Jimmy Song: Why Bitcoin SV is a Scam

Jimmy song the noted Bitcoin developer and a known social media personality in the crypto space has come down heavily on the Bitcoin Cash forked Bitcoin SV network backed by Craig Wright.

Mr. Song has been critical of the BSV network right from the time when Craig Wright announced his stake for the Hard-fork of the main bitcoin cash network. In a recent interaction with his followers, the developer reasoned why he believes that the forked BSV is nothing more than a scam waiting to be busted.

However, the noted Bitcoin developer was not a big fan of the main BCH fork from the Bitcoin network either, and recently during the blockchain cruise, he went one on one with BCH head Roger Ver, where he explained his viewpoint and why he was against the creation of BCH network.

In his, argument Song said that he believed BCH was just another fiat on the blockchain and the level of centralization in the BCh network was against the core principle of the blockchain. The currency propagated a totally opposite viewpoint against the satoshi vision of a decentralized cashless economy.

Jimmy Song Reasons Why BSV is a Scam

In one of his live stream interaction with his followers, Jimmy song listed three major reasons on why he thinks that the Bitcoin SV network is a fraud.

Reason 1: Craig Wright is a serial fabricator and Scammer

The first reason was not at all out of the blue or something that the community is not aware of. Song says that the man behind the BSV network is known scammer and does not hold the credibility to be looked up to. The man is a serial fabricator and sick for attention. The whole world knows how hard he has tried to project himself as the anonymous creator and has failed on countless occasions.

Jimmy says,

“He (Craig) is a known scammer; he has never produced a signature as Satoshi … He hasn’t coded anything; he says ridiculous stuff. He uses only social signaling, he doesn’t provide any proof of anything, and the guy has been a con artist for a very long time. That by itself should make you very hesitant about Bitcoin SV.”

Reason 2: All Talk No Development

If you remember the time leading up to the hard-fork of the main BCH network, things got quite heated up between the two parties staking their claims on the forked network. After the fork, while BCH did some forgettable things like manipulating the hash input, but as the time progressed, they were back on track and focused on the main task of making the network scalable and provide ease of usability.

On the contrary, it seems BSV network main aim was to disrupt the progress of the BCH network, as there hasn’t been any development work going around the network. Song suggests that he is not all surprised because the promoter of the network has been all talk and a known con artist.

Song elaborates,

“If you look at their GitHub, They’ve done nothing in the past two months … They are not really trying to fix anything … They apparently have some sort of private development … 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”

Reason 3: Craig Wright and Calvin Ayre’s  behavior Is “Peculiar”

Jimmy says that looking at the progress of two parties the BCH forked network and BSV, it seems that the two heads of the BSV project Craig Wright and Calvin Ayre have taken a course of projects which minimizes the credibility of the project.

Jimmy believes that looking at their behavior they never intended to make the project legitimate and usable, and only wanted to cash upon the buzz around the project. However, Song clarifies that he has no conclusive evidence to prove his claims. Jimmy explains,

“They wanted control basically, and they were threatening … I mean, it’s a completely crap vest with Bitcoin ABC, but the fact that they continued to fight and used their money trying to try to pop up this useless coin … it should tell you .. they wanted to control their own money and they had enough of own ego to think that people just follow them”