Bitcoin SV flips the Binance Coin as the feud with the popular crypto exchange Binance continues as we are reading further in the Bitcoin SV news.
BSV rallied in January and expanded its price by 50 percent and the proponents of the project even saw the project delivering something big for the coin in the upcoming months. So far, Calvin Ayre as the largest proponent of the altcoin announced the news that resulted in a pump in the price but nothing unusual happened according to the standards in the crypto space. The altcoin moved up the charts right after the pump and now Bitcoin SV flips the Binance Coin (BNB) after a busy weekend price action.
The recent developments added a lot of heat to the already heated up feud between BSV supporters and Binance after the popular crypto exchange delisted BSV in 2019 because of Craig Wright’s lawsuit campaign against the prominent crypto Twitter figures. BSV is now standing at $162 and a volume of $1.1 billion with a lot of room for growth if the traders FOMO comes back with a pump. BSV also used the low-volume trick during the weekend to pull off the work on the regaining value. During the pump, the project continued to boost the claims that Craig Wright is the only, true inventor of Bitcoin despite the many pieces of evidence that claim the contrary and who choose to support the ‘’true vision’’ of the real inventor of Bitcoin in the form of Bitcoin SV.
The asset didn’t manage to do a flippening with EOS as well that is now stagnated at around $2.62 so right now it seems that BSV stabilized over BNB which also slumped despite the charismatic effect of CZ. Bitcoin SV transactions have hosted twice as many transactions as Bitcoin in the past few months but the transactions have no guarantee of real adoption so they can be generated artificially. There are a few problems that BSV is facing that could have a huge impact on the asset’s price over the course of the year and the first one is the ongoing lawsuit against Craig Wright.
Right now, the latest court rulings have stated that the judges are giving Wright up to February because of his ‘’bonded courier’’ to deliver the final key to access bitcoins that are held in trust. If it doesn’t arrive, it could have serious ramifications on Wright’s case and the claim that he is the real inventor of Bitcoin.
The Tulip Trust By Craig Wright Boosts The BSV Price By 25%
“I’ll probably get sh** for this, but wow, BSV kicking a$$. Up considerably from where it was just a short while ago.”The district court in Florida last year ordered Wright to pay more than 500K in bitcoin to the Ira Kleiman, the brother of the late Dave Kleiman after they found Wright guilty of stealing the funds through forgery. The controversial Craig Wright said that he and Dave locked all of the funds in a Tulip Trust that was digitally encrypted and added further that he had no access to the Trust since all of the information about it he will obtain on January 1, 2020:
“As I’ve explained in court proceedings, I believe I will receive information in January 2020 that will enable us to identify coins I mined into my companies in 2009 and 2010, but cannot be certain that all of that information will in fact arrive.’’A few days before the date, Wright told Bloomberg in an interview that the bond courier was supposed to deliver him the details of the Trust, never arrived. His comments sparked criticism from the crypto users and many called him a liar and a scammer. By filing the document in the court with the Tulip Trust name, the Bitcoin SV founder raised the possibility of having information about the lost coins. If they exist, he can prove that he was indeed a part of the team that invented bitcoin.
BitGo Urged Clients To Sell Their Bitcoin SV Coins, Ayre Is Not Happy
“If you continue holding BSV in your BitGo wallet after February 4th, you will only be able to sweep the wallet and most functionality will be disabled,” the company stated on its blog post.The CEO of BitGo Mike Belshe confirmed on Twitter that Calvin Ayre was indeed asked for $15 million in order to implement the needed technical changes on their Bitcoin SV (BSV) wallets. The offer was favor according to Mike Belshe, to the team of Bitcoin SV (BSV) because the digital asset lacks business demand.
“My biggest fear was that you might have said yes. To the contrary, it was a favor to offer to implement it at all, because there is certainly no business demand for BSV support. Team is happy to be working on more important things.”
BitGo Tells Users To Swap BSV To BTC Before Hard Fork Stuns Wallet
“Clients will need to take one of two actions before February 4:The issue with BSV right now stems from Genesis removing support for wallets that use a specific protocol which is known as Pay-to-Script-Hash (P2SH). As BitGo tells users that it uses a P2SH-based multi-signature (or MultiSig) addresses, it means that this upgrade will instantly paralyze its entire client base.BSV continues facing controversies as its price tumbles and its major proponent, Craig Wright, faces an ongoing multibillion-dollar legal battle. Launched in December 2018, the token saw an all-time high of just under $240 in June this year. Since that point, it managed to lose around 66% of its value and right now trades at a price of around $80.In the wake of a new bloodbath, we can see that Bitcoin SV (BSV) is at $80.69 with a 7% drop on the day and a market cap of $1.46 billion at press time. Almost every coin in the top 20 is dropping today, led by Bitcoin and its recent correction to $6,700.
If you continue holding BSV in your BitGo wallet after February 4th, you will only be able to sweep the wallet and most functionality will be disabled.”
Contact BitGo via email@example.com to convert your BSV holdings to Bitcoin
Move BSV funds to an external wallet
New Bitcoin SV Headquarters Revealed In The Caribbean By Calvin Ayre
“[I] fully endorse the government’s policy of seeking to transition from the use of fossil fuels to green energy. This magnificent complex is a symbol of this commitment to a pollution-free Antigua.”it is a little strange why Ayre made the island of Antigua his headquarters since the nation has long offered favorable legislation for online gambling companies and Ayre had his business interests there for many years. However, it is not clear how Bitcoin SV fits into the story. Ayre described the headquarters as the ‘’new home of Original Bitcoin, BSV, in that part of the world.’’
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