Vitalik Buterin Claims Bitcoin SV Is “A Complete Scam” And Discusses Binance Influence

· 05 Jun 2019 in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

During a recent conversation with YouTuber Hardcore Crypto, the co-founder of Ethereum (ETH) talked about Bitcoin SV (BSV) and Binance. About the digital asset backed by Craig Wright, he mentioned that it is a scam. Moreover, he has also evaluated Binance’s decision to delist BSV from its platform.

Vitalik Buterin Against Bitcoin SV

Ethereum’s creator has always been against Bitcoin SV, which is currently the 8th largest digital currency in terms of market capitalization. Bitcoin SV was created as a hard fork of Bitcoin Cash in November 2018. Bitcoin Cash was backed by Roger Ver and Jihan Wu, while Bitcoin SV received support from Craig Wright and Calvin Ayre.

During his conversation with Hardcore Crypto, he said hat Bitcoin SV is a complete scam. He has also mentioned that BSV delisting from Binance was also interesting because it shows that the exchange is a decentralized and powerful organization.

About it, he mentioned:

“Obviously BSV is a complete scam, but the delisting from Binance, that was interesting. There are arguments in favour of it, but then there’s also an argument that this is a centralized exchange that’s wielding a lot of power.”

Binance is one of the largest and most popular cryptocurrency exchanges around the world with a trading volume in the last 24 hours of $2.32 billion.

Vitalik Buterin has also been attacking Bitcoin SV in the past for the way in which it proposed the improvements to the Bitcoin network. The co-founder of Ethereum mentioned that he is also a critic of Bitcoin and how it currently works with Proof of Work (PoW) but he said that BSV is a “pure dumpster fire.”

Bitcoin SV has 128 MB blocks because Craig Wright and his followers believe that the best thing to do is to scale Bitcoin with on-chain improvements. This is why they are also planning to have 2 GB blocks during the third quarter of the current year. However, Buerin said that these large blocks are an “insanely stupid idea” and that he does not know which is the vision of BSV.

At the time of writing this article, BSV has a market capitalization of $4.15 billion and a price per coin of $232. During the last few weeks, BSV was able to achieve a very large price increase from under $100 to the current values.

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