Today I have far more questions than answers. The whole Bitcoin Cash and Bitcoin SV de-listing debacle reeks of centralisation, ego tripping and manipulation. No matter how much you may detest Dr Craig Steven Wright and no matter how worthless you may think BCH and BSV are, the way in which bag holders have been dumped on seemingly out of the blue just feels unjust.
So I am not going to rant like I usually do, but simply pose some of the troubling points and questions bouncing around my mind today (admittedly some of these do sound a bit rant-like but that’s how I roll. Quiet guy by day, keyboard warrior by night):
- Spare a thought for the poor “Greater Fools” left holding bags of BCH and BSV after influential exchanges take the fate of these coins into their own hands and dump them into the crypto wastelands along with the rest of the trash.
- But with regulation around the corner is this actually a blessing in disguise to save your skin before Proof of Work is banned in China, Japan, Europe and further afield?
- Where is the real outcry from the men at the top of these Bitcoin Forks? Or is Craig Wright at least too busy with the Satoshi Nakamoto court case against the brother of the late Dave “Satoshi” Kleiman?
- Have the exchanges and forkers all already traded off most of their BCH/BSV forked bounties and are now busy sacrificing these two shitcoins in order to protect and boost Bitcoin BTC so they can safely sell out their main bags before regulation kicks in?
- Which Bitcoin fork or POW coin will be next to be sacrificed? Litecoin looks the obvious choice with creator and managing director Charlie Lee having dumped all his LTC at the all time high over a year ago now, royally screwing over all his fans. Though perhaps we’ll see more BCH dumping before we get around to LTC?
- Is somebody lining up a 51% attack on proof of work coins? With most regular mining set to revert to BTC, BSV would be the obvious first target followed by BCH before hitting LTC and then one last big score… the BIG one… the mighty Bitcoin itself?
- Why did CZ of Binance agree to supporting the BCH/BSV fork in the first place if he already had his mind made up about Dr Wright being a fraud, a scammer and a bad actor?
- And why are so many other exchanges jumping on the bandwagon just because Binance says they are de-listing? Binance says “jump”, Kraken, Shape Shift etc ask “how high”?
- Is this just all one giant conspiracy (I am sure the carton bear fans (the infamous BearableGuy123) and the $589 club within the XRP extremists will be coming up with all sorts of Rothschild like theories).
- Why is BSV actually UP in price today (only 0.60% but still up)… who in their right mind would be buying this? Do they think it is a game to drive prices down and then moon if the announcements are reversed or if Wright wins his Satoshi court case?
Ethereum knows the writing is on the wall for proof of work. Bitcoin and friends have no answer to the impending POW/mining bans. Bakkt, SBIVC, etc are all delaying their grand openings and in the meantime an army of hundreds of thousands of trading bots are manipulating the market to hold onto Bitcoins value as well as maintaining there is a public interest in Bitcoin by hacking and attacking all pro-XRP websites and social media accounts (we have the logs, the IP addresses and timestamps of all attempted attacks on Wise Cryptos which always spike when I am non too complementary about Bitcoin).
How many different agendas are actually on the go, or are we all being fooled into picking sides while the grand masters distract us and play their sick little game to make sure the institutions who need to, have full control over the (eventually legitimate) crypto market, get the lions share they need before finally pressing the big green GO button?
Who knows? I certainly have no clue about what is really going on! All I can do is try and make a little trading profit here and there and hold tight to my bags and hope I’ve picked a crypto which will survive Crypto 1.0’s death spiral and thrive well into the new dawn of legitimate and regulated Crypto 2.0!
Press releases follow below…
Bitcoin Cash (BCH) being de-listed by SBIVC
“This material is to be published based on the rule Article 9 paragraph 1 on the management system of virtual currency related information of Japan Virtual Currency Exchange Business Association.
April 16, 2019, SBI Virtual Currency Co., Ltd.
Notice on Discontinuing the Use of Bitcoin Cash
The Company decided to abolish the handling of Bitcoin Cash (hereinafter referred to as “BCH”). ,
I will publish here. The specific schedule for the abolition will be announced by the end of April.
1. Name of virtual currency to be repealed Bitcoin cash (BCH)
2. Discontinuance date and time late June 2019 (scheduled)
3. Reason for discontinuation of handling BCH will be discontinued due to the following three points. As a result, the virtual currency is not in line with the Group’s business philosophy of providing financial services that enhance customer benefits, and will continue to be dealt with in light of investor protection. It is because I judged that it should not be.
(1) The market capitalization of BCH has decreased significantly
(2) As a result, there is a high possibility of distributing fraudulent transactions in the records of blocks that will be implemented and subsequently generated by 51% attacks. Having determined that there is doubt about safety
This material is to be published based on the rule Article 9 paragraph 1 on the management system of virtual currency related information of Japan Virtual Currency Exchange Business Association.
(3) Further hard fork will be held, and it is impossible to completely deny the possibility that the price will decline significantly.
4. Policy on the return of BCH. The return of BCH to customers, etc. will be implemented as follows.
(1) Start of cash conversion through the sale of BCH by our customers by the end of April
(2) Our designated hardware wallet (CoolXWallet) managed by the customers by the end of May Start of BCH issue of BCH * The company’s BCH transaction is currently suspended, but in accordance with the above, only the custody sale transaction will be resumed.
We do not accept BCH receipts to us.
In addition, details of BCH issue will be announced by the end of April. ※ BCH for which sales and issues have not been made by the end of the transaction will be sold to customers in cash (Japanese yen) after being sold at an appropriate price. This detail will also be announced in late April.
In addition to the above schedule, the price equivalent to the bitcoin cash satoshi vision (BCHSV) that the holder of bitcoin cash (BCH) at the time of the hard fork occurred last November should have acquired It will be issued by money. Details such as conversion rates and payment dates will be announced by the end of April. that’s all.”
Source (Japanese PDF): SBIVC
Bitcoin SV Satoshi Vision facing mass de-listing from exchanges
Binance announces BSV delisting
At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all of our users.
When we conduct these reviews, we consider a variety of factors. Here are some that drive whether we decide to delist a digital asset:
- Commitment of team to project
- Level and quality of development activity
- Network / smart contract stability
- Level of public communication
- Responsiveness to our periodic due diligence requests
- Evidence of unethical / fraudulent conduct
- Contribution to a healthy and sustainable crypto ecosystem
Based on our most recent reviews, we have decided to delist and cease trading on all trading pairs for the following coin on 2019/04/22 at 10:00 AM UTC:
- Bitcoin SV (BCHSV)
- All trade orders will be automatically removed after trading ceases in each respective trading pair.
- To view your assets after trading ceases, please ensure you have not selected “Hide small assets” in your Funds page.
- Withdrawals of these coins and tokens from Binance will continue to be supported until 2019/07/22 at 10:00 AM UTC.
We thank you for your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth.
Binance Team 2019/04/15″
Kraken is de-listing BitcoinSV
“Cryptocurrency is about creating a better world. At Kraken, we take this mission seriously. Our focus is on delivering the freedom digital currencies offer. Freedom from centralized systems, financial freedom and critically, freedom from oppression. Our vision of the future doesn’t work unless it works for everyone.
Over the last few months, the team behind Bitcoin SV have engaged in behaviour completely antithetical to everything we at Kraken and the wider crypto community stands for. It started with fraudulent claims, escalating to threats and legal action, with the BSV team suing a number of people speaking out against them. The threats made last week to individual members of the community were the last straw.
This aggression will not stand. Alongside other upstanding members of the community, and in consultation with more than 70,000 Kraken users, we have decided to delist Bitcoin SV. Deposits will be disabled April 22. Trading will cease on all trading pairs April 29. Withdrawals will continue until May 31.
A secure, sustainable and trustworthy ecosystem is only possible if community members live by these values. Crypto’s future is bright. There is no room for bad actors. We appreciate the community’s support as we work together to create the world we want to see.”
Effective immediately BSV has been delisted as a payment method from the Bitcoin Rewards cashback platform.
Whilst the digital currency sector has come a long way from inception, the pages of its story are still being written in wet ink.
We embrace the decentralised nature of the industry, it is the foundation on which we continue to build upon – however, it is the responsibility of all service providers, exchanges and individuals to act as caretakers, nurture its growth and steer it forward in a manner that protects both existing and future participants from questionable elements.
For this reason – it is clear that BSV does not meet BitcoinRewards.com community standards or align with the values we wish to promote.”
Source: Bitcoin Rewards
ShapeShift to de-list Bitcoin SV
“We stand with
@binance and CZ’s sentiments. We’ve decided to delist Bitcoin SV #BSV from @ShapeShift_io within 48 hrs.”
Source: Erik Voorhees
Blockchain.com ends support for BSV
“Ending support for Bitcoin Cash SV (BSV) in the Blockchain Wallet
We’re invested in the long-term health of the crypto ecosystem and are mindful to support cryptocurrencies that are reliable, safe, and convenient. Since January we’ve offered limited support for Bitcoin Cash SV (BSV) and have been closely monitoring activity of the BSV network since the hard fork in November. After careful consideration, we have determined to end all support of BSV within the Blockchain Wallet by May 15, 2019.
If you have BSV, we recommend simply swapping it for another crypto in the Blockchain Wallet or sending your tokens to another service. To access your BSV tokens, log into your wallet through any web browser and select the Settings option on the bottom left, then Wallets & Addresses. On mobile? You can log into your Web Wallet by logging into the Blockchain app and clicking ‘Log in to Web Wallet’ in the side navigation.
Have questions? Feel free to reach out to our Social team and support team for help.”
Satowallet discontinues support for BSV
“Satowallet will Discontinue support for
$BSV in our wallets and exchange platforms. Withdrawals commence immediately as $BSV will be delisted on 25/04/2019″
Bittylicious de-listing Bitcoin SV
“Bittylicious is delisting Bitcoin SV (BSV). This will be available until 22nd April (pending brokers keeping their listings alive). Low volumes aside, we are doing this to show solidarity against the toxic litigious environment in the BSV space
More exchanges de-listing Bitcoin SV and Bitcoin Cash?
There are more exchanges currently contemplating de-listing these two cryptos. We apologize if we have missed any already announced but I think you all get the picture by now with these listed above.