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50 Percent of Bitcoin SV (BSV) Is Never Moved. Price Collapse Incoming?

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  • Alex Dovbnya
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    British entrepreneur and investor Alistair Milne sheds light on the lack of demand for Bitcoin SV (BSV)

50 Percent of Bitcoin SV (BSV) Is Never Moved. Price Collapse Incoming?
Cover image via u.today

Alistair Milne, the CIO of Atlanta Digital Currency Fund, has rubbed some salt into the wounds of Bitcoin SV (BSV) investors right on the so-called "Bitcoin Independence Day," which marks one year since the controversial fork stormed into the crypto space.     

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The internet entrepreneur who later ventured into crypto claims that around 50 percent of all mined BSV has never been moved, which signifies the lack of demand for the infamous Bitcoin offspring. 

According to Milne, miners are currently in a serious predicament since them selling their dragon coins would inevitably tank the BSV price. At press time, BSV is changing hands at $126.81, occupying ninth place by market cap.


Bitcoin SV has a flair for crazy price moves. After bleeding throughout the whole delisting debacle, BSV suddenly pumped by 90 percent on May 21 on the news that self-proclaimed Satoshi Craig Wright was recognized as the author of the Bitcoin white paper by the U.S. Copyright Office (which, of course, turned out to be a massive nothingburger). 

On May 30, BSV surged by nearly 100 percent once again due to fake news that spread like wildfire in China. 

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After such "organic" growth, Bitcoin SV remains a tickling bomb that might blow in the face of its investors any minute. 

However, the coin does have a use case. Back in June, it turned out that a single weather app is responsible for 98 percent of all BSV transactions.      

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ripple Once Again Tries to Toss Class-Action Lawsuit, Insists XRP Is Not a Security

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    Ripple makes a final push to dismiss the damning class-action lawsuit ahead of a court hearing that is scheduled for January 2020

Ripple Once Again Tries to Toss Class-Action Lawsuit, Insists XRP Is Not a Security
Cover image via 123rf.com

Ripple has once once again asked a federal court to dismiss the pending class-action lawsuit over selling illegal securities, a new court filing shows.

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The company reiterates the same "statue of repose" argument, which means that the plaintiffs failed to meet a legal deadline for filing the suit. Ripple started selling XRP to retail investors back in 2013, which means that it was way too late to bring legal actions against it back in summer 2018 after a bar to a lawsuit was imposed in 2016.    

The blockchain behemoth also continues to insist that XRP is not a security, but it called this issue "irrelevant" to their latest motion, which is why it didn't address this point in-depth. It's not the first time that Ripple tries to dodge the big question that is the cornerstone of the long-lasting legal battle. 

"XRP is not a security, but that is irrelevant for purposes of this motion. Even if XRP were a security, Plaintiff's claims still fail as a matter of law,” the filing said.   

Ripple's previous attempt to throw the suit out of the court didn't bode well. As reported by U.Today, Bradley Sostack, the leading plaintiff in the ongoing case, believes that the defendants are still liable for selling illegal securities. The parties are expected to duke it out in court in January 2020.  

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XRP's status as a security remains a point of contention within the cryptocurrency industry. Crypto influencer BitLord recently slammed Ripple for dumping their native tokens on investors to acquire businesses.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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