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4 reasons why Delisting BSV was "the right thing to do" for Binance




Binance delisting Bitcoin SV (BSV) forces other exchanges like Kraken and Shapeshift to follow. Let's take a look at the implications of this unprecedented flow for the world's greatest exchange.


Satoshi & # 39; s Vision & # 39; should have seen it coming

Yesterday, Binance announced the biggest bitcoin exchange, Binance, that it would delist Bitcoin SV (BSV) in a fantastic move. Cih issued a warning last year after BSV financier Craig Wright and Calvin Ayre threatened to sue. a member of the Bitcoin community for swords.

  changpeng zhao cz binance

"Craig Wright is not Satoshi," Zhao reciprocates. "Satisfied by this sh! T, we tell!"

Bitt, it continued to flow. Ayre and some other BSV supporters urged the CEO to keep up with the threat of calling Binance "a scammy bucket shop."

Finally, the Binance bomb went Monday, as CZ said was "the right thing" to do.

The news was largely received with praise by online commentators. However, Ayre was indignant and called the move "illegally."

Kraken is likely to Delist SV Next

As Bitcoinist reported last week, Morgan Creek called co-founder Anthony Pompliano on every major switch to list BSV "at the same time" May 1.

But with Binance pulling the trigger much earlier, other companies follow suit already.

Blockchain announced it would release support by May 15. "After careful consideration, we have decided to end all support from BSV in Blockchain Wallet by May 15, 2019," they wrote.

Shapeshift also jumped on the bandwagon that shared the altar much earlier.

"We stand with Binance and CZ's feelings," wrote CEO Erik Voorhees.

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

Meanwhile, Bitcoin exchange Kraken emphasized that it is also considering trading.

With over 61 thousand respondents so far, the result suggests that Kraken will be the next major exchange to release BSV. Overwhelmingly, more than 70 percent said the Kraken should delist the altar and said, "Yes, it's poisonous."

Interestingly, Kraken may have even greater reason to remove BSV. As of Bitcoinist reported last December, the exchange was sued by UnitedCorp over an alleged plot to hijack the Bitcoin Cash network for a highly controversial hard grain that created BSV.

4 Reasons Why Binance Will Benefit

Ultimately, the decision to release BSV could bring many benefits to the world's largest exchange for many reasons.

First, the BSV trading volume on the platform was negligible. With Binance supporting hundreds of balconies, it won't hurt your business by dropping such a low volume coin.

In fact, the number of actual BSV users is dwarf even by its forked rival BCH. Its hashrate, despite courting miners, is a miniscule 1.6 percent of Bitcoin's. Moreover, the Bitcoin SV award 0 0 immediately after the news was pulled off by over 20 percent, and revealed its tough market presence.

Secondly, the participation Binance received many "street cred" from society. By removing a coin that was synonymous with lawsuits, fraud and "Faketoshi", the meeting exchanges a precedent for self-regulation in the industry.

Third, Binance establishes as de facto leader among stock exchanges. By following through with his warning, the CEO showed that he would defend his principles, as a true leader is expected to do.

Fourth, BSV is now a paria. This means that other exchanges that do not * tell in the future will lose credibility in the public eye and further strengthen Binance's position.

It will also counteract exchanges from listing of questionable Bitcoin-labeled "forks" in the future.

Case in point:

Will delisting BSV benefit Binans in the long run? Share your thoughts below!


Pictures via Shutterstock, twitter, coin.dance



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