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Binance, the largest cryptocurrency exchange in the world, On Monday, the release of Bitcoin SV (BSV) announced that CEO and founder Changpeng Zhao had decided that he would have had enough of Fake Satoshi's antics, Craig S. Wright. A few hours later, Kraken and Shapeshift followed suit.
You would have to travel far to find someone credible enough to defend Craig Wright, but you can infer that by removing BSV on a whim, Binance has proven to be a much stronger force. dangerous and pernicious. in the crypto space that Bitcoin SV could have been.
Binance CZ removes Bitcoin SV
Accompanied by a CZ tweet with the words "Do the right thing', Binance has abandoned this official announcement detailing the withdrawal of BSV from the stock market. The announcement says:
"… At Binance, we periodically review each digital asset we list to ensure it continues to meet the high standards we expect." When a coin or token no longer meets that standard or the industry changes, we do a more thorough review and eventually remove it from the list. "
This statement differs greatly from the one tweeted by CZ a day earlier, in which he set out his personal – and not technical – reasons for the removal of BSV.
"To be clear, I do not choose technology. We let the market do that. I am against fraud, like lying to be someone. As such, I firmly believe that: Craig Wright is a fraud. "
To be clear: I absolutely do not disagree with this statement. I am against unelected personalities who exercise power in a frivolous manner. As such, I firmly believe that Changpeng Zhao is a tyrant.
BSV: a case for the defense
CZ de Binance is therefore "against fraud, like lying to someone". I admire the feeling but do not appreciate the hypocrisy. Why, for example, does not CZ apply the same logic to Tron's CEO, Justin Sun? Craig Wright said a big lie; Justin Sun says a thousand, but Binance continues to work with Tron – a situation probably helped by Justin Sun's $ 3 million donation last year.
Today, CZ has agreed to BSV. What room will it be tomorrow? Open any crypto forum on the internet and you will see many people claiming that Cardano is nothing but a complex scam. The same goes for XRP, Dash, EOS, etc. Why does CZ not judge these pieces? (Give him a little time, maybe he'll do it).
In a tweet of April 12, CZ gave another reason for the removal of BSV: the BSV / BCH hardfork caused a lot of damage to the cryptography industry by dropping the value of BTC.
"Normally, I do not like to participate in debates, take sides, etc. But it's going too far. I did not like the fact that the fork dropped BTC below the $ 6,000 mark, which caused a lot of trouble for many industry players. "
Bitcoin Cash Holders Beware!
A story of shenanigans: DigiByte Bribery Saga
The problem with CZ adopting a moral position against Bitcoin SV is that it inevitably calls for a moral judgment on itself. Binance is no stranger to the controversy.
This Twitter feed from October 2018 shows, with screenshots, how a representative of Binance would have claimed the payment "at the game" of the DigiByte team (DGB). When the DigiByte team member asked how much the registration fee was, the answer was, "What is your budget?"
The following screenshot shows the representative of Binance who refers to "evaluation fees" and explains that if DigiByte had not "spent the evaluation fees", it would not appear in the list of exchanges.
In addition, CZ has itself been caught in pickles, as evidenced by the apology demand presented by Jared Tate during a direct message exchange, to deny it the next day. The tweet of CZ has since been deleted.
False volume of currency binance
In addition, there are indications that Binance regularly inflates the trading volume of its own Binance coin (BNB), as well as coins launched via Binance Launchpad.
These data from bear market valuations show the discrepancies between Binance Coin's reported volume and market signals suggest that this should be so.
If the volume reported by Binance Coin was genuine, this would represent a higher daily turnover than any other major negotiated asset. (Volume extracted from secure exchanges, noted Bitwise).
The same is true for Launchpad tokens, such as Celer Network, which had a bitcoin-like trading volume, with no sign of interest appearing on Google Trends. .
From this perspective, it becomes difficult to take literally the moral position of CZ against Craig Wright.
The danger of centralized exchanges
Binance is still the king of cryptocurrency trading – and that's the goal. Changpeng Zhao regularly maintains the image of good guy; the leader of the sector, boldly pushing cryptocurrency in [please complete cliche].
To come back to the announcement of the removal of the list, it would be nice if Binance could stick to his own words when he announces:
"We thank you for your support as we continue to build the cryptography ecosystem to promotes transparency and sustainable and long-term growth. "
Such transparency does not exist and, given that the Kraken and Shapeshift exchanges followed Binance's initiative following the removal from the list, indicates a "crypto ecosystem" where any piece may appear to be blacklisted. at any time. I sold my BSV coins as soon as I found a way to split them, but should not I have given them a chance to fend for themselves on the free (bad) ideas market?
More kingmakers
I leave you with this quote from the creator of Ethereum, Vitalik Buterin, last year, in which he expressed his distrust of the power of centralized trading. Buterin said:
"We can really deprive this stupid king of being able to take the power that these centralized exchanges have where they have this ability to decide which chips will become big by deciding to list them, then charging these crazy SEO fees of 10 to 15 million dollars. dollars. The more we can get out of this world and get into something that actually satisfies blockchain openness and transparency, the better. "
Binance, take note.
Disclaimer: The opinions expressed in the article only commit the author and in no way represent those of NCC.
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