In a Cointelegraph unique interview, Roger Ver bears all of it ‒ how his jail expertise made him see Bitcoin’s potential, why Bitcoin Money (BCH)
In a Cointelegraph unique interview, Roger Ver bears all of it ‒ how his jail expertise made him see Bitcoin’s potential, why Bitcoin Money (BCH) is best than Bitcoin (BTC), and why Bitcoin Money will admire 1,00zero occasions.
Jail
A lot of the crypto group is aware of that, in his youth, Roger Ver had run-ins with the regulation; in truth, he was sentenced to 10 months for promoting explosives on eBay.
Nevertheless, not many know that this expertise not solely offered Ver with ample time for studying, but in addition allowed him to look at how in a intently managed atmosphere, “commodities” like tobacco, stamps, and noodles turn out to be mediums of change:
“So once I noticed the jail economic system and the way individuals have been shopping for and promoting issues and the way issues simply naturally grew to become used as cash in jail, it validated what I had examine theoretically within the economics books as to what the origin of cash was.”
BCH will go up in worth 1,00zero occasions
Ver is unabashedly optimistic concerning the prospects of BCH: “Bitcoin Money may doubtlessly go up 500 or a 1000 occasions from the place it’s in the present day. I do not assume BTC is ever going to go up.” Ver believes that Bitcoin “dedicated financial suicide” when it refused to extend its block dimension. He additionally claims, pointing to Bitcoin:
“There’s nothing that may ever be used as a retailer of worth that does not have a secondary use case. It simply plain does not exist in your entire world. I do not assume anyone can consider an asset that is solely use case as a retailer worth. It does not exist.”
If you wish to know why Roger Ver was known as “The Harmful One” in jail, watch the total interview.
“The Harmful One”
In Jail, Ver’s nickname was “El Peligroso” which interprets as “The Harmful One”… Nevertheless, this wasn’t a testomony to how badass Ver was, however extra of an irony – “I simply stayed in my mattress all day day by day studying books, and I hardly left my bunk mattress in any respect.”
[00:01:09-00:01:15] When Bitcoin got here alongside, I assumed, oh, I higher promote my Lamborghini to purchase extra Bitcoin. And that is precisely what I did. I went the reverse path.
[00:03:19-00:03:26] So earlier than I went to jail, I would spent quite a lot of time learning economics books since significantly the origin of cash and the way one thing comes for use as cash.
[00:03:39-00:03:53] In jail, everyone is utilizing tobacco as cash as a result of you possibly can smoke it. They’re utilizing prime ramen soups as cash as a result of you possibly can eat it, utilizing postage stamps as cash, as a result of you possibly can mail issues with it. All of these items have these extra use instances outdoors of simply being a retailer of worth.
[00:03:53-00:04:05] So once I noticed the jail economic system and the way individuals have been shopping for and promoting issues and the way issues simply naturally grew to become used as cash in jail, it validated what I had examine theoretically within the economics books as to what the origin of cash was.
[00:04:57-00:05:18] Yeah, lots of people do not realize it, fortunately, as a result of they’ve by no means been to jail. However in jail, there may be simply this large inner jail economic system the place individuals are doing something and the whole lot to earn cash and serve their fellow males. So the whole lot from cooking for one another, doing one another’s laundry, shining footwear, you recognize, even prostitution companies like something and the whole lot is happening.
[00:06:47-00:07:15] Yeah. So for people who do not communicate Spanish, my nickname in jail was El Peligroso, which suggests “The Harmful One”. But it surely was simply extra of a joke than something, as a result of all I did on a regular basis in jail is I as soon as I found out how issues work, I used to be in a position to pay any individual else to do my job throughout the jail. And I simply stayed in my mattress all day on a regular basis studying books, and I hardly left my bunk mattress in any respect. I simply stayed in mattress studying books all day, day by day. So it was only a joke as a result of at that time I in all probability weighed perhaps 120 kilos or one thing like that.
[00:09:48-00:09:54] Bitcoin Money proper now, in the present day is the second most used cryptocurrency in your entire world behind solely the BTC model of Bitcoin.
[00:10:04-00:10:11] Bitcoin Money may doubtlessly go up 500 or a 1000 occasions from the place it’s in the present day. I do not assume BTC is ever going to go up.
Fusion is superb. If individuals have not appeared on the money fusion but, it is incredible. It will make bitcoin money simply as non-public in the identical ballpark of privateness degree as one thing like a Monaro or Z money.
Bitcoin money has extra usefulness in commerce than bitcoin, and I feel the day will come when the worth will mirror that as a result of bitcoin money value might be greater than the BTC model of bitcoin value.
I do not assume that that is a a wild factor to say. I feel that that is that is the long run. As a result of when bitcoin restricted its block area, it restricted its usefulness, its commerce, its restricted censorship resistance, it restricted its capacity to be adopted by individuals world wide. It mainly dedicated financial suicide or first mover benefit suicide and for me is among the greatest holders of bitcoin in your entire world and the proprietor…