Bitcoin SV has been around for about ten months. The coin has been delisted from several trading platforms and has also faced several legal battles, including one that alleged its creator, Craig Wright, purportedly tried to cheat his dev operator out of a bitcoin inheritance according to court documents.
Bitcoin SV Has Garnered a Mixed Reaction
However, CEO of nChain Jimmy Nguyen recently offered his thoughts on the currency and says that despite all the negative press, the network for the coin is growing exponentially. Jimmy is well associated with Craig Wright considering the latter serves as the “chief scientist” for nChain.
Bitcoin SV is the “child” of bitcoin cash. The original currency underwent a serious hard fork in late 2018 which saw to the release of bitcoin SV. That coin has received a rather mixed reception upon its arrival, with several crypto industry experts (i.e. Roger Ver and Craig Wright) going for each other’s throats regarding which coin they saw as more valuable: bitcoin cash or bitcoin SV.
Nguyen isn’t worried and says things like the latest lawsuit between Craig Wright and Ira Kleiman have done little to affect the currency’s overall stamina. He comments:
If anything, it validates that Craig was involved… There has been a lot of news about it, but BSV’s price is relatively stable. I think that’s because there’s a recognition that BSV is bigger than Craig Wright or any one person. We are supposed to scale and create the original vision for what bitcoin is supposed to be. There’s a lot of people working in the space beyond Craig.
At the same time, Nguyen does acknowledge that Craig Wright’s actions in the past have altered BSV’s patterns to one extent or another. Discussing the currency’s pattern of being delisted from cryptocurrency exchanges, he states:
The big lesson we’ve learned is how the cryptocurrency world needs to grow up and professionalize. The delisting decision by Binance and Kraken and other exchanges highlights this because it’s clear the decision to delist has nothing to do with BSV or its network. It all had to do with dislike of Craig Wright, a key backer of BSV, and his choice to invoke legal remedies and to pursue libel claims against people who he believes have been defaming him online.
This Was Just a Power Trip
He says that in the end, the delisting process was the result of cryptocurrency trading platforms seeking to show power. While the idea behind digital assets is that they should be decentralized, several exchanges sought to invoke their authority with steadfast precision. He claims:
I also think the situation created a learning moment for cryptocurrency. I get it; Craig Wright is provocative. I also say that you don’t change the world without being provocative.