On Nov. 30, back in 2011, Roger Ver made a public bet where he told everyone via youtube, that the cryptocurrency, bitcoin will surpass and outperform gold, and other commodities like silver as well as the dollar by at least 100 times in a couple of years.
So, here we are six years later and it seems that the returns from bitcoin has, indeed surpassed that of the dollar, gold and silver. Holders everywhere since that time are rejoicing.
During the time that he made the bet, bitcoin was only heard of, or, paid attention to by a small community of people. He was sort of an evangelist and strong believer, known in various circles as bitcoin Jesus, he had full faith in bitcoin. But here we are a few short years later and he’s pushing another currency and seems to have different opinions.
He’s making another bet to the world and he’s now betting on bitcoin cash and it’s growth over bitcoin.
He has now switched sides and is pushing the alt coin Bitcoin Cash, which many are referring to as Bitcoin Cash while advising companies like NAGA Group and others who are seeking to launch ICO’s and get into the cryptocurrency space. He’s looking for these new players in the market to adopt Bitcoin Cash so he can grow the relevance of that cryptocurrency.
So, what is Bitcoin Cash?
Bitcoin Cash calls itself the best money in the world, touting its benefits like bringing sound money to the world and fulfilling the promise of the original bitcoin.
Roger believes that the money should be accepted as long as it is considered good money.
Being able to provide the users of electronic currencies with low fees and reliable confirmations are supposed to be some of the key differentiators.
Roger thinks did state some interesting points like “in the long term the best currency that provides the best value will win” and this is true. At the current moment, new investors are jumping into the market with a potential fear of missing out and want to make sure they realize some gains. “The one that’s used the most will have the largest market cap, the most liquidity, and the biggest user base.”
He believes that bitcoin cash will rise in price and is betting that bitcoin cash will not be short lived.
On why Bitcoin is a cripple & community pushback
He is pointing to the different lack of scaling and other issues that people in the community are aware of. People are not so happy with the way that he is carrying out his campaign as he has expressed resentment for calling the bitcoin cash bcash and has responded childishly by calling bitcoin a cripple coin.
Yet he is receiving push back from the community, there have been responses from the community, saying things like :
“Roger you can’t complain and lose your temper over people calling BCH by the wrong name and then call BTC ‘cripple coin’. You’re just asking for it if you continue like that. BTC’s limitations speak for themselves, there’s no need for childish rhetoric.”
Many are not a fan of splits and negativity and growing community is not good either and so the pushback is deserved and was expected.