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Bye Bye Bitcoin SV
Binance Confirms It is Delisting Bitcoin SV. Will others follow?
As mentioned in the previously here in Crypto Markets News, there is a lot of bad blood between Binance founder CZ & Bitcoin SV founder Craig Wright. The Twitter feud was primarily between Calvin Ayers and CZ, since Wright erased his Twitter account some time ago. Ayers is Wright's second in command in a sense & the head representative of Bitcoin SV on Twitter.
Things began getting ugly when the Bitcoin SV team began sending threatening legal letters to anyone claiming Craig Wright is not Satoshi Nakamoto. Satoshi being of course the mysterious creator or creators of Bitcoin.
Binance has announced on its official blog and social media that Bitcoin SV will be delisted.
"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)"
Bitcoin SV's future
Things do not look too bright for Craig Wright & the Bitcoin SV team currently. Binance was one of the largest exchanges that Bitcoin SV was traded on. In addition to that, many are pressuring other exchanges to delist Bitcoin SV due to Wright's nasty only behavior.
While Bitcoin SV's value might not drop like a stone currently, it is expected to drop due to this news. If other exchanges join step with Binance, then Bitcoin SV might head to zero like other failed Bitcoin forks.
Recently failed Bitcoin forks include Bitcoin Private, which got delisted from its main exchange & is now worthless.
Others may gain from the misfortune of Bitcoin SV and might be Bitcoin Cash (BCH) and Bitcoin. Less compitition over the name Bitcoin might benefit them both.