In the month of November 2018, Bitcoin SV forked away from Bitcoin Cash. The subsequent hash war was held responsible by many as the catalyst for the ultimate dump of cryptocurrency markets down to their lowest levels for eighteen months. Now, 5 months later, Bitcoin SV is still causing turmoil for the crypto community and crypto markets.
Binance, the world’s largest crypto exchange by adjusted volume, delisted the infamous Bitcoin SV yesterday. The quandary all arises from BSV creator Craig Wright’s recurring intimidation to organizations and media outlets who disprove his claims to be Satoshi Nakamoto.
The action taken by Binance exchange’s CEO Changpeng Zhao stirred up other exchanges to follow suit. Interestingly, some prominent exchanges are already considering the delisting. It is to be noted that as per Binance’s claims, Bitcoin SV no longer meets its standards. Nonetheless, the real reason goes much deeper than that. Prominent crypto exchanges like Shapeshift, have already followed suit as has Blockchain.com.
It is to be noted that the cryptocurrency and blockchain community, which uses Twitter as a principal means of communication, is a very polarized faction passionately defensive for their own favorites in the industry. As expected, the reaction has been moderately vocal.
CZ mentioned that the precedent is not to claim that he is Satoshi, patent everything that he can get your hands on, insult the people of Rwanda and then sue people who deny his claims before adding. He mentioned that Craig does not own our space. He further added that Craig is not entitled to behave like a petulant child and sue people who very rightly ask for evidence of his claims.
At the time of reporting Bitcoin SV is trading at around $54.9 with a market cap of $974.5 million. On a 24-hour chart, BSV is down by 12.25% whereas on a weekly basis it is down by 30.94%.