Roger Ver Unfazed By Bitcoin Crash, Maintains Crypto Has Value
Roger Ver, CEO of Bitcoin.com and the de-facto face of the Bitcoin Cash (ABC) project, recently met with Bloomberg in an exclusive video. Ver, known for his hate for centralized entities, and radical libertarian thought process, and penchant for the Austrian brand of economics, maintained that cryptocurrencies still have value, even in spite of 2018’s dismal market trend.
Crypto Champion Roger Ver Still Undoubtedly Bullish
Roger Ver, one of the crypto industry’s earliest proponents, has long been a leading champion of this innovation. While he may have strayed to the ‘dark side’ (in the eyes of some) since August 1st, 2017’s infamous Bitcoin hard fork, he continues to laud cryptocurrencies for their groundbreaking potential and ability to disrupt centralized players.
He recently took this passion to the streets of Tokyo, Japan, where he was met by Bloomberg to conduct an interview regarding crypto’s most recent happenings.
The Bloomberg host, evidently referencing reports that November 2018 has been Bitcoin’s worst month in years (some say seven), noted that markets have been “chilly,” before asking Ver if a “floor has been reached.” The ardent Bitcoin.com CEO, quick to the draw, exclaimed that “nobody knows.” Ver then joked that this unpredictability regarding “up, down, or sideways” movements are just a part of cryptocurrencies’ inherent “fun.”
Doing his best to egg his interviewee on, the host went on to ask Ver about his “gut feeling.” The Bitcoin Cash proponent, who lauds BCH as the true digital cash, doing his best to specify a prediction, responded by stating:
I’m a fundamentals investor, so I’m investing [due to] fundamental [factors]. [In the] long-term, the future is brighter than ever [for cryptocurrencies]. There’s more awareness, there’s more adoption, and there’s more stuff happening all over the world. So, of course, I’m incredibly bullish on the entire crypto-coin ecosystem.
In spite of Ver’s positive comments on the cryptosphere, the host, who didn’t seem all too sold on crypto, asked Ver if the $530 million hack of CoinCheck and/or a notable Japanese Bitcoin Ponzi scheme have undermined this innovation’s viability or credibility. Interestingly, Ver turned the question right on its head, noting:
If anything, I think its brought additional awareness to the ecosystem. The fact that such big players (institutions) are involved, and hackers are trying to hack it, means that cryptocurrencies are worth something. if it wasn’t worth anything, or if it wasn’t useful, hackers wouldn’t waste their time… So, if anything, it’s just a bullish signal that cryptocurrencies are here to stay for the long-term.
Ver: Self-Regulation Makes Sense
The host went on to touch on the Japanese Financial Services Agency (FSA), the nation’s equivalent of the SEC, and the approval it gave to Japan Virtual Currency Exchange Association (JVCEA) to self-regulate local crypto exchanges. Ver was asked if such a move is logical, and unsurprisingly, the anti-government commentator said that self-regulation makes sense.
The Bitcoin.com chief explained that the industry knows itself best, making self-regulation presumably better for all parties. He added that in the end, the JVCEA will be incentivized to establish proper guidelines, as the firms in the consortium have a vested interest in the continued success of cryptocurrencies. More specifically, presumably drawing hints from the countless Japanese exchange hacks, Ver added that “not letting bad things happen to their users” is evidently a good choice.
Speaking out against regulatory measures imposed by bureaucrats, Ver noted:
To think that a politician in some government office somewhere knows more about how cryptocurrencies work and how to keep them safe from hackers, I think is just naive. So of course its the industry participants, that know the most and have the most skin in the game.
Concluding his comments, touching on what could send cryptocurrencies assets higher over the long haul, noted:
I think we need to build the tools to make it easier to use cryptocurrencies, as money, to buy and sell things, and to pay their bills, and pay their rent, and even pay their taxes.