Blow To Bitcoin Rival As Binance CEO Issues A Stark Warning – Forbes

Bitcoin News

Bitcoin, which has been going through a dramatic price rebound in recent weeks, has throughout its history split due to developer differences over bitcoin’s direction, with bitcoin cash, and its own so-called “fork” bitcoin SV, two of the better-known bitcoin varients.

The bitcoin price has remained stronger than any of these forks, though last year’s bitcoin cash civil war, in which the self-declared creator of bitcoin, Australia-born Craig Wright, threated to crash the cryptocurrency market unless the bitcoin cash cryptocurrency bent to his will, resulted in bitcoin losing almost half its value in a matter of days.

Update: Now, the world’s largest bitcoin and cryptocurrency exchange by volume, Binance, has said it will “de-list” bitcoin SV, striking it from the exchange as of April 22 as it no longer “meet[s] the high level of standard we expect.”

Zhao Changpeng, who is known as CZ, has become a widely respected voice in the bitcoin community.

© 2018 Bloomberg Finance LP

“At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect,” the exchange wrote in a blog post. “When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. Based on our most recent reviews, we have decided to de-list and cease trading on … bitcoin SV … on 2019/04/22 at 10:00 AM UTC.”

The bitcoin SV price fell sharply following the sudden announcement, dropping 12% over the last 24 hour trading period to $60 per bitcoin SV token, according to the latest prices from CoinMarketCap, which tracks most major cryptocurrencies.

Over the weekend the widely-respected chief executive of Binance Changpeng Zhao (often known simply as CZ), warned that his exchange could remove Wright’s bitcoin SV, which split from bitcoin cash when Wright lost the battle for control of the bitcoin fork, if Wright continues to claim to be bitcoin’s creator, the mysterious Satoshi Nakamoto, and attack those who disagree with him.

Binance’s CZ became embroiled in the Wright row after Twitter user and popular bitcoin and crypto commentator @Hodlonaut popularised the hashtag #CraigWrightIsAFraud, causing Wright and his bitcoin SV partner Calvin Ayre to try to discover @Hodlonaut’s real identity with the presumed intent of silencing him through legal means.

“Craig Wright is not Satoshi,” CZ tweeted. “Anymore of this sh!t, we de-list [bitcoin SV]!,” he wrote in response to a Bitcoin Magazine tweet claiming the attack on @Hodlonaut is an attack on all bitcoin and cryptocurrency users and fans.

The bitcoin SV price, which has been on a downward trend since it split from bitcoin cash six months ago, has failed to rally along with the wider market over the last two weeks.

While the bitcoin price has gained some 25% since April 1, bitcoin SV has gained just 9%. Some smaller bitcoin alternatives have risen by almost 200% over the same period, as a rising tide of cryptocurrency sentiment lifts most boats in the harbor.

Bitcoin SV is down by almost half its value, dropping from over $110 to just $60, since late November when it broke away from bitcoin cash.

Binance’s CZ has repeatedly called on Wright to prove he’s the creator of bitcoin or stop claiming to be.

Twitter / @cz_binance

Last night, Binance’s CZ doubled down on his threat to Wright and bitcoin SV, calling on him to “digitally sign” a message using the private key from the original bitcoins mined by Satoshi Nakamoto to prove he has access to them, as the real Satoshi would.

“I don’t choose sides on technology,” Cz added. “We let market do that. I am against fraud, such as lying to be someone. As such, it is my strong opinion that: Craig Wright is fraud.”

Wright’s attack on @hodlonaut has prompted many Twitter users to adopt their name and the image created by @CryptoScamHub to honor them.

Meanwhile, @Hodlonaut has since deleted their Twitter account though a crowdfunding effort to raise funds to cover any of @Hodlonaut’s potential legal fees has already surpassed its goal, attracting almost $30,000 at the time of writing.

https://www.forbes.com/sites/billybambrough/2019/04/15/binance-ceo-dramatically-throws-down-the-gauntlet-to-struggling-bitcoin-rival/

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