Bitcoin [BTC] developer Jimmy Song lists 3 reasons why Bitcoin SV [BSV] is a “scam”

Bitcoin SV [BSV] has been met with a host of varied opinions from the global cryptocurrency since it emerged three months ago, from being lauded as the true vision of Satoshi, to being called a “dumpster fire,” BSV has seen it all.
Recently, Jimmy Song, a developer of the top cryptocurrency Bitcoin [BTC] and author of the book, “Programming Bitcoin,” called BSV a “scam” and listed out three specific reasons for his conclusion, via a video on his YouTube channel, “Off Chain with Jimmy Song.”
He starts of the video by referencing the Twitter trolls who tout that Bitcoin SV is the more principled coin that wants to achieve the true vision of the founder of Bitcoin, Satoshi Nakamoto. Song, lays all these claims to bed, citing his three reasons, which come under the overarching theme of:
“Bitcoin SV is clearly, clearly, a scam.”
The primary reason for Song’s attack is, Craig S Wright, the Chief Scientist at nChain and the biggest backer of the BSV project. During the November 2018 hardfork, which eventually resulted in BSV splitting from Bitcoin Cash [BCH], Wright came out in fierce support of what he envisioned as the vision of Satoshi. He even claimed that he is the, “real Satoshi,” a rallying cry that he touts even today.
Song’s opinion on Wright, however, is unwavering:
“He’s (Wright) a known scammer, he’s never produced a signature as Satoshi. He’s claimed to be Satoshi from the very beginning, he hasn’t produced anything of note. He hasn’t coded anything, he says ridiculous stuff. He uses only social signalling. He doesn’t provide any proof of anything. And, the guy has been a con-artist for a very long time.”
Craig S Wright, recently went on a tirade about how he, “was Satoshi,” for which he received a lot of flak from the crypto industry. Known for being very verbal on Twitter, Wright even got into a heated dispute with Wikileaks, which he brands a “fakenews cesspool.”
Wikileaks did not take things lying down, the news organization claimed and even produced evidence of Wright editing a blog post from August 2008, which he wanted to use to prove that he was involved in cryptocurrencies over a decade ago. Wikileaks, and many in the crypto-community labeled Wright as “faketoshi” since, a label that Song would approve of.
Song cites the lack of development coming from the Bitcoin SV camp as the secondary reason for the coin being a scam. He stated:
“You can look at their GitHub, they’ve done nothing over the past two months. They are not really trying to fix anything. They apparently have some sort of private development. They do not accept any pool requests, they are not into open source. It’s anything but a secure protocol. At some point, I expect them to release a full node software or something like that that is straight up malware. They don’t do any open source, they are not doing any development, they are not progressing.”
Craig Wright is the spearhead in the BSV application process, whom Song refers to in this jibe as a “con-artist.” The nChain executive has formulated ideas of applying the Bitcoin SV blockchain into the realm of online peer-to-peer payments and to use the BSV wallet as a smart card authenticator, which can be used to verify passports.
The third reason for Song’s disavowing Bitcoin SV, is the attitude emanating from the BSV camp, particularly from their major proponents, Craig S Wright, and Calvin Ayre. He described their behavior as “peculiar,” and referenced the fight for control during the hardfork, which he called a “crapfest with Bitcoin ABC.”
He added:
“The fact that they continued to fight, and use their money to try to prop up this useless coin, it should tell you volumes about what they’re trying to do. They want to control their own money, and they have enough of an ego to think that people will just follow them if they go.”
Jimmy Song further questioned why influencers like Daniel Krawisz and Kevin Pham have gone to the BSV camp. He believes that they, “might be getting paid-off,” however he states that he has no evidence to prove the same.
The Bitcoin developer concluded:
“Bitcoin SV is a scam, it is not Satoshi’s Vision, it should just be Scam Violence… it’s just a ridiculous coin, that is why I’m opposed to it. I hope I’ve made myself clear.”
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Source: AMB Crypto

Bitcoin SV [BSV] spearhead Craig Wright predicts dire future for altcoin market

In the midst of the so-called, “crypto-winter,” which has slashed off nearly $100 billion from the collective market cap and with many proponents advocating that only one real cryptocurrency exists i.e. Bitcoin [BTC], Craig Wright has foreseen a dark and dismal future for the altcoin market.
The Chief Scientist at nChain and spearhead of the Bitcoin SV [BSV] project has stated, via a tweet, that by June 2020 the altcoins market will begin to be, “culled,” as their leaders either abscond from their projects and flee or will eventually land up in prison.
His tweet read:
“In the next 18 months, the blood flows. Alt coins start to be culled as the “decentralized” leaders are imprisoned one by one or flee on the lamb for financial fraud and associated crimes”
Furthermore, he picked out two coins pegged as bastions of anonymity and increased secrecy, Monero [XMR] and Zcash [ZEC], and stated that the aforementioned two coins will be charged with fraudulent tax crimes.
The following thread to the above tweet read:
“Those thinking ZCash, Monero etc are even remotely anonymous will start being changed with tax evasion”
Wright further added, in reply to a comment on one of his tweets that he will present the findings of the above prediction later in the year. He also stated that the law enforcement authorities can monitor payments even when it is through “privacy-centered” coins like Monero and Zcash.
In his own words:
“Very I present it later in the year. 
The method is developed Law enforcement can monitor without informing you”
At press time, the top cryptocurrency Bitcoin holds 52.7 percent of the global cryptocurrency market accounting for a market cap of $63.84 billion. The altcoin market poses a market cap of $57.33 billion, an increase of 10.41 percent, compared to last week’s valuation of $51.92 billion.
Despite accounting for a mere 1.93 percent of the global altcoin market capitalization, Bitcoin SV [BSV], Wright’s cryptocurrency project, has recently been booted out of the top-10 last week, following a remarkable rise by Binance Coin [BNB]. BSV now finds itself occupying the eleventh spot on the global coin chart, with a market cap difference of more than $290 million against BNB.
Wright also landed in a bit of controversy yet again when he furthered his earlier claim that he was the “real Satoshi.” Following this claim, he got into a Twitter spat with Wikileaks, calling the website a “fake news cesspool” and comparing its founder Julian Assange to Ross Ulbricht, the man behind Silk Road.
Wikileaks also hit back at Craig Wright, stating and providing evidence that the nChain executive edited an August 2008 blog, adding a sentence to portray that he had been working in the cryptocurrency realm since then.
Twitter users have since voiced their support for Wright’s prediction, with Enrico Rusticali stating:
“Lower markets prices have triggered rumblings of discord and internal stress in the various foundations. Rumors abound. Fiscal discipline does not go hand in hand with easy money schemes. I agree on the time line.”
Paul ‘P.H.’ Madore stated:
“Someone has said this everyday since 2014. Bitcoin maximalists insist on it. They still aren’t right.”
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Source: AMB Crypto

Bitcoin SV [BSV]: Coinbase releases cryptocurrency while allowing users access to external wallets

The American cryptocurrency exchange Coinbase will now allow its Bitcoin SV [BSV] holders to withdraw the coin to external wallets, as confirmed by an updated blog post on the exchange’s website.
Many exchanges announced the dissemination of the Bitcoin SV, after the coin hardforked from Bitcoin Cash [BCH] towards the end of 2018. However, the American exchange held off the announcement for three months. In light of the above, Coinbase Support recently tweeted:
“We have now begun emailing customers that held Bitcoin Cash (BCH) at the time of the hard fork with instructions on how to withdraw their corresponding Bitcoin SV (BSV).”
Bitcoin SV [BSV] has been on a steep decline since the coin was introduced in mid-November 2018, following the hardfork and hash war drama that drew in the likes of nChain’s Craig Wright, Bitcoin.com’s Roger Ver, and Bitmain’s Jihan Wu.
The coin is currently languishing in the eleventh spot on the global coin rankings, booted out of the top-10 by Binance Coin [BNB] one week ago. With Coinbase now releasing Bitcoin SV tokens to users that held Bitcoin Cash prior to the hardfork, a massive Bitcoin SV dump might ensue, leading to a further decline in the price of the coin.
With reference to the BSV still held, the exchange stated:
“As such, the amount of BSV now available in respective customers’ Coinbase.com accounts is the same as the amount of BCH that was in their Coinbase (Coinbase.com and Coinbase Pro) account at the time of the hard fork.”
Coinbase has however reaffirmed its lack of support for BSV trades and stated that the customers cannot sell the virtual currency on the exchange. A statement released on February 14 read:
“Coinbase does not support purchases or sales of BSV, so customers cannot sell their BSV for fiat currency on Coinbase. They may send their BSV balance to an external wallet.”
Coinbase Support also stated that users can choose to hold their BSV tokens as there is no deadline for withdrawing the coin:
“There is no deadline for withdrawing BSV so you can hold it in your wallet indefinitely.”
At press time, Bitcoin SV is one of the few coins in the top-15 that have declined against the US dollar, with the token down by 0.89 percent and now posting a price of $62.91. Despite the fact that the feared dump hasn’t materialized, a continuing bear run does not rule the prospect out. A twitter user @Sop, voiced what many think will eventually happen:
“BSV dumping will start in coming days…”
The move hasn’t been welcomed by all with some Twitter users displeased at Coinbase and their lack of support for Bitcoin SV, with a user @Janopetsa tweeting:
“This whole BSV situation has tainted my view of. Coinbase and crypto on the whole. It’s just just not a viable alternative to fiat and real assets. This is proof.”
The post Bitcoin SV [BSV]: Coinbase releases cryptocurrency while allowing users access to external wallets appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin SV [BSV]: Jimmy Nguyen says stability is key; hardforks a thing of the past

Bitcoin SV [BSV] emerged in November 2018 after a messy hardfork with Bitcoin Cash [BCH], with supporters of the coin claiming that it is the only, “project that follows the original Satoshi Nakamoto whitepaper.” Now, spearheads of the project are gunning for mass adoption with their new “No Limits” approach.
Jimmy Nguyen, the CEO of nChain, founding president of the bComm association and a major proponent of Bitcoin SV stated that the BSV camp has been pushing several boundaries, primarily on the data size limit, applicability and scalability front.
In an interview with Coingeek, Nguyen stated:
“It’s real validation for us that the path we chose to follow with Bitcoin SV, the Satoshi Vision, lifting the limits, letting it scale as big as possible, was right, and developers would think of amazing new usages of Bitcoin if you just give them the potential unlimited power to do so.”
He stated that one of the biggest changes for the blockchain was the expansion of OP_RETURN, which would allow the network to carry larger data, without splitting the coin. This was done through a consensus among the miners. Nguyen added that this would make BSV the “world’s new data carrier network,” so that the blockchain can store and transmit data.
Bitcoin SV was in the news last week when an illegal picture was floated on the coin’s network. This was an unfortunate event which was addressed by top members of the BSV camp, including Nguyen and nChain’s Chief Scientist Craig Wright, who stated that the issue was not limited to just BSV but, is true for Bitcoin and Ethereum as well.
This change in protocol, Nguyen believes, will allow Bitcoin SV to be a Dropbox of sorts, where variable data, in terms of type and size can be stored and transmitted. He added that this would open a host of opportunities for the larger market,
“If I’m a big enterprise, one of the things I’d be thinking about are, what kinds of data could I store on the Bitcoin SV blockchain that I’d want to be able to pair with the ability to access, or give access to that data to other people, in exchange for micropayments. Instead of having large volume fees, you could individualize the access to data. And I think that opens up a whole new world of business models.”
Quite ironically, the nChain executive believes that hardforks are redundant for the future of cryptocurrencies, as this takes away stability. The emergence of Bitcoin SV was quite contentious as it led to a hashwar between the two feuding camps, each backed by heavyweights of the cryptocurrency industry.
In light of this, Nguyen added,
“Restore the original Satoshi protocol, keep it stable, leave it alone. Lift the limits and let developers build on top of the chain and that will unleash creativity with no bounds.”
Scaling is no doubt a prime focus for the coin with their new 0.1.1 version focused on “massive scaling,” as confirmed by the node team. The goal is to achieve consistent 64MB blocks, with the aim for 2019 to push for 512MB blocks and 1-2GB blocks in the coming years. Eventually, the goal will be to not have any block size cap, with the size configured by miners.
Nguyen concluded:
“The plan is, on Bitcoin SV, to raise the default block cap to 512MB as another step towards getting to 1GB to 2GB in size. And one day, much like Op Return, no limits. I think that’s our message. We believe in Bitcoin, #NoLimits.”
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Source: AMB Crypto

WikiLeaks Blasts Craig Wright: Serial Fabricator who Claims to be the Inventor of Bitcoin

WikiLeaks took to Twitter to blast the self-proclaimed Satoshi Nakamoto, the anonymous founder of Bitcoin (BTC) and Chief Scientist at nChain, Craig Wright. Initiated in 2006, WikiLeaks is an international non-profit organization that publishes classified media and secret information provided by anonymous sources.
“Serial fabricator who claims to be inventor of Bitcoin, Craig S. Wright, now claims that Bitcoin was always pro-state and that he always worked for the prosecution, as he tries to raise money for business project and escape court action.”
Back in 2017, WikiLeaks founder Julian Assange claimed that his organization made 50,000 percent return on Bitcoin after investing in the leading cryptocurrency in 2010. It has been all thanks to the US government as Assange said the government forced the payment companies like MasterCard and Visa to carry out “an illegal banking blockade” against the organization.  
Bitcoin was Like a Child to Me: Bitcoin SV’s Craig Wright
This time, Wikileaks hit back on Craig Wright after he wrote a new blog on Medium where he stated that he is the one who created Bitcoin and it “was like a child to me.”
In his blog post, he stated his negative stance on WikiLeaks,
“I do not like Wikileaks, and I have never been a fan of Assange’s methods. More importantly, I am strongly opposed to criminal markets and bucket shops. Ross Ulbricht and others like him are criminals. They are not freedom fighters, they are not libertarians. They simply are predators, and they are all that Bitcoin was designed to make far more difficult.”
Twitter Feud Escalates
In response, WikiLeaks hit back with,
“Craig S. Wright is a proven serial forger of documents claiming that he is the inventor of Bitcoin. He has been repeatedly caught. This has been independently verified by WikiLeaks at the time of his first claim and subsequently.”

Well, it didn’t go down well with Craig Wright who took to Twitter to say this,
“Fake and fabricated news site that I wanted not to have anything to do with Bitcoin makes up more lies. Sorry, this is again, more fake news from Wiki – the lie factory that lies on how it promotes truth.”

And this one, “Do you know what good has come from Wiki leaks…Nothing. They are a fake news cesspool.”
The post WikiLeaks Blasts Craig Wright: Serial Fabricator who Claims to be the Inventor of Bitcoin appeared first on Coingape.
Source: CoinGape

Bitcoin SV [BSV] Price Analysis: Bulls look to spark rally pushing the coin into the top-10

Bitcoin SV [BSV], the Bitcoin Cash [BCH] hardfork, was pushed out of the top-10 list last week, courtesy of Binance Coin’s [BNB] remarkable rise. While the coin’s chief advocate, Craig Wright proclaims to be the real Satoshi Nakamoto, BSV has been slipping on the coin charts, despite the bullish market conditions.
At press time, the coin has managed to edge up against the US dollar by a mere 1.29 percent and is now priced at $65.69, with the market cap of the coin pegged at $1.15 billion.
In terms of exchange dominance, the coin’s highest trade volume is taken by the exchange IDCM, which holds $5.59 million or 9.43 percent of BSV’s trading volume in the trading pair BCHSV/USDT. Following closely behind are Bit-Z and DragonEX, with 8.13 percent and 7.74 percent held in the trading pairs, BCHSV/BTC, and BSV/USDT.
1-hour:
Source: Trading View
The one-hour chart shows two prominent uptrends followed by some stabilizing movement for the coin. The coin first shot-up from $63.15 to $68.86, followed by a successive rise from $64.75 to $67.42, after which the coin has been stable around $64.82 to $66.91.
Bitcoin SV has an immediate support level of $64.5, which the coin is currently trading above. The immediate resistance level of the coin stands at $67.59, which the coin touched earlier this week.
The Bollinger Bands points to decreased volatility as the price of the coin is relatively stable, while the Moving Average line points to a bullish trend.
The Chaikin Money Flow tool shows that the money put into BSV coins has been increasing since 11 February, but the recent trend shows a mild decline, with the CMF line heading for 0.
The MACD line shows that the coin has been in a bullish zone since the start of this week.
1-day:

The one-day chart shows that the coin has been on a downward slope since mid-December, but the recent signs point to an upward swing. The coin’s downtrend stretched from $114.87 to $68.43, with the current price below the same.
Bitcoin SV finds immediate support at $61.14, which the coin dipped below last week. The immediate resistance level of the coin stands at $68.89, with the current price of the coin nuzzled below.
The Parabolic SAR points to a bullish trend for the coin as the dotted lines are aligned below the coin’s trend line.
The Fisher Transform line show that the coin is in a bullish zone as the Fisher line has overtaken the Trigger line.
The Awesome Oscillator shows that the coin is trading below 0. However, the closing bars are marked green, pointing to upcoming bullish activity for the coin.
Conclusion:
Bitcoin SV has been increasingly trying to push its prices up, following a bearish market for the coin that has persisted since the close of the previous year. The coin has been pegged behind Binance Coin, with a market cap difference of over $150 million, but the short-term indicators show a bullish rally for the coin. In the long-term, however, the coin has been going through a stable patch with the recent signs indicating an upswing for the coin. If the market does turn in the favor of Bitcoin SV, as surrounding coins see a market correction, BSV could well move back into the top-10.
The post Bitcoin SV [BSV] Price Analysis: Bulls look to spark rally pushing the coin into the top-10 appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin SV’s [BSV] Craig Wright hits back at WikiLeaks as Twitter feud escalates

Craig Wright, the Chief Scientist at nChain and self-proclaimed Satoshi Nakamoto, the anonymous founder of Bitcoin [BTC], has long held a deep distaste for WikiLeaks and its founder Julian Assange. The organization has now hit back following Wright’s latest tirade on Twitter.
Julian Assange has long been a fanboy of the world’s premier cryptocurrency, Bitcoin. Back in 2014, during a Reddit Ask Me Anything (AMA), the founder of Wikileaks said that he held a lot of Bitcoins, calling it a “fascinating and complex subject.”
He said,
“There’s lots on bitcoin in my book – on my thoughts on it, and on WikiLeaks’ history with it. [Google’s] Eric Schmidt and I conversed for a while about it, and I also included a lot of notes to expand on my views. It’s a fascinating and complex subject, so I can’t possibly go through all of it.”
Assange has also reaped the success of the volatile digital asset, claiming that he invested in Bitcoin [BTC] back in 2010 after the US government placed, “an illegal banking blockage” against Wikileaks, preventing the public from using traditional payment services like Visa, MasterCard, and PayPal to donate to his organization. This made Assange turn to Bitcoin and he claimed his investment has soared by 50,000 percent since, posting a 7-year price chart of the top cryptocurrency in a tweet to show its rapid increase.
Craig Wright has always argued against the use of Bitcoin for criminal activity and he claims that WikiLeaks operates in similar circles. In a recent blog post titled, “Careful what you wish for,” he came out as the original Satoshi Nakamoto and voiced his negative stance against WikiLeaks.
He stated:
“I do not like WikiLeaks, and I have never been a fan of Assange’s methods. More importantly, I am strongly opposed to criminal markets and bucket shops.”
Wright even likened Assange to Ross Ulbricht, the American behind Silk Road on the Dark Net, which was the online marketplace for drugs, weapons, human trafficking and all other illicit and illegal activities. Early on, Bitcoin rose to prominence as being the currency of choice for criminals on Silk Road, a point which Wright still advocates against.
Following Wright’s verbal tirade against Wikileaks, the organization responded, calling the nChain Chief Scientist a “serial fabricator.” They stated,
“Serial fabricator who claims to be inventor of Bitcoin, Craig S. Wright, now claims that Bitcoin was always pro-state and that he always worked for the prosecution, as he tries to raise money for business project and escape court action.”
Wright, who is known to fight back, did not take things lying down as he launched a series of tweets directed at both WikiLeaks and Assange, calling the latter a “rapist,” owing to allegations that were made by the Swedish Prosecution Authority, which have since been dropped.
Craig Wright tweeted,
“Fake and fabricated news site that I wanted not to have anything to do with Bitcoin makes up more lies. Sorry, this is again, more fake news from Wiki – the lie factory that lies on how it promotes truth.”
He further called the organization,
“Yes, this absolute shit hole of a “news site” run by fools…
And they thing this quote means I liked them. What tools.”
Wright’s verbal jabs did not stop however,
“And… ow WikiLeaks it burns… being called names by a group of criminals founded by a rapist
Oh, how terrible we feel.
Oh no, a group founded by a Rapist does not like me”
And finally,
“Do you know what good has come from Wiki leaks…
Nothing.
They are a fake news cesspool”
The post Bitcoin SV’s [BSV] Craig Wright hits back at WikiLeaks as Twitter feud escalates appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin SV [BSV] Price Analysis: Token looks to break resistance as bulls push for consistency

Bitcoin SV [BSV] closed last week out of the top 10, being ousted by long-term rival Binance Coin [BNB] as the market rose by $9 billion to send major coins into a frenzy. The now eleventh-largest cryptocurrency is still reducing while competing coins like BNB and Cardano [ADA] are on the rise.
The coin has declined by 1.23 percent against the US dollar and is now selling for $65.75, while the coin’s market cap stands at $1.15 billion, $169 million ahead of Cardano.
In terms of exchange dominance, BW took the top spot with $24.08 million or 28.45 percent of BSV trading volume in the BSV/USDT trading pair. Following up is IDCM and Bit-Z with 6.19 percent and 6.1 percent via the trading pairs BCHSV/USDT and BCHSV/BTC.
1-hour:
Source: TradingView
Bitcoin SV was pushed significantly high during a brief boom last week, but has managed to sustain it and push the prices up this week too. The uptrend stretched from $59.01 to $69.53 and was then pegged down from $69.32 to $63.04.
The coin’s immediate support level stands at $64.5, which the coin touched mid-week and is now trading below, while the coin’s immediate resistance stands at $67.57. The aforementioned levels are quite close indicating stable movement for the coin at $58.14.
The Parabolic SAR points to a bullish swing for the coin as the dotted lines are aligned below the coin’s trend line.
The MACD line shows that the coin broke into a bearish zone on 8 February. However, recent movement has been bullish.
The Relative Strength Index shows that after the bullish high raised the RSI to 69.42, it has been on a slight decline. At press time RSI was at 56.71.
1-day:
Source: TradingView
The coin has been riding a downtrend since mid-December, with no recovery in sight. The downtrend, as it stands, extends from $115.63 to $68.35. Prior to this downtrend, the coin enjoyed two short uptrends, the first from $58.35 to $108.36 and the next from $74.26 to $114.27.
Bitcoin SV finds immediate support at $61.98, which the coin has breached since last week’s mild decline. The immediate resistance level of the coin stands at $67.70, which the coin fell below at the end of January.
The Bollinger Bands point to steady volatility since the beginning of January, as the prices have looked downwards, while the Moving Average line indicates that the coin is trading in a bearish zone, but is likely to make the switch to the bulls.
The Awesome Oscillator still pegs the eleventh-largest cryptocurrency trading below 0. However, the lines are green, indicating that bullish momentum is to take over soon.
The Fisher Transform line show that the coin has made a switch from the bears to the bulls as the Fisher Line has overtaken the Trigger Line on February 5.
Conclusion:
The coin has been buoyed by the bullish swing of last week and has managed to sustain the high prices, rising above the immediate support level and close to breaking resistance. The short-term Bitcoin SV trend line indicates stable movement at a higher price-bracket, which shows hopeful signs. In the long-term, the coin looks to edge upwards following constant movement, as major indicators show bullish movement.
The post Bitcoin SV [BSV] Price Analysis: Token looks to break resistance as bulls push for consistency appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin SV [BSV] adopts ‘Zero Tolerance’ policy as it talks up business and government friendly credentials

Earlier this week, the Bitcoin SV camp was in the news after alleged child abuse pictures made their way to the coin’s network, deeply rattling the community. Now, Bitcoin SV has responded with a “zero tolerance” policy that aims to weed out these culprits and make sure that such acts do not happen in the future.
Bitcoin SV had called out this fiasco as “market manipulation,” wherein other networks wanted to discredit the BSV network by alleging that these incidents do not happen on their services and are isolated to Bitcoin SV.
Major proponents like Craig Wright and Jimmy Nguyen even hit back at several media houses suggesting that since BSV is an open-ledger, certain nefarious materials may end up on their services. The same is true for the internet, Bitcoin [BTC] and Ethereum [ETH], and to single out Bitcoin SV was incorrect, they further suggested.
In terms of the illegal image question, Bitcoin SV is certainly regretting the incident but claims the same has happened with internet giants like Facebook, Twitter, and Google, and that these are ongoing issues.
The unfortunate image was first uploaded via a transaction through Money Button and spotted by BitcoinFiles.org, who quickly informed the authorities and got the picture removed from the servers. Now both the aforementioned BSV partners have since updated their Terms of Service to underscore that no illegal or illicit content can be written onto the server.
Jimmy Nguyen, the CEO of nChain, the biggest company-backer of the Bitcoin SV project stated that the necessary facilities are present to alert the site operators on any malicious content and that nChain will be doing everything to check the IP address source and to procure evidence which will be provided to the authorities, if necessary.
Nguyen went on to state:
“The Bitcoin SV ecosystem does not tolerate illegal activity. Unlike the anti-government culture of many other cryptocurrency communities, Bitcoin SV is the most business friendly, government friendly, and law enforcement friendly.”
Unlike its predecessor’s networks, BSV is not very privacy-centric, allowing a public record to be created which cannot be deleted. Hence, Money Button used this trail to identify the culprit and ban him from the network.
Nguyen closed with a stern warning:
“On behalf of the bComm Association and the entire BSV ecosystem, we want to send a very clear message: The Bitcoin SV blockchain is a not a place for criminal activity, and if you use it for illegal purposes, you will leave a digitally signed evidence trail that cannot be erased. This evidence is fully admissible in a court of law, and you will likely be caught and prosecuted. Think twice and be prepared for legal action before you try adding illegal content to the blockchain. We stand ready to work with global law enforcement authorities to stamp out this and any other illegal misuse of Bitcoin.”
The post Bitcoin SV [BSV] adopts ‘Zero Tolerance’ policy as it talks up business and government friendly credentials appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin SV [BSV] Price Analysis: Bulls rally to push BSV prices up by 7.86% before late bearish activity

Bitcoin SV [BSV] has had quite a few eventful days, a fact that is reflected by the price movement in the BSV market. While yesterday BSV tanked in the aftermath of the news that the BSV blockchain had been used to pedal child abuse images, today has been a different ball game with BSV posting a 24-hour growth rate of a very significant 7.86%.
At the time of press, BSV is valued at $63.94, with a market cap of $1.125 billion. However, it still remains eleventh in the list of the world’s largest cryptocurrencies, behind Binance Coin. It had a 24-hour trading volume of $151.17 million, with the exchange Bit-Z, contributing a significant 26.19%to it via the trading pair BCHSV/BTC.
1-hour
Source: TradingView
The one-hour chart for the BSV coin reflects the very significant rally the coin has posted over the past few hours. The uptrend extending from $58.72 to $69.49 erased much of the losses posted yesterday. However, brief bearish activity has posted a downtrend that extends from $69.50 to $65.47. The aforementioned rally has breached the previous resistance points and now sits at $69.572 while the support point holds firm at $58.128.
The Parabolic SAR has the markers over the candlesticks in the last few trading cycles, suggesting that the bears have stalled the sudden uptick in prices the bulls produced. It is thus a bearish market at the time of press.
The MACD index reflects that the bears have significantly cut into the gains the bulls had posted this morning and that a bearish crossover may be imminent. However, the MACD line, for the time being, remains above the signal line, suggesting a slightly bullish market.
The Klinger Oscillator backs up the findings of the Parabolic SAR and suggests that the BSV market is indeed bearish at the moment after the point of bearish crossover.
1-day
Source: TradingView
The one-day chart of the BSV market indicates a huge downtrend extending from $219 to $62.890 that the coin is still struggling to cope with. Despite brief uptrends such as the one that extended from $43.11 to $69.02, the BSV market still hasn’t got much relief and is yet to hit the highs associated with its beginnings. The previous support point at $64.17 was breached and it now stands at $61.68. On the other hand, it would seem that the resistance point will hold for a while at $72.197.
The Awesome Oscillator still has the BSV market trading below zero. However, it is in the green, suggesting some bullish activity may be in the offing.
The Relative Strength Index indicates that buying and selling pressures have evened each other out in the Bitcoin SV market, but tends towards the oversold zone.
The Chaikin Money Flow suggests that money is still flowing out of the market, suggesting a bearish trend to the coin’s prospects.
Conclusion
The one-hour chart for Bitcoin SV using indicators such as the Parabolic SAR, MACD and Klinger Oscillator suggests that the coin has posted some encouraging results, despite some late bearish activity. However, a definite bullish or bearish trend is too soon to identify. On the other hand, the longer term prospects of the Bitcoin SV market seem to be in the red, especially since the coin is yet to recover from its significant downtrends.
The post Bitcoin SV [BSV] Price Analysis: Bulls rally to push BSV prices up by 7.86% before late bearish activity appeared first on AMBCrypto.
Source: AMB Crypto

Crypto Market Update: Binance Coin (BNB), Bitcoin SV, Tron (TRX), ADA Price Analysis

The total crypto market cap recovered recently, but it could struggle near the $108.50B resistance.
Binance coin (BNB) extended gains and traded above the $8.00 resistance.
Bitcoin SV price gained more than 8% and broke the $60.00 resistance area.
Tron (TRX) is slowly moving higher towards the $0.0265 resistance level.
Cardano (ADA) price is currently consolidating above $0.0350 and $0.0360.

Binance coin (BNB) and bitcoin SV performed really well recently. However, the crypto market, bitcoin (BTC), Ethereum (ETH), TRX, ripple, ADA and others might continue to struggle.
Bitcoin SV Price Analysis
After a steady, bitcoin SV found support near the $50 level against the US Dollar. After trading in a range for some time BCHSV/USD started an upside move above the $58 resistance. The price gained traction and rallied more than 8% to settle above the $60 resistance.
It is currently trading above the $62 level and it seems like it could continue to move higher towards the $65 and $70 resistance levels.
Binance coin (BNB), Tron (TRX) and ADA Price Analysis
Binance coin price extended gains after it broke the $6.00 and $6.50 resistance levels. BNB price broke the $7.50 and $8.00 resistance levels as well, opening the doors for a push towards the $9.00 or $10.00 resistance.
Tron price traded within a tight range above the $0.0250 support level. TRX might gain traction and it could climb towards the $0.0265 and $0.0272 resistance levels. The main supports on the downside are $0.0255 and $0.0250.
Cardano price declined in the past few days and settled below the $0.0380 support level. ADA tested the $0.0360 support level and it is currently consolidating losses. On the upside, there are many resistances near $0.0372 and $0.0380.

Looking at the total cryptocurrency market cap hourly chart, there was a sharp decline toward the $106.5B support level. Later, the market cap recovered and corrected above the $107.0B and $107.5B levels. However, there is a strong resistance formed near $108.5B, $109.0B, and a bearish trend line on the same chart. Therefore, upsides are likely to remain capped in bitcoin, Ethereum, ADA, ripple, tron, XLM, litecoin and other altcoins in the short term.
The post Crypto Market Update: Binance Coin (BNB), Bitcoin SV, Tron (TRX), ADA Price Analysis appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin SV Price Analysis: BSV/USD Trends of February 06–12, 2019

CoinSpeaker

Bitcoin SV Price Analysis: BSV/USD Trends of February 06–12, 2019

Increase in bearish momentum while the bears defend the resistance level of $68 will break the support level of $54 and Bitcoin SV may find its low at $41 price level.

Bitcoin SV Price Analysis: BSV/USD Trends of February 06–12, 2019

Continue reading at Coinspeaker
Source: CoinSpeaker

eToro reports Bitcoin SV blockchain used to pedal child abuse pictures; Craig Wright hits back

The chief scientist at nChain and vocal proponent of Bitcoin SV, better known as Satoshi’s Vision, was quick to hit back at eToro, after the latter, through The Next Web’s sub-brand “Hard Fork,” had accused BSV’s blockchain of being used to pedal child abuse pictures.
On February 4, the technology and business-centric website reported that Bitcoin SV’s community members increased the data accepted in transactions, allowing media files like audio, video, and images to be stored on the coin’s blockchain.
It further reported that Money Button, a payment app on the BSV network had processed a transaction which “uploaded” the image in question on the site. Given the immutable nature of Bitcoin SV, the image will remain on the blockchain, until a hardfork is initiated, reported the website.
A “spokesperson” told the website:
“Almost certainly, whoever posted this was trying to prove a point about inserting something illegal into the blockchain, since that content can never be removed.”
Jimmy Nguyen, the CEO of nChain stated that in light of this unfortunate incident, there may always be a chance that a culprit would use the blockchain to transmit illegal information. However, he also said that limited the data that could be carried was not the solution to the problem.
He stated:
“The answer does not lie in limiting the data capacity of the platform. Instead, responsible service providers operating on the BSV blockchain will take measures to prevent writing to or reading from the blockchain any content that is illegal.”
Nguyen further added that prior to unloading any sort of content on the blockchain, users are required to digitally sign in their data.
He added:
“Those digital signatures are admissible in courts of law to prove possession of illicit material and intent to distribute.”
Craig Wright wasted no time in replying to The Next Web’s piece, suggesting that the website is unnecessarily singling Bitcoin SV out, when the same is true for Bitcoin [BTC] and Ethereum [ETH] as well.
In a tweet, posted a day after the original article was published, Wright demanded an “extraction” of the same. Furthermore, he added that the Financial Service Authority [FSA], the chief regulator of the United Kingdom will be dragged into the matter if need be.
His tweet in full read:
“I am giving @eTorro the opportunity to retract this statement and apologise formally. The facts are, this is a claim on BTC AND ETH etc as well. The issue is extraction.
If not, we will have to look at action and to involve the FSA.”
The editor of Hard Fork, Dimitar Mihov responded to Wright’s tweet confirming the content of the article and Jimmy Nguyen’s acceptance that people could use the blockchain for illicit activities like the one reported.
Craig Wright launched a tirade of tweets to this, the most prominent of which read:
“The extraction of the illicit data (and for that matter the indexing of such) is a problem, but this is something outside of the Blockchain.
ETH and BTC are both known to have illicit material on them. So does Twitter and Facebook. The law accounts for this and allows OSPs that do not filter and transmit in no knowledge of what is incorporated are not liable.
Commercial nodes are protected. The idea of a “full validating node” could be at risk. But, ones that are OSPs is not.”
The post eToro reports Bitcoin SV blockchain used to pedal child abuse pictures; Craig Wright hits back appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Price Prediction for 2019: Experts View

CoinSpeaker

Bitcoin Price Prediction for 2019: Experts View

John Ryan, experienced writer and crypto enthusiast, takes a look at major Bitcoin price predictions by industry’s top experts, unveiling what we can expect from the main cryptocurrency in 2019.

Bitcoin Price Prediction for 2019: Experts View

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin SV [BSV] could turn bearish as Coingeek and Squire Mining Acquisition Seems In Trouble

The dream of creating the largest, publicly traded Bitcoin miner seemed to have hit a roadblock as Squire Mining Ltd. announced that itself and Bigfoot Holdings Group Ltd. (operating as CoinGeek Mining & Hardware) have agreed to further extend exclusive negotiations to March 31, 2019, for Squire to acquire the mining assets owned by CoinGeek.
All doesn’t seem to be right at Squire Mining
Squire Mining had announced its plans to acquire Coingeek’s mining assets in mid last year as the advent of Bitcoin SV was to drive growth in the mining hardware sector, reinforcing the Squire team’s optimism on future growth prospects. Following the acquisition talks, Squire also started working on the development of its prototype FPGA (field programmable gate array) ASIC microchip for mining Bitcoin SV, Bitcoin and other SHA-256 associated cryptocurrencies.
But things seem to have fallen flat as the company reported its failure in getting the desired result after initial simulation testing of its new prototype ASIC (Application-Specific Integrated Circuit) chip for mining Bitcoin SV.  This failure also led to the resignation of Taras Kulyk as Chief Executive Officer and Director, the brain behind the partnership with Coingeek and the development of new ASIC microchip.
The market hasn’t been apiece with the Squire Mining and with the meltdown, in crypto prices, the stock has suffered severely. Squire Mining SQR, after reaching an all-time high of 0.815 CAD on September 20, 2018, reached its lowest point today, February 1, 2019; with a close of 0.018 CAD falling 79.1% since September.
With so much of gaps to fill in for Squire Mining and exit of the CEO, the extension was bound to come in and the new date for the exclusive negotiation and decision is set to March 31st, 2019 for Squire to acquire the mining assets owned by CoinGeek and certain of its affiliates and other blockchain related assets
Although the announcement is still positively put forward that the Squire team remains confident in its decision to progress with this Transaction and the acquisition of mining assets, it still looks a pretty uphill task unless the markets become more viable and Bitcoin SV starts providing miners with higher volumes of transaction fees need for miners to remain profitable.
Another factor to look here which even the announcement mentions is the final report and further roadmap on the product development
“We will be expecting the final report on our ASIC chip design shortly and will provide a further update on the revised product development roadmap.  While our reported timelines may have shifted our commitments to deliver the next generation of leading ASIC mining hardware has not.”
Blow to CoinGeek and Bitcoin SV
This acquisition was considered great news for Bitcoin SV as well as for Squire Mining suddenly seems to become sour. The failure to launch their own ASIC chips, the exit of CEO Taras Kulyk and now the further delay in the acquisition will be seen as a massive disappointment. This new chipset being developed to help secure the BSV network with more hash power and the combined entity would have created a great mining pool which was necessary for Bitcoin SV roadmap.
The price of Bitcoin SV also saw a slump after this news as the price that sat close to USD 75 at the start of the week, slumped to sub USD 61 levels when the news was out.
Will the acquisition go through before 31st March or is this the dead end here? Do let us know your views on the same.
The post Bitcoin SV [BSV] could turn bearish as Coingeek and Squire Mining Acquisition Seems In Trouble appeared first on Coingape.
Source: CoinGape