What's the deal with BSV and the space cat?
Around an hour ago BSV (Bitcoin Satoshi's Vision) was de-listed from the largest crypto exchange; Binance. Why? Because Calvin Ayre and Craig Wright went after a Space Cat on Twitter.
Let's start with the space cat, who is he? Well, that's kind of the point, Hodlonaught is anonymous. Little is known about him, he's a Norwegian twitter user who's been active in the cryptocurrency community for many years. The lightning torch you've likely heard about which was recently with eToro's own Mati Greenspan, after making it's way through the A-list of crypto personalities was started by this mysterious cat. Along with promoting the Lightning Network he has always been vocal about big issues in the broader crypto-space. He's a Bitcoin maximalist, and on numerous occasions spoke out against a variety of alt-coins. More recently he shared his opinion on Craig Wright, the Australian man who claims to be Satoshi Nakamoto, the founder of Bitcoin. Hodlonaught, along with a few others in the community was pivotal in starting the Faketoshi and CraigWrightIsAFraud hashtags. His name, Hodlonaught is now a hashtag in itself. So what's the big deal? Well, Craig and Calvin were not too happy as the crypto twitter community rallied against them using these hashtags. They set out to censor these individuals, threatening to take them to court for defamation. They even put out a $5,000 bounty for anyone who could dox Hodlonaught, revealing his true identity. After a few weeks the letters started landing with many big community figures in twitter. Peter McCormack, a UK based crypto podcast host and influencer published the letters on his twitter a few days ago.
At the same time as this, Elizabeth Stark, CEO of Lightning Labs started a legal defense fund for anyone to donate to using Bitcoin and the Lightning Network - WeAreAllHodlonaught.com .
Yesterday Peter McCormack shared his official response to Craig and Calvin's legal threat, stating that he had 15 lawyers eager to take the case should the duo persist.
Finally today, CZ finally did what he had threatened to only days earlier, Binance de-listed BSV. When announcing it on twitter, he simply said "Do the right thing". Although I am by no means a Bitcoin maximalist, It always felt inevitable that a moment like this would eventually come. During the Bitcoin Cash fork I made my feelings very clear that I believed the project was little more than a scam, utilizing the Bitcoin brand to fool people into supporting the project. Craig Wright, took this to an entirely new level by fraudulently claiming to be Satoshi while offering zero evidence. Not only that, but his actions are entirely opposed to everything we know about Satoshi. Satoshi would never use a state legal system to settle a dispute, he would never attempt to censor anyone, the entire Bitcoin project was about avoiding censorship. So far, BSV is trading at -13% for the day. I stand by my prediction that BSV will fall out of the top 20 coins by market cap before the end of 2019. The news is of course, great for Bitcoin, this could, perhaps be the final nail in the coffin of what is ultimately one of the most misleading projects in the entire crypto space right now.