Binance is Playing a Crypto God. BCHABC Skyrockets After it De-lists BCHSV
In an industry jolting move, the CEO of the largest crypto exchange Binance today announced de-listing of Bitcoin Cash Satoshi Vision (BCHSV0 - a Bitcoin Cash fork that took place last November.
The fork of Bitcoin Cash in November that resulted in two coins viz. BCHABC & BCHSV was no less a drama. The drama king Craig Wright proclaims himself as the real Satoshi Nakamoto (mysterious Bitcoin inventor) and forked the chain to create Bitcoin Cash Satoshi Vision (BCHSV). However Craig Wright could never substantiate his claims of being the real Satoshi Nakamoto.
There have been several evidences that indicates that he keeps trying to manipulate and forge his online identity (e.g. by editing his past forum posts) to create an illusion that he is the real Satoshi. But most people clearly understand him as a fraud who is wrongly and fraudulently trying to prove himself as Satoshi for years.
For some days, Binance CEO CZ was hinting to de-list this con-artist led BCHSV from his exchange. Earlier today, CZ clearly mentioned "Craig Wright is fraud." when he retweeted Peter McCormack's response to a letter by Craig's lawyers which was being used to bully him for defaming Craig Wright:
Seeing this tweet, I was almost certain that Binance will de-list BCHSV soon. I even tweeted about it:
A few hours later Binance officially announced de-listing BCHSV within one week period.
Is Binance playing God of cryptocurrencies?
Here I'm not taking sides of Craig Wright. I'm convinced that he is a fraud. But I can't say the same about BCHSV.
I'd like BCHSV to stay as a bigger block size model for Bitcoin as an alternative to Lightening Network of BTC or Atomic Swaps of BCHABC. Let the time tell what succeeds or which model works best out of these. Everything can co-exist in a decentralized industry
Of course, Binance is free to take any decision for themselves and it shouldn't affect the existence of any coin per se. But the sheer market size of Binance moves the whole crypto industry today.
To me, this incident proves how centralized crypto industry has become today. It reminds me of the days of Mt. Gox.
Soon after the announcement of de-listing of BCHSV on Binance, the prices of BCHSV plummeted by about 12% and on the other hand BCHABC rose by about 12% to reach $325.
Not only this, following Binance's footsteps, many other crypto exchanges are announcing de-listing of BCHSV now:
Here is an example by CEO of Shapeshift:
Others like Kraken has initiated a poll to help them decide on the de=listing:
The way many exchanges and the market is reacting, it's very probable that BCHABC may surpass its All Time High soon! But perhaps that's how the markets work!
What surprised me was the fall in BNB prices even though its Q1 coin burn event is closer now. Does this mean, Binance customers are not happy with this de-listing and it's their way to show some displeasure?
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