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Bitcoin SV

Bitcoin SV Soars 80% | Wright Files “Proof” That He’s Nakamoto

The top ten cryptocurrencies are all in green boasting moderate gains. For example, Ethereum is up 2% and Bitcoin Cash up 4.38%. Leading coin by market value, Bitcoin, is 1.75% in the green, nearing $8,000 USD per coin—much to the excitement of the bulls. However, its hard to ignore the not-so-moderate gains that Bitcoin SV is sporting just outside the top ten.

In eleventh place in terms of market cap, the hard-fork of a hard-fork is up a whopping 79.57%.

The rise is attributed to Bitcoin SV’s founder, Craig Wright, and a poignant move he just made to “prove” he is Satoshi Nakamoto—the original Bitcoin creator.

Bitcoin SV Is Up 80%

Earlier today the controversial figure filed copyright registrations for the Bitcoin whitepaper and the early Bitcoin code with the US Copyright Office.

But his move has already been lambasted, with many in the community considering another fraudulent claim.

For example, Jerry Brito of CoinCenter, pointed out on Twitter, that anyone can register a copyright claim. Doing so still isn’t proof of ownership and neither is recognition by the US Copyright Office itself.

He goes on to say:

The Copyright Office does not investigate the validity of the claim; they just register it. Unfortunately there is no official way to challenge a registration. If there are competing claims, the Office will just register all of them.

Wright has been claiming since 2015 that he is the creator of the world’s largest cryptocurrency. He has, however, been continuously unable to provide hard evidence that confirms it.

As such, he has been slammed across the industry with names such as “fraud” and “Faketoshi”. In response, he has launched a series of lawsuits against those who have doubted him or publicly denied his claims.

However, this caused further industry backlash and led Binance CEO Changpeng Zhao to delist Bitcoin SV from his exchange platform.

Industry Speculation

The debacle will continue and all the while, we still remain unsure who is the real person or persons behind the pseudonym, Satoshi Nakamoto.

>>Bitcoin Price Jumps Again, Now Above $8K Mark

Is he telling the truth? Who could possibly know?

What do you think about Wright’s filing? Do you believe him? Are you shocked to see Bitcoin SV up 80% in response?

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Bitcoin SV

Bitcoin SV Delisted from Binance Amid Craig Wright Controversy

One of the largest crypto exchanges in the world, Binance, has delisted Bitcoin SV (BSV), it announced earlier today. The move comes after a week of controversy surrounding the cryptocurrency’s founder Craig Wright.

Bitcoin SV

Earlier today, the world’s largest crypto exchange by market volume announced it will be delisting all BSV trading pairs on April 22nd. It will continue to support BSV withdrawals, however, until July 22nd.

Binance CEO, Changpeng Zhao (CZ), first threatened the move last week. It came after Wright attacked several Twitter users who said he is not the person behind the pseudonym Satoshi Nakamoto.

Nakamoto

Wright has claimed for many years that he is Nakamoto; however, his claim has been challenged many times over and is widely disputed.

For those who don’t know, Satoshi Nakamoto is considered the creator of Bitcoin. However, exactly who this person or persons is/are remains a mystery. Over the years, several prominent names have been suggested including Elon Musk—who denied the claim.

Twitter Attacks

In recent weeks, Wright has been attacking Twitter users. Amongst these is hodlonaut—the creator of the Lightning Network ‘Torch’. Specifically, Wright placed a bounty on hodlonaut’s identity after he claimed that Wright is not Satoshi.

Binance’s announcement earlier today said that the exchange “periodically review[s] each digital asset we list to ensure that it continues to meet the high level of standard we expect.”

Standards include a team committed to the project, developmental activity, network and smart contract stability, and public communication, among other things.

>> Bitcoin Remains Stable: Crypto Market Capitalization Hits New High

While the exchange alludes that delisting Bitcoin SV is a responsive decision for not meeting Binance’s standards, it is believed that this is only partially the reason. Many assume the coin is being delisted mainly due to Wright’s Twitter attacks.

Following the news, CZ has cemented the latter belief with a series of Tweets in which he refers to Wright as “a fraud.”

Hodlonaut has not been the only victim of Wright’s wrath. The latter has sent legal cease-and-desist letters to other individuals such as Peter McCormack for saying that he is not Satoshi.

Bitcoin SV: Price Plunges

The news has rocked BSV price, which has plunged only hours after the announcement was made. The coin has already shed almost $100 million from its market, with the price below $65 now, down from over $70 earlier today.

Whoever said the cryptocurrency sphere wasn’t a drama-fest?

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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?

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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.

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Bitcoin Cash Hard Fork Controversy

Hard forks and lack of governance were a huge issue during the rise of cryptocurrency back in late 2017. It seems this hasn’t changed in 2018, as we have just encountered a new Bitcoin Cash hard fork controversy.

Hard forks are required for large blockchain network updates and require all nodes running the network to switch over to the new chain at a designated block number. Unfortunately, not every node running the network agrees with the direction of the project and decides to start its own fork with other nodes—creating a new ‘forked’ chain and new digital currency.

Hard fork splits in 2017 brought about the digital currencies Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum Classic (ETC), Bitcoin Diamond (BCD), Monero Classic (XMC), and Monero Original (XMO).

Bitcoin Cash Hard Fork Controversy

On November 15th, Bitcoin Cash underwent its second scheduled protocol upgrade. However, a competing proposal emerged that was not compatible with the original roadmap and caused the BCH community to be split into three fractions: Bitcoin ABC, Bitcoin Unlimited, and Bitcoin SV.

Bitcoin ABC represents the conservative approach to the update, which aims to preserve Bitcoin Cash from radical changes. ABC is led by Roger Ver, CEO of Bitcoin.com. Bitcoin ABC is also backed and represented by Binance, Coinbase, and Bitmain.

>> Bitcoin Hits Lowest Level Again—This Time Last Year Things were Very Different!

Bitcoin SV, or Satoshi’s Vision, was founded last Friday by a blockchain firm that is associated with Craig Wright—who has in the past deemed himself as Satoshi Nakamoto and has often been mocked by the crypto community. Bitcoin SV seeks to increase the block size of BCH from 32MB to a max of 128MB in hopes of increasing the network’s capacity and scale.

Bitcoin Unlimited is a neutral fork and the leaders are looking for a compromise between Bitcoin SV and Bitcoin ABC, asking for a vote between all the miners.

Hash War: Who’s Winning?

Currently, Bitcoin ABC has the most support but Craig Wright isn’t backing down.

This just shows the need for proper governance and voting within these blockchain projects, because this Bitcoin Cash hard fork controversy has become a circus.

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