Bitcoin.com CEO and Bitcoin Cash advocate Roger Ver has told Bloomberg that his company is considering launching its own cryptocurrency exchange. Ver reports that Bitcoin.com is considering finding a partner to develop the platform, or may “build one internally.”
“If we build it ourselves, we can do it really, really cheap, and we get exactly what we want,” Ver said in an interview in Malta. “But we don’t have the security of a battle-tested exchange that’s been around for a while.”
Ver declined to provide too many details on the project, but the new platform is expected to be placed on the Bitcoin.com website. Given the established popularity of Bitcoin.com, Ver suspects that the exchange could get “thousands or tens of thousands of new users every single day” from the site’s preexisting traffic. Ver also made clear to Bloomberg that Bitcoin Cash would serve as the base currency for the proposed exchange.
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Despite being one of the earliest public advocates for Bitcoin while cryptocurrency was still in its infancy, Roger Ver has recently become a highly controversial figure in the digital money community. Public opinion towards Ver began to change for the worse following Bitcoin’s first major hard fork in August 2017. Ver is considered by many to have turned his back on Bitcoin—and perhaps the cryptocurrency community as a whole—when he openly admitted that he had traded in his massive Bitcoin holdings in favor of the newly launched Bitcoin Cash. Since then, Ver has become an evangelist for BCH, seeking to promote the coin at every opportunity, often at the expense of Bitcoin, of which he has become extremely critical.
Ver claims that Bitcoin has lost touch with the vision that its creator Satoshi Nakamoto had intended it to realize. He told an audience at the recent Delta Summit Malta on October 5th that Bitcoin is “no longer usable as money.” Like many in the world of cryptocurrency, Ver holds to a strong Libertarian political viewpoint, and has stated that the ultimate goal for digital currencies is that they become the catalyst for a financial revolution, wherein government ceases to hold a monopoly over the world’s money supply. He said in his recent speech that he will “never give up” until this goal is achieved:
“I remember when I bought my first Bitcoin for a dollar and it went all the way up to 30 dollars that summer in 2011. It then dropped all the way back down to two dollars. It lost 90 percent of its value over the next year. But in investing, like in hockey, you don’t skate to where the puck is currently, you skate to where its going to be in the future. It’s very clear that all the adoption by the merchants and all the businesses are being built on top of Bitcoin Cash at this point. So for the future I think Bitcoin Cash is going to be the best investment standpoint.” -Roger Ver on CNBC’s Fast Money
It remains unclear, however, whether Bitcoin Cash is the cryptocurrency best suited to bring about such an economic revolution. There have been recent reports that the currently fourth-ranked cryptocurrency has encountered significant drop-offs in users, and BCH’s price has continued to crash since the beginning of 2018. Furthermore, despite Ver’s perceived sincerity, many of his critics have taken the position that Ver’s support of BCH boils down to a power-grab, wherein he abandoned his support for Bitcoin in an effort to sway public support towards a cryptocurrency over which he could have greater control and influence.
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