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Roger Ver and Mate Tokay from Bitcoin.com Join a New Fintech Startup Advisory Board

Bitcoin.com’s CEO Roger Ver and COO Mate Tokay have become advisors to a fintech startup MoneyToken, as reported in MoneyToken’s announcement. The partnership between MoneyToken and Bitcoin.com may bring new benefits to the Bitcoin Cash (BCH) community, as BCH will be available as accepted collateral on the MoneyToken lending platform, says the joint press release.

According to Bitcoin.com, Roger Ver is also an advocate of Bitcoin Cash and one of the key influencers in the crypto community because of his early investments – since 2011 – in crypto-related startups including Ripple, Blockchain.info, Bitpay and Kraken. Ver’s company, MemoryDealers, became the first company in the world to accept Bitcoin as a payment option for its services.

As reported in the MoneyToken announcement, Mate Tokay has been involved in the cryptocurrency business as a miner since 2013. He co-founded Bitcoinist.net a cryptocurrency news magazine and he is now the COO at Bitcoin.com – one of the most popular source for bitcoin related news and information.  

MoneyToken is a cryptocurrency-backed lending platform that provides loans to cryptocurrency holders. The main idea is that a borrower who owns cryptos may simultaneously deposit cryptos as a long-term asset and spend it at the same time by investing in new initial coin offerings (ICOs), or by trading at exchanges.

Joining forces

“MoneyToken is a bright example of the real use of blockchain technology, as well as offering a massive boost for crypto market liquidity for all market players, and especially for businesses,” Roger Ver said at the press release on the partnership with MoneyToken.

With leading Bitcoin.com executives on the board of advisors, MoneyToken faces new opportunities. “Now Bitcoin Cash holders can enjoy the benefits that MoneyToken offers – leveraging their assets and spending cash, while continuing to hold their crypto positions”, says the announcement.

“The Bitcoin Cash community is a unique and powerful force in cryptocurrency. Adding our support to Bitcoin Cash and allowing our potential token buyers and future lenders and borrowers to operate in BCH, only adds to our portfolio and strengthens the value of MoneyToken as a product for all our users.” Commented Jerome MacGillivray, Co-Founder of MoneyToken.

Conquering fintech user’s hearts

The MoneyToken platform, aimed at miners, projects that made their token sales, traders, investors and exchanges, will allow holders of crypto assets to gain access to loan-based financial services, using cryptocurrency as collateral.

The MoneyToken business model works as following. Any user may deposit his Bitcoins, Ethers or other coins at MoneyToken and in return receive the a loan that may be spent on investments in US dollars or cryptocurrencies.

MoneyToken has launched its public token presale on May 2, 2018 with a 20 percent bonus. The crowdsale campaign will last until June 6, 2018. So far, the MoneyToken team has overpassed its softcap goal, having raised almost $10 mln. The hardcap is $41.5 mln.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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Bitcoin.com CTO Denounces Bitcoin: “I’ve Switched to Bitcoin Cash”

According to Bitcoin.com co-founder and CTO Emil Oldenburg, Bitcoin is “useless” and has no future as a tradeable currency, citing high transaction fees and long lead times. In an interview with Swedish tech site Breakit, Oldenburg said that he had sold all of his Bitcoin and switched to Bitcoin Cash, a hard fork of Bitcoin created in August 2017.

Oldenburg justifies his actions, saying:

“An investment in Bitcoin right now I would say is the most risky investment one can make. It is extremely high-risk. I’ve actually sold all of my Bitcoins recently and switched to Bitcoin Cash.”

Despite the fact that Oldenburg’s company is in fact a Bitcoin wallet, the CTO says that he has become disenchanted with Bitcoin due to its high transaction fees and slow confirmation time, saying Bitcoin’s current performance is “completely unreasonable.” Increased transaction speed and lower costs are the main features supporters of Bitcoin Cash point to when comparing the two coins.

Based on analysis, Bitcoin transaction fees have indeed increased from an average of 20 cents to about $15 over the course of 2017.

Addressing the apparent conflict of interest between his company and his personal views, Oldenburg explained that the wallet is also moving away from Bitcoin to focus on Bitcoin Cash:

“We’ve actually stopped developing new services for the old Bitcoin network now and are focusing mostly on [developing for] Bitcoin Cash. Where it costs only 10 öre [$0.12] to send [BCH] and there’s no waiting. The only backside is that it requires larger hard drives, but that’s not a problem for most people.”

Oldenburg further argued that the problems with Bitcoin transactions emerge during the recording of the transactions on the Blockchain. He claimed that the bottleneck on the Blockchain results in a highly risky and illiquid digital currency:

“There’s only a limited amount of transactions per second you can make in the Bitcoin network, which in part depends on the ‘block size’ of the memory that store the transactions on the Blockchain. This bottleneck makes for a highly risky and illiquid cryptocurrency…the old Bitcoin network is as good as unusable.”

The price of Bitcoin, however, continues to grow and has already breached the $20,000 level this week. It is currently trading at around $18,000 as of press time.

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SegWit ‘Death’ Challenge: BitPico Vows To Fork As Bitcoin.com Goes 100% Bitcoin Cash

SegWit ‘Death’ Challenge: BitPico Vows To Fork As Bitcoin.com Goes 100% Bitcoin Cash

SegWit2x may still happen, rumors suggest after its cancellation as Roger Ver’s Bitcoin.com goes full Bitcoin Cash.

While the community reacted to the ‘death’ of the hard fork, its ghosts are already haunting Bitcoin as previously unknown entity BitPico vowed to continue “regardless.”

“We are carrying out the fork regardless as everything is set in motion. Backing down the difficulty right now is a strategy,” BitPico wrote from a Microsoft iCloud address.

“Wonder why 30 percent network hash-rate disappeared? It’s ours; the miners that will continue what is set in motion… A handful of humans cannot stop what they have no control over…”

SegWit2x Final Steps

The message raised suspicions, with entrepreneur Tuur Demeester suggesting it could even be a hoax.

The broad sense of relief that SegWit2x had failed to achieve consensus meanwhile appears not to have affected everyone.

Major US exchange Coinbase subsequently announced it was “monitoring” the 2x “update” and would make a statement “in the coming days.” Users reacted with confusion, as cancellation of the fork seemingly left nothing to be discussed.

Roger Ver, appearing disappointed at the NYA signers’ decision to cancel, released a message confirming his Bitcoin.com resource would strictly deal with Bitcoin Cash only in the future.

Public Service Announcement

The so-called “public service announcement” was condemned on social media by those regretting that entry-level users accessing Bitcoin.com simply because of its well-known address had little idea they were not accessing Bitcoin, but the Bitcoin Cash fork.