TL;DR Breakdown
- OKCoin has set out to to delist BCH and BCV starting from March 1.
- The coins are adjudged to mislead new clients.
- The recent attack from Craig Wright on the open-source community also played a part.
OKCoin to delist Bitcoin Cash and Bitcoin SV
OKCoin has outlined plans to delist Bitcoin Cash (BCH) and Bitcoin SV (BSV) from its network as from the 1st of March. The exchange revealed the need to remove the two fork coins due to the confusion they have caused new clients and also the recent copyright enforcement mania by Wright Craig. The CEO of OKCoin, Hong Fang, shared her concerns about the fork coins, which she said were very disturbing.
Bitcoin SV is a copy (fork) of Bitcoin Cash, while Bitcoin Cash is a copy of Bitcoin. This was done in a bid to improve the scalability of crypto trading. However, the mix-up between the three coins (Bitcoin, Bitcoin cash, Bitcoin SV) has created more confusions for newbies.
OKCoin can no longer ignore Wright’s attacks
In addition, Craig Wright, the creator of Bitcoin SV has waged war against developers who host Bitcoin’s white paper on their website. Fang noted that the action by Wright cannot be ignored and is a threat to community spirit and growth.
Fang noted that the platform trades the two fork coins and Bitcoin, and that they are usually very confusing for newcomers who might want to buy only Bitcoin. She contrasted Bitcoin with BCH and BSV, saying that the fork coins are valued at the approx. 1.5% and 0.5% of Bitcoin’s total market cap. Therefore, she explained that the huge gap in their sizes is also a major concern.
However, neither the coins nor the exchange is going to be affected by this delisting, considering that both BCH and BSV contribute less than 0.1% of the daily trading volume on the exchange. As a result, the exchange said it is going to delist the BCH and BSV to save new clients from further confusion caused by these coins.
