Why BSV was Delisted

08/13/2023 05:14 • Metaverse & Beyond • 69 views

Why was BSV delisted? Today, BSV has been delisted. Why does BSV no longer support mining? This is to prevent a drop in coin price and has chosen to go offline. This is because all the mined bitcoins have been locked in cold wallets and cannot be traded or withdrawn.

So, if you haven’t noticed, there have been many issues or hacker attacks on exchanges in recent months. These security vulnerabilities have resulted in more significant financial losses than before. Therefore, we have decided to stop all mining activities and clear all mined BSV. However, due to the fragility of the industry, some projects have started implementing measures to restrict their own mining activities.

What about long-term holders? They will only consider doing this when such situations occur.

First, we need to be clear that this time it is due to a newly launched mining pool called “BSV.” Users can only withdraw their BTC, ETH, and other tokens from the mining pool. However, with the occurrence of this delisting event, the mining power will continue to increase, affecting the entire network and further reducing mining fees. Of course, there are two reasons: one is that the mining pool needs to maintain its node rights, and the other is that the team itself will not serve anyone (like themselves). These earnings also need to be invested in the community rather than allowing miners to participate. On the other hand, due to the long-standing nature of this ecosystem, developers have little to no motivation to build.

Another viewpoint is that of “mining equipment manufacturers” – companies that use blockchain technology to solve some problems, including how to ensure the security of servers. However, in reality, there are not many such companies. They can only continuously modify existing protocols to make them more efficient and cost-effective, reducing resource waste and operational pressure. Additionally, they may face serious regulatory scrutiny and related legal risks, or even personal financial difficulties caused by improper statements, causing panic selling in the market.

This is why many people previously believed that BSV was a Ponzi scheme. And later, the founder of BSV, Yang Haipo, also said, “I think this is one of the worst things I personally feel. I know he will eventually leave.”

About BSV, many people have had doubts, and since someone mentioned whether there will be another version of BSV after this, it is certain that the information about this version should be revealed first, and then see if the official will release a new whitepaper. However, this software is indeed complicated, but it can still run, and it will be officially launched in the near future. Next, the function can be directly implemented with code, although it is written simply above, it is still challenging and difficult to understand in practice.

Now let’s explain the issue of why it was delisted:

1. Currently, there are too many circulating BSV on the market (according to statistics), with approximately over 80% issued only in October 2017. This means that BSV only forked off in early December of that year, and the price was around $1 at that time. Now, the price has dropped to around $3.

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Why BSV was Delisted

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