Crypto Bigwigs Call to Boycott Bitcoin SV amid Lawsuit Controversy
Leading figures in the cryptocurrency industry have called to boycott Bitcoin SV, a blockchain project created by Dr. Craig S Wright.
Crypto celebrities, including Morgan Creek’s co-founder Anthony Pompliano and celebrated bitcoin activist Charlie Shrem, requested exchanges to delist Bitcoin SV’s native token BSV. In his tweet published April 13, Shrem called Bitcoin SV a “scam,” and Dr. Wright “scammer,” hinting that the project deserved to die.
“I’m surprised BSV is even listed anywhere. It’s an obvious scam controlled by an obvious scammer,” Mr. Shrem said. “It goes against the reason we are here in the first place. Delist BSV from all exchanges and let it die. #DelistBSV. Long live #bitcoin.”
In surprised BSV is even listed anywhere. It’s an obvious scam controlled by an obvious scammer. It goes against the reason we are here in the first place. Delist BSV from all exchanges and let it die. #DelistBSV. Long live #bitcoin
— Charlie Shrem (@CharlieShrem) April 13, 2019
In another tweet published the same day, Mr. Pompliano shared a similar anti-BSV sentiment. The crypto commentator asked exchanges to show solidarity with the Bitcoin community and delist BSV on May 1.
“This community is the responsibility of the people. Sometimes we must do the hard thing, not because it is easy, but because it is right,” added Mr. Pompliano.
Every exchange should delist BSV simultaneously on May 1st in a sign of solidarity behind the only Bitcoin that ever mattered.
This community is the responsibility of the people. Sometimes we must do the hard thing, not because it is easy, but because it is right.#DelistBSV
— Pomp (@APompliano) April 12, 2019
The demand followed Dr. Wright’s threat to sue an independent cryptocurrency developer for writing against his claims about being Satoshi Nakamoto, the Bitcoin’s anonymous creator.
SCA ONTIER LLP, the law firm representing Dr. Wright, sent a legal letter to Twitterati HODLONAUT, demanding that he retracts his statements and apologize to their client. The letter further accused HODLONAUT of representing Bitcoin Cash, Bitcoin SV’s outward rival.
A similar letter was sent to What Bitcoin Did podcaster Peter McCormack who called Dr. Wright and his staunch supporter Calvin Ayre frauds.
“I believe that claiming to be Satoshi and promoting a fake version of Bitcoin is fraudulent. I believe this is in the public interest,” said Mr. McCormack. “Let’s go to court.”
1/ So I got my letter from Craig Wright and @CalvinAyre. This is what they are sending out to people, now you can all see.
I absolutely reject their requirements.
(PS I don't recommend anyone else does this). pic.twitter.com/olpLUdwDyM
— Peter McCormack (@PeterMcCormack) April 12, 2019
Things turned serious for Bitcoin SV when CoinGeek, the crypto blog supervised by Mr. Ayre, announced a BSV-enabled reward worth $5,000 for anyone who discloses HODLONAUT’s true identity. In a tweet made yesterday, Binance CEO Changpeng Zhao threatened to delist BSV pairs from its global cryptocurrency exchange. The clear message sparked a community movement to abandon BSV as a whole.
BSV Price Falling
The anti-Bitcoin SV sentiment could soon start reflecting on its market. While the BSV/USD instrument is merely tailing the overall crypto market trend – a bearish correction – its likelihood of extending its medium-term bullish momentum can be less.
Bitcoin SV (BSV/USD) in Bearish Correction
Since the lawsuit fiasco began, the BSV/USD instrument dropped by as much as 18.25 percent. The pair is now testing support at its 50-DAY moving average curve. A breakout towards the downside would make it rather difficult for it to make a healthy return. And if all the exchanges ended up delisting BSV, there is a high probability that the token will breakdown.
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