Roger Ver shares why Bitcoin lost its way and coins like Litecoin [LTC] have become so popular
In the recently concluded Coinsbank Blockchain Cruise, Roger Ver shared his views on Bitcoin [BTC], Bitcoin Cash [BCH] and Litecoin [LTC].
According to AMBCrypto report, Ver stated that he got into cryptocurrency for because of the inspiration he got from science fiction stories and how using cryptocurrencies, it could be implemented. The Bitcoin.com CEO believes that cryptocurrencies enable the marriage of computer science engineering and economics. While discussing digital assets, he spoke about how it can change the society and advantages countries can enjoy using cryptos.
According to Ver, digital assets can result in higher per capita income, higher literacy rate, increased life expectancy, and reduce in corruption rates and bribery. Ver also believes that economic freedom of countries plays a crucial role in cryptocurrency adoption. Adding to it, he said that countries like Hong Kong, Singapore, and New Zealand that enjoy financial leeway, results in cryptocurrency adoption.
Roger Ver on Bitcoin, Bitcoin Cash & Litecoin
The CEO of Bitcoin.com shared why BTC was so popular in 2011, why cryptocurrency suffered in 2018 and reasons why other coins are doing well. According to him, BTC lost its way and therefore coins like Litecoin [LTC] have become so popular. He added, in 2018, BTC was not a peer to peer network and had high transaction fees. “Can you believe it? The BTC core developers totally forgot what the original Bitcoin stood for. Last year the transactions on the blockchain had an average transaction fee of $50. That is crazy!” he exclaimed. “The BTC core developers understand the software code but do not understand the economics code.”
He concluded the presentation at the conference mentioning the advantages of Bitcoin Cash [BCH]. Ver believes, BCH allows people to enforce property rights and helps in making it easier for people planning to start a business.
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