Bitcoin Cash’s Roger Ver claims govts. cannot shut down cryptocurrencies overnight
The Bitcoin Cash community rejoiced recently after Roger Ver aka Bitcoin Jesus revealed that he would spend $200 million on developments pertaining to the BCH ecosystem. While Ver has been at the forefront of the Bitcoin Cash ecosystem for a long while now, the latest news may just provide a fresh impetus to the adoption of the cryptocurrency. In a recent interview, Ver expanded on his aforementioned investment plans.
The investment will follow by the beginning of 2020 and would be mostly used for developing tools that will allow people to start using Bitcoin as cash. Citing the recent partnership with prominent cell phone manufacturer HTC, Ver highlighted that several other deals with popular brands from across the globe are already in the works. He stated,
“So all the adoption in commerce is busy happening on Bitcoin Cash. And I think that’s where the smart money is going to be looking at, especially in 2020.”
Soon after Facebook announced the launch of its cryptocurrency venture, Libra, regulators from across the world expressed grave concerns over the project. While some in the industry fear that the government could put an end to cryptocurrencies, Ver believes that governments could do no such thing overnight. He added,
“Yeah, I think that’s the only thing that governments can do is make things difficult for people in their lives. If the government wants to make things better for people in their lives, it just needs to get out of the way.”
According to the Bitcoin Cash proponent, the government has the power to shut down the Ford Motor company overnight. However, it is not possible for it to do the same with cryptocurrencies. Citing the case of China, Ver said that despite the country trying to block Bitcoin and other cryptocurrencies, one of Ver’s platforms, Local.Bitcoin.com, has enabled people to use BCH as a payment method, without having to go through KYC. In fact, transactions from Chinese users are going “through the roof,” he revealed.
Roger Ver concluded by stating,
“So that’s just an example of how, even as China is trying to clamp down on it, people are finding ways to circumvent those clamps. And that’s going to continue to be the case for cryptocurrencies. And that’s what makes them so exciting and useful and powerful tools to bring more economic freedom to the world.”