Craig Wright receives response from US Copyright Office; Satoshi claims enter ‘examination process’

The United States copyright office has issued a response to Craig Wright’s application to lay legal claim to the Bitcoin [BTC] whitepaper and software. The May 22 response from the office paints a grim picture for the hopes of the nChain’s chief scientist’s claims of being Satoshi Nakamoto.
Firstly, the document stated that it “does not have an opposition procedure for copyright registrations,” highlighting the case of patents and trademarks. The document further read that any “disputes over the claims in registration may be heard before federal courts” and that if the applicant issues “false information,” they will be “subject to penalties.”
 

The Copyright Office has received lots of questions about certain Bitcoin registrations, see our response: https://t.co/C0dBuzec4X
— US Copyright Office (@CopyrightOffice) May 22, 2019
Speaking on the topic of acquiring the identity of a pseudonym, the document stated:
“In a case in which a work is registered under a pseudonym, the Copyright Office does not investigate whether there is a provable connection between the claimant and the pseudonymous author.”
Coming to the examination process of the disputed pieces of the intellectual property i.e. the whitepaper and the software, the copyright office will conduct an “examination,” to determine if the “deposited work is eligible for protection under the Copyright Act,” and if it requires “registration.”
The office will contact the Wright if any “inconsistencies” sprout. Furthermore, the office will correspond with him to submit “well known work whose author is known,” in relation to his submitted claim.
Wright and his application are currently in the “examination process,” with the office ‘taking note,’ of the pseudonym Satoshi Nakamoto, which the applicant, unsurprisingly, confirmed he is.
The document concluded:
“In the case of the two registrations issued to Mr. Wright, during the examination process, the Office took note of the well-known pseudonym “Satoshi Nakamoto,” and asked the applicant to confirm that Craig Steven Wright was the author and claimant of the works being registered. Mr. Wright made that confirmation. This correspondence is part of the public registration record.”
Regardless of the document, the crypto-community on Twitter have dismissed Wright’s claims time and time again, stating that the recent application was ‘just another form,’ and that ‘anyone can file it.’
The post Craig Wright receives response from US Copyright Office; Satoshi claims enter ‘examination process’ appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin SV Price Goes Vertical Following Craig Wright’s Whitepaper Copyright Claim

According to a press release published by CoinGeek, controversial crypto proponent Craig Wright has been granted copyright registrations for the original Bitcoin Whitepaper with the US Copyright Office. The pro-Bitcoin SV publication has used the news as concrete evidence that Wright is indeed Satoshi Nakamoto.
Although many in the wider cryptocurrency community remain unconvinced by Wright’s claims, even in light of the latest developments, it is clear from the Bitcoin SV price action that a lot of folks are taking the announcement as proof of Wright’s involvement in Bitcoin’s creation. The price of the crypto asset that forked from Bitcoin Cash last November has gone vertical since the news broke and is up over 72 percent over the last few hours at the time of writing.
Craig Wright Files Patent for Bitcoin Whitepaper, Crypto Community Ambivalent
It was announced earlier by the Calvin Ayre-owned, pro-Bitcoin SV publication CoinGeek, that entrepreneur and computer scientist Craig Wright has been successfully granted US copyright registrations for the Bitcoin Whitepaper, along with most of the crypto asset’s original code. Wright has been claiming himself to be the creator of the digital currency since 2015 and although it would be very easy for him to cryptographically prove himself Satoshi Nakamoto, he has never done so. This has led many in the community to call him a fraud.
In fact, some in the crypto space have gone to great lengths to prove that Wright’s claims are nonsense. This prompted the controversial figure to pursue legal action against those who have doubted that he is indeed the author of the Bitcoin whitepaper.
Naturally, CoinGeek and its owner, Calvin Ayre, have used today’s news that Wright has had his patents green lighted by the US Copyright Office as evidence confirming Wright’s claims:

Boom! Proof that #CraigisSatoshi has been accepted by US government copyright department.https://t.co/sr0PQno6Dg
— Calvin Ayre (@CalvinAyre) May 21, 2019

However, not everyone is convinced that the latest moves prove anything at all. Jerry Brito, the executive director at Coin Center, Tweeted:

Registering a copyright is just filing a form. The Copyright Office does not investigate the validity of the claim; they just register it. Unfortunately there is no official way to challenge a registration. If there are competing claims, the Office will just register all of them. https://t.co/YA70ALpG1Y
— Jerry Brito (@jerrybrito) May 21, 2019

Some pointed to it being yet more attention-seeking antics from Wright:

craig wright's newest shenanigan in trying to prove he's satoshi is our version of katy petty getting her nails done or whatever the normie celebrities do to get noticed
— Ambroid (@anambroid) May 21, 2019

Finally, Peter McCormack, the host of the What Bitcoin Did podcast and one of those apparently being sued by Craig Wright for dismissing his claims relating to the original Bitcoin protocol, responded to the news with typical nonchalance and humour:

I have registered the paper "Craig Wright is a Fraud" with the UK Intellectual Property Office.
Any misuse of "Craig Wright is a Fraud" and I will sue you for fraudulently claiming "Craig Wright is a Fraud".
— Dr. Peter McCormack (@PeterMcCormack) May 21, 2019

Satoshi’s Vision Price Rockets on Craig Wright News
As mentioned, the price of Bitcoin SV, the crypto project championed by Wright, has soared since the news broke. On a day with many low percentage gains across the market. The digital asset created when Bitcoin Cash forked last November has shot up by over 70 percent in just a couple of hours.
It actually peaked just shy of $140, up from around $61 prior to the news. It has since slumped back to around $110 at the time of writing – still an impressive gain not mirrored by the rest of the market.
The increase in buying pressure has likely been caused by those convinced by pro-Bitcoin SV news sources and Twitter accounts that Wright being granted a copyright for the Bitcoin code and whitepaper is concrete evidence that he is indeed the paper’s original author.

Craig Wright is officially recognized by a government agency as Satoshi Nakamoto and granted US copyright registrations for Bitcoin white paper and code #CraigIsSatoshihttps://t.co/rHJW0XTWKt pic.twitter.com/6SuQphPs7f
— CoinGeek (@RealCoinGeek) May 21, 2019

Craig Wright is Satoshi Nakamoto
— 1jack (@liujackc) May 21, 2019

Craig Wright just been awarded copyright over bitcoin and the white paper. #bsv pic.twitter.com/fLIF1ilnOc
— cryptofactor ˢᵛ (@CryptoFactor) May 21, 2019

Unfortunately, this ultimately off putting display for all those recent newcomers to the market appears to be anything but over. NewsBTC will continue to being you more on it as it develops further.
 
Related Reading: This Prominent Investor Sees Bitcoin Surpassing Gold as a Store of Value
Featured Image from Shutterstock.
The post Bitcoin SV Price Goes Vertical Following Craig Wright’s Whitepaper Copyright Claim appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin SV [BSV] Up 100%; Craig Wright Makes Another Attempt To Cause FOMO?

Craig Wright has filed a copyright registration for the original Bitcoin [BTC] whitepaper. The controversy surrounding Satoshi’s real identity and Craig Wright’s claims had reached its height on Twitter when Binance decided to #delistBSV.
Now, Wright has made another attempt to cause FUD and FOMO in the market by filling a registration with the U.S. Copyright Office supporting his claims of authorship Bitcoin’s whitepaper.
Also Read: Vitalik and Hoskinson Support #DelistBSV, But Concerned About Centralization of Cryptocurrency Exchanges

Craig Wright filed a copyright registration for the Bitcoin whitepaper https://t.co/aIvg2BbmL2 pic.twitter.com/TVdU62TRRv
— Neeraj K. Agrawal (@NeerajKA) May 21, 2019

The price of Bitcoin SV shot up by more than 100% as the news of the registration was broken earlier on 21st May 2019. The price of Bitcoin Satoshi Vision [BSV] at 13: 45 hours UTC is around $110. It touched a high of $135 a moment ago this time as the registration was being interpreted as confirmation of Craig Wright being Satoshi Nakamoto.
BSV/USD 1-Day Chart on Bitfinex (TradingView)
As noted by Jerry Brito, the Executive director of Coincenter, 
Registering a copyright is just filing a form. The Copyright Office does not investigate the validity of the claim; they just register it. Unfortunately there is no official way to challenge a registration. If there are competing claims, the Office will just register all of them.
Hence, according to the laws of copyright in the US, while the registration has been granted to Wright it does not confirm or guarantee his identity. the Copyright is granted to anyone who files with a claim.
Do you think that Craig Wright’s attempt will be more detrimental to BSV’s prices now? Please share your views with us. 
The post Bitcoin SV [BSV] Up 100%; Craig Wright Makes Another Attempt To Cause FOMO? appeared first on Coingape.
Source: CoinGape

CZ starts charity to raise legal fees for people being ‘picked on’ by ‘loser (CSW)’

CZ aka Changpeng Zhao, CEO of Binance, has been known to be in touch with the needs of the crypto community. In his recent tweet, CZ announced the start of a charity which raises fees for people who are being picked on by Craig Wright.
CZ tweeted,

CSW is picking on the people who have a hard time fronting their legal fees. How about we do a @BinanceBCF charity program to raise money from the community for legal fees for anyone CSW sues?@PeterMcCormack @rogerkver @jihanwu
— CZ Binance (@cz_binance) May 7, 2019

Craig Wright, a Bitcoin SV proponent and self-proclaimed Satoshi Nakamoto, took the crypto community head-on when he started filing “harassment and libel” lawsuits against people who claimed that he was a fraud and was not the creator of Bitcoin. CZ expressed his views and was extremely vocal about Wright’s actions, leading to the delisting of BSV from Binance, which was followed by a lot of other exchanges doing the same.
CZ also added,
“The donations will be sent to selected lawyer directly from BCF, with proper verifications and tracked on the blockchain. And when the case is done, we should get the funds back from the lawyers.”
Additionally, CZ also said that the cases, after raising the legal fees, “should be a slam dunk” and that “loser [CSW]” would have to cover the legal fees. To build traction for this movement, CZ added that he will be donating “$10,000 equivalent in BNB.”
@Satoshi_D, a Twitter user, commented,
“How about they use all that ‘fraud evidence’ against him in court and send him to jail?”
The post CZ starts charity to raise legal fees for people being ‘picked on’ by ‘loser (CSW)’ appeared first on AMBCrypto.
Source: AMB Crypto

Vitalik Buterin appreciates Bitcoin Cash for scheduling implementation of Schnorr signatures ahead of Bitcoin

Vitalik Buterin, the brainchild of the second largest cryptocurrency, Ethereum, spoke at ETH Cape Town on April 2019. Speaking about the forks of Bitcoin, Buterin said that Bitcoin Cash SV was overrated and considered Bitcoin Cash to be underrated.
Buterin said:
“I think BSV is like still overrated for as long as the market cap has multiple digits; In Bitcoin cash, I think it’s actually underrated at this point.”
He added that Bitcoin Cash community has become “sane”, as the recent fork of Bitcoin Cash [which split into Bitcoin Cash ABC and Bitcoin SV] “expunged” the Bitcoin SV community. Specifically, he stated:
“If you actually follow the community, they’ve just become considerably more sane ever since they’ve expunged the Bitcoin SV people”
The fork of Bitcoin Cash into Bitcoin Cash ABC and Bitcoin SV took place in November 2018, which, at the time, was the center of attention in the crypto community. The ABC faction of the fork, supported by Roger Ver and Jihan Wu, performed considerably better than the faction supported by Craig Wright and Calvin Ayre.
Ever since the fork, Bitcoin Cash has performed better than Bitcoin SV, both in terms of price and community adoption. The price of Bitcoin Cash [formerly Bitcoin Cash ABC], at press time, was $288 and had a massive market cap of $5.11 billion compared to BSV’s numbers that were relatively lower. Bitcoin SV, at press time, was $53 and had a market cap of $945 million. In terms of the ranks of the two coins, BCH was the fourth largest cryptocurrency, however, BSV was the fifteenth largest cryptocurrency.
Buterin further added:
“… they’re [Bitcoin Cash] getting Schnoor signatures ahead of Bitcoin like that’s yeah they’ve got like real technical talent in there.”
Bitcoin Cash announced recently that they would be implementing Schnorr Signatures on the mainnet and they’ve also added the same on the testnet, where users can test the feature. According to the announcement, Schnorr Signature will be implemented on May 15, 2019.
Bitcoin developers have not quite mentioned the implementation of Schnorr Signatures and other privacy/security additions to the Bitcoin blockchain. However, there have been discussions about implementing the same.
The post Vitalik Buterin appreciates Bitcoin Cash for scheduling implementation of Schnorr signatures ahead of Bitcoin appeared first on AMBCrypto.
Source: AMB Crypto

‘Craig is Satoshi,’ says Money Button’s Ryan X Charles as he ‘validates’ 8 of Wright’s 17 degrees

Lately, the bearish crypto market has been dominated by controversies involving Craig Wright. This was recently reignited by Ryan Charles, a prominent voice in the crypto community. Charles, the CEO of Money Button, uploaded a video on his YouTube channel to back up a recent tweet that said,
“Craig Wright has 17 degrees and he’s getting two more PhDs right now, simultaneously, while working a full-time job. He is the most serious life-long learner and scientist I have ever heard of in my life. Inspiring.”
Charles’ latest YouTube video was a response to the negative comments to his aforementioned tweet, primarily to “clear out the misinformation” about Craig Wright. In the video, Charles said that he validated eight of Wright’s 17 degrees and also presented his method of finding (Googling) one of Wright’s PhD thesis.
He also said that he believed Wright to be “the real Satoshi Nakamoto” based on the proofs available online and his personal interaction with Wright. Charles supported this claim based on Wright’s knowledge of Bitcoin. He said,
“He has explained many things that no one had any explanation for. I’m very convinced that he (Wright) is Satoshi Nakamoto.”
While the self-recorded video’s central premise was supporting Wright’s Satoshi claims, Charles also took a jibe at ongoing token scams, while questioning Binance’s legality in the US. He asked the viewers,
“How come Binance is not doing KYC/AML stuff that the regulated exchanges in the U.S. do? They are breaking the law!”
Additionally, he labeled the people that refuse Wright’s claims as “liars”.
Following further discussion about how the Internet fueled the hate for the controversial self-proclaimed Bitcoin creator, Charles’ video ended by warning ‘haters’ about Wright’s intent to sue for defamation. While the video caught the attention of the crypto-enthusiasts, no official comment has been made by any prominent players by press time.
The post ‘Craig is Satoshi,’ says Money Button’s Ryan X Charles as he ‘validates’ 8 of Wright’s 17 degrees appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin SV [BSV]: Hashrate for Satoshi’s Vision plummets to lowest point since coin hardforked in November

Bitcoin SV [BSV] is one of the few cryptocurrencies that will be happy to turn the page from April to May, after what has been a disastrous month for the coin. Following its price debacle, Satoshi’s Vision has now seen its hashrate fall to an all-time low.
According to a chart by the cryptocurrency analytics company, Longhash, Bitcoin SV hashrate has decreased by a whopping 86 percent in the past five months. When the coin emerged after the hardfork with Bitcoin Cash [CBH], it posted a hashrate of 4.374 Exabyte, during the hashwar that ensued.
Owing to the larger crypto winter and several isolated drawbacks for the coin, BSV has seen its price, market cap, and hashrate drop significantly. During the close of November, just before the winter hitting its peak, the hashrate dropped to 833.73 Petabyte and fluctuated over 1E for the next few months.
Source: Longhash
The all-time-low hashrate for the coin was recorded on the 26 of April, when it dropped to 472.54P, which was a drop of over 50 percent from its early April figure of 976.59P.
However, it should be noted that since dropping to the aforementioned low, the hashrate has since picked up in the past few days. On April 30, the coin recorded a hashrate of 604.2P, an increase of 27.8 percent from April 26.
Coingeek, the media arm of the Satoshi Vision project, which also runs a mining pool, interestingly, has been vying for 51 percent hold on the coin’s hashrate, which is causing concern within the BSV community. According to Coindance.io, in the past six months, Coingeek’s has surged over the 51 percent mark twice, the first during its emergence in November 2018 and the next in early March 2019.
Furthermore, nChain the company behind the BSV project also operates BMG Pool, the mining pool that holds around 30 percent of the coin’s hashrate which would mean that internal control, via CoinGeek and nChain , accounts for over 70 percent of the coin’s hahsrate.
Bitcoin’s ascendance over $5,000 earlier in the month, set off bullish swings for several altcoins, less so for Bitcoin SV. Since the beginning of the month, the coin’s price has dropped over 39.7 percent, while the market added over $40 billion market cap.
The primary factor for BSV’s April agony was the coin’s ousting from a number of major exchanges, most notably Binance. Shapeshift, Kraken and Bitforex were other exchanges that let the coin go, following the BSV camp’s spearheads’ sending legal notices and “bullying,” those who opposed BSV’s main man, Craig Wright’s assertions of being the creator of Bitcoin Satoshi Nakamoto.
The post Bitcoin SV [BSV]: Hashrate for Satoshi’s Vision plummets to lowest point since coin hardforked in November appeared first on AMBCrypto.
Source: AMB Crypto

Craig Wright defends Satoshi Nakamoto claims; accuses Tether, Binance of market manipulation

Following his inexplicable disappearance from Twitter, Craig Wright recently made an appearance to discuss the ongoing drama and speculation surrounding the pseudonymous creator of Bitcoin. During an interview with Crypto Finder, Wright dismissed the requirement of a private key as evidence to prove his involvement in the development of Bitcoin. He said,
“I’ve got the transaction statements for buying the domain name and the Satoshi email address. The bank has to keep those for 25 years.”
Wright also accused Binance and Tether of money laundering and wash trading, while also taking a dig at John McAfee. He added,
“John McAfee helps these organizations pump up the token price, get people to invest, and then short the crap out of it!”
When asked about Phil Wilson’s involvement in the creation of Bitcoin, Wright dismissed Wilson’s involvement, stating that it too was a “a conman job”. He accused Wilson of attempting extortion by threatening to leak key information.
The interview also touched upon other issues. When asked about how he manages to remain grounded amidst all the commotion, fame, and fortune, the nChain Lead Scientist said,
“It’s not about getting the next billion, it’s about the work.”
He took another opportunity to lambast the software pioneer, claiming that,
“Unlike “conman John” (McAfee), people want to invest in someone who wants to grow, not in someone who wants to retire.”
Wright’s interview concluded with him cautioning the general public to steer away from crypto-speculations surrounding him. He said,
“The next big thing—like Google and Amazon—doesn’t happen overnight. People should find out the truth themselves.”
The post Craig Wright defends Satoshi Nakamoto claims; accuses Tether, Binance of market manipulation appeared first on AMBCrypto.
Source: AMB Crypto

Craig Wright Accusing Binance, McAfee and Even Roger Ver of Being the Mafia

Coinspeaker
Craig Wright Accusing Binance, McAfee and Even Roger Ver of Being the Mafia
Craig Wright, has called Binance, the world’s largest crypto exchange, a “super bucket shop” claiming that it’s co-founder Changpeng Zhao is engaging in wash trading and money laundering and that’s how he makes money.
Craig Wright Accusing Binance, McAfee and Even Roger Ver of Being the Mafia

Continue reading at Coinspeaker
Source: CoinSpeaker

Exclusive: Binance delisting Bitcoin SV [BSV] a matter of due diligence; kingmaking less so, eToro’s Greenspan

The cryptocurrency community was shaken up last week due to the feud between Bitcoin SV [BSV] and, well, everyone else. Following the legal charge, the climax of the “Delisting Dilemma” was Binance axing the coin, leading to a landslide of exclusions for the Calvin Ayre and Craig Wright-led project.
Amusing as the episode was, it did point to the power of exchanges acting in opposition to the actions of the founders. More importantly, it shed light on the power of the largest exchange in the world, Binance, with many in the industry equating the Changpeng Zhao-led company to “kingmakers.”
Mati Greenspan, the senior markets analyst at eToro, suggested that this was a matter of “due diligence” rather than “kingmaking.” However, he did admit to the power of Binance:
“They’ve [Binance] been the king makers for years, they’re the ones who say which ICOs get listed and which are not. They already are the kingmakers.”
He went on the highlight the independent power that cryptocurrencies provide to everyone, irrespective of the camp they belong to. Cryptocurrencies, in Greenspan’s opinion, allow people to “completely take control” over their respective assets and send it anywhere without an intermediary, which is what makes it unique.
Admitting that exchanges “enjoy a position of power,” he added that this power is “decentralized.” If customers are displeased with one exchange and their actions, they are free to set up their own platform.
With reference to the “Delisting Dilemma,” and Binance triggering the BSV pull-out, the senior analyst stated that the exchange was acting in the “best interest” of their customers. He stated that CZ “knew what his community wanted and he delivered it for them.” Greenspan also referenced the fact that some exchanges decided to gauge customer opinion prior to making a decision via Twitter polls, and an overwhelming majority favored delisting.
Not in reference to this particular debacle, but on a general consensus, Greenspan stated that if a company judges a project to be a “scam,” they have complete freedom to act as they please. He added that this action is not “kingmaking,” or an example of “centralisation,” rather this is “due diligence.” He concluded:
“They are protecting their investors at the end of the day.”
Despite the delisting bears backing off BSV and the feud looking to settle, Calvin Ayre’s Coingeek looked to light the spark yet again. On 23 April, the Ayre owned crypto-specific website reported that Binance is “likely involved in criminal operations,” citing several sources that dispute the exchange’s volume.
The post Exclusive: Binance delisting Bitcoin SV [BSV] a matter of due diligence; kingmaking less so, eToro’s Greenspan appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin SV [BSV] Overtook Dash Coin Despite Controversy – What Spikes it Over 3%?

The controversial cryptocurrency, BSV, has been in a piece of continuous news for some time now – however, the reason behind controversy comes after its creator ‘Craig Wright’ claimed himself as Satoshi Nakamoto, the creator of Bitcoin. Nevertheless, the crypto community dropped de-platforming announcement which resulted in Binance, Shapeshift, Kraken to delist the fork of Bitcoin Cash, Bitcoin Satoshi Vision or BSV.
While exchanges pulling out BSV from their trading boards, BSV began declining its value gradually – as such, it was on 12th spot and has sided down to 14th position on the chart of Coinmarketcap. Nevertheless, the coin stood on its 14th position for nearing two weeks following Monero and Dash on 12th and 13th spot respectively.
BSV Outperforms Dash
The BSV, just as out of the blue, surged higher and overtook Dash cryptocurrency to become the 13th largest cryptocurrency. At the press time, the coin rose 3.09 percent over the past 24 hours and trading at the value $54.10 against US Dollar. In addition, BSV is holding the average trading volume $960,206,085 against Dash’s trading volume $953,476,629.
Source – Coinmarketcap
Looking at the trading volume, anytime soon Dash can again snatch its position from BSV as it is very close to being on the 13th spot in terms of market capitalization.
In addition, the spike in BSV’s value can be constantly seen – at the beginning of reporting this article, it surged 3.09 percent whereas at the time of concluding the value rose to 3.56 percent. Nevertheless, the reason behind the swelling trading volume of BSV coin isn’t certain yet but the rising value is closely related to Calvin Ayre’s Coingeek as primary mining pool for BitcoinSV. Calvin Ayre is the Canadian entrepreneur, founder of Crypto media CoinGeek and a friend of Craig Wright.
Source – Coinmarketcap
Nonetheless, CoinGeek at present controls 46 percent of the total computing power on the network – which has reportedly mined 52 percent of BSV blocks over the past 24 hours.
What do you think about BSV? Do you think it deserves the surging volume than Dash cryptocurrency? Let us know in the comment below.
The post Bitcoin SV [BSV] Overtook Dash Coin Despite Controversy – What Spikes it Over 3%? appeared first on Coingape.
Source: CoinGape

Bitcoin SV [BSV]: Calvin Ayre-backed Coingeek article claims Binance is involved in ‘criminal operations’

Bitcoin SV [BSV], the BCH hardfork, and Binance, the largest cryptocurrency exchange in the world, have been at loggerheads since the exchange delisted Satoshi’s Vision last week. It looks like their dispute isn’t over yet, with Coingeek, the BSV mouthpiece, reporting that Binance plays a part in “criminal operations,” citing several sources.
Calvin Ayre, one of the spearheads of Satoshi’s Vision project and his acquired crypto-media house, Coingeek, recently released an article titled, “Binance ‘most likely involved in criminal operations’: report,” detailing the exchange’s misgivings in terms of exchange volumes, in light of recent reports that indicate the same.
The main source credited by Coingeek was a recent video by Chico Crypto, spelling out fake volume and wash trades based on the groundbreaking Bitwise Asset Management report. According to the report, only ten exchanges reported “real volume,” with Binance being one of them.
However, among the ten exchanges, Binance was the only exchange that was neither registered as a Money Services Business [MSB] under the Financial Crimes Enforcement Network [FinCEN], nor had a BitLicense, the regulatory license required to operate in the state of New York.
The Bitwise report also highlighted [which Coingeek did not shed light on] the lack of market surveillance tools employed by Binance. It should be noted that such tools were not incorporated on bitFlyer, Bittrex, itBit and Kraken either. The report stated that this tool can “help detect market manipulations such as spoofing and wash trading through the real-time and historical analysis of trades, order books, and other market information.”
Coingeek backed Tyler Swope, the host of Chico Crypto’s, who posed the critical question to the exchange,
“If Binance has nothing to hide and their volume is real and they’re not doing anything illegal, why wouldn’t they get both of those?”
Binance has had a prominent history of jumping through hoops to avoid regulation. Moving from China to Japan and now, to Malta in search of their regulatory paradise. Also, the exchange is pushing the boundaries to avoid working with banking institutions, even chiding fiat support. The exchange instead, opts for Tether [USDT] as a base pair, despite the top stablecoin reportedly not being backed one-for-one by US Dollar reserves.
Another key issue highlighted by Binance’s critics was the lack of KYC and money laundering policies implemented by the exchange. In light of this, the exchange partnered with IdentityMind, a risk management firm to shore up its security policies. This indicated self-regulation over imposed regulation, to the larger cryptocurrency community.
The other report cited by Coingeek was the “Market Surveillance Report” for April 2019 by Blockchain Transparency Institute [BTI]. The report suggested that Binance and Bitfinex had “over 10% wash trading.” However, BTI added,
“Binance’s top volume pairs are also largely clean as we suspected, however, market makers and bots are taking advantage of around 30 pairs on the exchange. We have found Binance to be about 85-90% clean depending on the day.”
The top crypto-exchange was “unverified” by BTI, at the time of writing the report and hence, presented no “major red flags.”
Interestingly, what Coingeek failed to mention was BTI’s December 2018 “Exchange Volumes Report” that identified only two exchanges that were not “grossly wash trading their volumes,” Binance and Bitfinex. The two exchanges had 100 percent real volume, while exchanges like HitBTC and Huobi had under 27 percent.
Source: BTI
BTI’s Exchange Volumes Report stated,
“Most of these pairs’ actual volume is under 1% of their reported volume on CMC. We noted only 2 out of the top 25 pairs not to be grossly wash trading their volume, Binance and Bitfinex.”
Additionally, a report from The Tie analyzed cryptocurrency exchanges’ expected volume with their reported volume and suggested that Binance’s volume was 78.82 percent, placing it in the category of “Low Potentially Fake Volume.” OKEx, which recently partnered with RelayX’s Jack Liu to launch FloatSV ,a “Bitcoin SV based exchange,” accounted for 5.94 percent of “Expected to Reported Volume,” suggesting “High Potentially Fake Volume.”
Despite the above, Coingeek reiterated Swope’s concluding comments, stating,
“Binance has many things to hide and will never get regulatory approval because they are most likely involved in criminal operations.”
Further, going by Calvin Ayre’s comments, Bitcoin Cash [BCH] advocate and Bitcoin.com CEO Roger Ver is also a part of this Binance “scam.” Ayre stated the same, citing “industry rumor.” His tweet read,

Source: Twitter
This line of reporting from the Calvin Ayre-backed media house comes as no surprise, given the feud between the BSV camp and Binance over the past few weeks. Binance triggered a delisting landslide for BSV, following Ayre’s legal charge against those who disputed Craig S Wright’s “claim” of being the real Satoshi Nakamoto.
The post Bitcoin SV [BSV]: Calvin Ayre-backed Coingeek article claims Binance is involved in ‘criminal operations’ appeared first on AMBCrypto.
Source: AMB Crypto

Max’s Corner: The Satoshi Saga and the Importance of Anonymity

Coinspeaker
Max’s Corner: The Satoshi Saga and the Importance of Anonymity
This edition of Max’s Corner deals with the recent BCHSV delistings and what the mystery regarding Satoshi’s identity means to the crypto industry.
Max’s Corner: The Satoshi Saga and the Importance of Anonymity

Continue reading at Coinspeaker
Source: CoinSpeaker

Kraken disables Bitcoin SV deposits; BSV community should denounce ‘frivolous lawsuits,’ says Jesse Powell

Even as Bitcoin Satoshi’s Vision [BSV] continues to trade well on market charts, troubles for the controversial fork coin continue to add up. In a recent development, Kraken announced that it was disabling Bitcoin SV on its exchange platform. The official tweet read,
“Bitcoin SV [BSV] deposits are now disabled. Deposits currently pending will be credited shortly. If you send funds in now, you may not be credited until after trading is disabled on April 29th. Please withdraw all BSV by May 31st, 2019.”
While responding to a Bitcoin SV supporter who questioned whether the Ripple “lawsuit” prompted the exchange platform to delist its native token XRP, Jesse Powell, Kraken’s CEO, clarified that Ripple never filed a lawsuit against the platform. He termed the squabble as a “personal dispute,” adding that XRP was already listed at that time. Powell also tweeted that he wished the BSV community was more “outspoken” to denounce the “frivolous lawsuits” filed by community leaders against Kraken.
Many BTC proponents also called out another Bitcoin hard fork, BCH, to be delisted from the platform in Kraken’s original Twitter thread.
This move stemmed from last week’s announcement by the San Francisco-based exchange. Kraken, in an official blog post, had revealed its plans to delist BSV after taking into consideration the over 70,000 users on its platform. The exchange platform claimed that the coin’s team was involved in fraudulent claims and was threatening on social media platforms. Taking legal action against individual members of the community who held dissenting opinions from the BSV bunch was however, the “last straw.” The blog concluded by stating,
“There is no room for bad actors.”
The unified delisting call from the crypto community was spurred by Craig Wright’s lawsuit against the #LNTrustChain initiator, Hodlonaut and Bitcoin proponent, Peter McCormack.
The post Kraken disables Bitcoin SV deposits; BSV community should denounce ‘frivolous lawsuits,’ says Jesse Powell appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin SV [BSV] block reorganisation: Network not reliable for payments, says BitMEX Research

Bitcoin SV [BSV] was in the limelight because of its touted large blocks, especially the 128MB blocks, highlighted by its spearheads. Just weeks after the feat, the coin’s blockchain was subjected to multiple block reorganizations as pointed out by a series of April 19 tweets by BitMEX Research.
The tweets indicated that on April 18, the exchange’s BSV node saw dual block reorganizations. BitMEX stated:
“First a 3 block re-organisation, followed by a 6 block re-organisation.”
Source: Twitter
BitMEX cited block 578639 as the location of the split, where the two competing chains were noticed. The tweet further stated that the exchange’s note kept track with the chain on the left until block 578642, following which it moved to the right. In the next hour, there was another jump to the left.
The research, however, contends that all the Transactions IDs [TXIDs] from the aforementioned fork migrated to the main chain, hence, double spending can be ruled out.
In light of this reorganization, BitMEX stated that the inference drawn can be that the BSV network cannot be relied on for payments, the block size touted to be too large to handle, and the network latency was too high.
With the BSV network incapable of handling a block of such a size, as the research indicates, their touted goals seem far-fetched. The cryptocurrency’s camp has maintained that their intention was to raise the default block cap to 512MB, with the same to be raised to 1-2GB in the future.
Jimmy Nguyen, one of the leads of the BSV project has even suggested blocks with no specified limits, with the same configured by the miners.
Block size apart, Bitcoin SV has been going through a tumultuous period off-late. The coin has been subject to a number of delisting announcements from top exchanges following the legal challenge mounted by its founders, which some have compared to “bullying”.
The post Bitcoin SV [BSV] block reorganisation: Network not reliable for payments, says BitMEX Research appeared first on AMBCrypto.
Source: AMB Crypto