Famous cryptocurrency exchange poloniex is allowing the users to trade the upcoming bitcoin cash hard forks Bitcoin Cash ABC and Bitcoin Cash SV.
The move by poloniex is being criticized by a lot of cryptocurrency enthusiasts including Craig Wright who proclaims to be Satoshi Nakamoto, the founder of Bitcoin. According to Craig, allowing traders to trade these coins is surely a criminal offense.
Craig Wright tweeted yesterday:
@Poloniex
You do understand that allowing naked shorts and trades is a criminal offence in the US….When you lose, we will be there with the lawyers and pick the carcass dry.
— Dr Craig S Wright (@ProfFaustus) November 10, 2018
The BCHSV (Bitcoin Cash SV) is trading around $69 and BCHABC (Bitcoin Cash ABC) around $470. A data survey by Coin.Dance shows that around 70% of cryptocurrency businesses support the BCHABC roadmap and around 35% support the BCHSV roadmap.
The SEC (US Securities and Exchange Commission) banned Naked Short selling in 2008, and people are criticizing Poloniex Exchange for letting the users trade a cryptocurrency that does not exist yet.
Craig Wright also said that Poloniex Exchange could go broke if Bitcoin Cash didn’t really have a hardfork and also expressed that he would love to see Poloniex burn in such a case.
The users can currently trade Bitcoin Cash SV and Bitcoin Cash ABC with USDC and Bitcoin on the Poloniex Exchange.
Soon after the above expressions by Craig, the BCHSV and the BCHABC market experienced a downfall.
The list of mining companies that support Bitcoin ABC is Bitmain, Bitcoin.com, ViaBTC, BTC.top etc. while the companies that support Bitcoin SV are Coingeek, NChain, SBI, and GMO.
What do you think about poloniex allowing its users to trade a coin that does not exist yet? Tell us in the comments section below.
