Famous entrepreneur and crypto investor Roger Ver recently tagged Bitcoin as a governance surveillance coin. Roger believes that Bitcoin lacks privacy and cannot be scaled.
While the influential investor strongly supports cryptocurrencies, it seems Bitcoin is not his favorite.
Roger is a renowned investor in crypto companies like Bitcoin.com, Blockchain.com, and Ripple. In recent years since late 2017, the early crypto adopter and entrepreneur has been promoting Bitcoin Cash, an altcoin with lesser fees for payments.
Roger’s Stance on Bitcoin
Bitcoin has commanded the attention of governments and big industry players in the last few years. Notably, El Salvador has embraced Bitcoin fully, making it a legal tender. Perhaps, this is one of the reasons why Roger sees the potential of Bitcoin to become a government surveillance coin.
While Bitcoin fans strongly believe the flagship crypto asset will replace regular currencies soon, Roger Ver has a differing opinion. Mr. Ver believes Bitcoin can never become peer-to-peer cash for the world. He once stated that Bitcoin’s whitepaper does not describe what the asset is today. Bitcoin is far from being the best cryptocurrency that can be used for payments, and the blockchain cannot support millions of users simultaneously. As such, Roger doesn’t see as much potential in Bitcoin as the maximalists.
Bitcoin vs. Bitcoin Cash
Bitcoin Cash (BCH) is a fork of Bitcoin. Both coins have a total supply of 21 million coins. Although Bitcoin is dominant, BCH stands as a better alternative for payments. Transaction fees in Bitcoin Cash are negligibly. This is because the Bitcoin Cash blockchain has larger blocks than in Bitcoin. As such, it can accommodate larger and more transactions.
Despite the edge BCH has over BTC, BTC is still more widely known and used than BCH. Perhaps, more BCH supporters like Roger will be needed to drum up more support for the coin, enlightening users on its advantages. Only then will the asset gain more adoption.