Roger Ver's Fireside Chat on BitcoinCash in Tokyo
Have you watched Roger Ver's fireside chat in Tokyo?
Roger Ver sat with Kazumoto Ohno for a Fireside Chat in Tokyo on July 25, 2023.
Kazumoto-San said, "Let me make sure that you are not Satoshi Nakamoto. "
Roger immediately said, "I am not Satoshi Nakamoto."
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The critical question is, "What went wrong with Bitcoin?"
During the chat, Kazumoto San asked explicitly about the problems with Bitcoin.
Kazumoto San's question was, "What went wrong with Bitcoin?"
Roger Ver's reply was straightforward.
Roger pinpointed the main problem with Bitcoin.
Roger Ver explained why Bitcoin went from 90 percent of the crypto market share to less than 50 percent of the market.
Roger further said that Bitcoin is not suited to peer-to-peer payments that Satoshi Nakamoto's original Bitcoin whitepaper proposed.
The other cryptos, like Monero, BitcoinCash, etc., are more suited for peer-to-peer payments.
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BitcoinCash solves all the problems in Bitcoin.
Then, Kazumoto San specifically asked about BitcoinCash.
Kazumoto San enquired why BitcoinCash emerged as the largest adopted cryptocurrency among the hundred-plus hard forks of Bitcoin.
Roger Ver explained there was something wrong with Bitcoin. If we go by Satoshi's whitepaper, then BitcoinCash is the original Bitcoin.
If Bitcoin is BTC, it might have the highest price and market cap, but it is not suited for peer-to-peer payments because it requires a long time to process each transaction, and the cost per transaction is high.
BitcoinCash or BCH is better suited for peer-to-peer payments. BCH should have received the largest market cap and price rate. But, unfortunately, because of crypto politics and popular reasons, BTC still got a significant share of the crypto market cap.
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BCH is present in some countries, such as St. Kits and Antiga, and has been adopted in the digital marketing project CashRain.
Kazumoto San asked Roger's comments on BCH as the legal tender in some countries, such as St. Kits.
In his answer, Roger also mentioned Kim Dot Com's CashRain project, which is making waves in BCH-powered digital marketing.
When Kazumoto San asked what was so special about BCH, Roger advised them to compare BTC and BCH by making payments.
He further said that BTC payments take 20 cents to 20 dollars, whereas it may take up to two weeks to confirm a transaction.
BCH transaction gets confirmed within seconds with a fee of a cent or two per transaction.
Roger's chat touched on all the positive points around BCH.
The full video chat of Roger Ver with Kazumoto Ohno is here.
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Cheers!
Unity (Debesh Choudhury)
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July 29, 2023
