Connect with us

Bitcoin Cash

Breaking: SBI Virtual Currencies delists Bitcoin Cash [BCH] in response to Binance’s Bitcoin SV delisting




Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bitcoin pushes the resistance as it's silver counterpart wait for support
Source: Pixabay

SBI Virtual Currencies, a licensed cryptocurrency exchange based in Japan, has delisted Bitcoin Cash [BCH] in a knee-jerk response to the recent delisting of Bitcoin SV [BSV] by Binance. Speculators suggest the Japanese exchange’s close ties to the BSV camp as the reason behind BCH being booted out.

As confirmed by an SBI press release, translated from Japanese, dated April 16, the exchange stated that the “schedule for the abolition” of Bitcoin Cash is proposed for the end of the month. However, the date of withdrawal for the same is “planned” for June.

The Japanese exchange cited three main reasons behind the elimination of the fourth largest cryptocurrency by market cap. Firstly, they mentioned the dwindling market cap of Bitcoin Cash, which, in the exchange’s opinion makes them susceptible to a “51 percent attack”. With reference to the same, SBI stated:

“This material is not part of the rules for the management system of virtual currency related information of Japan Virtual Currency Exchange Business Association.”

SBI highlights the effect on the exchange if Bitcoin Cash hard forks in the future. Back in November 2018, the coin forked into BCHABC and BCHSV resulting in a massive freefall in the global coin market which shaved over $100 billion of the collective market capitalization in less than a month.

According to the exchange, Bitcoin Cash holders can sell their coins by the end of April and by the close of May, the coins will be sent to a CooXWallet which will serve as a “customer-managed designated hardware wallet.”

Currently, BCH transactions via SBI have been “suspended,” however, custody sale transactions will continue. Later in the month, the remaining details with regard to abolition of sale, conversion rate and payment date will be disseminated.

Despite SBI citing market cap, vulnerability to a 51 percent attack and volatility of Bitcoin Cash as the main reasons for it to drop the coin, many on Twitter suggest a more personal reason. Koji Higashi, a Japanese cryptocurrency influencer and co-founder of IndieSquare Inc., suggested that the BCH delisting is due to the exchange’s close ties with nChain, the main spearhead behind BSV.

Ruben Somsen, the founder of Seoul Bitcoin echoed Higashi’s claims stating:

“The big block drama continues… In apparent reaction to @cz_binance

delisting $BSV, $BCH is getting delisted in Japan by SBI, a company which is known to have close ties to #Faketoshi”

SBI’s delisting has not yet hit the coin markets, with CoinMarketCap showing Bitcoin Cash [BCH] as being the sole coin trading in the green among the top-20. At press time, BCH has soared by 6.31 percent against the dollar, while its little brother, Bitcoin SV has seen a massive 21.26 percent decline following Binance and Shapeshift’s delisting of the coin, and Kraken hinting at the same.

Subscribe to AMBCrypto’s Newsletter


Bitcoin Cash’s [BCH] Roger Ver accuses Tone Vays of losing BCH vs BTC bet despite ‘cheating’




Bitcoin Cash's [BCH] Roger Ver accuses Tone Vays of losing BCH vs BTC bet despite "cheating"
Source: Pixabay

Bitcoin [BTC] has often been reprimanded by the Bitcoin fork coin maximalist due to its scalability, block size, and mining fees, among other things. The debate surrounding the digital coins at the joint edition of CC Forum and Malta AI & Blockchain Summit witnessed an argument between BCH’s Roger Ver and Bitcoin maximalist Tone Vays.

The fork coin enthusiast and the CEO of, Roger Ver, argued that the transaction fee in case of BTC was $3, which made it extremely expensive. However, Tone Vays, a Bitcoin core personality, said that he used the king coin frequently and had never paid more than $1 as fees to settle payments. This led to the CEO asking Vays to pull out his wallet and send him $5 worth of BTC. Subsequently, Ver placed a bet of $10,000 for any charity of Vays’s choice if the latter was able to send $5 with a transaction fee of 5 cents in 24 hours.

Tone made a transaction on-stage and later posted a victory tweet:

Responding to the above tweet, the CEO accused Vays of cheating and losing the bet in a new video. Firstly, Ver noted that the transaction did not clear within the day and added that it took ten hours to get included in the block. Secondly, he explained that Tone’s transaction was the “highest priority” [higher the transaction fee, higher the priority] in the entire ecosystem and was prompted by Slush Pool’s insertion. He said,

“I don’t know if Tone asked Slush, I don’t know if somebody else asked Slush, I don’t know if Slush did on its own. Maybe slush has a transaction accelerator thing where you can pay with a credit card to include your Bitcoin transactions in the block but anyhow Tone is the highest priority transaction in the entire block.”

Subscribe to AMBCrypto’s Newsletter

Continue Reading