Endgame for BSV – Since the creation of Bitcoin (BTC) by Satoshi Nakamoto, the most famous cryptocurrency has known to many clones/imitations. In August 2017, the hard fork bitcoin-cash (BCH) was born, after diverging desires for improvements to Bitcoin’s code. In November 2018, a new divergence further redivided BCH with the hard fork BSV. The broker robinhood seems tired of the latter, and has decided to delete it of its platform.
Robinhood no longer wants this Bitcoin clone: goodbye BSV!
The project BSVwhich can therefore be considered as “a fork of fork” of Bitcoinhas the (rather disadvantageous) feature of being supported by Craig S. Wright. The man, very procedural, has sued anyone who disputed his self-proclamation as Satoshi Nakamoto. Because, as he has never brought real evidence of his claims, many have called him a “fraud” and a “liar”, even to the point of calling him “Faketoshi”.
Is it because of him robinhood made the decision to unlist the BSV token? In any case, the broker specializing in retail investors is very clear in its announcement: no more BSV on its platform after Wednesday January 26 2023.
“We regularly review the cryptos we offer on Robinhood. Based on our latest review, we have decided to no longer support Bitcoin SV (BSV) on January 26, 2023 at 12:59 PM [ndlr : conversion à l’heure de Paris]. No other crypto is concerned (…). »
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Withdrawals always possible before an automatic liquidation
As Robinhood points out, after the above deadline, all BSV still present on the accounts of its customers will be automatically sold at market value. The cash thus generated will of course be credited to their account.
For those desperate to keep their BSVs, Robinhood reports that transfers are always allowed. At least until the deadline. Those concerned will therefore only have a dozen days to decide and send their BSV, either on a private external walleteither on a crypto exchange who still accepts this token.
The price of BSV fell significantly shortly after Robinhood’s announcement. He thus passed from the vicinity of $44.5 at $38.5. Either a small tumble of nearly -14% in a few hours.
It is to be hoped that, Craig Wright having announced that he wants to settle down and be less vindictive of its claims to be Satoshi Nakamotohe will now have more time to spend to the BSV project (and will therefore spend less time in litigation). In any case, the history of this crypto will soon no longer be written with Robinhood.
To keep your cryptos, nothing beats a Ledger wallet. The Nano S and Nano X provide security and ease of use. Indeed, they are compatible with the vast majority of cryptos and networks. They are an absolutely essential alternative to all exchanges that offer to hold your assets for you. Remember, “Not your keys, not your coins” (commercial link)!