Saturday, May 30, 2020

Roger Ver Predicts Bitcoin Cash Could Overtake Ethereum

Crypto evangelist and’s CEO has always been behind Bitcoin Cash, the crypto asset formed from the hard fork from Bitcoin’s blockchain in 2017. The Bitcoin Cash supporter has now, in the manner of a prophet, predicted that the value of Bitcoin Cash would surpass that of Ethereum.

Bitcoin Cash to Gain More Adoption had an interview with the CEO which was uploaded on its official YouTube channel. In the interview, Roger made a statement saying that there was a high chance Bitcoin Cash would surpass Ethereum, the second most valuable cryptocurrency in terms of market capitalization, according to CoinMarketCap. He also predicted that in the future, Bitcoin Cash would be more utilized than Ethereum.

Roger Ver has severally criticized Bitcoin, and in the interview, he stated that Bitcoin Cash currently is better than any other cryptocurrency in terms of achieving the emancipation from fiat currency that the world needs.

On the issue of cryptocurrencies and digital currency institutions replacing traditional financial institutions and fiat currency, Roger said that he believed cryptocurrencies would get higher market shares. However, he admitted that it might not be possible to cut out fiat currency as a means of payment fully. He did say that the idea of cryptocurrency would be new to the world.

It has been assumed that about 50% of Bitcoin Cash’s nodes are being run on data centers owned by Alibaba. When Roger was asked about the issue of decentralization and data centers for Bitcoin Cash, he said that decentralization was not a goal, but an instrument towards facilitating resistance to suppression.

On Bitcoin, Bitcoin Cash, and the Cryptocurrency Market

Roger Ver also reinforced the idea of running full nodes in data centers of industry giants. He then indicated that Amazon and Alibaba hosted several of the nodes Bitcoin Cash was using.

According to Ver:

“To achieve the goal of censorship resistance means that ‘every individual could exercise control of their own digital assets’ in the blockchain.”

Ver has always been a staunch supporter of Bitcoin Cash. He claimed that Bitcoin Cash is what Bitcoin is and more. He also indicated that Bitcoin’s official subreddit on the Reddit forum had been censored for three years.

Just a year after the creation of the first Bitcoin hard fork, there was a split from the blockchain of the hard fork led by Craig Wright, self-acclaimed Satoshi Nakamoto. The impending hard fork led to a disagreement between the Bitcoin Cash camp with several dissociating themselves from Bitcoin Cash. On November 15th, 2018, the hard fork materialized, and Bitcoin Cash SV was created. The hard fork eventually led to a fall in the market capitalization of cryptocurrency, with several traders pulling out of crypto as a result of uncertainty. The move led to the bottom of the bear market which has been steadily growing since it hit a support of $3,200.

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