Coinbase Will Completely Remove Bitcoin SV By January 9

Long-time Slashdot reader UnknowingFool writes: Coinbase, America's largest cryptocurrency exchange, has announced they are completely removing all support for Bitcoin SV (BSV) by January 9. All current holders of that cryptocurrency on the exchange will need to withdraw or the assets will be liquidated after that date. Bitcoin SV is not the original Bitcoin but a fork supported by Craig Wright. This removal follows a delisting in 2021 after the cryptocurrency suffered a "51% attack." Since that time clients have not been about to buy or sell Bitcoin SV on the exchange. According to CoinGecko, Bitcoin SV is currently the 53rd biggest digital assets, with a market cap of $967 million.

Is Coinbase the last man standing?

[MIPSPro]

I saw Binance is done in the US, now. Is Coinbase the last easy place in the US to exchange Bitcoin for USD or are there tons of exchanges and such still open? I don't own any crypto. So, I'm just ignorant. Could someone summarize what they think the current "state of the art" is with actually easily spending and exchanging crypto for fiat? I could ask ChatGPT, but ... you know.

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[Powercntrl]

Could someone summarize what they think the current "state of the art" is with actually easily spending and exchanging crypto for fiat? I could ask ChatGPT, but ... you know.

It's been said to death already. Unless you're either into some sketchy dealings yourself or having to pay other shady types (such as ransomware crooks), there's very little utility to cryptocurrency beyond the speculative greater fool "investment" aspect. Yeah, there are some fringe cases where you're trying to legally do a transaction with a legitimate business that traditional banks and payment processors refuse to work with (usually that'd be pot shops in states where it is legal), but for the most pa

Re: Is Coinbase the last man standing?

[reanjr]

For U.S., Kraken and Gemini are still major players. Gemini has seen some recent bad press, but is still well trusted. Kraken is very popular, but is not available in NY or WA due to specific regulations in place in those states that Kraken doesn't feel the need to comply with.

OTC transactions are still a thing, but harder to find after LocalBitcoins went under.

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[iAmWaySmarterThanYou]

"Come on baby! Red 7! Red 7! I'm feeling hot tonight! Come on red 7!" does make more sense than buying crypto. Your odds are better long term.

Re: Is Coinbase the last man standing?

[BadgerStork]

The storj is about telling customers that they have to move their BSV somewhere else. P.S. I am not a criminal but I use crypto crap coins every month. For instance, I deposited some bitcoin into my revolut bank account to pay for parking on Saturday

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[brunes69]

Coinsquare is a Canadian company that still exists and operates well.

In Canada, Wealthsimple is a large financial services company that supports crypto among many other things. They are probably one of the most "mainstream banks" in the world that supports Crypto transactions.

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[phantomfive]

If you just want to buy Bitcoin, and don't want to get exotic NFTs or something, then the easiest way is just be a regular account with Robin Hood or Paypal or another bank. Some banks even offer crypto rewards. The startup exchanges have been replaced by more powerful players.

Re: Is Coinbase the last man standing?

[strakerc]

BinanceUS and crypto.com are still centralized exchanges (CEX) that work in the US. They also each have decentralized wallets (DEX/DeFi) that are really good. However, it has gotten to be a pain in the butt, NGL. Nexo was the best and I'm sad they pulled out of the US.

Coinbase's Breakup Text to BSV: 'We Need to Talk..

[Press2ToContinue]

Well, in the latest episode of "Crypto's Got Talent," it seems Coinbase is giving Bitcoin SV (BSV) the kind of farewell usually reserved for malware on a hardcore geek's Linux rig. "Remove or be liquidated," says Coinbase, in a tone that's less 'friendly reminder' and more 'mob boss ultimatum'. One can't help but imagine BSV as the red-shirted crew member on the Starship Enterprise, blissfully unaware of his impending doom.

BSV's facing the kind of rejection even a buggy IE6 would sympathize with. It's li

I told all my friends to invest in ugly monkeys!

[thesjaakspoiler]

because you can't trust Bitcoins! Much to volatile!
At least I now own an cryptomagically blockchained link to some picture of which I didn't even get a copy.
Not that I can enjoy pictures anymore after getting half blinded by the laser show at the Ugly Monkey Convention.

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[Powercntrl]

Not that I can enjoy pictures anymore after getting half blinded by the laser show at the Ugly Monkey Convention.

It was actually UVC bulbs used to illuminate a non-functional toilet exhibit [youtube.com]. Seriously, you can't make this kind of stuff up. Eye damage from the lighting around decorative frigging toilets.

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[TechyImmigrant]

>Much to volatile!

Volatile is not a verb. It should be though.

51% attack you say?

[The Evil Atheist]

I was told that was impossible.

Have the tech bros with something to sell been lying to us all this time?

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[Powercntrl]

I was told that was impossible.

With proof-of-work coins it's simply a matter of hashrate. I'm actually surprised it doesn't happen more often.

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[UnknowingFool]

It is not impossible; it is hard (expensive) to do for large cryptocurrencies as it requires the shady party to control enough pools. That is probably the main reason you do not hear about it for the larger cryptocurrencies like original Bitcoin. Now for smaller ones like Bitcoin SV, Bitcoin Gold, it has happened.

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[thegarbz]

I was told that was impossible.

Literally no one has claimed a 51% attack was impossible. It is literally a mathematically proven fact that it is possible. In fact everyone even crypto bros will tell you it is not only possible, but far more likely to happen on unknown weirdcoins - so invest in Bitcoin today since it's so unlikely to happen to a major coin!

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[The Evil Atheist]

Literally no one has claimed

Don't be fauxtistic nerd.

BSV is not a normal blockchain, it should go

[witherstaff]

BSV is worth getting removed. The courts rejected the claim that Wright is Satoshi so why would anyone want to support such a dev. (I mean this isn't like US politics, court cases matter to techs). Also BSV has absolutely huge blocks. The entire blockchain is over 9 TB, while Bitcoin is only about 500 GB. No one wants to be a full node for BSV. Also BSV is not a normal blockchain where ownership of a private key gives you permanent ownership of a crypto asset. . BSV wants to implement a way to reassign BS

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[Powercntrl]

Great idea if some day you wanted to sue your way to reclaiming 1 million original Bitcoin of Satoshi.

Why not? Every time I drive down I-4 I see tons of billboards for lawyers with big award amounts on them like it's some kind of lottery. Suing someone to get rich is as American as apple pie.