During a discussion at the ‘Shape the Future’ Blockchain Global Conference in Hong Kong, an interesting wager has been made. Wang Chun, F2Pool owner, has expressed his skepticism regarding the new cryptocurrency, yielded after the Bitcoin blockchain split, Bitcoin Cash (BCH). He claims this currency will be short-lived.
However, if you ask Roger Ver, that couldn’t be further from the truth. Ver is THE leading bitcoin figure, of course, and just to refresh your memory – he is one of the first big investors in bitcoin and one of the premiere virtual currency millionaires. His fascination and belief in BTC’s value has propelled him to fame, even earning him the title, ‘Bitcoin Jesus’ for his evangelical conviction that the currency is the route to all social equality and economic freedom. Anyhow, he demonstrates all of these traits once again in countering Chun and proposing a $1 million bet that BCH is, indeed, destined to greatness and will outlive Chan’s predictions.
The theme of the debate was BTC’s potential versus bitcoin cash. Experts and participants predict another bitcoin split to happen in November, making Wang believe that bitcoin cash will meet its demise soon after.
Ver begged to disagree and straight away proposed a two-year timeframe for a $1M wager claiming that will not happen. Ver is an outspoken fan and supporter of bitcoin cash because he is fond of its low fees that make BCH more in line with his original vision of what BTC should be.
Ver was interviewed by CoinGeek soon after the event and said: “From day one, the plan was always to allow the blocks to become as big as they needed to be in order to accommodate people using Bitcoin, so the fact that this has become a problem with Bitcoin now is actually a sign of its success. Bitcoin Cash is the answer to that problem. Blockstream and these other guys that want to intentionally make the fees high and the confirmations of Bitcoin transactions slow or indeterminate, like, of course people don’t want to use that. Bitcoin Cash is much more useful for people that actually want to use it as money.”
Be it as it may, many other voices support both Ver’s and Wang’s thesis and all make pretty good points – so who is in the right and who will be proven wrong? Have your say in our comments below!
“Roger Ver bets $1M that Bitcoin Cash Will Not Be ‘Short-lived’”, Solana Jasmine, calvinayre.com, September 22, 2017.