ShapShift delisting BSV

[Kemarit]

So I doubt that they will exercise they kind of power again.

Sure, but I'm uncomfortable they even have that power to begin with. The whole point of crypto was to move away from money being centralized, and other people having control over your funds. Now sure, these are private companies and can delist whatever they like, but having such power over the market with no oversight makes me a bit uneasy.

Exactly, I'm worried that exchanges have so much power to kick out coins right now. It may have set a precedence.

I can't see BCH ever being delisted unless Ver goes wild like CSW has. Coins which are even scammier than BCH like Bitconnect and EOS haven't been delisted on the basis of "scaminess" alone. It took CSW trying to sue people over nonsense for SV to be delisted.

I agree that we all hate what Bitcoin Cash did to the ecosystem back in 2017. But it's unlikely, even if that online petition gain traction to suddenly delist BCH as well. Roger Ver is not that stupid as compare to CSW to make a sudden move that will cause Binance to delist them as well.

[TryNinja]

Exactly, I'm worried that exchanges have so much power to kick out coins right now. It may have set a precedence.

They are centralized. They always had and always will have this power. It’s up to the community to agree with their choice (what happened with BSV) or not (then, just move to a different exchange, making they lose money).

I agree that we all hate what Bitcoin Cash did to the ecosystem back in 2017. But it's unlikely, even if that online petition gain traction to suddenly delist BCH as well. Roger Ver is not that stupid as compare to CSW to make a sudden move that will cause Binance to delist them as well.

There is no valid reason for them to delist BCH just because a part of the community hates it. Remember they make money on trading fees.

[gentlemand]

Exactly, I'm worried that exchanges have so much power to kick out coins right now. It may have set a precedence.

I think this is a total one off myself. I really don't believe there will ever again be any project so universally despised that everyone comes together in this manner.

Exchanges have happily hosted demonstrable pieces of shit for years. The difference is that the people operating them kept themselves to themselves.

[Slow death]

https://twitter.com/ErikVoorhees/status/1117842010793099265

Erik Voorhees confirms that they are also de-listing BSV in support of #Hodlonaut.  

faketoshi has already done a lot of damage in the crypto world, and many people have already realized this and that's why they will do everything to remove it from the crypto world

Why should these few individuals get to choose which coins are "allowed" to continue and which will die?

they are the owners of the exchanges and there is nothing wrong with them choosing which currencies should be in their exchange and which currencies should not be in their exchange, and this was the opportunity for exchange owners to show their great power so that faketoshi remembers that he is not the owner of the crypto world and is not the most powerful

[figmentofmyass]

But on the other hand, I'm a little bit uncomfortable with a handful of individuals having such power over the market. What if CZ announced tomorrow that he thinks BCH is the future and Binance will be delisting BTC? (A ridiculous hypothetical I know, but the metaphor still stands.) Why should these few individuals get to choose which coins are "allowed" to continue and which will die?

i felt similarly uncomfortable during the blocksize debate and lead-up to segwit activation. coinbase, bitpay et al tried to use their economic influence to force protocol changes. why? because high fees were costing their businesses money and they only care about profit, not bitcoin.

same shit here. it's really transparent what CZ is doing, same as his obnoxious virtue signalling with notre dame and other publicity stunts. it really puts a bitter taste in my mouth. this is all about building a brand for binance. that's all he cares about. it has nothing to do with bitcoin or "the community". it's becoming repulsive how transparent he is. i really wish he would just shut his mouth and stop waving his dick around for a while. i don't give a shit about BSV but it annoys me that CZ is the one who basically decided whether it lives or dies.

binance is getting too big for its own good. they're becoming the bitmain of exchanges and it's not a good look at all.

[TheHas]

BSV is an example of what can happen with centralized exchanges. Even though he is probably faketoshi, having a few big businesses dictating the coin price so drastically is not a good thing.

Sooner we can reliably shift to secure decentralized exchanges the better. I mean seriously, Binance doesn't do much for crypto other than providing a forum to trade coins that actually are doing something for crypto.

[bittraffic]

Well its going to be that way not as binance seem to be the leader of this market. Exchanges still have their option to keep BSV trading but how long will they keep it when there is no support. They make money out of the fees if there in't volume there will be less money to make.  It would be funny to see CW sueing CZ for libel.

[o_e_l_e_o]

that's all he cares about. it has nothing to do with bitcoin or "the community".

Agreed. We saw the same pattern of behavior over the last few years with Coinbase. They started out with what seemed like a genuine interest in bitcoin's development and adoption, but then we saw their behavior change to that driven by pure profits - not giving customers their free BCH, insider trading, breaking their own rules to list the coins that their own shareholders are holding, the whole scandal with Neutrino, selling users' data, etc.

Seems like Binance are starting to move the same way, caring more and more about profits and less and less about the community that built them up in the first place.

[Zadicar]

binance is getting too big for its own good. they're becoming the bitmain of exchanges and it's not a good look at all.

Its really too big but craving for more wont really give out possible positive results.It would be better if he do just do things that arent obviously tied up or showing up his
power where he do announce things according to his likes.Looking at on BSV, he might have the points and crypto community do support his view but on the other hand it shows
how exchangers centralized are.About that Notre Dam restoration it turns out the he's already overboarding.

[gentlemand]

Seems like Binance are starting to move the same way, caring more and more about profits and less and less about the community that built them up in the first place.

No exchange is a friend to anyone but themselves. They only exist to extract money.

S2X and all the other shit had the might of not far off every moneyed player of note. The users turned around and told them where to stick it. No one is bigger than the scene that created them. They all wind up getting a spanking if hubris gets the better of them.

In this particular case everyone other than Craigy and his skeevy bum chum recognises SV as a piece of toxic shit. I have no problem with this particular action because consensus is behind it. Maybe Binance sparked it but everyone was feeling it anyway.

It's a unique set of circumstance that won't occur again.

[Pearls Before Swine]

My, my.  BSV is looking more like the Titanic every day, and if occurrences like this continue there will be nowhere to trade BSV.  Fork coins have a stench about them that was never agreeable to me, and I am not displeased at this news.  Shapeshift is an outstanding instant trading service and this is going to be a huge blow to the coin.

They make money out of the fees if there in't volume there will be less money to make.  It would be funny to see CW sueing CZ for libel.

Yes it would.  And you are correct about the profit coming from volume, where profit margins are generally quite small for exchanges.  However I would think that it might be profitable right now to have BSV listed, since many investors are going to be dumping it.