With thousands of digital assets available today, it's easy to get confused by similar names and ticker symbols. Among the most commonly mixed-up cryptocurrencies are Bitcoin Cash (BCH), Bitcoin SV (BSV), and Bitcoin Diamond (BCD)—all of which originated from Bitcoin. This guide breaks down each of these major Bitcoin hard forks, their histories, key features, and how they differ from the original Bitcoin.
What Are Bitcoin Hard Forks?
A hard fork occurs when a blockchain splits into two separate chains due to a fundamental change in the protocol. This often happens when a community disagrees on upgrades or the future direction of a project. In Bitcoin’s case, several groups have created their own versions of Bitcoin with modified rules and features.
These forks usually result in a new cryptocurrency, and holders of the original asset often receive new coins from the forked chain.
Bitcoin (BTC): The Original Cryptocurrency
Bitcoin (BTC) was launched in 2009 and remains the most valuable and widely recognized cryptocurrency. It introduced the world to blockchain technology and decentralized digital money. With a market dominance often exceeding 60%, Bitcoin is considered the gold standard of crypto.
- Launch Year: 2009
- Key Feature: Decentralized peer-to-peer electronic cash
- Block Size: 1MB (later expanded with SegWit and Layer-2 solutions)
- Legacy: Inspired thousands of alternative cryptocurrencies and hard forks
Bitcoin Cash (BCH): The Scalability Fork
Bitcoin Cash was created in August 2017 to address Bitcoin’s scalability challenges. The primary change was an increase in block size, allowing more transactions per block.
- Launch Date: August 2017
- Key Change: Block size increased from 1MB to 8MB (later increased further)
- Goal: To become a fast, low-fee electronic cash system
- History: BCH saw significant price growth during the 2017 bull market but has since declined from its all-time high
Bitcoin Cash itself underwent a hard fork in 2018, leading to the creation of Bitcoin SV.
Bitcoin SV (BSV): The “Satoshi Vision” Fork
Bitcoin SV emerged from a hard fork of Bitcoin Cash in November 2018. It claims to restore what its supporters call the original Bitcoin protocol as envisioned by Satoshi Nakamoto.
- Full Name: Bitcoin Satoshi Vision
- Launch Date: November 2018
- Key Feature: Massive 128MB block size to enable enterprise-scale applications
- Notable Event: Saw a dramatic price surge in early 2020, briefly energizing the market
BSV maintains that larger blocks are essential for Bitcoin to grow into a global payment system and data network.
Bitcoin Diamond (BCD): The Privacy-Oriented Fork
Bitcoin Diamond was created in 2017 with a focus on transaction privacy and lower barrier to entry.
- Launch Date: 2017
Key Features:
- 10x larger supply than Bitcoin (210 million BCD)
- Optional transaction privacy features
- 8MB block size
- Distribution: 81% of BCD was distributed to Bitcoin holders (1 BTC = 10 BCD)
Despite its features, BCD has struggled to gain significant adoption or market relevance.
Bitcoin Gold (BTG): The Mining Decentralization Fork
Bitcoin Gold was another 2017 fork aimed at making mining more accessible.
- Launch Date: 2017
- Key Feature: Changed mining algorithm to be ASIC-resistant, allowing GPU mining
- Goal: To decentralize mining power away from specialized mining farms
- Market Performance: Like other forks, it has declined significantly from its peak
Comparison Table: Bitcoin and Its Major Forks
| Cryptocurrency | Symbol | Launch Year | Block Size | Key Feature |
|---|---|---|---|---|
| Bitcoin | BTC | 2009 | 1MB (base) | Original decentralized digital gold |
| Bitcoin Cash | BCH | 2017 | 32MB | Larger blocks for payments |
| Bitcoin SV | BSV | 2018 | 128MB | Massive blocks for enterprise use |
| Bitcoin Diamond | BCD | 2017 | 8MB | Privacy features & larger supply |
| Bitcoin Gold | BTG | 2017 | 1MB | ASIC-resistant mining |
Why So Many Bitcoin Forks Exist
The proliferation of Bitcoin forks stems from differing opinions on how Bitcoin should evolve. Key areas of disagreement include:
- Scalability solutions: Whether to increase block size or use layer-2 solutions
- Mining decentralization: How to prevent mining centralization
- Protocol changes: Which features to add or modify
- Governance: Who should decide Bitcoin's future direction
Each fork represents a different philosophy about what digital money should be.
Investment Considerations for Bitcoin Forks
When evaluating Bitcoin forks, consider these factors:
- Development activity: Is the project actively maintained?
- Community support: Does it have a strong user and developer base?
- Market liquidity: Can you easily buy and sell the asset?
- Use cases: Does it solve real problems or offer unique features?
- Exchange support: Is it listed on major exchanges?
Remember that most forks have underperformed Bitcoin significantly over time.
👉 Explore detailed cryptocurrency comparison tools
Frequently Asked Questions
What is the difference between a hard fork and a soft fork?
A hard fork creates a permanent divergence from the previous blockchain, requiring all nodes to upgrade. A soft fork is backward-compatible, meaning non-upgraded nodes can still validate transactions.
Do I automatically receive forked coins if I hold Bitcoin?
It depends on the specific fork and where you store your Bitcoin. Generally, if you control private keys during a fork, you can claim forked coins. However, the process varies by fork and may require technical steps.
Which Bitcoin fork has been most successful?
Bitcoin Cash has generally maintained the highest market capitalization among Bitcoin forks, though all have significantly underperformed Bitcoin itself.
Are Bitcoin forks considered safe investments?
Like all cryptocurrencies, Bitcoin forks carry significant risk. Many have failed or lost substantial value. Always research thoroughly and understand that past performance doesn't guarantee future results.
Why do some Bitcoin forks have larger supplies?
Some forks increased total supply to make individual coins cheaper or to distribute more coins to existing Bitcoin holders. This doesn't necessarily increase total value—market capitalization is more important than unit count.
Can Bitcoin undergo more forks in the future?
Yes, as long as there are disagreements about Bitcoin's development, additional forks remain possible. The open-source nature of cryptocurrency allows anyone to create modified versions.
Conclusion
While Bitcoin forks like BCH, BSV, and BCD share common origins with Bitcoin, they have taken different paths with varying degrees of success. Understanding their distinct features, histories, and purposes can help you navigate the complex cryptocurrency landscape more effectively.
Whether you're researching for investment purposes or simply expanding your crypto knowledge, recognizing the differences between these assets is crucial. The cryptocurrency space continues to evolve, with innovation coming from both the original Bitcoin protocol and its various offshoots.
Always conduct thorough research before making any investment decisions, and consider using reliable resources to verify information about different cryptocurrencies.