On November 30, in 2011, Roger Ver made a bet to the world, that Bitcoin will surpass the gold, l & # 39; money and the dollar 100 times. This November 30 is going to be the sixth anniversary of his bet, and Ver is ready to make another bet to the world – this time on Bitcoin and Bitcoin Cash.
Previously known as Bitcoin Jesus and now a vociferous promoter of Bitcoin Cash, Ver has recently advised NAGA Group, a German financial technology company financing an ICO, to accept Bitcoin Cash and D & # 39; 39; other cryptocurrences alongside Bitcoin and Ethereum.
A company should not be limited to Bitcoin, which has higher fees, said Ver. "As long as it's good, they should accept it." He said that he also spent last Friday with bankers demonstrating the various network charges of Bitcoin and Bitcoin Cash
leading up to his new bet, Ver had a Q & A with Cointelegraph. Wearing a blue shirt with a white Bitcoin badge and "Too Free to Fail" printed on, Ver joked that he will soon get his Bitcoin Cash shirt.
Cointelegraph: Where do you think Bitcoin and
Roger Ver: I think there is a good chance that the Bitcoin price exceeds $ 10,000 by the end of the year. This can very, very well happen, maybe Monday, Bitcoin Core is going to be $ 10,000. Bitcoin and Bitcoin Cash will reach new historical heights.
CT: The cryptocurrency space has attracted a large number of new traditional investors. Does the technical difference between Bitcoin and Bitcoin Cash make a difference for them?
RV: In the short term, it does not make much difference. In the long run, the most useful piece becomes the one most used. The one that is used the most will have the largest market capitalization, the greatest liquidity and the largest user base. And Bitcoin Cash is much, much more useful with Bitcoin Core.
CT: Bitcoin Cash Critics have said that its big block approach is unsustainable in the long run, what is your answer to that?
RV: Increasing block size is a viable long-term solution. If you remember your first modem, it is likely a 24-bit modem [2,400-bit/s]. And then they increased them to 14.4 K [bit/s] modem, that's the big one that was going to happen. And then modem 28.8 kilobits (per second), then 56K modem, and then you have DSL lines, which are twice the speed, then it has increased, faster and faster, network and the company that I was doing before Bitcoin was selling 100 gigabyte optical transceivers. It was about three million times faster than the modems I was selling. In 20 years they have been three times faster.
If a block of a megabyte is easy to handle today, in 20 years we will have blocks of three gigabytes just as easy to handle.
I do not think that scaling up the chain is not a practical solution. He is very clearly.
CT: What about the Lightning Network as a scale solution for Bitcoin? 19459007 19459004 19459006 The lightning network is still only a scientific project at this stage. Nobody has it in the trade, nobody has network lighting wallets, so it's a complete vaporware at this point.
Maybe it'll come together, maybe it'll be great someday, but they intentionally broke Bitcoin that worked incredibly well. grew up in this global phenomenon.
CT: You must meet cryptocurrency communities around the world. What did you notice?
RV: When you go to a meetup, the majority of people are in favor of Bitcoin Cash, on scaling up the chain. It's only on the Internet that there are many people who are not in favor of this. The vast majority of people who support Bitcoin Core do not even use Bitcoin, while everyone who actually uses Bitcoin is in favor of Bitcoin Cash or in favor of scaling up the chain.
It won & # 39; It does not take much more months until Bitcoin Cash completely outperforms Bitcoin Core in the number of user prices or market capitalization. It's not a question of if, it's just a question of when. I think it will happen next year.
CT: Jamie Dimon said that he was going to shoot any trader who would trade Bitcoin. How would you react to that?
RV: I am sure Jamie Dimon is a smart man. I think he's probably realizing that Bitcoin is going to cut into his business. It will not be specifically Bitcoin, but all cryptocurrences.
But the intelligent [bankers] will adopt it, is not it?
CT: The interest for ICOs has been boosted. What are your tips for new investors interested in ICO?
- The ICOs that I would be most interested in are those that are like titles. Whether you own an asset of a company or for this purpose. And it's the thing that the SEC should be looking after their own business. It's not their business that people would want to do with their own money on the internet or invest in risky things.
- I would also recommend reading How an Economy Grows and Why Not, by Irwin Schiff. (Schiff is famous for protesting against the federal income tax. His son, Peter, wrote how an economy is growing and why it is crushing). He was not a supporter of Bitcoin, but the book is a good introduction to the economy. If you have a better understanding of the economy, and how something becomes useful as a money, you will have an idea of how to invest in cryptocurrency.
- Do your own diligence and do your own research, do not blindly believe people on the Internet. Look at their business model. Do they move their resources where they are worth less or where they are worth more? Is there a case of use for the token?
- I do not invest much in ICOs. I am so busy being the CEO of bitcoin.com. I regret not having more time to pay attention to OICs because I think it's probably very interesting and interesting.
The responses have been modified for clarity.