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Bitcoin SV rises: BSV up following news of ‘Reddit-killer’ Boardz

By Darius McQuaid

Edited by Charlie Mellor

17:32, 16 December 2022

Two golden bitcoins drop into a tank of water
Boardz has announced early users who get “involved quickly” with the platform will be rewarded – Photo: Getty Images

The price of bitcoin sv (BSV) was up today (16 December) following the launch of a new global discussion forum Boardz, which is powered by BSV and has already been touted as a “Reddit killer”.

Boardz user, eyeone was the first to float the idea that the new platform could usurp US social news aggregator and discussion website Reddit. “I like how slick and fats the page is,” posted eyeone under the heading “Is this a Reddit killer?”

As of 17:32 GMT on 16 December, BSV was trading at $48.35, up by 2.34% compared with the previous day, according to CoinMarketCap. BSV was also up by 10.31% compared with seven days ago.

BSV to USD

The Boardz platform, which has described itself as a place where “people can discuss things under different topics and monetise their content”, had previously announced early adopters would be rewarded through a Boardz BSV wallet. “We just topped-up our BSV wallet to tip you,” tweeted Boardz.

To earn the tips, all users had to do was connect a HandCash wallet to enable payment features and then post content onto Boardz to receive a share of the Boardz Rewardz programme.

However, Boardz is trying to paint itself as an app that everyone can use as it stated “it’s not an app for bitcoin users by bitcoin users. It’s for everyone.” It added:

ETH/USD

3,421.22 Price
-0.640% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

BCH/USD

380.60 Price
-2.030% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50

BTC/USD

64,619.75 Price
-0.210% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

XRP/USD

0.62 Price
+5.960% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168
“The aim is creating a global forum where authors have the option of monetizing their contributions by getting donations and direct payments through paywalls.”

Boardz said plans for the future included enabling paywalls, integrating non-fungible token (NFT) profile pictures and opening Boardz to other languages.

BSV is a fork of a fork

BSV came about following a hard fork of the bitcoin cash (BCH) blockchain in 2018, which had originally forked from bitcoin (BTC) a year earlier.

According to CoinMarketCap: “The goal of BSV is to fulfil the original vision of the BTC protocol and design as described in Satoshi Nakamoto’s white paper, early BTC client software and known Satoshi writings.

“BSV aims to offer scalability and stability in line with the original description of BTC as a peer-to-peer electronic cash system, as well as deliver a distributed data network that can support enterprise-level advanced blockchain applications.”

CoinMarketCap added that the “BSV network is unique” due to its “capacity for unbounded on-chain scaling” while at the same time being the most aligned with the original design of BTC than any other blockchain

Markets in this article

BCH/USD
Bitcoin Cash / USD
380.60 USD
-7.85 -2.030%
BTC/USD
Bitcoin / USD
64619.75 USD
-135.9 -0.210%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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