How much can you rely on the BCHSV Pump and Dump?

[MoonX Technologies]

Having closely watched the interesting drama that took place yesterday (26 November 2018) on the BCHSV markets, we have our analysis to this happening. We saw a sudden surge in BCHSV markets. Exchanges from Korea displayed major volume of trade.

Let’s assess this pump and dump with few evidences:

On November 15th , Bitcoin Cash was hard forked by two rival factions of Bitcoin Cash community. Bitcoin ABC (BCHABC) - Roger Ver and Jihan Wu led a faction of users that wanted to maintain the block size at 32MB. On the other side were, Bitcoin SV (BCHSV) - Calvin Ayre and Craig Wright (who claims to be Satoshi Nakamoto) wanted to increase the block size to 128 MB.

On November 23rd, Calvin published an article on CoinGeek stating that Bitcoin SV was the original Bitcoin. He said, “Bitcoin will live on with Bitcoin SV and will finally have a chance to show off the true power of the original economic model. Similarly, ABC can join with the rest of the new chain/coin models to demonstrate what they believe they can do. The models can then all compete in the marketplace and this lets actual users vote with their actions.”

Calvin had mentioned that he would have his team start working with everyone to roll out the new Bitcoin SV coin. He also mentioned that he looks forward to the CoinGeek Week Conference as the launch party for the return of the original Bitcoin and all that this will enable.

The CoinGeek Week conference is happening this week in London. Expensive tickets that cost 800 Euros-1000 Euros, were on sale. CoinGeek published an article on the event on Nov 26th , the article stressed that there were only a few tickets remaining. The article also mentioned that “one can purchase tickets today using either Bitcoin BCH on the CoinGeek website or, if you prefer, with a credit card through Eventbrite”


From the above happening, we can conclude the following:
A.   Craig and Calvin wanted SV to be considered as the original Bitcoin because of which they may have decided to pump and dump.
B.   After the article on Nov 26th about the event, the two may have decided to pump more and more BCHSV into the market
C.   The other objective with this pump and dump may have been to create a hype around the conference.
D.   Craig’s pinned tweet, and the GIF clearly hints at a hostile taking down BCHABC

According to this article by Ambcrypto, which was published on Nov 19th, Kraken has said that when it comes to the SV implementation, no known wallets support replay protection. They have also said that the miners on the SV network are “apparently subsidized or are operating at a loss”. The exchange has also admitted that they had done only very minimal code review when it came to the SV network. The exchange has reiterated multiple times about the lack of safety on the SV network. Even Bittrex has asked users to trade with caution while sending BCH/SV as there is no replay protection.

Taking the above article as a decent evidence, we can say why certain exchanges like Upbit and Binance have taken the side of BCHSV while the remaining exchanges have taken the safe road of not liquidating. It could also be seen that, BCHSV wanted to target the Korean market as a planned approach.

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[bob123]

Roger Ver and Jihan Wu led a faction of users that wanted to maintain the block size at 32MB. On the other side were, Bitcoin SV (BCHSV) - Calvin Ayre and Craig Wright (who claims to be Satoshi Nakamoto) wanted to increase the block size to 128 MB.

Each time i read that i have to smile inside of me.

The btrash network couldn't even properly handle the first few 23 MB blocks without struggling heavily.

Multiple 32 MB blocks would bring that network down, and still.. someone is even more delusional to propose 128 MB blocks 


Regardless.. both of these coins are going to die after the men behind them have made enough money. It is just a means to an end.
It makes me quite angry (and sad) that these few people steal money from a big userbase who believes the 'flippening' is going to happen.

[talkbitcoin]

that is a lot of words talking about a shitcoin!

it really isn't that complicated to begin with. there are shitcoins, they are getting pumped and dumped. meanwhile some people make a lot of money and some newbies get burned.
everything else is just noise from different sides of this process each trying to make money in their own ways.

[khufuking]

Too much attention for such worthless coins.  

[illinest]

Not very far. Pull up Binance's BCHSV/USDT chart and add the OBV indicator to see why.

Craig Wright and his buddies may have pumped it nearly 3x from the lows, but volume analysis shows heavy selling over the past 1.5 days. Large holders are unloading at the top. Don't get caught holding the bag here. This is gonna end in tears.

[i7claufe]

No! No! Everyone should just focus on a more stable coin! Why are we even here? - Anyways, I want to know about this pump & dump but I will not risk my funds for shitcoins like this!

[poodle63]

Not very far. Pull up Binance's BCHSV/USDT chart and add the OBV indicator to see why.

Craig Wright and his buddies may have pumped it nearly 3x from the lows, but volume analysis shows heavy selling over the past 1.5 days. Large holders are unloading at the top. Don't get caught holding the bag here. This is gonna end in tears.

I'm still waiting the next drama when jihan will try to dump all of his shitty vision cash to the market. This will be a very interesting thing to see that.
Faketoshi will be gone for sure.

[ICO-Master]

I hope that all this drama helped to drain the wallets of these bad actors.

[Bowtiesarecool]

Too much attention for such worthless coins.  

They'll definitely get the attention because the fuckers decided to end up effecting true Bitcoin via hashrate and dumping coins. It's a big pain but it's true these fuckers get our attention.

Well, we now have a nice price to pay for all the nice attention these charming Ian Forks have been channelling at us these past few days.

SEC Chair Clayton: Crypto ETF Needs Exchanges 'Free From Manipulation' - CoinDesk
https://www.coindesk.com/clayton-sec-ico-funding-security-offering

SEC now has another reason to hold ETF down

[Keyboard PC]

I was not too concerned about Bchsv and its opponents, I only used the coin price movement to find and grow the assets that I had so that I became wealthy by utilizing that movement.

[dinoloverpete]

Roger Ver and Jihan Wu led a faction of users that wanted to maintain the block size at 32MB. On the other side were, Bitcoin SV (BCHSV) - Calvin Ayre and Craig Wright (who claims to be Satoshi Nakamoto) wanted to increase the block size to 128 MB.

Each time i read that i have to smile inside of me.

The btrash network couldn't even properly handle the first few 23 MB blocks without struggling heavily.

Multiple 32 MB blocks would bring that network down, and still.. someone is even more delusional to propose 128 MB blocks 


Regardless.. both of these coins are going to die after the men behind them have made enough money. It is just a means to an end.
It makes me quite angry (and sad) that these few people steal money from a big userbase who believes the 'flippening' is going to happen.

I'm not even convinced it's about money for them anymore, they all have plenty enough millions to just piss off and retire yet they're still around. It seems to be more about power and ego than anything else. Sad because most of us in their position would be enjoying our lives and using the success we've had for good.

[sinkfish]

bitcoin cash does so many feud. make a mess to the whole market. sigh.

[Prina1]

It's  more of a political war of few egoistic people. Roger Ver directed 30% of his pool hash to BTCABC and were mining blocks of very low sizes. The market needs to get flushed i guess till BTC $2800  and then we can expect to get new money only after that.