Bitcoin SV’s sudden surge from $65 to $195 was caused mainly due to FOMO after the news about Craig Wright’s patent on Bitcoin Whitepaper broke out. The coin did breach the top-10 list when it pumped; however, it settled down to its original position of 12. At press time, it overtook Tron, and is the 11th largest cryptocurrency according to CoinMarketCap.

The crypto, at press time, was priced at $112 and had a market cap of $1.98 billion, just below Cardano. BSV, in a 24-hour timeframe, was still up by a massive 77%; however, the price dipped by 24% in an hour, from $148 to $112.

Source: TradingView

The Bitcoin Whitepaper patent caused most of the prominent people in the community to lash out against Craig Wright. Monero’s Fluffypony, tweeted:

PSA: Craig Wright is so dumb he made it illegal to run Bitcoin SV testnet using the Bitcoin SV code when he illegally relicensed it. He claims to be a lawyer, but fails to get something this simple correct…?

h/t @amritabithi pic.twitter.com/RmgN7iYflq

— Riccardo Spagni (@fluffypony) May 21, 2019

Peter McCormack, the host of What Bitcoin Did, podcast tweeted:

Oh oh Craig. https://t.co/82oAsx8i9a

— Dr. Peter McCormack (@PeterMcCormack) May 21, 2019

Although the copyright for the patent doesn’t fully mean that Wright is Satoshi, crypto Twitter started doing what it does best- troll. Alistair Milne tweeted:

BREAKING: world’s biggest dating app Tinder believes Craig Wright is Satoshi Nakamoto, having allowed him to register the username/handle “iamsatoshi” Alternative aliases he has also been successfully granted include: “iamricherthanyourcountry”
and “billionairemode1970”

Jake Chervinsky, a lawyer, tweeted:

This is nonsense. There's literally no such thing as being "awarded a copyright" under US law. The only real benefit of registering with the Copyright Office is the right to sue for statutory damages & attorney's fees. Craig Wright's copyright registration is meaningless theater. https://t.co/hQ0xrX0Tv2

— Jake Chervinsky (@jchervinsky) May 21, 2019

Ironically, Bitcoin SV got delisted after its pump followed by a dump. Float SV tweeted:

“Based on a lack of trading volume, Float SV will be delisting BTC/USDT, BTC/USDC, and BTC/TUSD on Friday at 5pm CST. Details to come. Deposits and withdraws for associated assets will remain supported.”

The post Bitcoin SV drops by a massive 24% in an hour after Bitcoin whitepaper patent backlash appeared first on AMBCrypto.

360 +