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SBI Delists Bitcoin Cash

SBI Delists Bitcoin Cash | Keeps Support for Bitcoin SV

In a potentially rebellious move, major Japanese financial services company, SBI Holdings, announced it is delisting Bitcoin Cash (BCH) from its digital currency exchange. Let’s check this out.

SBI Delists Bitcoin Cash (BCH)

Yesterday, we covered the controversy surrounding the delisting of Bitcoin SV (BSV). Specifically, the world’s largest cryptocurrency exchange, Binance, announced yesterday that it will delist this crypto effective April 22nd.

The move comes as a retaliation against the actions of BSV creator Craig Wright (more on that to follow).

But today, tables are turning somewhat as major Japanese financial services company, SBI Holdings, is holding onto Bitcoin SV, but is delisting Bitcoin Cash (BCH). BCH’s departure from the exchange will happen in June, and the exchange will keep support for BSV.

So What is Going On?

As with all things cryptocurrency, there are complications. Bitcoin Cash is the first hard-fork of the leading and original cryptocurrency Bitcoin (BTC) and was created in August 2017. Bitcoin SV, then, is a hard fork of Bitcoin Cash and was created by Craig Wright—who controversially claims that he is the creator of the original Bitcoin.

Wright’s proclamation that he is the person behind the pseudonym Satoshi Nakamoto has disrupted the cryptosphere. So much so, that several major crypto trading platforms have followed in Binance’s footsteps and chosen to also delist BSV. A #DelistBSV hashtag has even begun trending throughout social media.

SBI Holdings to the Rescue

Now, SBI Holdings has come to BSV’s defense in a move that is bound to divide the cryptocurrency universe further. Reports from Cointelegraph suggest that the CEO of the financial giant, Yoshitaka Kitao, has a personal connection with Wright. A past Tweet of Wright’s stated that Kitao is “a friend and man I respect a lot.”

>> FBCoin: Facebook Set to Launch Its Own Cryptocurrency Coin

A Split Market?

With SBI ousting Bitcoin Cash, it’s hard to know where the market will go next. Will we start to see an exchange split across the globe? Team BSV vs team BCH?

Despite the news, Bitcoin Cash is climbing in value—up nearly 6% in the past 24-hours, trading at approximately $314 USD.

BSV has crashed this week on the back of the delisting controversy. While SBI’s move may help to rescue Wright’s pride, it hasn’t been able to rescue the coin’s value. BSV is currently down more than 21% on the day, trading for $55 USD according to CoinMarketCap.

What team are you on?

Featured Image: DepositPhotos © sirichaiDeposit

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SBI Delists Bitcoin Cash

Keeps Support for Bitcoin SV

In a potentially rebellious move, major Japanese financial services company, SBI Holdings, announced it is delisting Bitcoin Cash (BCH) from its digital currency exchange. Let’s check this out.

SBI Delists Bitcoin Cash (BCH)

Yesterday, we covered the controversy surrounding the delisting of Bitcoin SV (BSV). Specifically, the world’s largest cryptocurrency exchange, Binance, announced yesterday that it will delist this crypto effective April 22nd.

The move comes as a retaliation against the actions of BSV creator Craig Wright (more on that to follow).

But today, tables are turning somewhat as major Japanese financial services company, SBI Holdings, is holding onto Bitcoin SV, but is delisting Bitcoin Cash (BCH). BCH’s departure from the exchange will happen in June, and the exchange will keep support for BSV.

So What is Going On?

As with all things cryptocurrency, there are complications. Bitcoin Cash is the first hard-fork of the leading and original cryptocurrency Bitcoin (BTC) and was created in August 2017. Bitcoin SV, then, is a hard fork of Bitcoin Cash and was created by Craig Wright—who controversially claims that he is the creator of the original Bitcoin.

Wright’s proclamation that he is the person behind the pseudonym Satoshi Nakamoto has disrupted the cryptosphere. So much so, that several major crypto trading platforms have followed in Binance’s footsteps and chosen to also delist BSV. A #DelistBSV hashtag has even begun trending throughout social media.

SBI Holdings to the Rescue

Now, SBI Holdings has come to BSV’s defense in a move that is bound to divide the cryptocurrency universe further. Reports from Cointelegraph suggest that the CEO of the financial giant, Yoshitaka Kitao, has a personal connection with Wright. A past Tweet of Wright’s stated that Kitao is “a friend and man I respect a lot.”

>> FBCoin: Facebook Set to Launch Its Own Cryptocurrency Coin

A Split Market?

With SBI ousting Bitcoin Cash, it’s hard to know where the market will go next. Will we start to see an exchange split across the globe? Team BSV vs team BCH?

Despite the news, Bitcoin Cash is climbing in value—up nearly 6% in the past 24-hours, trading at approximately $314 USD.

BSV has crashed this week on the back of the delisting controversy. While SBI’s move may help to rescue Wright’s pride, it hasn’t been able to rescue the coin’s value. BSV is currently down more than 21% on the day, trading for $55 USD according to CoinMarketCap.

What team are you on?

Featured Image: DepositPhotos © sirichaiDeposit

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Bitcoin Cash (BCH) vs. Bitcoin SV (BSV)

The cryptocurrency market has hit a bit of stride these past few days. One the market hasn’t seen in quite some time. Bitcoin (BTC) is trading above $4,000, and Ethereum is sitting just above $115. Today, we’ll take a closer look at Bitcoin Cash (BCH) and Bitcoin SV (BSV) and their latest movements.

Bitcoin Cash (BCH)

Bitcoin Cash or Bitcoin ABC has been dominating its peers on the crypto market. This week, BCH is up nearly 150%. What is the reason for this sudden spike? It remains unknown at this time. However, Bitcoin ABC won the hash war, and most exchanges are deeming Bitcoin ACB as the true Bitcoin Cash.

Pretty much from the start, Bitcoin ABC was backed by many of the major cryptocurrency exchanges, putting it in a great position to reign supreme. Still, Bitcoin SV remains strong.

According to Yahoo Finance, BCH is currently trading at $204.41 a coin, up 18.70%, in 24 hours.

Bitcoin SV (BSV)

On the flip side, Bitcoin SV lost the hash war and therefore can’t be deemed as the official Bitcoin Cash (BCH). But I’m not sure Craig Wright or Bitcoin SV enthusiasts are mad about that. Bitcoin SV, or ‘Satoshi’s Version,’ is said to be the digital currency Satoshi Nakamoto first envisioned in his original whitepaper.

>> Coinbase Just Moved $5 Billion for Altcoin Expansion

In the past, Wright has claimed that he is the original Nakamoto, but many in the crypto space have laughed immensely at the claim. Vitalik Buterin, Ethereum’s co-founder, has even gone as far as calling Craig Wright a fraud at a crypto conference in April.

Despite all the negative press and lack of backing by exchanges, Bitcoin SV remains strong. But can it hold up? At press time, the digital currency is the seventh largest digital currency by total market cap. According to CoinMarketCap, BSV is trading at $114.31 a coin, up 12.76% in 24 hours. For the week, Bitcoin SV is up nearly 51%.

While Bitcoin ABC may have won the Bitcoin Cash (BCH) race, the race for the better digital currency and blockchain continues! Which side are you on?

Featured Image: Depositphotos/© EdZbarzhyvetsky

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Bitcoin ABC Listed as Real Bitcoin Cash by OKEx

OKEx has officially taken sides in the Bitcoin Cash hash war. According to an official statement made by the Malta-based cryptocurrency exchange today, it will list Bitcoin Cash ABC under the original Bitcoin Cash (BCH) ticker.

Bitcoin ABC Wins with OKEx

The statement reads:

“We will change the ticker of Bitcoin Cash ABC from BCHABC to BCH, and that of Bitcoin Cash SV from BCHSV to BSV at 5am Dec 13, 2018 (CET, UTC +1). At the same time, spot trading of BCHABC and BCHSV will also be suspended. All remaining balance of the original BCH will be settled, and the asset will be removed from your account.”

The Bitcoin Cash hard fork split took place on November 15th and caused a lot of drama within the cryptocurrency community. In addition to the drama, coins began falling at a rapid rate as investors lost confidence.

From the beginning, Bitcoin ABC has been supported by a number of the major cryptocurrency exchanges. Bitcoin ABC is led by Roger Ver, CEO of Bitcoin.com. The more conservative upgrade to the Bitcoin Cash protocol was supported by Coinbase, Binance, and Bitmain from the beginning. Gemini, the cryptocurrency exchange owned by the Winklevoss twins, also voiced it would only support Bitcoin ABC.

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Its competitor, Bitcoin SV, was founded by Craig Wright. Bitcoin SV was the more radical protocol upgrade and increased the block size of BCH from 32MB to 128 MB. Craig Wright named the upgrade Bitcoin SV or ‘Satoshi’s Vision’ because he believes it is what the original Bitcoin (BTC) was meant to be. Wright has claimed in the past that he is the originator of the Bitcoin whitepaper released in 2008 and has been called ‘Faketoshi’ by the crypto community.

Bitcoin Cash ABC has claimed victory. CoinMarketCap, the world’s most used cryptocurrency index, has even kept Bitcoin ABC’s movement under the original Bitcoin Cash (BCH) ticker. Sorry, Faketoshi.

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Bitcoin Cash Hash War | Who Came Out Victorious?

Nearly ten days ago, Bitcoin Cash underwent its second scheduled protocol upgrade of the year. Most in the crypto community know that a ‘hard fork’ in the chain is the only way to upgrade proof-of-work consensus protocols. Just before this upgrade occurred, competing proposals emerged and split the BCH community in three. From the scheduled hard fork, three fractions of the Bitcoin Cash blockchain emerged, and the Bitcoin Cash hash war began.

Bitcoin Cash Hash War

On November 15th, BCH was split into Bitcoin SV, Bitcoin ABC, and Bitcoin Unlimited.

Bitcoin ABC was led by Roger Ver, CEO of Bitcoin.com, and was the more conservative approach to the Bitcoin Cash upgrade. Bitcoin ABC was backed by Coinbase, Binance, and Bitmain.

Bitcoin SV, or ‘Satoshi’s Version,’ was founded by Craig Wright, who’s also known as ‘Faketoshi.’ Wright has claimed in the past he was the original Satoshi Nakamoto who created Bitcoin (BTC). Because of this, Wright has been slammed by other blockchain leaders such as Vitalik Buterin, co-founder and the face of Ethereum (ETH). Bitcoin SV seeks to increase the block size of BCH from 32MB to 128MB, a move which would focus on the network’s scale and capacity.

Bitcoin Unlimited seeks to form a compromise between ABC and SV, asking for a vote between all BCH miners.

>> Ohio Accepts Bitcoin for Tax Payments: A Much-Needed Silver Lining

Winner?

The Bitcoin Cash hash war got pretty ugly between the two leaders of Bitcoin ABC and Bitcoin SV. Bitcoin ABC is strongly supported by major cryptocurrency exchanges and has been from the beginning, giving it a large advantage. Currently, Bitcoin ABC possesses 62% of the BCH network hash rate. Despite the obvious control of the hash rate, Bitcoin SV has sprung up in price and is currently the eighth largest cryptocurrency by total market cap, according to CoinMarketCap. Bitcoin SV is currently trading at $103.25 a coin, up over 150% in just three days.

It seems CoinMarketCap has yet to register Bitcoin ABC. Currently, Bitcoin Cash remains on the index trading at $174.32, down -5.34%. It seems the index is following Bitcoin ABC’s movement under the old Bitcoin Cash (BCH) currency.

Is there a ‘clear’ winner? The hash war isn’t over yet, and Bitcoin SV is gaining some speed with its price, but when it comes to hash power, Roger Ver is winning this duel by a long shot. Sorry, Faketoshi.

Featured Image: Depositphotos/© ChiccoDodiFC

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