Bitcoin Cash SV’s spokesperson Craig S. Wright is being accused of being a fraud and a toxic personality in the crypto world, and therefore the newly-forked cryptocurrency is being delisted and ignored by major players in the field. Crypto exchanges Binance and Shapeshift are delisting BSV, while Kraken is considering to follow as well.
Binance was the first to announce it would delist Bitcoin Satoshi’s Vision (BSV) starting next week. Starting from April 22nd it will remove BSV from its exchange and cease trading on all trading pairs for BSV. The official reason is that BSV no longer meets the high level of standard Binance is expecting.
Shapeshift is moving even faster. They are delisting Bitcoin SV within 48 hours. Kraken on the other hand, started a poll to see how its community would respond. Currently 72% out of 62.903 votes is in favor of removing Bitcoin SV from the long-standing crypto exchange.
Craig S. Wright labels himself as Satoshi Nakamoto, the creator of bitcoin. Wright also set a bounty $5000 to unveil the identity of a Twitter user nicknamed Hodlnaut, motivated by the anonymous user’s claims that Wright is a fraud. This added fuel to the fire, as the cryptocurrency community started trending topics like #WeAreAllHodlNaut and #DelistBSV.
Obviously not every exchange is removing BSV from its trading platform, and it’s not likely that everybody will do so. Bitcoin SV will always exist as long as people are mining the coin and keeping the blockchain network up with nodes. Currently there are 509 nodes in the network, with a majority in the United States and China. Of all mining activity across the different versions of bitcoin, only 1.5 percent is currently mining Bitcoin SV. With over 80 percent bitcoin (BTC) is still the most popular.
Bitcoin SV is now 21 percent down in value. While the rest of the market is also in red, Bitcoin Cash has seen a 6 percent increase in value. The drop of BSV and the rise of BCH are supposedly related as investors switch their BSV for Bitcoin Cash.
Bitcoin SV forked from Bitcoin Cash on November 15th 2018. In the first few weeks it looked like BSV would overthrow its predecessor, but then problems popped up. Bitcoin SV turned out to be vulnerable to double spending,
Also published on Medium.