Bitcoin SV had called out this fiasco as “market manipulation,” wherein other networks wanted to discredit the BSV network by alleging that these incidents do not happen on their services and are isolated to Bitcoin SV.
Major proponents like Craig Wright and Jimmy Nguyen even hit back at several media houses suggesting that since BSV is an open-ledger, certain nefarious materials may end up on their services. The same is true for the internet, Bitcoin [BTC] and Ethereum [ETH], and to single out Bitcoin SV was incorrect, they further suggested.
In terms of the illegal image question, Bitcoin SV is certainly regretting the incident but claims the same has happened with internet giants like Facebook, Twitter, and Google, and that these are ongoing issues.
The unfortunate image was first uploaded via a transaction through Money Button and spotted by BitcoinFiles.org, who quickly informed the authorities and got the picture removed from the servers. Now both the aforementioned BSV partners have since updated their Terms of Service to underscore that no illegal or illicit content can be written onto the server.
Jimmy Nguyen, the CEO of nChain, the biggest company-backer of the Bitcoin SV project stated that the necessary facilities are present to alert the site operators on any malicious content and that nChain will be doing everything to check the IP address source and to procure evidence which will be provided to the authorities, if necessary.
Nguyen went on to state:
“The Bitcoin SV ecosystem does not tolerate illegal activity. Unlike the anti-government culture of many other cryptocurrency communities, Bitcoin SV is the most business friendly, government friendly, and law enforcement friendly.”
Unlike its predecessor’s networks, BSV is not very privacy-centric, allowing a public record to be created which cannot be deleted. Hence, Money Button used this trail to identify the culprit and ban him from the network.
Nguyen closed with a stern warning:
“On behalf of the bComm Association and the entire BSV ecosystem, we want to send a very clear message: The Bitcoin SV blockchain is a not a place for criminal activity, and if you use it for illegal purposes, you will leave a digitally signed evidence trail that cannot be erased. This evidence is fully admissible in a court of law, and you will likely be caught and prosecuted. Think twice and be prepared for legal action before you try adding illegal content to the blockchain. We stand ready to work with global law enforcement authorities to stamp out this and any other illegal misuse of Bitcoin.”