SBI Holdings the Japanese Financial giant, removed Bitcoin Cash from its exchange last week but claims it was not a part of the delisting campaign against BSV. In today’s coming altcoin news, we read more on this misunderstanding.
According to the Cointelegraph Japan reports from April 19, the SBI holdings giant never actually offered Bitcoin Satoshi Vision trading. The company only allowed Bitcoin Cash trading and this has always been seen as a controversial move. Removing Bitcoin cash from the platform happened during the most controversial times since many crypto exchanges delisted the BSV cryptocurrency as an overall industry boycott.
As DC Forecasts previously reported in the altcoin news, exchanges such as Kraken and Binance stopped providing support for Bitcoin Satoshi Vision after Craig Wright made multiple legal threats towards Twitter user Hodlonaut but also against podcaster Peter McCormack for accusing him of being a fraud. SBI Holdings has nothing to do with the accusations and the delisting campaign that started on Twitter.
Bitcoin Satoshi Vision (BSV) is a hard fork of Bitcoin Cash after Craig Wright and Ayre claimed that the altcoin is the original bitcoin. Wright also made claims that he is the real creator of the number one cryptocurrency. During his statements, the value of both altcoins fell dramatically. The move by SBI holdings removing BCH comes at a time when other companies choose to delist BSV in a time of criticism.
However, the SBI Holdings giant was also criticized for the decision since the company has made a lot of partnerships with Wright’s businesses and especially with nChain which is also under Wright’s ownership. In a statement, the executives denied conflict of interest:
“It is true that we do have a business relationship with Mr. Craig Wright through our partnership with nChain. However, our decision to delist Bitcoin Cash (ABC) is unrelated to the delisting of Bitcoin SV by several non-Japanese exchanges.”
SBI Holdings made clear that the BCH delisting was premeditated and a decision was brought after a long consultation with the Japanese Virtual Currencies Exchange Association. The decision comes at a time when BSV is reaching almost all headlines in every best cryptocurrency news sites but the company states it is a coincidence.
As of press time, Bitcoin Cash is trading at 3.2 percent lower at $299 while Bitcoin Satoshi Vision is trading around $59 despite the massive delistings.
Epic Surge Adds 10% ($25bn.) To Crypto Market Overnight
Something huge and amazing going about #TRON and #BitTorrent. I will share with you after June 1. I think I have 70% to win and nail it. Fingers crossed! $TRX $BTT"The FOMO (fear of missing out) is high after the epic surge which resulted in a lot of gains. When markets are on fire like they are now, it is very possible that the rally will continue, analysts claim.
BSV Price Surges By 33% Due To A Copyright Application
“If Bitcoin or any other monetary system seeks to act outside the rules, it becomes an outlaw system, and once it does, it is easy to stop,” he stated.However, one of the most realistic theories behind the BSV price pump in the latest cryptocurrency news is the one in which Calvin Ayre (Dr. Wright's close associate) claimed that the US copyright office had accepted the scholar's claim of being Satoshi Nakamoto - the mysterious Bitcoin creator. Nonetheless, the authorities later clarified that anybody could claim the same, stating that they do not recognize “anyone for anything.”
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BitMex Research Shows BCH Experienced Two-Block Chain Reorganization
“Based on our calculations, around 3,392 BCH may have been successfully double spent in an orchestrated transaction reversal. However, the only victim with respect to these double spent coins could have been the original ‘thief.’”As the BitMex research explains, the three interrelated issues during the hard fork brought up 25 transactions (moving 3,392 BCH) not being into the reorganized chain which led to the double spend effect. As reported in the latest cryptocurrency news, at that time, Bitcoin Satoshi Vision (BSV) blockchain which is a result of the previous BCH hard fork struggled with the large block size and then a series of block reorganizations happened back in April. At the start of this year, In January, a deep reorganization of the Ethereum classic (ETC) blockchain happened as well which also included double spending and $1.1 million worth of crypto was involved. The report states further:
‘’The largest concern from all of this, in our view, is the deliberate and coordinated re-organisation. From one side of the argument, the funds were stolen, therefore the actions were justified in returning the funds to their “rightful owners”, even if it caused some short term disruption. However, the cash like transaction finality is seen by many, or perhaps by some, as the only unique characteristic of these blockchain systems.’’
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