Roger Ver explains why he prefers Bitcoin Cash over Bitcoin
Speaking to CNBC, Ver says cryptocurrency users and developers everywhere are switching to Bitcoin Cash from Bitcoin, or “Bitcoin Core” as he calls it.
Ver earned the Bitcoin Jesus moniker from being one of the very first big investors in Bitcoin.
He has since turned to enthusiasm to Bitcoin spin-off, Bitcoin Cash, however.
Last year, a small group of developers decided to add transaction efficiency upgrades and split Bitcoin Cash off from Bitcoin.
Bitcoin is often referred to as “Bitcoin Core” to differentiate it from the newer version, much to the frustration of many Bitcoin enthusiasts.
But Ver says the Bitcoin software is now too “slow, expensive and unreliable.”
Bullish on Bitcoin Cash
Instead of Bitcoin, Roger Ver aggressively recommends Bitcoin Cash, which he says is built specifically for transactions.
According to Ver, new infrastructures and innovation are being built on top of Bitcoin Cash, “because it actually works.”
Speaking on Tuesday during CNBC’s “Fast Money” explains why his own crypto website uses Bitcoin Cash, saying:
“All of these existing businesses are building their new products on top of bitcoin cash, just like myself as the CEO of bitcoin.com.
“The economic path that bitcoin cash is on is the one that led to bitcoin’s original success.
“I’m incredibly bullish on bitcoin cash for the exact same reasons I was bullish on bitcoin back in 2011.”
Earlier this week, Bitcoin Cash updated its core software with 32 MB block size limits on the blockchain.
Bitcoin Cash’s value fell by about 5 percent following the upgrade.
At the time of press, BCH is trading at around $1280, according to the Coin Thud live price charts.
Despite this minor drop, Bitcoin Cash is still almost double its April 17 low of $763.
Bitcoin Cash was the best performing large-cap cryptocurrency in the last month.
As cryptocurrency prices recovered, BCH beat other large-cap digital assets like Bitcoin, Ethereum, and Ripple.
When Ver was asked about Tuesday’s sudden decline in values, he said he wasn’t worried.
Roger Ver even predicts that Bitcoin Cash will double in price by the end of 2018, saying:
“That’s what actually gives [Bitcoin Cash] its underlying value, that you can use it in commerce to pay for things.
“Whereas, a lot of these other tokens out there just kind of turn into speculative assets that don’t actually have any utility.”
“It’s happening fast and furious around the world.
“Bitcoin Cash works as money; Bitcoin core, sadly, no longer does.”