Vitalik Buterin Considers Bitcoin SV (BSV) Nothing But a Complete Scam While Praising Binance
- Buterin claims Bitcoin SV is a scam
- He also said that Binance has a lot of power in the market
Vitalik Buterin, the co-founder of Ethereum (ETH), talked about the cryptocurrency market, Bitcoin SV and Binance during an interview for the Geat Ave podcast. He said that Bitcoin SV (BSV) is a complete scam and that Binance has “a lot of power.”
Vitalik Buterin Against Bitcoin SV
During his conversation with the YouTuber Hardcore Crypto, Buterin explained that BSV is a scam. He has also commented about the decision that Binance took when it delisted BSV from its platform. He said that it was an interesting argument because he was in favour of it but it is also possible to say that the exchange is centralized and it shows its power.
About Binance, Buterin explained that the exchange has asked for big listing fees and it decides which are the trading pairs that virtual currencies have. This is something not good for the platform and the crypto community as a whole.
This is not the first time that Vitalik Buterin criticizes Bitcoin SV. The digital currency was created as a hard fork of Bitcoin Cash (BCH) back in November 2018. Buterin said that although he has his disagreements with Bitcoin and Proo-of-Work (PoW), Bitcoin SV is
“a pure dumpster fire.”
He even mentioned that the idea of having 128 MB blocks is an “insanely stupid idea.” Indeed, Bitcoin SV has almost empty blocks, even when they have space to process a large number of transactions. During the third quarter, Bitcoin SV is expected to release an update with 2 GB block size and it would become one of the most scalable blockchains in existence.
At the time of writing this article, Bitcoin SV is the 8th largest cryptocurrency in the market with a valuation of $4.11 billion according to CoinMarketCap. Moreover, it has a price per coin of $230.