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Binance Delists BSV – Meanwhile BCH-ABC Surges
Altcoin News

Binance Delists BSV – Meanwhile BCH-ABC Surges

Popular cryptocurrency exchange Binance has officially announced that it will de-list Bitcoin SV from its list of supported tokens. The cryptocurrency exchange has given traders a one-week grace period to adjust to its decision.

Update: Kraken is now polling users to see if they want $BSV delisted:

In a statement published on its website on Monday (April 15, 2019), Binance announced its decision to delist Bitcoin SV (Satoshi’s Vision). An excerpt from the statement reads:

“we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect,”

Zhao’s decision behind Binance Delisting BSV CZ

This decision comes only a few days after Binance CEO, Changpeng Zhao, warned that the platform would delist BSV following the actions of Craig Wright.

It therefore seem likely that BSV is being deleted at least in part due to Wright’s attacks on Twitter user hodlonaut (who started the Lightning Network “torch“) and other individuals. Specifically, Wright placed a bounty on hodlonaut’s identity after the latter claimed Wright is not Satoshi. CZ said Binance would delist BSV if Wright continued these attacks.

Wright has for the last several years claimed he is the person behind the pseudonym Satoshi Nakamoto, but his evidence for this claim has been widely disputed.

BSV miners lose $2.2 Million

According to data from BitMEX Research, Bitcoin SV miners have incurred a gross loss of more than $2 million since the November 2018 hard fork. In a tweet published on Friday (April 12, 2019), BitMEX Research said the figure represented a loss margin of 12 percent.

BitMEX Research (@BitMEXResearch) April 12, 2019:

“Based on our estimates and current coin prices, since the November 2018 split, Bitcoin Cash SV miners have accumulated gross losses of US$2.2m (a negative gross profit margin of 12%). This is accounting for mining electricity costs only”

BSV price drops 10%

It is no secret that BCH has fared better than BSV since the end of the hash war. This fact, however, isn’t saying much given that companies like Bitmain have incurred massive losses betting on Bitcoin Cash.

BSV has been on a downward spiral for most of the year despite the recent uptick in cryptocurrency prices, but this move seems to put it on course for zombie status.


Cryptocurrency investor, researcher and writer

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