Roger Ver is regarded as an early adopter, he was part of the Bitcoin network right from the start. BTC-ECHO met him personally on the Blockchain Cruise for an interview. The Bitcoin Cash advocate about Bitcoin, the Lightning Network, Bitcoin Cash, ETF, individual freedom and the scaling debate.
Bobby Lee confirmed in his keynote speech that he believes Bitcoin Cash is closer to Satoshi’s original vision of Bitcoin. You’ve been trying to bring this closer to the community for a year now. Why don’t you explain your reasons to our readers?
This is also a Bitcoin loophole for institutional investors
From my point of view, it’s not only the version [Bitcoin Cash] that is closer to the Bitcoin loophole, but it’s also the version of Bitcoin that has made it so popular. And if you change the economic reasons that led to the success of Bitcoin loophole, I don’t think that will contribute to this version of Bitcoin having a similar success in the future.
In my presentation, I compared the key features that made up Bitcoin at the time with today’s versions of BTC and Bitcoin Cash. BTC now has none of these features, whereas Bitcoin Cash has all of them. If I had advertised Bitcoin in 2011 with the slogan “slow transactions”, nobody would have been interested in Bitcoin. With Bitcoin Cash I can now advertise the same thing I advertised with Bitcoin in 2011.
100 BTC is not enough for the news spy
The scaling debate is controversial. Some believe in the news spy solutions like the Lightning Network instead of working on the base layer as you recommend. Do you think there will be a possibility in the future that both solutions can coexist independently?
The Bitcoin cash community believes in the news spy both basic layer and second layer technologies. The BTC community, on the other hand, only believes in the second-layer solution. At the moment, Layer One solutions exist. Layer two solutions will hopefully also exist in the future, but not yet at the moment. The Lightning Network does not yet work in real trading. In total, only 100 Bitcoin circulate in the Lightning Network. That’s not enough for people to pay with it.
You are known for your critical attitude towards the role of the state in the economy and promote crypto currencies as a means to reduce state control. Are you still convinced that crypto currencies have the power to enable individual freedom?
Of course. For this reason I am involved in the further development of the community on a daily basis. Crypto currencies give individuals the power to control their own money. This gives the individual more economic freedom and leads to a freer world.
“We should focus more on adaptation.”
At the moment, the debate about a Bitcoin ETF also keeps coming up again and again. The SEC has put a stop to this for now. Would you like to see a Bitcoin Cash ETF one day?
I think if more and more people use Bitcoin cash or other crypto currencies as a means of payment, the SEC will have no option but to allow a Bitcoin ETF. But it is the use as a means of payment that motivates people to invest in an ETF. So we should focus more on the adaptation of crypto currencies, the ETF will then come by itself as a result of the adaptation.
Everything depends on the use case
But it all depends on the use case behind it. However, everything depends on the underlying use case. Crypto currencies must be useful so that people can use them. Bitcoin Cash is a very useful means of payment, whereas BTC no longer has the useful features that it once had.
So don’t you think Bitcoin can optimize its functionality, especially scaling, to be closer to the original version again?
Oh, I hope so. But I honestly don’t believe in it. As long as the people behind it say they don’t want it and pop champagne corks when transaction fees go up to $50 per transaction. These people are still behind the protocols and will certainly not help return BTC to its old usefulness.