In a recent interview, Bitcoin Cash’s Roger Ver, hailed by many as “Bitcoin Jesus” in the community, spoke about the use of cryptocurrencies in times of financial crises, the upcoming Bitcoin halving and the challenges cryptocurrencies face today.
During the interview, Ver said that he thinks financial crises are not inevitable, adding that they are caused by small groups of people manipulating the world’s money supply. He also said that “if we brought cryptocurrencies to the world, we would have a lot less of these financial crises.”
With regard to the use of cryptocurrencies in times of recession, Ver said that people prefer stable, reliable, and traditional hard assets, while also claiming that the public doesn’t view cryptocurrencies as something like that as of now. While conceding that he would love to see more cryptocurrency adoption among people, Ver added that this isn’t likely to happen soon. However, Ver said that he is hopeful of adoption rising in the near future.
With respect to the upcoming Bitcoin halving event, the early Bitcoin investor said that “basically nothing much happened at all” the first two times. According to Ver, “that’s likely to be the case this time.”
“I think it’ll be kind of like Y2000. Everybody was all worked up about it, and then nothing happened.”
However, Ver did mention that the halving would push the price of Bitcoin Cash upwards, before advising viewers to buy more of BCH now. He also added that as more halvings happen, the inflation rate would fall. Ver also claimed that the rise in price and market cap with growing adoption would lower the amount of inflation per year.
The Bitcoin.com CEO also spoke about how user awareness is the biggest challenge for cryptocurrencies right now, adding that a lot of people have the misconception that cryptocurrencies are meant to be held, not spent.
“The only reason you would save anything is that you can spend it later, right? Or so it’ll have more value later. But what actually causes that, is adoption in commerce. A lot of people don’t understand that, or haven’t had it pointed it out to them. There’s no point in holding a cryptocurrency that you can’t spend.”
Further, Ver explained how the ability to pay dividends to the equivalent of anonymous bearer shares on the Bitcoin Cash network is one of the most important inventions in cryptocurrencies over the last few years. Subsequently, he spoke about a tool which enables users to pay dividends to holders of Bitcoin Cash-based tokens.
“The dividends can be paid either in Bitcoin Cash directly, or any other Bitcoin Cash-based tokens. That enables all sorts of things like receiving interest on stablecoins while maintaining custody at the same time.”
Ver also said that there is a whole lot more potential upside from an investment and holding standpoint for Bitcoin Cash, more than for any other cryptocurrency. As time passes, there will be more security token offerings leveraging the Bitcoin Cash platform, Ver concluded.
