have unique features and advantages. BitBay offers a decentralized marketplace with a unique consensus algorithm, while Bitcoin SV aims to restore the original Bitcoin protocol with increased block size limits and additional features. Both have active communities, but Bitcoin SV has seen greater adoption and price performance in recent years. Ultimately, investors should consider their individual needs and priorities when choosing between these two cryptocurrencies.
User rating
Cryptogeek rating
About
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BitBay (BAY) digital currency has been developed since 2014 with the eponymous market place being in operation from 2015. The coin is now listed on a few exchanges. You can purchase BitBay with fiat (hard) currency, such as USD or EUR, using a bank card.
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Bitcoin SV is a Bitcoin Cash hard fork that took place in 2018 as an alternative to Bitcoin Cash ABC. One of the core developers of Bitcoin SV Craig Wright believes that Bitcoin SV is much closer to the initial idea of Bitcoin than Bitcoin Cash ABC. The dev team of Bitcoin SV is focused on fast transactions. Their goal is creating use case opportunities for Bitcoin.
Bitcoin SV survived a series of delistings from several notable cryptocurrency exchanges and managed to keep its high position on the market. Bitcoin SV is one of the top 10 cryptocurrencies by market capitalization and its daily trade volume is similar to its rival Bitcoin Cash ABC.
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Type
Founding Date
Country
|
International
|
International
|
Languages
Team
Protocol
|
No data
|
Public blockchain
|
Current price (USD)
All-time high (USD)
Price change (24h)
Volume (24h)
Hashrate
Max Supply
|
1029153366.00000
|
21000000.00000
|
Total supply
Circulating Supply
Transaction speed / Block time
Transaction fee
Mining profitability
Algorithm
Proof type
Fully premined
Smart contract address
Total coins mined
|
1032709571.09159
|
18461214.58192
|
Is trading
Block reward
|
0.000000000000
|
6.250000000000
|
Block time
Company |
|
|
User rating |
User rating
5 / 5
3 user review
|
User rating
4.4 / 5
9 user review
|
Cryptogeek rating |
Cryptogeek rating
4.4 / 5
|
Cryptogeek rating
3 / 5
|
Trust Score
How it works
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Trust Score
4.43 / 5
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Trust Score
3.74 / 5
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About |
BitBay (BAY) digital currency has been developed since 2014 with the eponymous market place being in operation from 2015. The coin is now listed on a few exchanges. You can purchase BitBay with fiat (hard) currency, such as USD or EUR, using a bank card.
|
Bitcoin SV is a Bitcoin Cash hard fork that took place in 2018 as an alternative to Bitcoin Cash ABC. One of the core developers of Bitcoin SV Craig Wright believes that Bitcoin SV is much closer to the initial idea of Bitcoin than Bitcoin Cash ABC. The dev team of Bitcoin SV is focused on fast transactions. Their goal is creating use case opportunities for Bitcoin.
Bitcoin SV survived a series of delistings from several notable cryptocurrency exchanges and managed to keep its high position on the market. Bitcoin SV is one of the top 10 cryptocurrencies by market capitalization and its daily trade volume is similar to its rival Bitcoin Cash ABC.
|
Type |
Type
coin
|
Type
coin
|
Founding Date |
Founding Date
2014
|
Founding Date
2018
|
Country |
Country
International
|
Country
International
|
Languages |
Languages
No data
|
Languages
No data
|
Team |
Team
Public
|
Team
Public
|
Protocol |
Protocol
No data
|
Protocol
Public blockchain
|
Current price (USD) |
Current price (USD)
0.0102
|
Current price (USD)
45.5105
|
All-time high (USD) |
All-time high (USD)
0.4553
|
All-time high (USD)
441.2000
|
Price change (24h) |
Price change (24h)
-1.38
|
Price change (24h)
-2.55
|
Volume (24h) |
Volume (24h)
0.00000
|
Volume (24h)
5472562.14169
|
Hashrate |
Hashrate
No data
|
Hashrate
2000000000
|
Max Supply |
Max Supply
1029153366.00000
|
Max Supply
21000000.00000
|
Total supply |
Total supply
No data
|
Total supply
No data
|
Circulating Supply |
Circulating Supply
0.00000
|
Circulating Supply
19779465.62500
|
Transaction speed / Block time |
Transaction speed / Block time
No data
|
Transaction speed / Block time
8
|
Transaction fee |
Transaction fee
No data
|
Transaction fee
No data
|
Mining profitability |
Mining profitability
low
|
Mining profitability
low
|
Algorithm |
Algorithm
PoS
|
Algorithm
SHA-256
|
Proof type |
Proof type
PoS
|
Proof type
PoW
|
Fully premined |
Fully premined
No data
|
Fully premined
No data
|
Smart contract address |
Smart contract address
No data
|
Smart contract address
No data
|
Total coins mined |
Total coins mined
1032709571.09159
|
Total coins mined
18461214.58192
|
Is trading |
Is trading
yes
|
Is trading
yes
|
Block reward |
Block reward
0.000000000000
|
Block reward
6.250000000000
|
Block time |
Block time
64
|
Block time
No data
|
Social
Website
Twitter
Advantages
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Advanced and industry-standard trading tools;
Well-regarded trade system
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Fast transactions
Huge potential for scalability
Plenty of utility with tokens, smart contracts, and more
Strong developer support
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Disadvantages
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No fiat currency deposit methods;
Selected offerings are available to only Polish users
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Not listed on several exchanges
Hasn’t realized the full potential
Relatively low volume
|
Rating
User rating |
User rating
5 / 5
3 user review
|
User rating
4.4 / 5
9 user review
|
Cryptogeek rating |
Cryptogeek rating
4.4 / 5
|
Cryptogeek rating
3 / 5
|
Advantages |
Advantages
Advanced and industry-standard trading tools;
Well-regarded trade system
|
Advantages
Fast transactions
Huge potential for scalability
Plenty of utility with tokens, smart contracts, and more
Strong developer support
|
Disadvantages |
Disadvantages
No fiat currency deposit methods;
Selected offerings are available to only Polish users
|
Disadvantages
Not listed on several exchanges
Hasn’t realized the full potential
Relatively low volume
|
BitBay (BAY) user rating is 5, based on 3 user reviews. Bitcoin SV (BSV) user rating is 4.4, based on 9 user reviews.
We also calculate the special Cryptogeek TrustScore based on the characteristics of each coin.
Choose other companies
BitBay (BAY) and Bitcoin SV (BSV) are both cryptocurrencies that have gained significant popularity in the digital asset market. In this review, we will compare and contrast the features, advantages, and disadvantages of each to help investors make an informed decision.
Overview and Background
BitBay is a decentralized marketplace that enables users to buy and sell goods and services using cryptocurrencies. It was founded in 2014 and has since expanded its services to include a cryptocurrency exchange, wallet, and other features.
Bitcoin SV is a fork of Bitcoin Cash that was created in November 2018. It aims to restore the original vision of Bitcoin as a peer-to-peer electronic cash system by increasing the block size limit and restoring some of the original Bitcoin protocol.
Technology and Features
BitBay utilizes a unique consensus algorithm called Proof-of-Stake-Time (PoST). This algorithm incentivizes users to hold onto their coins for longer periods of time by rewarding them with a higher probability of mining blocks. Additionally, BitBay offers a dual-powered blockchain, allowing for both public and private transactions.
Bitcoin SV, on the other hand, uses the same proof-of-work (PoW) consensus algorithm as Bitcoin, with a block size limit of 128 MB. It also includes some additional features such as pay-to-order transactions and an increase in the default number of opcodes.
Security
BitBay is a decentralized platform, meaning that there is no central point of failure. Transactions are recorded on the blockchain, which is immutable and secure. BitBay also offers two-factor authentication and multisignature wallet options to enhance security.
Bitcoin SV is secured by the same PoW algorithm used by Bitcoin, making it one of the most secure blockchains in existence. Additionally, it offers advanced security features such as replay protection and a limited block size to prevent spam attacks.
Adoption and Community
BitBay has a growing community and has seen significant adoption in Poland, where it is based. However, it still lags behind some of the more established cryptocurrencies in terms of global adoption and community.
Bitcoin SV has a dedicated and active community that supports its vision of restoring the original Bitcoin protocol. It has also seen adoption by some businesses, particularly in the gambling and gaming industries.
Price Performance and Outlook
BitBay has experienced some price volatility over the years, with its highest price reaching over $0.50 in early 2018. However, its price has since decreased significantly and currently sits at around $0.03. The outlook for BitBay is uncertain, with competition from other decentralized marketplaces and exchanges.
Bitcoin SV has had a tumultuous price history, with a high of over $400 in early 2020 before dropping to around $50 by the end of the year. However, its price has since rebounded significantly and currently sits at around $160. The outlook for Bitcoin SV is positive, with its focus on restoring the original Bitcoin protocol and its active community.
Conclusion:
In conclusion, both BitBay and Bitcoin SV have unique features and advantages. BitBay offers a decentralized marketplace with a unique consensus algorithm, while Bitcoin SV aims to restore the original Bitcoin protocol with increased block size limits and additional features. Both have active communities, but Bitcoin SV has seen greater adoption and price performance in recent years. Ultimately, investors should consider their individual needs and priorities when choosing between these two cryptocurrencies.