Roger Ver: Bitcoin Cash — this is a second chance for investors
The journalist of the network edition CryptoGlobe John Medley talked with billionaire Roger Ver, “bitcoin Jesus”, one of the first investors in the cryptocurrency, the Blockchain conference World Forum. Ver told about how he discovered bitcoin, and why subsequently switched to Cash Bitcoin, how it plans to develop the BCH and Bitcoin.com and about when (and why) Bitcoin Cash will cost more than bitcoin.
CryptoGlobe: How did you get into bitcoin?
Roger Ver: I First heard about it in a radio broadcast called “Freedom of speech live”. This is a program of the American libertarians. Bitcoin was mentioned there in the context of the Silk Road. I was not interested in drugs, but thought, “What the hell? What kind of money they use to drug sales on the Internet?”
I did a search for bitcoin on Google. Acquainted with this cryptocurrency, I realized that this is a revolutionary phenomenon that will change everything. Suddenly there was money that no one is able to control. Anyone can obtain and send. Bitcoin is not controlled by any Bank or government. Thus, it is a game changer for the world. It really happened.
CryptoGlobe: do you think that attracts to bitcoin average user?
Roger Ver: I think that the first users were in the mass, libertarians, opponents of the current system where the authorities manipulate the money supply and control monetary flows, dictating to citizens how to dispose of the funds.
But lately it’s more of the convenience factor: people find it more convenient to use the cryptocurrency than Western Union or banks. For example, in Britain you can save money when shopping on Amazon, paying in bitcoins using Purse.io. So now, many people who are far from libertarian ideas, turn to bitcoin, finding it more convenient than other available models.
CryptoGlobe: do you Think that bitcoin or Bitcoin Cash continues to provide value to new investors? Are you ready to predict the prices of these currencies?
Roger Ver: I think that from the point of view of the investor Bitcoin Cash — this is a second chance, because now the price ratio between BTC and BCH is 11:1. Even if you experience greater reverence bitcoin (because it’s called “bitcoin” and everyone thinks that bitcoin, although its actual characteristics as money is now not the ones that made it popular at the start), you have to understand that its growth momentum will not be 11 times more than Bitcoin Cash rather two or three, maybe four times.
Therefore, from the investor’s point of view there is every reason to buy Bitcoin Cash. Personally, I do. I own a large number of tokens Bitcoin Cash because they believe that this cryptocurrency will win the most popular; therefore, it will have the largest market capitalization and the highest price. When the price of Bitcoin will exceed the Cash price of bitcoin? This will happen once people realize that Bitcoin Cash is more useful than bitcoin. I can assume that it will happen in two, three or four years.
CryptoGlobe: What, in your opinion, the main function of bitcoin and Bitcoin Cash? It is a store of value or medium of exchange?
Roger Ver: It is the ability to be a medium of exchange creates a store of value. If something cannot be used as a medium of exchange, no one can use it as a store of value. It happens all over the world: something you can use as a store of value only because it has an additional usage scenarios.
Accordingly, gold is used for store of value because it is used in electronics, dentistry, and also plays the role of money. Can be used as a store of value, such as a house, but it has an additional usage scenario: it is possible to live, isn’t it? The walls and roof to protect from the weather. If the property could not perform no other function besides saving cost, it would not be such a tool. Therefore, contrasting bitcoin Bitcoin Cash as a store of value medium of exchange, you are actually talking about two sides of the same coin. Side a medium of exchange (that is, the additional usage scenario) primary in relation to the role of currency as a store of value.
In the case of Bitcoin Cash is a medium of exchange is an additional usage scenario. If it was not, then the currency can not be used as a means of store of value.
Supporters of bitcoin quite successfully downplaying its usefulness as a medium of exchange. If they finally succeed, at the same time would negate its function of a store of value.
CryptoGlobe: And you know what Bitcoin Gold again came under attack 51%?
Roger Ver: What, again?
CryptoGlobe: Yes, again! It is obvious that Hasrat Bitcoin Gold is much lower than Bitcoin Cash. Yes, and the hashing algorithm is different. But don’t you find it alarming that of bitcoin Bitcoin and Cash one and the same algorithm, and Hasrat Bitcoin Cash is one-tenth Hasrat bitcoin? If you want to change this situation?
Roger Ver:’ No, I don’t think we need to change the hash algorithm, but you certainly know more Hasrat has an advantage over hasraton smaller. I think that in the future Hasrat Bitcoin Cash will overtake bitcoin. Of course, I would like that to happen now, not next year.
CryptoGlobe: Bitmain has Recently attracted media attention to the preparation for the IPO. In this regard, the public domain was the fact that the company owns a million tokens Bitcoin Cash. This is a solid asset.
Roger Ver: Yeah, this is serious!
CryptoGlobe: This can be interpreted in many ways. In particular, it is possible to calculate that the company was “whale” and could reduce the price of the cryptocurrency, if they become public and will be forced to sell the tokens. Or is it rather a cause for optimism, because Bitmain fixes the stock?
Roger Ver:’ It is a reason for extreme optimism. We are talking about the most successful companies in the entire cryptocurrency ecosystem. The fact that she opted for Cash Bitcoin, great. It is no need to sell tokens during the IPO. On the contrary, it will earn more and will be able to buy Bitcoin Cash. Therefore, for Bitcoin Cash is a reason for unbridled optimism!
It should be noted that the head of the first Bitmain bitcoin white paper translated from English to Chinese. Thanks to Jihan bitcoin became widespread in China. I, in turn, translated (with some help) white paper of bitcoin in Japanese and has brought bitcoin in Japan. Thus, Jihan brought the light of bitcoin in China, and your humble servant in Japan and to a considerable extent in other parts of the world. We both believe that Bitcoin Cash — the version of bitcoin that will change the world for the better, therefore we sacrifice time, energy and resources to promoting Bitcoin Cash. This digital currency has the potential to improve the quality of life for all inhabitants of the planet. The function of digital stores of value are secondary.
CryptoGlobe: Bitcoin.com is one of the leading news websites of cryptosphere, having an impact on new investors. We know that in the past there was a conflict when Bitcoin.com has become the Cash of Bitcoin wallets as wallets of bitcoin, which people lost money. In addition, the website began to call bitcoin Bitcoin Core. Don’t you think that the site needs to explain to new people the difference between Cash and Bitcoin a bitcoin?
Roger Ver:’ of Course we want as clear as possible way to represent differences between Cash and Bitcoin by bitcoin. A couple of times, really, were admitted careless wording. The public needs to understand that now the state of the site employs approximately 100 people. I do not do editing of all published materials on a daily basis. A couple of times was true that someone called Bitcoin Cash just “bitcoin”, a bitcoin was called the Bitcoin Core. As soon as I found out, we corrected the situation. Yes, we are responsible for the adequate flow of information, and it is the purpose of our work from day to day.
CryptoGlobe: What are the next steps Bitcoin.com and personally your as a player in this industry?
Roger Ver: of Course, we have some ideas. First, we intend to integrate the option to make the analysis of the blockchain to track transactions, user wallets Bitcoin.com. This will increase the degree of privacy Bitcoin transactions are Cash.
Another important innovation — the creation of a model in which it will be possible to use tokens Bitcoin Cash in almost all major retail stores in the US (Walgreens, Walmart, Safeway, Home Depot) to get a discount of 1%. The service will be available only to users wallets Bitcoin.com and means of payment will be Cash Bitcoin, not Bitcoin Core.
CryptoGlobe: When this system will work?
Roger Ver: I Hope in the course of the year. At least this is the task we have set for ourselves.