Written by Neil

Almost anyone who is truly familiar with the cryptocurrency sector knows about Coinbase, arguably the most recognizable name in the space. The cryptocurrency exchange recently reached a milestone late last year of over 25 million users and enjoys a valuation in the billions. However, many users are furious at the fact that the company has still not given its customers its Bitcoin SV.

About Bitcoin SV

For those who are unfamiliar, Bitcoin SV is a fork from Bitcoin Cash. The fork occurred because of disagreements between two Bitcoin Cash camps. On one side was entrepreneur Roger Ver and Bitmain CEO Jihan Wu, supporting Bitcoin ABC (standing for Adjustable Blocksize Cap), and Bitcoin SV, supported by controversial cryptocurrency figure Craig Wright and Calvin Ayre.

Bitcoin SV was an abbreviation for “Satoshi’s Vision”, with both Wright and Ayre claiming that it was the “true Bitcoin”. In fact, many in the cryptocurrency community have criticized the two for these claims. While Ver has made similar claims; Craig Wright has received more backlash because of his claims that he was Satoshi Nakomoto, which many believe is false, and speaks to Wright’s lack of honesty.

Coinbase Controversy

Coinbase has yet to actually release Bitcon SV to anyone, to the consternation and dismay of many users. In order to receive Bitcoin SV, all user had to do (supposedly) a simple deposit into their Coinbase Bitcoin Cash wallet pre-fork. However, it appears as though users are still waiting on their Bitcoin SV, weeks later.

Several days ago, Coinbase seemed to admit that the issue would still take more weeks to resolve, responding to a frustrated user: I understand your frustration and I wish that there was more that I could do. However, we will provide additional updates as they are available. We anticipate development work for BSV withdrawals will take at least a few weeks, but may take longer.”

6 COMMENTS

  1. If Coinbase would actually provide updates, as they said they would over two months ago, users might actually understand the situation more. Instead they take the ostrich approach and users have no idea what is going on. I personally only have 10 BSV in limbo but I would like to cask them out and be on my way, never to deal with CB again.

  2. I’ve started tweeting @coinbase every day asking where my BSV is and they will not respond. I think it’s time for a class action lawsuit, they’ve already cost us profits and I believe they’re waiting until it gets down to nothing and then they will dump it on us.

  3. I am very upset with coinbase for communicating support for the fork prior to it happening, then failing to provide the customer with updates to their process to their VERY LONG PROCESS. The last official information to come out of coin base was on November 29th and stated this…

    “How much BSV will I get credited?
    The amount of BSV that you will receive will be the same amount of BCH that you held in your Coinbase account at the time of the fork.”

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