BitcoinSV () hit the headlines in April after a number of prominent cryptocurrency exchanges including Binance, Kraken and ShapeShift delisted the alt-currency. There’s been strong sentiment—both positive and negative—from a variety of crypto market participants in the aftermath, as the digital currency industry continues its struggle to be taken seriously and gain mainstream acceptance.
BSV is the result of a contentious hard fork of the blockchain. Australian computer scientist Craig Wright and Calvin Ayer were behind the hard fork. BSV raised Cash‘s block size limit from 32MB to 128MB. Wright has also claimed he’s actually the mysterious Bitcoin founder, Satoshi Nakamoto. That, however, has been widely discredited. It’s just one of many controversies swirling around the now-debased token.
Myriad Reasons, Lots of Drama
What triggered the delistings? Many believe the primary reason had more to do with the number of exchange CEOs who personally dislike Wright. Some feel this was borne out when Binance founder Changpeng Zhao took to Twitter in mid April to call Wright out. But others tweeted their disagreement arguing “An attack against one is an attack against all.” Still, on April 15th, Binance officially announced the delisting on their site.
Kraken, in its delisting announcement the following day, attributed their decision to other factors:
“The team behind BitcoinSV have engaged in behavior 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.”
Jimmy Nguyen, global ambassador for BSV responded:
“It’s absolutely ridiculous that any business, let alone a cryptocurrency exchange, would use Twitter polls to make a serious business decision like delisting an asset in a way that could harm the value of millions of investors worldwide.”
The crux of the issue,…