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Home / Business / 4 reasons why the delisting of BSV was the right thing for Binance

4 reasons why the delisting of BSV was the right thing for Binance



Binance delisting Bitcoin SV (BSV) forces other exchanges such as Kraken and Shapeshift to succeed. Let's take a look at the implications of this unprecedented move for the world's largest exchange.


"Satoshi's Vision" Should Come

Yesterday, Binance, the largest Bitcoin exchange, announced that it would be doing an astonishing step to overtake Bitcoin SV (BSV). CEO Changpeng & # 39; CZ & # 39; Zhao claimed he was the & # 39; original & # 39; Bitcoin.

CZ issued a warning last week after BSV financiers Craig Wright and Calvin Ayre threatened to sue a member of the Bitcoin community for slander.

 changpeng zhao cz binance

"Craig Wright is not a Satoshi," Zhao replied. "More of that shit, we'll be absent!"

The shit kept flowing. Ayre and several other BSV supporters even called on the CEO to enforce the threat that Binance called "a fraudulent bucket shop".

Finally, on Monday, Binance dropped the bomb, which was designated by CZ as "right".

The news has been widely praised by online commentators. Ayre, however, was outraged and called the train as "unlawful".

Kraken Will Likely Delist SV Next

As reported by Bitcoinist co-founder of Morgan Creek, Anthony Pompliano, was called last week. On every major exchange, BSV will be "concurrently" on May 1st List taken.

But since Binance pulls off much earlier, other companies are already following suit.

Blockchain announced that the support would fall until May 15. "After careful consideration, we have decided to end support for BSV within the Blockchain Wallet by May 15, 2019," she wrote.

Shapeshift jumped on the train much earlier and put out the Altcoin much earlier.

The feelings of Binance and CZ ", wrote [CEOErikVoorhees(19459018)].

We have decided to delist Bitcoin SV from Shapeshift within 48 hours.

Bitcoin Exchange Kraken has now considered taking action. A public poll asked if BSV should be removed.

With more than 61,000 respondents so far, the result indicates that Kraken will be the next major exchange for BSV. Overwhelmingly, more than 70 percent said that Kraken should cancel the Altcoin declaration and said, "Yes, it's poisonous." Bitcoinist reported last December that the exchange of UnitedCorp was committed for allegedly plotting to kidnap the Bitcoin Cash network after a hard-fought hard-rock spawning BSV [4] why Binance is useful

Ultimately, the decision to remove BSV could, for many reasons, bring a whole range of benefits to the largest stock exchange in the world.

First, the BSV trading volume on the platform was negligible. Since Binance supported hundreds of old coins, it did not hurt the company to drop such a low-volume coin.

In fact, the number of BSV users is even overshadowed by its forked rival BCH. Despite the handling of miners, the hathrate is 1.6 percent of Bitcoin. In addition, the price of Bitcoin SV 0 0 immediately after the news plunged by over 20 percent, which revealed its weak market presence.

Second, the delisting of Binance gained in importance. Street legal & # 39; from the community. By removing a coin that was synonymous with lawsuits, fraud, and "faketoshi," the exchange sets a precedent for industry self-regulation. Third, Binance becomes the de facto leader among the stock exchanges. Through his warning, the CEO has shown that he will defend his principles, as expected from a true leader.

Fourth, the BSV is now a pariah. This means that other stock exchanges that do not * continue * lose their credibility in the public eye and further strengthen Binance's position.

It will also keep the exchange from listing questionable Bitcoin forks in the future.

Case Study:

Will the BSV delisting benefit from Binance in the long term? Share your thoughts below!


Pictures about Shutterstock, twitter, coin.dance


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