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Bitcoin Cash Price Has the Ability to Go Up 1,000 Times. Roger Ver Explains How

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Thu, 11/28/2019 - 06:14
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  • "Bitcoin Cash" Roger Ver believes that the price of Bitcoin Cash could increase exponentially

Cover image via rogerver.com
Contents

In an interview with CNBC's Melissa Lee, "Bitcoin Jesus" Roger Ver made a wild claim that the price of Bitcoin Cash could increase 1,000 times from where it is right now. Ver explained why BCH should be considered an amazing investment.      

"I think it has the ability to up 1,000 times from where it is, currently, because it's looking to become peer-to-peer electronic cash for the entire world, and it has more physical shops accepting it around the world, infrastructure is being built on top of it."  

Ver also claims that Bitcoin has the economic characteristics that made Bitcoin popular to begin with.

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On track to mass adoption

As reported by U.Today, Ver recently launched a $200 mln fund that is meant to propel the adoption of Bitcoin Cash. This money will go to supporting businesses around the globe that chose to accept BCH.       

He claims that HTC is now pre-installing their wallet in their smartphone, and he will have deals with other major brands.   

"We have other deals in the work with other household names just like that where you are going to see more Bitcoin Cash, Bitcoin.com wallets in brand-new devices shipping right there from brands known all around the world."

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Bitcoin Cash will stay

Lee states that China's clampdown on crypto proves that governments around the world could make it difficult to use crypto.

"The governments cannot shut down cryptocurrencies across the globe overnight. The can make it difficult but they cannot shut it down or stop it. That's the big difference."        

He further claims that the number of transactions recently went through the roof on one of their platforms with the majority of users being located in China. 

"As China's trying to clamp down on it, people are finding ways to circumvent those claims." 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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  • With COVID-19 being the main hellraiser for the last weeks within blockchain space, the BitMEX derivatives exchange has brought some good news about Bitcoin (BTC).

Cover image via stock.adobe.com
Contents

BitMEX Research, an analytics branch of the BitMEX crypto derivatives exchange ecosystem, attempted to figure out who are the most influential and productive Bitcoin (BTC) developers.

Blockstream and Lightning Labs are Most Generous

First of all, analysts at BitMEX research studied the funding of open source developers working on Bitcoin (BTC) or the Lightning Network, the second-layer scalability solution working atop the flagship blockchain. Below is the chart that includes only developers with known sources of funding:

Current funding of open source developers working on Bitcoin or Lightning – number of developers
Image by BitMEX Research

It looks like the Canada-based company Blockstream shares the first position with Lightning Labs Inc., which based in San Francisco. The later team recently raised $10 million in Series A financing from Slow Ventures, Ribbit Capital, and other private investors.

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Jack Dorsey's Square Crypto is in third place. The company is passionate about Lightning development as an on-board pseudonymous developer, which is well-known for its contribution to this infrastructure. 

Independent Devs on the March

In the second part of their research, the analysts tracked the GitHub committing activity in Bitcoin Core's repositories. Based on their research, it appears that the independent developers surpass their corporate competitors by a wide margin.

Current funding of top 33 Bitcoin Core contributors by number of commits
Image by BitMEX Research

These results allowed BitMEX Research to conclude that the Bitcoin (BTC) development ecosystem is the following:

is in a reasonably strong situation with respect to developer funding, based on metrics such as the distribution of funders and transparency. 

This is in comparison with the initial stage of Bitcoin (BTC) adoption in 2012-2014, when the Bitcoin Foundation was the one and only significant contributor.  Nowadays, diversity has brought funding sources, which in turn, has upgraded the decentralization and development process of Bitcoin (BTC) software. So, according to the researchers:

the situation is more healthy than it has been in the past

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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