Ethereum’s co-founder. Vitalik Buterin is easily one of the best-known names in the crypto space. As such, his opinion matters to a lot of people, which is why his negative stance towards Bitcoin SV continues to make headlines, particularly after he recently called the project ‘a complete scam.’
Buterin bashed BSV once again in a recent interview with YouTuber known as Hardcore Crypto. The interview also discussed DEXes, as well as Binance’s recent massive accumulation of power, something that he sees as worrying, considering the fact that the exchange is highly centralized.
Buterin vs. Bitcoin SV
The part of the interview dedicated to discussing Buterin’s thoughts on BSV did not leave much room for speculating what he thinks of the project. He was rather open about it, claiming that the project is a complete scam. However, he did admit to being surprised by the fact that Binance openly delisted it. While he does not see it as bad development, he still thinks that the exchange is wielding way too much power for a single, centralized entity.
While ganging up against BSV is seen by many as interesting, a lot of people do not realize that BSV is not really as big of a threat to the crypto industry as believed. After all, it is just a single coin, which might trick a few new investors into buying it, at best. On the other hand, Binance holds power and major influence.
This seemingly grants the exchange a pass to do anything it wants, from demanding major listing fees, to influencing which coins win or lose. They choose which trading pairs they will offer and more. In other words, delisting BSV may have been a good move to make, but the fact that Binance did it on a whim is still only a display of power from the exchange. This is also troubling as the fall of Binance could have catastrophic consequences for the crypto market.
As for BSV, Buterin has been criticizing the project almost from the moment it emerged. BSV was barely a month old, and the consequences of the hash war with BCH were just starting to slowly die down, when he started criticizing the project, calling it a ‘pure dumpster fire.’ He questioned the new block size, the roadmap, as well as plans to bring 2GB blocks in Q3 of this year.
However, Buterin’s biggest issue does not lie with the project itself, but with its leader, Craig Steven Wright. Buterin stated that each of CSW’s proposals is extremely bad and ‘insanely stupid,’ but also that the project pretty much does not have anyone else to blame or criticize. It also remains heavily vague, with no one really knowing its goal or vision.
Of course, BSV still has supporters, some of which were quite vocal in trying to defend the project.
Buterin’s issue with Binance
Finally, there is the matter of Buterin’s view of Binance. While both seem to be acting up against BSV, in their own ways, that does not seem to make them allies. Additionally, Buterin did not make peace with BSV in an attempt to partner up against the major exchange.
Buterin has as strong feelings against Binance (and other centralized exchanges) as against BSV, if not stronger. About a year ago, he openly said he hoped that centralized exchanges would ‘burn in hell.’ According to him, DEXes are the future and the right way to go. While the space is certainly moving towards DEXes more and more, Binance still has more power than any other crypto entity out there.
The exchange also made an attempt to remain relevant by launching its own DEX, meaning that it knows that the time of centralized exchanges is likely to pass sooner or later.