Why Are There So Many Bitcoin-Related Cryptocurrencies?

It all starts with Bitcoin — , introduced in 2009 by a mysterious developer (or team) known as Satoshi Nakamoto. However, like any open-source project, disagreements emerged as Bitcoin grew.

The biggest point of contention? Scalability.

Some developers believed Bitcoin should remain small and secure, relying on second-layer solutions like the Lightning Network. Others wanted to increase the block size, allowing more transactions to be processed directly on the chain.

These disagreements led to forks: network splits that created Bitcoin Cash (2017) and later Bitcoin SV (2018).

What Is Bitcoin (BTC)?

Bitcoin still dominates the crypto market. With a capped supply of 21 million coins and a massive, decentralized mining network, BTC is widely considered the most secure blockchain in existence.

• Launched: 2009

• Consensus mechanism: Proof of Work (PoW)

• Block size: ~1MB

• Main use case: Store of value (“digital gold”)

• Adoption: Accepted on nearly all exchanges, supported by major institutions

Because of its limited block size, Bitcoin can only handle around seven transactions per second. That’s incredibly low compared to traditional payment systems — but this limit is intentional. The Bitcoin community values decentralization and security over raw speed.

What Is Bitcoin Cash (BCH)?

In 2017, a portion of the Bitcoin community decided that enough was enough. They wanted bigger blocks and cheaper fees, so Bitcoin Cash was born.

BCH increased the block size to 32MB, allowing more transactions per block and significantly lowering transaction costs.

BCH aims to stay closer to the original Bitcoin whitepaper, which focused heavily on day-to-day payments. While it’s not as widely adopted as BTC, it’s supported on different platforms and accepted by a number of merchants worldwide.

• Block size: 32MB (vs 1MB on BTC)

• Lower fees: Ideal for microtransactions and daily purchases

• Faster settlement: More space means less congestion

• Use case: Peer-to-peer electronic cash, especially for small payments

What Is Bitcoin SV (BSV)?

In 2018, split from Bitcoin Cash because its developers believed BCH wasn’t staying true to the original vision either. BSV takes things to the extreme by increasing block sizes far beyond anything seen in other networks.

• Block size: 128MB+ (and theoretically uncapped)

• Focus: On-chain scalability for enterprise applications

• Leadership: Closely associated with Craig Wright, a highly controversial figure who claims to be Satoshi Nakamoto

• Adoption: Limited and niche

BSV has faced criticism over centralization concerns due to its close association with specific entities. However, its proponents argue that it enables powerful use cases like microtransactions, big data storage, and blockchain-based applications.

BTC vs. BCH vs. BSV: How Do They Compare?

Let’s take a closer look at — not just on paper, but in terms of real-world utility, philosophy, and user experience.

Block Size and Scalability

• Bitcoin (BTC): Blocks are limited to ~1 MB. This keeps the network more decentralized and secure, but limits throughput to about seven transactions per second.

• Bitcoin Cash (BCH): Enlarged blocks (32MB) allow significantly more transactions, making BCH faster and cheaper to use during high activity.

• Bitcoin SV (BSV): Blocks can exceed 100MB, enabling massive volumes of transactions and even data storage on-chain. However, this approach raises concerns about centralization and hardware demands for node operators.

Transaction Fees and Speed

• BTC: Fees can spike during network congestion. Using the Lightning Network helps, but it's still in the adoption phase.

• BCH: Transaction costs are generally under a penny, and confirmation times are faster than BTC.

• BSV: Fees are typically extremely low, and the network is built for high-throughput use cases, though it’s often underutilized.

Security and Mining Network

• BTC: Widely considered the most secure by far, thanks to its dominant hashrate and number of nodes.

• BCH and BSV: Share Bitcoin’s mining algorithm (SHA-256), but lower hashrate means they’re likely more vulnerable to 51% attacks.

Adoption and Developer Ecosystem

• BTC: The most widely used, most supported, and most developed.

• BCH: Has a smaller but committed base of users and developers.

• BSV: Adoption is limited. While BSV supports some enterprise projects, it hasn’t gained traction like BTC or BCH.

Community and Philosophy

• BTC: Focused on being a censorship-resistant store of value with minimal protocol changes.

• BCH: Pushes the idea of crypto as everyday cash — keeping things simple, fast, and cheap.

• BSV: Bold vision of a scalable global blockchain for business and applications, but polarizing within the crypto space.
  
  

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Why Did Bitcoin Fork in the First Place?

At the heart of it, the forks came down to one big question: Should Bitcoin prioritize speed and scale, or security and decentralization?

In 2017, BCH supporters said Bitcoin’s small block size made it unusable for daily payments. When the Bitcoin Core developers chose SegWit and second-layer solutions like the Lightning Network, BCH split off to pursue bigger blocks.

Then in 2018, BSV forked from BCH because it still wasn’t  considered big enough, aiming to restore what its creators called Satoshi’s original blueprint.

These splits were fueled by passionate debates — and while they may seem messy, they’re also a testament to the open-source nature of crypto.

Which Bitcoin Is Right for You? 

Choosing between BTC, BCH, and BSV isn’t just about tech specs — it depends on what you want from your crypto experience.

You might prefer bitcoin (BTC) if:

• You’re looking for a long-term store of value that’s trusted globally.

• Security, decentralization, and institutional recognition matter to you.

• You don’t mind higher fees or slower speeds — or you’re using the Lightning Network.

You might consider Bitcoin Cash (BCH) if:

• You want to send or receive small payments with minimal fees.

• You’re into crypto as a practical payment method rather than an investment.

• You prefer simpler tech over layered solutions like Lightning.

You might explore Bitcoin SV (BSV) if:

• You’re curious about on-chain scaling and non-traditional blockchain use cases.

• You’re building enterprise apps that need high transaction throughput.

• You’re okay with being part of a more niche, centralized ecosystem.

Each project reflects a different interpretation of bitcoin’s potential. Whether you’re here to hold, spend, or build — understanding those trade-offs is key.

How To Buy Bitcoin and Bitcoin Cash on Gemini

If you’re looking to learn more about Bitcoin or Bitcoin Cash, Gemini offers a simple solution. We provide a safe and regulated place to buy, sell, and store crypto. Users on Gemini can buy and sell BTC and BCH. BSV is not supported.

Gemini gives you confidence to invest in cryptocurrencies through strong safety, a user-friendly design, and its global reach.

Ready to start your journey? Create your account today.

Frequently Asked Questions

What is the difference between Bitcoin and Bitcoin Cash?

Bitcoin Cash was created to allow faster, cheaper transactions by increasing block size. Bitcoin keeps smaller blocks to prioritize decentralization and security.

Why was Bitcoin SV created?

Bitcoin SV forked from Bitcoin Cash to pursue even larger block sizes and a specific interpretation of Satoshi Nakamoto’s vision for scalability.

Which Bitcoin version has the lowest fees?

Bitcoin SV generally has the lowest fees, followed by Bitcoin Cash. Bitcoin can have higher fees during busy periods.

Is Bitcoin SV more scalable than Bitcoin?

Technically, yes — it allows larger blocks and more data per transaction. But scalability isn’t the only factor, and centralization and adoption are concerns.

The Bottom Line

Even though Bitcoin, Bitcoin Cash, and Bitcoin SV all shared the same blockchain in the past, their journeys have gone in very different directions now. The approaches to speed, fees, governance, and adoption help explain how each network aims to answer the central question: what should bitcoin be?

Bitcoin is regarded as the most dependable and the strongest crypto asset. The goal of Bitcoin Cash is to make transactions as easy as giving and getting cash directly. Scalability is a major feature of Bitcoin SV, but this approach has caused debates among users.

No matter which version you explore, Gemini is here to support your crypto journey. Join today and invest in your future with confidence.