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Bitcoin is Expensive and Slow PayPal, Roger Ver Says

Sat, 01/04/2020 - 16:00
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Vladislav Sopov
Another day, another rage-filled anti-Bitcoin tirade by Roger Ver. Today 'BTC Jesus' has criticized consensus itself, Bitcoin layer-two solutions as well as its usage.
Bitcoin is Expensive and Slow PayPal, Roger Ver Says
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Crypto entrepreneur and investor Roger Ver, who had been known as one of the first Bitcoin promoters, now promotes Bitcoin Cash, the most popular fork of number one blockchain. So he never misses an opportunity to blow his former camp to smithereens.

Expensive and Risky

Yesterday Mr. Ver tried to sum up his criticism in a few paragraphs. High costs and low speed of Bitcoin transactions are the most irritating Bitcoin features for him.

Moreover, he called Bitcoin transactions 'unreliable' and 'reversible'. According to him, Bitcoin is subject to severe centralization and therefore is controlled by greedy developers.

Roger Ver Claims Bitcoin Is Not Censorship-Resistant. Here's Why

Layer Two? That's Not An Option!

'Bitcoin Jesus' also bashed the advocates of Bitcoin-based layer-two solutions. It looks like he hints on Lightning Network, popular side-chain protocol utilized to unload Bitcoin's main blockchain by processing some data off-chain.

Lightning Network Reaches Its Peak Capacity in April

Mr. Ver called this solution expensive, sophisticated and risky. For him, existing of L2 solutions for Bitcoin can be operated only by the holders of degrees in computer science. 

Finally, he called 'risky, expensive and slow' network 'same as PayPal, one more time highlighting its centralized and whale-dominated nature.

Do you agree with Bitcoin's criticism by Roger Ver? Tell us in the comments.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)