Influence of Big Exchanges


#1

Writing this here due the recent event of several major exchanges delisting Bitcoin SV.

First of all i’am everything else but NOT a Bitcoin SV holder, sympathisant, fan, believer, whatever. Actually all my sympathies in the BCH ABC vs. BCH SV war go to the ABC team which is now the official BCH.

However, reading the article below it made me realize how much POWER we daily give to the major exchanges, how much of influence by now they have and how they can literaly destroy a whole project within a day.

Bitcoin SV has today a market cap of about 1B US$ after a loss of about ~30% due these delisting announcements, or in digits, more than 350,000,000 US$. Is it really ok to have centralized exchanges make such decisions and influence a projects future or even right to excist?

Giving exchanges similar “power” like regulators to decide their own which project “deserves” a future doesn’t sound right in my opinion. Shouldn’t it be us, the people to choose which currency fits our standarts, believes, needs, whatever? This sounds like too much power in the hands of a handfull major exchanges.

Than back when the BCH war begun due my sympaties for the ABC team i sold immediatly all the BCH SV holdings, lucky for me this turned out a good decision today. But what about all the holders that had for whatever reason faith and believe in BCH SV? Due a decision of a few exchanges these people lost a lot of their holdings. While i absolutly dislike BCH SV this just goes way to far.

Just some thoughts on these recent news after thinking a bit about it.

https://bravenewcoin.com/insights/major-exchanges-drop-bsv-after-weareallhodlnaut-social-campaign


#2

I agree exchanges have massive power, its why we get excited when they list us. Same goes for regulator approval, etc.

I have no sympathy for BSV. Imagine how the world would react if the CEO of a billion dollar company behaved like they have, somehow in crypto thats accepted but it shouldnt be.

There should always be consequences to actions (good & bad) otherwise theres no incentive to do the right thing. I’m surprised this didn’t happen sooner.


#3

As said, i dislike BSV my own, but should it really up to single persons/exchanges to decide when/if/how the consequences should be?

As much as i don’t like anything said/done by the BSV team that much i don’t think the CEO of Binance for should talk/act in such manner like he did as "more of that sh!t and you get delisted…

A regulator is a regulator and if we like it or not, the decisions are at least backed by some legal frame. But decisions by major exchanges are just backed by, let’s be honest, a one-man-decision, which may occur for whateve reason.


#4

I think yes - private companies can do whatever they want but have to face the legal consequences of their actions, they can also decide who they want to do business with.

Applies to both players in this scenario and they’re behaving like 5 year olds - although IMHO its a smart move from Binance as its got them a lot of attention/publicity & support from BTC maximalists.