Editorial

Calvin Ayre

Exchanges need to delist ABC Coin immediately!

In light of the mess made of the November 15 Bitcoin Cash upgrade and the billions of dollars knocked out of the overall cryptomarket as a result of Bitcoin ABC’s reckless behaviour, we’re asking cryptocurrency exchanges to delist Bitcoin ABC until they implement replay protections on their chain.

As more information comes out, the ABC group has been planning this mess for months with the assistance of at least one exchange and we believe many more. It’s now clear Kraken put their finger on the scale as Jesse Powell was looking to tip the fight in favour of his principal investor and high school compatriot Roger Ver and now he’s tied together with their group in a civil suit brought Thursday in Florida.

It’s as I predicted and I don’t think it will be the last suit brought as a result of this mess. A lot of people lost a lot of money, and they’re going to go after those conspirators.

It’s not just spurned investors and lawsuits these exchanges need to prepare for as I hear from my sources the FBI’s Cybercrimes unit is looking into the actions of the American based individuals and companies allegedly involved. It’s a sexy case for any state attorney general who has larger political aspirations.

It’s time for Bitcoin to grow up and mature. It is crucial that we move past the anarchy and wild west thinking of some bad actors who set it back and hold it back from reaching mainstream respectability.

ABC Groups recklessness has erased billions across all markets, and much of the hard work by the dedicated and respectable individuals and companies in this space is for naught as we again must begin anew in so many areas.

If respectable exchanges delisted ABC from their markets until they implement replay protection to protect customers from future accidents from this reckless behavior, it would be an excellent first step in regaining respectability and leaving the wild west in the past. It is also important to limit the damage being done for exchanges to immediately enable full support of the original Bitcoin which is now called Bitcoin SV as not doing this is compounding the liability of all co-conspirators whether named or not in the existing legal actions. 

It is clear that everything will now come out on this conspiracy and its equally clear that all those involved need to now work hard to limit liability.

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