@Nathan6692 2 April 2021 more from that month

Why Roger Ver prefers Bitcoin Cash to the original BTC While Bitcoin has become the darling of big investors, one prominent cryptocurrency evangelist would like you to take a closer look at its smaller sibling crypto, Bitcoin Cash. Bitcoin Cash is currently the 13th most popular cryptocurrency in the world, with a US$9.6 billion market capitalization that is just a fraction of Bitcoin’s US$1 trillion. But the transaction volume on the Bitcoin Cash network is outpacing transactions on the Bitcoin network at a 10:1 ratio, according to blockchain analytics engine Blockchair. “One of the things that most people don’t realize — there are already more transactions happening on the Bitcoin Cash network, right now, today, than there are on the Bitcoin network,” Bitcoin.com executive chairman and Bitcoin Cash promoter Roger Ver told Forkast.News in a video interview. “Right now, today, as we’re recording this, more people are going to transact on the Bitcoin Cash network than on Bitcoin.” Bitcoin Cash came into existence in 2017 after the Bitcoin community split into two factions. One group wanted Bitcoin to remain a simple store of value. But another group favored developing Bitcoin as a peer-to-peer transaction vehicle and to increase the block size to hold more transactions. A hard fork on the Bitcoin blockchain gave birth to Bitcoin Cash. “I have two regrets currently,” Ver said. “I regret that the split between those camps didn’t happen earlier.” Ver also wishes his timing would have been better, as he did not get a 100 to 1 Bitcoin Cash to Bitcoin exchange, which was the exchange rate at the time of his trade. Today, the BCH to BTC exchange rate is at around 500 to 1. Ver has been trotting the world to spread the gospel on Bitcoin Cash — the same kind of evangelism he practiced in promoting Bitcoin in its early days that earned him the moniker “Bitcoin Jesus.” The Caribbean island nation of Antigua and Barbuda — one of the places where Ver obtained citizenship after renouncing his U.S. passport — reportedly now has over 40 major businesses that accept Bitcoin Cash for goods and services. The average Bitcoin transaction fee is over US$17, while Bitcoin Cash transactions have seen fees as low as US$0.0033. “They would have been doing it with Bitcoin, but it doesn’t work as cash anymore,” Ver said. “Bitcoin at this point is just speculators speculating on the future speculation of future speculators.” It is worth noting that layer 2 protocols such as the Lightning Network have enabled cheaper Bitcoin transactions in some areas, including a small village in El Salvador that has adopted Bitcoin as a payment method. However, two researchers authored a research paper that found a vulnerability in Lightning Network that would enable attackers to steal Bitcoin. “The resulting high volume of transactions in the blockchain will not allow for the proper settlement of all debts, and attackers may get away with stealing some funds,” researchers Jona Harris and Aviv Zohar noted. “Everyone says, ‘Lightning Network this, or Layer 2 that,’ that’s probably been the biggest, overhyped piece of vaporware ever in the history of the internet,” Ver said. “Maybe someday it will be and I’ll be cheering for it when it is, but it’s just plain and simple not there yet.” Following the Bitcoin Cash hard fork of 2017, another hard fork on the Bitcoin Cash blockchain occured in 2018. This time, Ver — along with Bitmain co-founder Jihan Wu — supported the camp that championed the software Bitcoin ABC (“adjustable blocksize cap”), which would keep the Bitcoin Cash blocksize at 32 MB. The other camp, led by Australian computer scientist Craig Wright — whose claims to be Satoshi Nakamoto are seriously disputed — and billionaire entrepreneur Calvin Ayre increased the block size to 128 MB and created Bitcoin SV (BSV). Recently, a 638 MB block was processed on the BSV network. Then, in 2020, Bitcoin Cash experienced yet another hard fork after the Bitcoin Cash community rejected a proposal on the distribution of mining rewards for the development team, which created Bitcoin Cash ABC (BCHA). Ver, who spoke from the French Caribbean island of St. Barts (also known as St. Barthélemy), continues to spread the word on Bitcoin Cash and other cryptocurrencies around the world. Next week, he will beam in as a special speaker at the all-virtual GBA (Greater Bay Area) Blockchain Week 2021. China’s Greater Bay Area region includes Hong Kong, Macao and nine cities in the Guangdong province. Watch Ver’s full interview with Forkast.News to learn more about why Bitcoin Cash is outpacing Bitcoin’s transaction volume, the difference between BTC and BCH, why Ver believes cryptocurrency really is “above the law,” and why John McAffee should be freed. https://www.google.com/amp/s/forkast.news/roger-ver-bitcoin-cash-btc/amp/