Big Reaction to BSV Boycott, Is It Good For The Crypto Industry?

Big Reaction to BSV Boycott, Is It Good For The Crypto Industry? 1


The crypto community could be described as a cliquey band of tech enthusiasts deeply loyal to their own projects or favored coins. When something divides them, the reaction is usually as volatile as the markets themselves, and this is exactly what has happened since Binance blacklisted Bitcoin SV.

BSV creator, Craig S. Wright, has made few friends in the crypto community of late. His constant claims to ‘Satoshidom’ have riled some of the biggest players in the industry and one of them recently reacted drawing opinion from all who are involved in the emerging ecosystem.

Binance boss Changpeng Zhao has been engaging in a ‘tweet war’ with Craig Wright for over a week now and it finally came to a head when his exchange pulled the plug on BSV yesterday. The move was hailed by some industry leaders as great step forward for the industry, but others were not so enthralled.

IOHK chief and Cardano co-founder, Charles Hoskinson, was quick to the mark with the digital fist pump instantly calling for others to follow;

US based Kraken exchange is also mulling the shun while ShapeShift CEO Erik Voorhees was also quick to join the movement when he sided with CZ and announced the delisting of BSV from his own platform;

Some of the responses however took the other side of the digital divide;

“Erik, I’m a fan of you, & shapeshift. I’m also not a fan of faketoshi. He’s a fraud & bully. But this action by you smacks of PayPal cutting off Wikileaks. As a BTC maximalist I dont like it. It goes against what BTC stands for.”

Even crypto warlord John McAfee waded in with his view on it, rightly pointing out that it had gone too far;

Those taking the opposing view did not necessarily do so because they were fans of Wright or BSV, it was more of a kick in the pants for decentralization as some pointed out. Crypto proponent analyst Alex Krüger made the very good point that these exchanges actually profit handsomely from listing altcoins;

Craig Wright has been labeled a bad actor in the space for some time now and many consider BSV a scam. Whether a company that derives profits from trading commissions has the right to directly influence the future of other crypto projects is the big question. Binance has just become the judge, jury, and executioner for BSV.

Whether right or wrong, the decision has once again polarized the crypto community with more tribalism and markets have suffered. $6 billion has been lost overnight and BSV has shed 25% since the Binance announcement. It seems at times the big players in this ever evolving ‘game of coins’ often forget who the real enemy is.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Prove
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022
Mintable
Mintable CEO Zach Burks Talks to Us about the Opensea Stolen NFTs and Their Recovery
March 21, 2022
Crypto Crime
Crypto Crime Surges To Record Highs As Thieves Follow Market Buzz – Chainalysis 2022 Report
February 24, 2022
Bots Circumvent 2FA Login At Coinbase And Other Crypto Exchanges In 2022
Bots Have Circumvented 2FA Logins At Coinbase And Other Crypto Exchanges In 2022
February 17, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Russia
Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin28,825 0.43 % 2.97 % 5.13 %
Ethereum1,734.2 0.85 % 9.88 % 14.31 %
Tether1.001 0.00 % 0.10 % 0.05 %
USD Coin0.9989 0.16 % 0.08 % 0.04 %
BNB293.86 1.48 % 7.57 % 4.48 %
XRP0.3941 0.49 % 1.99 % 6.54 %
Binance USD1.000 0.11 % 0.19 % 0.34 %
Cardano0.9566 0.22 % 0.68 % 6.96 %
Solana40.52 2.42 % 13.22 % 22.57 %
Dogecoin0.07722 0.41 % 5.17 % 11.32 %

bitcoin
Bitcoin (BTC) $ 28,927.00
ethereum
Ethereum (ETH) $ 1,745.80
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 297.22
xrp
XRP (XRP) $ 0.395898
binance-usd
Binance USD (BUSD) $ 1.00
cardano
Cardano (ADA) $ 0.456862
solana
Solana (SOL) $ 40.39
dogecoin
Dogecoin (DOGE) $ 0.077318