On May 14, Bitcoin.com CEO Roger Ver met Digifinex co-founder Kiana Shek for an Ask Me Anything (AMA) session on the cryptocurrency ecosystem. Ver explained what he thinks of central banks printing unlimited money, government-induced blockages and his views on certain cryptocurrencies like BTC, BCH, XRP, ETH, and further.
Bitcoin.com CEO Roger Ver discusses the crypto ecosystem on Digifinex Live
- Thursday, Digifinex co-founder Kiana shek During an AMA at 8am ET, I asked Ver about the economic crisis and the massive amounts if central stimulus banks have been created in the past two months.
Roger Ver, CEO of Bitcoin.com: The pandemic is a real disease and a real problem. But the reaction so far seems much worse than the disease itself. You see governments around the world making these economic recovery plans. If printing money and just giving something to everyone will no longer make people work, why haven't we done it in the past 100 years?
The fact is that we need production, printing money and giving people lots of checks doesn't matter. This is not real economic progress. In fact, there must be people who start businesses and build goods and provide the goods that people really need in their lives. It won't be long before she realizes that if she pays everyone to stay home and not work, we will start to run out of what people need. So, in any case, the exact opposite must be done. We need people to go back to work and start producing what the world needs.
- The co-founder of Digifinex then asked Ver about his position to support Bitcoin Cash and why his position had changed.
Roger See: To be clear, I haven't changed anything and I have been promoting the same thing for almost ten years and it is peer-to-peer electronic money for everyone. And unfortunately, what everyone calls bitcoin (BTC) today, this project has been hijacked. Their goal is no longer to be effective peer-to-peer for the world, that is the title of the white paper. In fact, it was hijacked so badly that the people running Bitcoin.org were discussing how to get rid of the white paper entirely because it confused people. People reading the Bitcoin white paper
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I'm a fan of everything that works and puts people in charge of their own money. So they can send and receive money with anyone, anywhere, anytime without anyone's permission.
I think the cryptocurrency that has the best chance of doing it, for most people, is bitcoin cash. So from my point of view, I haven't changed anything, the original Bitcoin project is now called Bitcoin Cash. What everyone calls bitcoin in the media today, has no white paper, does not have the same roadmap. They managed to hijack the bitcoin brand, the recognition and the network effect and all the infrastructure built at the beginning by people like me. If you look before this split happened, almost all of the companies that supported the people who were actually using bitcoin for money have agreed that bitcoin can evolve so that it can be real. 39; money for everyone. We had companies like Coinbase, Blockchain.com, Bitpay, etc. The problem became so large that even Bitcoin.com could no longer support the thing called bitcoin.
The short answer is that I haven't changed anything and what people call bitcoin today has changed.
Peer-to-peer electronic money for all
- Kiana Shek then asked Ver what she thought of a target price for BCH in the future.
Roger See: If you look at it, Bitcoin Cash is trying to be money for everyone. In order for people to use it worldwide, and even if it is a bit of a success, the spot price of bitcoin could increase by 1000 times where it is today. 230 dollars per piece could easily reach 230,000 dollars. BTC it will never increase 1,000 times more than today. It's already $ 10,000, it's not going to go 1,000 times, it just won't happen. Because he is not trying to be money for the world, and if he continued on the path of trying to be it 39; money for the world, then he could have.
In order for someone to use something, it has to be useful, and bitcoin with its slow transaction times, high network fees and unreliable payments is not a useful thing. The reason it continues to rise at the moment is that it has the brand name Bitcoin and its recognition. And everyone sees that the price is almost $ 10,000 and if they try to use it for something other than speculation, they will have a bad user experience.
There are many other cryptocurrencies that provide a much better user experience.
- Kiana Shek also asked about some of the infrastructure that Ver was excited about.
Roger See: There are actually more physical stores accept bitcoin money than those who accept bitcoin right now. We have this fantastic tool called Bitcoin cash register application
that anyone can download to an iPhone or Android device and anyone can accept BCH in your business in about 30 seconds. You don't have to give your name, you don't have to give an email address, you don't have to give a tax identification number, it works and works in all countries of the world. It was something that was previously possible with bitcoin, but not with the high fees and network congestion. So if you haven't seen the Bitcoin cash register application again, look at that.
We see a lot of activity in China with our peer-to-peer market Local.Bitcoin.com where people can buy or sell bitcoins in cash using any payment method in any country. We see a significant number of Chinese buying and selling bitcoins in cash using the platform with a non-depositary custody system. Another thing that is not possible using Bitcoin (BTC) today, so it's really cool to see all the innovation going on inside the BCH ecosystem. AND let's also throw and in fact, if we have time, we can even make a Kiana Shek token this morning. It would take about 30 seconds. You can put your face as the token image and you can send and receive these tokens with anyone in the world.
- The co-founder of Digifinex told Ver that he would soon be welcome to Asia to discuss his opinions again.
Roger See: I would love to return to Asia soon, but I am currently in St Kitts in the Caribbean and due to the coronavirus here, it does not allow flights inside or outside the country. So I will be here for the foreseeable future.
- Kiana Shek also asked Ver to name some of the projects he was most proud of.
Roger See: There are a lot of people who don't realize it, but I was actually the second person involved in Ripple (XRP) XRP It is one of the largest cryptocurrencies in the world. I put some start-up money to start with and it was obviously incredibly successful. Also Blockchain.com, I was the second person involved in this project and I contacted the founder and offered to help. There have been a lot of different things with which I was basically one of the first people to get involved. These are probably two of the best known; Blockchain.com and Ripple. And of course, Bitcoin.com was also a big hit. We have seen over 11 million portfolios created on this platform now and users can distribute money among peers around the world.
- Kiana Shek asked what types of future projects she hoped to see See also developed.
Roger See: I think you have to look at the projects which are useful and if this is not the case, nobody will want to use it. Something I like is going to be different from something that others like, so we have to see what everyone wants to wear. An example of this is the Tik Tok app. I have no interest in Tik Tok, but other people love Tik Tok. Tik Tok is therefore a great success because of this, even if personally I have no interest in Tik Tok.
The same goes for cryptocurrency apps, like Crypto Kitties. I had no interest in Crypto Kitties, but other people liked this kind of thing. I think people will love to create their own token, with their own image and they can exchange tokens. And it's so easy to do by Mint.Bitcoin.com.
Those interested in seeing the rest of the interview can join the Digifinex AMA Chat Room on Telegram and a full version of the video will be released soon, according to Digifinex. For the rest of the conversation, Ver talks about being a smart investor, his thoughts on USDT and stablecoins, as well as SLP-based tokenization.
What do you think about AMA with Bitcoin.com CEO Roger Ver? Let us know in the comments below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Digifinex
Disclaimer: This article is for informational purposes only. This is not a direct offer or a request for a buy or sell offer, nor is it a recommendation or approval of a product, service, or business. Bitcoin.com
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