What is happening with BitcoinSV

English Trading
1

I honestly believed that BitcoinSV was a scammy project and Craig Wright is not a trustworthy person. How come that his false (I assume) claims to be Satoshi and filing a patent request could have such a drastic impact on the price? Do people really believe him or is it all artificial?

I am not asking because I want to invest or anything like that (still feel like BSV is not a trustworthy project) but I am generally interested…

2

What makes you sleep at night? Good fundamentals, a project with philosophy about changing lives for the better at relatively lower gains (possibly at a loss at the moment)
or <insert whatever adjective for Craig Wright> and high gains.

I just try to ignore BSV. It has been delisted on multiple exchanges so whales may have more power on the exchanges where it’s still listed.

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I know, I hold no sympathy for BSV and I am not planning to possessing any BSV tokens. I just don’t understand how there are so many people believing that project… how else to interpret the sudden rise in price?

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Whales? People moving their gains from other coins to BSV? I’m not a technical analyst but BSV charts seem pretty artificial (not enough squiggly lines) I don’t trust it.

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5

It’s very easy to manipulate BSV price for a few reasons:

  1. There’re actually not that many BSV coins in circulation. BTC real circulating supply is roughly 14mil (at least 3-4 mil has been lost forever). Then we take BCH fork - more coins lost forever, because not everyone has bothered to cash them out. Now we take BSV fork, and even less coins remains in a circulation. So its real “Circulating supply” should be around few million coins, not 17 million. Which would put it waaaay below in CMC list.
  2. Low trading volume (especially after Binance and Kraken de-listings). Most of it is fake.
    So some whale moving some BSV around creates massive spikes.
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Pump seems to be triggered by fake news in China about BSV getting re-listed on Binance.

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At least bsv makes trader rich

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There’s always a losing side to a trade. Trader B FOMOs in. Trader A sells to trader B at a high. Trader A is richer, trader B is stuck with the bag, much worse when it dumps. Bitconnect made some people richer. That doesn’t mean it’s a good thing.

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9

SV is mooning! Fake Satoshi is probably using market makers to inflate the price so he can sell at the top then it will tank. He needs $$$ for his upcoming court case.
I hope his sneaky scheme back fires.

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Bitcoin SV is a proper SHITcoin, honestly who cares if it`s pumping, im not putting a single satoshi there, love my slow and steady healthy gains #ADA ;3

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11

It’s best to just ignore BSV. Due to the fact that CSW and his friends control the vast majority of BSV market cap and mining hashrate, they can keep the price artificially high even if it does not have much outside support or usage.

At least BCH has a general philosophy for user adoption, so if you are looking for variant to Bitcoin beside BTC, then you’re better off with Roger and his BCH.

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There are so much idiots around the globe
Sometimes explanations are simple!

Ignorance, FOMO, Hype, greed and stupidity

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A person twitted this about fake news about BSV ( the post from @xxrsee )
And to make it even worse I am pretty sure most retail knows it is fake but ride on it anyway hoping to exit before it collapses, like a Ponzi.

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Learning starts with ignorance and stupidity. Eventually, you either learn or get Darwin-ized out of existence. Past me would have surely FOMO’d in to BSV. I, myself, made stupid mistakes last 2017 resulting to terrible losses that would want to make me roundhouse kick my past self in their sleep. I would be lying if I said I didn’t regret it. But that reality slap from experience made an impact to me worth a lot more than my loss.

There are so much idiots around the globe

I was one of those idiots and may still be one. But I am getting better with keeping this idiot in check.

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16

Indeed my friend, me too!