Roger Ver: Litecoin’s founder, Charlie Lee, has no idea why Bitcoin [BTC] became popular

When asked about what his thoughts were on Litecoin’s creator Charlie Lee, Roger Ver said, that Charlie Lee was waiting for Bitcoin to slack so …

Roger Ver, the founder, and CEO of Bitcoin.com, recently gave an interview at the Bitcoin SV channel. When asked about what his thoughts were on Litecoin’s creator Charlie Lee, Roger Ver said, that Charlie Lee was waiting for Bitcoin to slack so Litecoin can pick up from there.

“His whole goal, from day one, was to be right there ready to pick up the (BTC’s) slack.”, says Roger Ver.

He further adds that the moment Bitcoin’s transaction fee rises and reliability reduces Litecoin would be promoted as the best alternative to Bitcoin. He also adds that if Bitcoin is completely reliable then Litecoin would be pointless.

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“If it wasn’t for the crippling of BTC, Litecoin would be completely pointless and worthless.”

He closes his topic on Charlie Lee by saying,

“I don’t know how much Charlie is in it for the money or not, but I do know that he has zero understanding of the economics of why Bitcoin became popular, to begin with.”

Litecoin’s the sidechain of Bitcoin [BTC]

According to Charlie Lee, Litecoin isn’t competing with Bitcoin but rather acts like a sidechain to Bitcoin. Charlie Lee says that major Bitcoin changes can be first tested on Litecoin and if successful they can be implemented on the main Bitcoin blockchain. One example of this is the implementation of privacy protocol, Mimblewimble protocol.

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Cred Partners with Tron (TRX) and Bitcoin.com to Provide Crypto Lending and Borrowing Services

Bitcoin.com has announced a partnership with Cred in which Bitcoin.com users will earn interests of up to 10% on their crypto holdings. Cred is a …
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Bitcoin.com has announced a partnership with Cred in which Bitcoin.com users will earn interests of up to 10% on their crypto holdings. Cred is a crypto borrowing and lending company whereas Bitcoin.com is an information portal that has over 4 million Bitcoin wallets.

Roger Ver, the CEO of Bitcoin.com, said that they believe that the Bitcoin community needs to adopt the lending and borrowing of the cryptocurrencies. He also mentioned that Bitcoin Cash users will certainly welcome the idea. Roger added that they share the same goals with Cred, lauding the company’s reputable history in providing crypto-based lending and borrowing services to investors.

Dan Schatt, the president and co-founder of Cred, said they were excited to offer Bitcoin.com clients to earn interest on their crypto holdings. He added that customers will get profits irrespective of the prevailing market conditions. This is because the interest amount will be fixed and distributed in stablecoin. Also, customers will benefit by receiving the full upside on the amount of crypto they commit to Cred.

The default commitment period available to Bitcoin.com customers is six months. However, there is an option for extending these terms according to the customer’s preferences. To get the best rates, users are encouraged to stake on LBA, the native token for Cred. The interests will be disbursed every three months in the form of stablecoins. After the stipulated term expires, customers will the exact amount that they committed as principal.

The two companies will pitch the idea to Bitcoin and Bitcoin Cash holders during the Consensus New York Conference. Moreover, they offer at least $25,000 as an incentive to push for the adoption of the program. The program is scheduled to launch in summer and will be open to all crypto investors, regardless of the size of their portfolio.

Besides Bitcoin, Cred gas also launched a similar partnership with the Tron Foundation, allowing TRX holders to earn interest on their crypto holdings. In this regard, Justin Sun, the founder of Tron, said that they were impressed by the past performance of Cred, as well as their in-depth knowledge in mitigating risks and their professionalism. He concluded by stating that both companies are committed to promoting inclusivity in the financial services sector through the adoption of blockchain technology.

All loans issued by Cred are guaranteed and collateralized. The company offers interest for both crypto and fiat currencies. TRX holders who wish to earn interest must send their tokens to their CredEarn wallet for a specified period. Cred is a licensed lender that is available in 50% of American states. The company also boasts one of the best insurance policies for a crypto service provider.

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One Bitcoin Cash (BCHABC) Address Moves Over 50% of The Cryptocurrency’s Market

One Bitcoin Cash (BCHABC) address is gaining attention in the crypto community for making half of the total transactions made on its blockchain.

One Bitcoin Cash (BCHABC) address is gaining attention in the crypto community for making half of the total transactions made on its blockchain.

A single Bitcoin Cash address is responsible for making about 50% of the transactions on the blockchain. The address was created on April 8th and had been making several transactions over the BCH blockchain. As of press time, the address had processed 609,704 transactions. Interestingly, during this period, the entire Bitcoin Cash network had processed only 1.2 million transactions.

Small but frequent transactions

What’s more important to note in this case is that the account has been making very small transactions very frequently. Most transactions are only a fraction of a BCH token. Till date, the address has received 81.334 BCH worth $23,764 and sent 77 BCH worth around $22,500. The wallet has a balance of $1240.

One Bitcoin Cash (BCHABC) Address Moves Over 50% of The Cryptocurrency’s Market

Bitcoin Cash is a fork of the original Bitcoin Core (BTC) blockchain which split in the middle of 2017. The proponents of the new chain wanted to increase the block size to facilitate more transactions in the network and improve scalability. Last year, a similar dispute arose between two developer groups again. Because of which, the blockchain split again into two competing chains- Bitcoin Cash ABC (BCHABC) and Bitcoin Satoshi Vision (BSV). The current BCH chain is a fork of a fork.

What is the wallet trying to achieve?

Bitcoin Cash and other digital currencies have been going through a bearish phase off late. Since the December 2017 boom in prices, these coins have been facing rough times. It was only recently that the coins started gaining some traction.

One of Bitcoin Cash’s main proponents, Roger Ver, has been trying to increase the coin’s adoption in the mainstream. The coin is currently the fourth largest digital coin in the market with a market cap of $5.2 billion. It trades for $294 a coin which is merely a fraction of its all-time highs of $4,355.

It is unclear who holds this new wallet or what the wallet holder’s motive for making these transactions is. However, we can see that transactions spiked dramatically last month since the wallet became active. It is likely that the wallet is trying to make the blockchain look busy artificially. Some optimists suggest that this wallet is being used to test the performance of the network. However, the real purpose looks unclear.

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Single Address Responsible for more than 50% Bitcoin Cash Transactions

Cryptocurrency enthusiasts such as @IamNomad are spreading the word that a single address has been accountable for more than 50 percent of the …

Let us start this article with the innovation of a cryptocurrency which shaken the world with its value. It was named as bitcoin. The value of this cryptocurrency reached an unexpected, nothing less than a miraculous height in the year 2017. In the same year, no of expected transactions for this digital currency started to be very high. However, bitcoin has very low scalability. While Visa is capable of doing around 24000 transactions in a second, bitcoin is capable of doing only 7!

Soon, the bitcoin community started two argue for its scalability. It divided the community into two groups. While one group was admired that scalability should be increased, the other was focussed that bitcoin was not born for high scalability. This conflict in ideas gave the rise of BCH i.e. Bitcoin Cash in August 2017.

So, basically, bitcoin.com diverged into two cryptocurrencies: BTC (Bitcoin) and BCH(BItcoin Cash). It should be noted that both bitcoin and bitcoin cash are completely two different cryptocurrencies. If you buy BCH and transact it in the misconception of BTC, you might lose all of your money. It is common doubt that both BTC and BCH are common but always keep in mind, this two although resembles same but is two completely different digital assets. In simple words, these two assets are as different as US Dollar and Euro!

How bitcoin.com is misleading people?

As stated above bitcoin and bitcoin cash are two different assets. They resemble and pronounce similarly, hence most of the people are in the misconception that both are same. Bitcoin.com is taking advantage of this confusion among the people. It is selling fake bitcoin. It is also misleading people to buy BCH instead of the original bitcoin. It is using various false and irrelevant information in media through various medium to appreciate bitcoin cash and attract people to buy it in assumption as they are the real bitcoin. But this is completely wrong. If a person is buying a BCH, he/she is definitely not buying the original bitcoin. Bitcoin is taking advantage of the similar names of the two crypto assets and misleading the consumers to buy BCH instead of the original bitcoin.

The reason for this misleading information is quite simple. The value of BTC on February 2, 2019, is around $3434.40 whereas the value of BCH on the same date is around $ 117.99. Clearly, Bitcoin is having a higher value than the BCH. So, bitcoin.com is trying to sell as much as BCH it can. It will lead to more economic benefit for the company. This is the reason, it is misleading to buy BCH instead of BTC.

Let us look at the misleading facts spread by bitoin.com using Roger Ver.

Roger Ver making people fool to buy BCH:

Before, how this person is making fool to inspire to buy BCH rather than BTC, we must know who he is.

Roger Ver is a famous personality in the crypto space. He is one the early supporter of bitcoin. He aimed that it could be an economic lifeline currency. He is the owner of bitcoin.com and he was the leading face for gaining the support of people for buying bitcoin. He is also known as ‘Bitcoin Jesus’ due to his contribution to bitcoin during the initial innovation of bitcoin. But nowadays, he is promoting BCH (Bitcoin Cash) rather than BTC. He is misleading people to buy the BCH and making them fool by convincing them to trust on BCH more than BTC. No one has ever expected such a misleading contribution by the person, they treat as the Jesus of Bitcoin. Let us have a small fact supporting us.

We will be concentrating with two of statements of Roger Ver

  1. “I bought thousands of BCC with my BTC so far, how about you?”. Date of statement: 10 August 2018
  2. “I haven’t sold a single Bitcoin for Bitcoin Cash up until yesterday and I sold about a dozen Bitcoins for Bitcoin Cash”. Date of statement: 25 August 2018.

Wait, did you get confused? You would have surely in disbelief after reading the above statements. I first statement given by Roger Ver on 10 August 2018, he said that he had bought 1000 of bitcoin cash with his bitcoin and asked to have others did so? In the next statement made by him on 15 days later, he refused that he hadn’t sold any of his BTC for BCH till 24 August and he had bought BCH only worthy on 12 BTC. Well, this is completely misleading. This is completely a false move done by the owner of bitcoin.com in perspective for the business’s own profit by misleading people. This is surely not expected from a person like Roger Ver

In this article, we got to know how Roger Ver is misleading people to buy BCH rather than BTC for his own profit. We also get to know how bitcoin.om is selling false bitcoin. So, before buying bitcoin from the bitcoin.com, make sure that you are buying original bitcoin, not BCH i.e. Bitcoin Cash otherwise, you could lose all of your money. Be aware of Roger Ver and bitcin.com as for them, it is only the profit of business matters and for this, they could misguide their customers.

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