Roger Ver Admits That He Still Owns Bitcoin

Roger Ver, the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Cash advocate and 'Bitcoin Jesus'-turned-'Bitcoin Judas' has admitted that he still owns some of the Bitcoin that he has denounced so strongly.

"Like any smart investor, I don't put all of my eggs in one basket," said Ver in an interview at the Blomberg Invest Asia Conference in Hong Kong. "So I still do own some Bitcoin core, but the vast majority I have converted into Bitcoin Cash."

Ver, who is also the owner of Bitcoin.com and the suspected operator of the controversial @Bitcoin Twitter account, continued by reaffirming his support for BCH: "I'm more bullish about Bitcoin Cash than I have been about Bitcoin core before it split. It's actually getting adoption all around the world, more and more merchants are accepting it, it's easier to use."

An Ongoing Battle

Bitcoin Cash has been in a battle with Bitcoin ever since its inception in August of 2017.

It’s certainly not private knowledge that Bitcoin, which is (and has always been) the largest cryptocurrency network in the world, has been plagued with a series of problems.

Perhaps the most prominent of these issues is Bitcoin’s scalability; the Bitcoin network is only capable of processing an average of three to four transactions each second. For perspective, the Visa payment network is capable of processing several thousand transactions per second.

Bitcoin Cash was created through a kind of software update called a ‘hard Fork Fork A fork can occur when a blockchain diverges into two potential paths forward, there is a change in protocol, or a scenario occurs in which two or more blocks have the same block height.Because blockchain networks are decentralized, the participants on the network must come to an agreement when it comes to things like software upgrades to a network. This is called consensus.When consensus cannot be achieved on a software upgrade, a fork occurs, effectively representing a divergence in software th A fork can occur when a blockchain diverges into two potential paths forward, there is a change in protocol, or a scenario occurs in which two or more blocks have the same block height.Because blockchain networks are decentralized, the participants on the network must come to an agreement when it comes to things like software upgrades to a network. This is called consensus.When consensus cannot be achieved on a software upgrade, a fork occurs, effectively representing a divergence in software th Read this Term’ as a replacement for the Bitcoin network. The cryptocurrency sought to improve upon the Bitcoin network with larger block sizes and decreased mining difficulty, two features that make the process of transaction confirmation relatively faster.

However, the Bitcoin Cash network has been the subject of some controversy after several allegations of a massive pump-and-dump scheme and insider trading on the BCH network emerged last year.

Several weeks after the first of these alleged pump-and-dump schemes, Roger Ver had a public meltdown in an interview with Bitcoin Error Log host, John Carvalho. Ver flipped off Carvalho and accused him of “calling my project names” after Carvalho referred to Bitcoin Cash as “Bcash.”

At press time, Bitcoin Cash was trading for roughly $660.