Bitcoin Jesus Roger Ver Is Still Bullish on Bitcoin Cash After Hard Fork
Roger Ver remains bullish on Bitcoin Cash despite the continuous decrease in price within the month entering yesterdays hard fork. Occasionally known as the “Jesus of Bitcoin” because he had been among the initial investors in the electronic money, Ver currently frees Bitcoin Cash that he says has been designed specifically for trades.
Bitcoin Cash was forked from Bitcoin a year ago with a bunch of developers that understood updates in the initial applications could enhance the coins trade efficiency. Referring to Bitcoin as Bitcoin Core Ver reported the program is “slow, unreliable and expensive.”
Ver who’s CEO of Bitcoin.com a site which guides investors at the cryptocurrency marketplace told the bunch of Quick Money that advanced company are being assembled with Bitcoin Cash in your mind “since it really works.” He lasted on the series to state:
“All of these existing businesses are building their new products on top of bitcoin cash, the economic path that bitcoin cash is on is the one that lead to bitcoin’s original success,”
BCH Hard Fork Brings no Relief From Sliding Price
Bitcoin Cash conquer other high-value monies in the previous month such as Ethereum and Bitcoin are the greatest performing coin despite the fact that it’s been on a continuous decline leading to the May 15 fork.
Trading in a minimal now of $1,250 based on livecoinwatch.com, BCH is down substantially from its current high of $1,754 on May 6 but nevertheless nearly double it is April 17 low of $763 when Brian Kelly of BKCM stated it’d make a comeback over the year.
Tuesday’s hard fork introduced many modifications to the community that contained an increase of the maximum block size to 32 MB that enables as many as 61 trades each second to happen. However it did not create an uptick in price throughout the lead up to it.
Just the reverse has occurred in reality, BCH has dropped around 12 percent in the 24 hours since the fork. Why? Since this newest fork offered no advantages to people who already possess BCH. Traditionally a fork could reward money holders by decreasing their amount of equal coins. Holders would maintain their initial investment and get the exact same sum on the brand new blockchain. With this fork, holder’s coins will just be transferred to the new blockchain in precisely the exact same price.
“That’s what actually gives it it’s 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.”