CoinEx Issues Statement on Bitcoin Cash Forking – Dr. Craig Wright Dismisses as “Fraud”
It has been a frenzy few days for Bitcoin Cash (BCH) and its followers. In the pipeline, several important events have taken place. Bitcoin ABC announced a November hard fork on August 2, and Bitcoin SV responded with a version of their own on the 15th, and then a consensus meeting took place in Bangkok on the 29th to figure out a way forward among miners and developers alike. During continuation of the meeting, Bitcoin SV also released their aplha version for miners to look at the proposed changes and code structure for Bitcoin SV proposal.
In another interesting turn of events today, CoinEx, a global digital currency exchange, has made an announcement on the alleged Bitcoin Cash Forking into Bitcoin SV (BSV).
The digital exchange, posted a statement, which claimed that Bitcoin SV is an altered version of the BCH protocols and is likely to bring a potential BCH fork by causing an incompatibility with Bitcoin Cash Network and therefore, creating a new cryptocurrency asset, the Bitcoin-SV (BSV).
Statement on Bitcoin Cash Forking – Bitcoin-SV (BSV)https://t.co/IEPl5f6W3P pic.twitter.com/kJiz1vcofV
— CoinEx (@coinexcom) September 1, 2018
CoinEx dismissed recognizing BSV as a cryptocurrency for deposits and withdrawals till the currency is stabilized and its supporting wallet is available. It continued into proposing ‘cautionary’ measures by saying,
As a responsible cryptocurrency trading platform who guarantees maximum protection for customer assets, we decide to make precautions for a potential fork.
CoinEx also demanded for the Replay Protection Mechanism to be introduced into BSV and urged the developers to add mechanism to avoid unnecessary loss.
Dr. Craig Wright Reacts
Since CoinEx posted their announcement, Dr. Craig Wright, founder of nChain and spearhead of Bitcoin SV has been rapturous on Twitter, deeming CoinEx as ”fraud” and urging users to ignore it.
Please note – this statement from CoinEx is fraud.https://t.co/l0i7vlNgkS
— Dr Craig S Wright (@ProfFaustus) September 1, 2018
He further criticized the announcement by CoinEx and suggested that following suit with it will result in the user going bankrupt. He claims that SV is the original Bitcoin version, as its name suggests ‘Satoshi Version’.
He also reported that there will be no Bitcoin Cash split, and that Bitcoin SV will not be a separate fork that eventually becomes a separate cryptocurrency.
Please note, if you do as COINEX recommends – they will own all you hold and you could end with nothing.
There is NO #BCH split. SV will not be a separate fork. It will compete as per the whitepaper on hash power.
Ignore these frauds.
— Dr Craig S Wright (@ProfFaustus) September 1, 2018
Talking to BlockPublisher about whether other digital exchanges might follow CoinEx in developing an anti-narrative against Bitcoin SV, Dr. Wright dismissed the idea that if they do, he proposed a simple solution to reject them altogether, “then, do not use them.”
He maintains that he is not concerned and remains positive about SV’s prospects. When asked if he was worried regarding the fold of events, he had a bullish response for everyone to go bankrupt, if they tried and altered Bitcoin. He said,
No. Bitcoin is about hash power, not PoSM, not UASF. Time to show anyone who does not like this that they lose money. Try and alter Bitcoin and go broke.
