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Roger Ver Just Made The Bitcoin Community Very Unhappy With A CNBC Appearance

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For anyone that’s spent a certain amount of time in the cryptocurrency (and, in particular, the bitcoin) space, Roger Ver will be something of a household name. Dubbed the Bitcoin Jesus, he’s famous in the sector for his early support, buying up 25,000 BTC at $1 (an investment that’s now worth more than $425 million) and, subsequently, for pushing the bitcoin agenda across the globe between, say 2012-2016.

More recently, however, he’s turned from bitcoin saint to bitcoin sinner.

On the off chance that anyone missed the story, Ver is now a proponent of what’s called Bitcoin Cash (BCH), which is a fork of the bitcoin chain (which is now being called Bitcoin Core) and it’s designed to function in a similar way as does bitcoin but with faster transactions and lower fees.

And to Ver’s credit, it does exactly that.

The problem is, however, he’s marketing Bitcoin Cash as the ‘real’ bitcoin and, at the same time, promoting the suggestion the Bitcoin Core is not the version of bitcoin outlined in Nakamoto’s now famous whitepaper.

 

He’s also the owner of Bitcoin.com, which makes things a little complicated. Basically, Bitcoin.com offers him a platform from which to spread his belief that Bitcoin Cash is the bitcoin of the future and this has served to anger many of those holding, or using, or even just involved in, Bitcoin Core.

So why is this important today?

Well, take a look at this video.

The video is a YouTube reproduction of CNBC’s Fast Money from early this week and – you guessed it – the guest being interviewed is none other than Ver. Now, this wouldn’t normally be a problem. Well, it wouldn’t have been twelve months ago. Now, however, Ver is a Bitcoin Cash proponent and this sets up a skewed incentive type situation – one in which there’s a real conflict of interest.

Bitcoin Cash Chart

Bitcoin Cash Chart

For anyone that doesn’t want to watch the video, Ver is set up by the team at CNBC as being a guru in the bitcoin space and he then spends his time outlining a long-term bearish view for bitcoin, in favor of Bitcoin Cash.

At the interview’s completion, a number of the anchors suggest that, on the back of what Ver has said during the interview, they deem Bitcoin Cash as the better investment right now, as opposed to bitcoin (Bitcoin Core).

So why is this a problem?

Well, Bitcoin Cash is essentially an altcoin that Ver has a very vested interest in and it’s very favorable to him (from a financial perspective) to market Bitcoin Cash and, in turn, to push its price up on the open market. That’s not a problem but when you’ve been given a platform such as Fast Money and you use it not only to promote personal interests but to also suggest that a competing asset, one for which you are considered the guru in a large portion of the investment community, has a long-term bearish outlook, it becomes something of a problem.

The market response to the development has been somewhat flat. Bitcoin Cash is up a couple of percentage points, as is bitcoin (Core) and this may be something to do with the complexities of buying Bitcoin Cash as compares to Bitcoin (or a general lack of understanding of the two) right now.

When Bitcoin Cash is listed on Coinbase, however, as is widely expected to be the case by the end of this year, this conflict could heat up.

Again, for anyone that’s not seen the CNBC interview, it’s well worth a look.

Additionally, for anyone that wants to see just how much Ver cares about Bitcoin Cash (and, specifically, the fact that it’s referred to as Bitcoin Cash and not BCASH, as some of the community are calling it), here’s an interview that’s well worth checking out.

 

We will be updating our subscribers as soon as we know more. For the latest on BCH, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of Bitcoincash.org

Bitcoin

Stepping off the rollercoaster: Why I’ve fallen out of love with Bitcoin

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The very word Bitcoin has almost become synonymous with that of cryptocurrency. It’s basically just a medium of conducting digital transactions – it’s a virtual currency and one of many. So how has it taken on a definition of its own and asserted itself as a leader in the digital financial ecosystem?

Bitcoin has been crowned king of altcoins, probably because it was one of the earliest and most successful of its kind. The trendsetter has ushered in a wave of cryptocurrencies built on decentralised P2P networks and has inspired a growing number of followers and spinoffs. But is Bitcoin struggling to keep up with the newcomers who have made considerable developments to the stability, security, and usability of the crypto world?

The supporting case for Bitcoin has been a clear one. Its pioneering infrastructure has situated it in a position of dominance in the altcoin realm. Bitcoin has a proven usage case as a store of value. Having existed over 8 years without failure, it has a large lead over most altcoins and has withstood the test of time as younger counterparts join the market. However, it seems to be on a downward slope, or at the very least, not progressing at the speed of the market.

In May this…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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