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Roger Ver: Bitcoin Cash (BCH) Is “The Best From An Investment Standpoint”

For the better part of a decade, Bitcoin (BTC) has sat at the forefront of the cryptocurrency industry, continually proving itself that it is a reliable project to invest your time and money in. But for proponents of Bitcoin Cash, the crypto that spawned out of August 2017’s hard fork of the Bitcoin chain, BCH reigns supreme.

It goes without saying that Roger Ver, dubbed “Bitcoin Jesus” by some, has quickly become the controversial poster child of Bitcoin Cash. Ver recently spoke with the hosts of CNBC’s “Fast Money” show to discuss his opinions on the cryptocurrency market, specifically regarding Bitcoin Cash (BCH).

Commencing his time on the segment, he first pointed out the fact that Bitcoin had become unusable as a form of digital cash. Elaborating on this ideology, he stated:

BTC, Bitcoin, is no longer, or at least last December, wasn’t usable as commerce as all. The fees became high, the transactions became slow and unreliable, and people like myself and everybody else that was trying to use it for commerce stopped at switched to something else.

Seemingly expressing his positive sentiment regarding Bitcoin Cash, he added that this “something else” could be BCH for “the most number of people.” However, as critics constantly point out, Bitcoin Cash (BCH) has underperformed Bitcoin greatly this year, with the relative value of the fork falling by over 50% from 0.1834 BTC to 0.08 BTC as it stands today.

Regardless, “Bitcoin Jesus” went on to note that Bitcoin Cash’s dismal performance should not be a cause for concern for BCH diehards. Referencing his over six years of experience in the ever so volatile cryptosphere, the outspoken BCH advocate noted that he first invested in Bitcoin at approximately $1, and saw his investment grow 30-fold in 2011’s ‘bubble’. Following this astronomical run, Bitcoin fell by over 90% back to ~$2, which turned his 30x gain into ‘just’ 2x.

Likening investment to the good ole game of hockey, Ver pointed out that players, or in this case investors or traders, should head to where the puck is going to be rather than where it is currently. Explaining why BCH is where the ‘puck’ (money) is heading, Ver noted that “all the adoption, merchants, and business are being built on top of Bitcoin Cash at this point, so in the future, I think BCH is the best from an investment standpoint.”

Ver May Be A BCH Proponent, But He Says To “Diversify, Diversify, Diversify”

Aiming to stay relatively unbias, the foremost BCH proponent added that investors should never keep all their eggs in one basket, in cryptocurrencies or in publicly-traded vehicles alike. CNBC Host Mellisa Lee, seeming intrigued by this statement, went on to question Ver about his overall cryptocurrency portfolio. Staying true to what he preached about diversification, he noted:

I hold more Bitcoin Cash then anything else, but I have some Ether, some ZCash, some ZCoin, Dash, Monero and I still hold BTC as well. So a little bit of everything is a good idea, including a bit of Ripple (XRP) and Stellar (XLM). Diversify, diversify, diversify is the name of the game.

Later reverting to his BCH-centric mindset, Ver added that he began to diversify his 99% BTC portfolio around two to three years back when he saw the “writing on the wall” that Bitcoin developers had “an insane idea” to leave blocks small.

Photo by David Shares on Unsplash
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Bity Accuses Bitcoin.com of Using Dirty Tactics to Force Exchanges to List BCH

Swiss exchange Bity.com posted an announcement commenting that they would soon be delisted from Bitcoin.com. The reasons sparked an intense debate within the community.

According to the details published by Bity in a Reddit post, Bitcoin.com allegedly sent them an email in which they were basically forced to list Bitcoin Cash (BCH) if they wanted to stay listed on their website as an exchange where people could buy Bitcoin.

Should they not comply with the requirements of the Bitcoin.com team, they were told that they would take the unilateral decision to delist them from their database:

“I am writing to let you know we have noted at this time your exchange currently does not offer Bitcoin Cash (BCH) and only offers customers the option to buy Bitcoin Core (BTC). We are making a change on our exchange listing requirements that all listed exchanges must offer Bitcoin Cash (BCH) in order to remain listed on our website. We wanted to reach out to you and let you know this so that you can start to offer Bitcoin Cash (BCH) to your customers.
For exchanges that we currently list who do not meet this requirement, they will be removed from the exchange listings page and won’t be offered as an option moving forward unless this requirement is met. If we don’t see any changes that reflect the addition of Bitcoin Cash (BCH) on your exchange within the next 30 days, then your listing will be removed from Bitcoin.com.”

According to Bity, the original email sent by Bitcoin.com emphasized that failure to comply with their unilateral demands could be detrimental to their business given the high traffic that the site owned by the man previously known as “Bitcoin Jesus” receives on a daily basis:

“Please note that Bitcoin.com is one of the top most viewed websites in the cryptocurrency space with millions of views per month. You can see some of our statistics here: Bitcoin.com/advertise.”

Within Reddit’s post, the reactions were adverse. Several users criticized Bitcoin.com’s tactics as dishonest.

However, several users of the Bitcoin Cash community supported the decision, mentioning that Bity should include Bitcoin Cash in its database, thus justifying Bitcoin.com’s policies.

This has not been the first time that the crypto community has generally rejected the tactics of the team led by Mr. Roger Ver. Actions such as trying to get people to see Bitcoin Cash (BCH) as Bitcoin (BTC) or saying in a public debate that babies are dying because of Bitcoin (BTC) have made Roger See a controversial character within the crypto sphere.

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Bity Fights Back

In the same Reddit post, Bitty’s team mentioned that they were not interested at the moment in listing BCH regardless of Bitcoin.com’s requirements.

According to the exchange ‘There are no cases of businesses being built around the direct use of BCH, unlike with Ethereum (ETH) or Bitcoin (BTC)”.

“We are a Swiss cryptocurrency services provider in addition to providing brokerage services. In Switzerland, there is currently no economy that we are aware of which uses BCH. There are no cases of businesses being built around the direct use of BCH, unlike with Ethereum (ETH) or Bitcoin (BTC). There are also no salaries being paid in BCH, or companies being created to service the BCH community.
Bity, as a regulated financial intermediary, currently focuses on cryptocurrencies with an actual or potential strong economy behind them. We have not seen any real use cases in Switzerland or with our user base of BCH that shows potential to be integrated in the future financial system.”

They also commented that they were neither pro-bitcoin nor pro-bitcoin cash. Their business philosophy is geared towards meeting the specific demands of the Swiss market, which is why BCH is an unattractive altcoin; therefore they don’t mind being listed -or delisted- on this website:

“We acknowledge Bitcoin.com’s new exchange listing requirements, and we accept that Bity.com will be removed from this list as we will not be offering BCH in the near future.
We would also like to share that we are crypto agnostic and we understand that things can change in the future. If we see a change in market behavior towards BCH, then we would reconsider offering it on our platform.”

At this time it is not known if any exchange has decided to add Bitcoin Cash due to similar strategies applied by the Bitcoin.com team. Given that emails are private, this question will remain unanswered.

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