Roger Ver Mentions the Variant of Bitcoin That Will be Most Popular

News / 23.02.2020

Despite Bitcoin having a variety of use cases, people have different notions about its ultimate objective. According to many people, the cryptocurrency is an investment tool due to its outstanding performance in the last decade. Nonetheless, some individuals think that such a value proposition diminishes the aim of creating cryptocurrencies.

Bitcoin Cash (BCH) emerged due to such a philosophical discrepancy between conflicting camps in Bitcoin’s userbase. Recently, during an interview, Roger Ver, CEO of Bitcoin.com explained why he thinks BTC is better aligned with Nakamoto’s vision than other Bitcoins.

Ver, a great advocate of BCH, explained why he believes cryptocurrencies should offer an alternate payment system, while not being another investment tool. According to him, we should utilize cryptocurrency as money such that we can prevent authorities doing their best towards controlling, spying and monitoring everyone; we should utilize them for buying and selling.

Ver noted the demerits of Bitcoin maximalism. He noted that cryptocurrencies should be utilitarian and there is a need to encourage people to utilize currencies that suit them towards the growth of adoption. The major objective is to come up with tools that will offer us total control over our money without seeking permission from politicians or banks.

He discussed privacy during the interview. Regarding the privacy levels required for cryptocurrency transactions, he maintained that the right wording to use for laws on cryptocurrencies should be adopted from the U.S. Second Amendment:

“The right of the people to keep and bear cryptocurrencies shall not be infringed and just leave it at that and let people do what they want with their own crypto.”

According to his notion, Bitcoin, Bitcoin Cash, and Bitcoin SV are three varying perspectives. That is, BTC as a store of value, BCH as a payment system, and BSV as a coin. When it comes to the variant that will withstand the test of time, he argued that it is the peer-to-peer electronic cash version.

Cryptocurrencies are yet to have the kind of mainstream adoption anticipated by many people, even after ten years. Recently, a study said 7% of global population claims to own crypto. Nevertheless, the number of people among the sampled demographic that used crypto everyday as a form of currency was not revealed.

A recent J.P. Morgan report said there has been a remarkable increase in the use of card-payments within the past four years. However, people are still used to the old way of engaging with finance as they still depend highly on the centuries-old banking system.

There are benefits people can enjoy through Ver’s idealistic vision for BCH, especially people who are not really exposed to traditional finance. Many investors were attracted to Bitcoin after its last bull-run and it is now securing its position as an investment tool. BCH is encountering more competition since it could be in competition with the next big thing across the payments sector.

Featured image courtesy of Wallpaper Abyss. Source: Cryptopress.

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Born in Bucharest, Marius is the founder of Crypto Adventure. Since his first contact with Bitcoin and cryptocurrencies, he never stopped believing that they are one of the most important innovations of our time, which will forever change the way business is done.