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Bitcoin [BTC] developer Jimmy Song lists 3 reasons why Bitcoin SV [BSV] is a “scam”

ambcrypto.com 17 February 2019 03:00, UTC
Reading time: ~4 m

Bitcoin SV [BSV] has been met with a host of varied opinions from the global cryptocurrency since it emerged three months ago, from being lauded as the true vision of Satoshi, to being called a “dumpster fire,” BSV has seen it all.

Recently, Jimmy Song, a developer of the top cryptocurrency Bitcoin [BTC] and author of the book, “Programming Bitcoin,” called BSV a “scam” and listed out three specific reasons for his conclusion, via a video on his YouTube channel, “Off Chain with Jimmy Song.”

He starts of the video by referencing the Twitter trolls who tout that Bitcoin SV is the more principled coin that wants to achieve the true vision of the founder of Bitcoin, Satoshi Nakamoto. Song, lays all these claims to bed, citing his three reasons, which come under the overarching theme of:

“Bitcoin SV is clearly, clearly, a scam.”

The primary reason for Song’s attack is, Craig S Wright, the Chief Scientist at nChain and the biggest backer of the BSV project. During the November 2018 hardfork, which eventually resulted in BSV splitting from Bitcoin Cash [BCH], Wright came out in fierce support of what he envisioned as the vision of Satoshi. He even claimed that he is the, “real Satoshi,” a rallying cry that he touts even today.

Song’s opinion on Wright, however, is unwavering:

“He’s (Wright) a known scammer, he’s never produced a signature as Satoshi. He’s claimed to be Satoshi from the very beginning, he hasn’t produced anything of note. He hasn’t coded anything, he says ridiculous stuff. He uses only social signalling. He doesn’t provide any proof of anything. And, the guy has been a con-artist for a very long time.”

Craig S Wright, recently went on a tirade about how he, “was Satoshi,” for which he received a lot of flak from the crypto industry. Known for being very verbal on Twitter, Wright even got into a heated dispute with Wikileaks, which he brands a “fakenews cesspool.”

Wikileaks did not take things lying down, the news organization claimed and even produced evidence of Wright editing a blog post from August 2008, which he wanted to use to prove that he was involved in cryptocurrencies over a decade ago. Wikileaks, and many in the crypto-community labeled Wright as “faketoshi” since, a label that Song would approve of.

Song cites the lack of development coming from the Bitcoin SV camp as the secondary reason for the coin being a scam. He stated:

“You can look at their GitHub, they’ve done nothing over the past two months. They are not really trying to fix anything. They apparently have some sort of private development. They do not accept any pool requests, they are not into open source. It’s anything but a secure protocol. At some point, I expect them to release a full node software or something like that that is straight up malware. They don’t do any open source, they are not doing any development, they are not progressing.”

Craig Wright is the spearhead in the BSV application process, whom Song refers to in this jibe as a “con-artist.” The nChain executive has formulated ideas of applying the Bitcoin SV blockchain into the realm of online peer-to-peer payments and to use the BSV wallet as a smart card authenticator, which can be used to verify passports.

The third reason for Song’s disavowing Bitcoin SV, is the attitude emanating from the BSV camp, particularly from their major proponents, Craig S Wright, and Calvin Ayre. He described their behavior as “peculiar,” and referenced the fight for control during the hardfork, which he called a “crapfest with Bitcoin ABC.”

He added:

“The fact that they continued to fight, and use their money to try to prop up this useless coin, it should tell you volumes about what they’re trying to do. They want to control their own money, and they have enough of an ego to think that people will just follow them if they go.”

Jimmy Song further questioned why influencers like Daniel Krawisz and Kevin Pham have gone to the BSV camp. He believes that they, “might be getting paid-off,” however he states that he has no evidence to prove the same.

The Bitcoin developer concluded:

“Bitcoin SV is a scam, it is not Satoshi’s Vision, it should just be Scam Violence… it’s just a ridiculous coin, that is why I’m opposed to it. I hope I’ve made myself clear.”

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