In a Cointelegraph unique interview, Roger Ver bears all of it ‒ how his jail expertise made him see Bitcoin’s potential, why Bitcoin Money (BCH) is healthier than Bitcoin (BTC), and why Bitcoin Money will admire 1,00zero instances.
Many of the crypto group is aware of that, in his youth, Roger Ver had run-ins with the regulation; in reality, he was sentenced to 10 months for promoting explosives on eBay.
Nevertheless, not many know that this expertise not solely offered Ver with ample time for studying, but in addition allowed him to watch how in a carefully managed atmosphere, “commodities” like tobacco, stamps, and noodles develop into mediums of alternate:
“So once I noticed the jail economic system and the way individuals had been shopping for and promoting issues and the way issues simply naturally grew to become used as cash in jail, it validated what I had examine theoretically within the economics books as to what the origin of cash was.”
BCH will go up in worth 1,00zero instances
Ver is unabashedly optimistic concerning the prospects of BCH: “Bitcoin Money may doubtlessly go up 500 or a 1000 instances from the place it’s in the present day. I do not suppose BTC is ever going to go up.” Ver believes that Bitcoin “dedicated financial suicide” when it refused to extend its block measurement. He additionally claims, pointing to Bitcoin:
“There’s nothing that may ever be used as a retailer of worth that does not have a secondary use case. It simply plain would not exist in the whole world. I do not suppose anyone can consider an asset that is solely use case as a retailer worth. It would not exist.”
If you wish to know why Roger Ver was referred to as “The Harmful One” in jail, watch the total interview.
“The Harmful One”
In Jail, Ver’s nickname was “El Peligroso” which interprets as “The Harmful One”… Nevertheless, this wasn’t a testomony to how badass Ver was, however extra of an irony – “I simply stayed in my mattress all day on daily basis studying books, and I hardly left my bunk mattress in any respect.”
[00:01:09-00:01:15] When Bitcoin got here alongside, I believed, oh, I higher promote my Lamborghini to purchase extra Bitcoin. And that is precisely what I did. I went the reverse route.
[00:03:19-00:03:26] So earlier than I went to jail, I might spent loads of time finding out economics books since notably the origin of cash and the way one thing comes for use as cash.
[00:03:39-00:03:53] In jail, all people is utilizing tobacco as cash as a result of you possibly can smoke it. They’re utilizing prime ramen soups as cash as a result of you possibly can eat it, utilizing postage stamps as cash, as a result of you possibly can mail issues with it. All of these items have these further use circumstances outdoors of simply being a retailer of worth.
[00:03:53-00:04:05] So once I noticed the jail economic system and the way individuals had been shopping for and promoting issues and the way issues simply naturally grew to become used as cash in jail, it validated what I had examine theoretically within the economics books as to what the origin of cash was.
[00:04:57-00:05:18] Yeah, lots of people do not realize it, fortunately, as a result of they’ve by no means been to jail. However in jail, there’s simply this huge inner jail economic system the place individuals are doing something and the whole lot to earn cash and serve their fellow males. So the whole lot from cooking for one another, doing one another’s laundry, shining sneakers, you understand, even prostitution providers like something and the whole lot is occurring.
[00:06:47-00:07:15] Yeah. So for people who do not communicate Spanish, my nickname in jail was El Peligroso, which implies “The Harmful One”. However it was simply extra of a joke than something, as a result of all I did on a regular basis in jail is I as soon as I discovered how issues work, I used to be capable of pay anyone else to do my job inside the jail. And I simply stayed in my mattress all day on a regular basis studying books, and I hardly left my bunk mattress in any respect. I simply stayed in mattress studying books all day, on daily basis. So it was only a joke as a result of at that time I in all probability weighed possibly 120 kilos or one thing like that.
[00:09:48-00:09:54] Bitcoin Money proper now, in the present day is the second most used cryptocurrency in the whole world behind solely the BTC model of Bitcoin.
[00:10:04-00:10:11] Bitcoin Money may doubtlessly go up 500 or a 1000 instances from the place it’s in the present day. I do not suppose BTC is ever going to go up.
Fusion is wonderful. If individuals have not appeared on the money fusion but, it is implausible. It’ll make bitcoin money simply as non-public in the identical ballpark of privateness stage as one thing like a Monaro or Z money.
Bitcoin money has extra usefulness in commerce than bitcoin, and I believe the day will come when the value will mirror that as a result of bitcoin money worth will likely be increased than the BTC model of bitcoin worth.
I do not suppose that that is a a wild factor to say. I believe that that is that is the long run. As a result of when bitcoin restricted its block house, it restricted its usefulness, its commerce, its restricted censorship resistance, it restricted its means to be adopted by individuals all over the world. It mainly dedicated financial suicide or first mover benefit suicide and for me is among the largest holders of bitcoin in the whole world and the proprietor of bitcoin dot com.
There’s nothing that may ever be used as a retailer of worth that does not have a secondary use case. It simply plain would not exist in the whole world. I do not suppose anyone can consider an asset that is solely use case as a retailer worth. It would not exist.