Recently, exchanges Bittrex and Bitvavo announced their plans to delist Bitcoin SV (BSV). That is no surprise to me, as I have already written about why exchanges delisted BSV in 2019.
We are in 2023 now, so this seems to have become kind of a tradition in the so-called ‘crypto’ sphere. Delist BSV wherever you can, whenever you can, and in cycles, so people remember, “Oh, this Bitcoin SV is being delisted all the time.”
Correct. It really is being delisted all the time. For example, by Robinhood not too long ago.
Even though the Bitcoin Association provides tools and assistance for exchanges to easily onboard their customers to the BSV network. However, their “holy tradition” pays no attention to details or truth.
Calm down, low liquidity anyways
Bittrex and Bitvavo are not delisting BSV because people are swarming their exchanges to purchase BSV. On both exchanges, BSV has had low trading activity—for years! That is where we have to point the finger at ourselves.
There was not much demand to buy BSV on Bittrex or Bitvavo. Occasionally there were some spikes in activity, of course, but in general, it was of no great interest to the “crypto people” to get BSV. So not enough demand—yet.
However, this is not the true reason exchanges delist BSV, and I can prove that easily. There are tons of nonsense coins being listed and supported by exchanges that also have low or even near zero demand behind them.
Insufficient trading activity is a reason to delist digital assets, but that is not the reason when we are talking about the BSV blockchain. The BSV blockchain and its most public figure Dr. Craig Wright are under a vicious commercial attack.
What I am trying to say…
As a supporter of the BSV blockchain, one might feel threatened by these delisting rhythms. But as I said, there was low liquidity and little trading activity.
So being delisted on exchanges that had no relevant trading activity concerning BSV is basically as if nothing happened. Because before the delisting from Bittrex and Bitvavo, nothing big went on there with BSV anyways. What are we even talking about here?
CEO of Bitstocks and BSV supporter Michael Hudson calls for the BSV community to fully rely on their own exchanges:
Thank you @womenofbsv for providing me a platform to speak on Gravity and also state of BSV & why we need our own exchange in this community.
Michael Hudson – Bitstocks Gravity – Bitcoin – AI – UFO's and Time Co… https://t.co/0TEtqSH5w4 via @YouTube
— Michael Hudson (@btchudson) March 25, 2023
I feel the same. However, maybe all these delistings will force us to finally denominate stuff that happens with the BSV blockchain in Bitcoin SV sats. Exchanges are needed, but only for things that happen off-chain.
BSV is going where no exchanges have a place
We can take Bitcoin inventor Dr. Craig Wright by his word. In 2014, he said that Bitcoin is the future of everything data-driven. This is where prolific Bitcoin entrepreneur Jack Liu agrees. Liu sees a time when everything we do will be an on-chain transaction.
The tradition of delisting BSV is from the pre-Bitcoin age, even though it is happening right now. We have not entered the Bitcoin age yet, but we are entering now.
Once all known cryptocurrency exchanges have delisted BSV, we will be able to have price discovery. Not in fiat money but in the goods and services we exchange for BSV sats.
By the way: BSV wallet provider HandCash is working on a way to send your BSV directly to your bank account—as in a frictionless transfer from BSV to fiat and back. Other wallets, such as RockWallet or CentBee will undoubtedly follow that path.
Another BSV-friendly wallet called Centi from Switzerland has enabled a Swiss bank-backed token—yes, a Swiss Franc stablecoin running on the BSV blockchain. This is utility, and utility creates demand, and demand creates trading activity, and trading activity creates liquidity, and liquidity … this is boring but true.
We will have our own exchanges, but the term “exchanges” will fade. It will all happen in the wallets and on-chain.
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