OKCoin delists BSV and BCH from its platform in order to protect bitcoin from the “malicious information war” by Craig Wright as we are reading more in today’s Bitcoin SV news.
In an attempt to protect the entire BTC ecosystem, OKCoin delists BSV and BCH and blamed Wright’s recent lawsuit. The popular exchange made a controversial decision to delist two BTC forks and according to the CEO of the company, they are doing everything that is in the best interest of Bitcoin’s ecosystem while trying to act against Wright’s lawsuit urging various websites to remove the Bitcoin whitepaper.
Okcoin announced earlier today that it will suspend trading and will remove the two Bitcoin hard forks as of March 1st, 2021 and also, Hong Fang, the CEO of OKCoin published a post to shed some light on the decision. She reasoned that the exchange is exploring which coins it should keep and which it will remove as a part of its growing system. However, BSV and BCH delistings come with a unique context and history.
The post reads that BTC gave birth to the entire industry and hard forks are a common occurrence in the ecosystem while Bitcoin SV and Bitcoin Cash carry a special note. Both emerged a few years ago while their proponents claimed to be the true Bitcoin. However, Fang thinks that crypto investors and the market made it clear that bitcoin is actually built for as the BTC market cap reached $1 trillion and BCH and BSV were valued at 1.5% and 0.5% from the original version.
Fang explained that the market cap is not a good enough reason to delist two crypto assets but the executive breached a lawsuit by Craig Wright’s lawyers, urging several websites to remove the whitepaper. Wright claimed that he was Satoshi Nakamoto and he is also a very influential stakeholder in BSV even if he doesn’t control or own the BSV community as Fang put it.
As such, OKcoin felt the need to act upon these developments and to support the original BTC ecosystem by delisting two of the hard forks. While acknowledging that some BSV and BCH community members will be able to create value, OKCoin noted that it cant ignore the malicious information war by Wright:
“We view both factors as very destructive to Bitcoin – the cornerstone layer of our industry. Before we have a better way to both separate BSV from Wright’s attack on the open-source community, and to differentiate these two derivative protocols from the original Bitcoin on our platform, we feel more comfortable with removing them.”
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