The side that lost the Bitcoin Cash hash war on November 15th – Bitcoin SV, has had to concede that a chain split did in fact occur, despite their confidence that they could prevent that scenario.
Most exchanges have been reluctant to list the SV tokens for a number of reasons – the lack of wallets with replay protection support being a crucial one.
Despite the risk of losing user’s funds due to this problem, Kraken and Bittrex have now lead the way of listing BSV.
The Kraken team has been transparent in announcing the potential risks and drawbacks of their decision, admitting that BSV does not meet their listing requirements. Their warning states:
Bitcoin SV does NOT meet Kraken’s usual listing requirements. It should be seen as an extremely high risk investment.
Kraken further note that no major block explorers are supporting the SV-branch of the fork. They have also reminded their users that the central planners behind the project are highly hostile towards competitors, and that chain survival might be mutually exclusive with other chains.
At the time of writing this article, the BSV price is dropping rapidly. This downtrend is mostly driven by market fear based on the fact that the largest pre-fork BCH holders have publicly announced their intentions to sell all their coins – intentions that Kraken have also kindly reminded their users of.
Perhaps, foreseeing this exact scenario, Craig Wright has recently hinted that he owns around 1.05 million BTC, 1.1 million BCH. This statement is in sharp contrast to previous statements he made when he first tried to convince the world that he’s Satoshi.
Craig Wright has previously claimed that 650,000 bitcoins out of those 1.1 million have already been taken out of his Seychelles fund and spent on R&D, and 350,000 are on a hard drive, previously owned by Dave Kleiman. That leaves a grand total of 100,000 in his possession.
He might have forgotten about this previous statement of his while he was making threats around two weeks before the fork, however it has been documented in Andrew O’Hagan’s “The Satoshi Affair”.
Obviously, in at least one of those situations, Craig Wright has been blatantly lying, so unsurprisingly, his threats are not taken seriously by the markets and the price of SV is in a state of free fall.
Both Kraken and Bittrex have given the SV branch of the fork the BSV ticker, whereas the Bitcoin ABC branch will retain the BCH ticker for Bitcoin Cash.