Bitcoin SV Supporters Hit Back at OKCoin Delisting

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  • Bitcoin SV supporters have hit back at the decision by OKCoin to delist the BSV token
  • Okvoin said last week that they would stop supporting it on March 1
  • Calvin Ayre claimed the move was “the stupidest business decision I have seen”

Bitcoin SV supporters have hit back at OKCoin after the OKEx partner exchange announced last week that it was delisting the BSV token, alongside Bitcoin Cash (BCH). OKCoin gave two reasons for its dual delisting – firstly it was worried that newcomers could be confused between the different Bitcoins because Bitcoin Cash and Bitcoin SV kept referring to themselves as ‘Bitcoin’, and secondly because of Craig Wright’s recent attempted coup over the Bitcoin name through his legal challenges regarding the Bitcoin whitepaper. While the Bitcoin Cash crowd didn’t really bat an eyelid at the OKCoin delistings, the Bitcoin SV crowd were noticeably upset with the development, but went out of their way to pretend that they weren’t.

Ayre Criticizes “Stupidest Business Decision”

BSV backer Calvin Ayre, who is thought to be stepping away from the project this year (potentially to go and just burn piles of cash on a bonfire instead), described delisting BSV as potentially being “the stupidest business decision I have seen”. This is quite a statement coming from the man who has poured millions into Bitcoin SV only to watch its valuation crumble to ever-decreasing lows against Bitcoin.

Ayre’s assessment also doesn’t stand up to reason. BSV trading accounts for about $100,000 in 24-hour volume on OKCoin, and with the average trading fee being 0.15%, OKCoin is therefore making about $150 a day from facilitating BSV trading. This means that they are probably running at a loss when operational costs are taken into consideration, although clearly Ayre is so used to losing money with BSV that he probably thinks it’s what you’re supposed to do.

Bitcoin SV Ecosystem “Bigger Than Any One person”

A statement from the Bitcoin Association (don’t be fooled by the name, they’re nothing to do with the real Bitcoin, just Bitcoin SV) claimed that “Bitcoin Association and our membership, as well as the wider Bitcoin SV ecosystem, go to great lengths to distinguish between BSV and BTC.” This is clearly rubbish, as Bitcoin SV acolytes are constantly referring to BSV as Bitcoin because that’s what they think it is (or what they’ve been told to think it is).

The Bitcoin Association also “respectfully disagrees with the secondary reasoning” regarding Craig Wright’s antics, stating that “the global Bitcoin SV ecosystem is far bigger than any one person.” Someone should tell Craig Wright that – in between desperately trying to prove he made the thing he now wants to destroy he doesn’t seem to have got the message.

OKCoin is due to delist BSV and BCH in March 1, and it doesn’t see like any entreaties on the part of the Bitcoin SV community is going to change that.