Tag: roger ver

Ethereum is an Ideal ICO Platform, Asserts Roger Ver

During the annual Devcon 5 conference for Ethereum, Roger Ver, a proponent of Bitcoin Cash, noted that initial coin offerings (ICOs) were experiencing a dormant trend despite their fundamentality in connecting investors and entrepreneurs across the globe. 

However, he acknowledged that Ethereum could come in handy in eradicating this challenge because it offers a fantastic ICO platform.

Ver stipulated, “Ethereum is fantastic as an ICO platform. If people want to have an ICO today, Ethereum is a fantastic platform to do it on because you have all this infrastructure already in place.”

He also acknowledged that decentralized finance or DeFi was emerging as a popular platform in the crypto-space. This can be depicted by the actuality that the decentralized applications (dApp) market is worth $500 million. 

Additionally, Ver proclaimed that the functionality of ERC-20 tokens or Ethereum in DeFi was exceptional. Nevertheless, if Bitcoin Cash was incorporated into the DeFi ecosystem, optimal results could be inevitable. 

Ver stated, “you can now make Bitcoin Cash tokens, send them to anyone, anywhere in the world, and then pay dividends directly on-chain to every token holder with whatever address and whatever country they are present in.”

Ver’s notion was that Ethereum could come in handy in revamping the ICO sector. 

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How to Buy Bitcoin Cash in South Korea: Bitcoin.com and Mecon Cash Will Enable BCH Withdrawals at ATMs

A strategic partnership between Bitcoin.com and Mecon Cash made it possible for Bitcoin Cash to be added to Mecon Cash’s M.Pay platform which has over 13,000 ATMs in South Korea, thereby making the withdrawal of BCH to South Korea nationals easy especially in places that are yet to integrate peer-to-peer electronic cash transactions.

Bitcoin.com Executive Chairman, Roger Ver explained in a statement saying, “Mecon Cash is enabling Bitcoin Cash to be used at 13,700 ATM locations across Korea. Bitcoin.com is proud to be working with Mecon to help bring Bitcoin Cash and Mecon Cash to Korea and the world.” Bitcoin.com’s mission to bring economic freedom to the world and thus, it keeps supporting and promoting the global adoption of BCH as P2P electronic money.

The service being provided by this collaboration is meant to serve crypto holders who are in need of quick cash. It is also meant to help people who transfer more than $6 billion in remittances to Korea from other countries on a yearly basis.

This partnership will also increase Bitcoin Cash adoption as Mecon Cash also has other services other than payment options. Mecon Cash operates an e-commerce platform that allows users to buy a wide range of products, known as the Mecon Mall. It also has mobile games that make use of  M.Pay for rewards.

Jo Jae Do, Chairman of Mecon Cash stated, “Through our partnership with Bitcoin.com, we will grow the presence of Bitcoin Cash throughout the Korean market starting with the ATM withdrawal services. We have huge applications coming up where the close collaboration between Mecon Cash and Bitcoin.com will see positive synergies in the upcoming future not only in the Korean market but also in the global market.”

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Tether's Blockchain Ecosystem Continues to Grow with USDT Launch on Bitcoin Cash Network

Tether’s USDT token, the world’s largest stablecoin by marketcap, has launched on the Bitcoin Cash network.

As the Coronavirus disruption has taken hold of the markets, it appears that people are not turning to either Bitcoin or Gold in the face of the crisis but cold hard cash and their digital alternatives. Tether in particular has seen a surge of interest and its stablecoin, USDT, currently has a market cap of over $5.7 billion and over $180 million in new tokens have been created over the last few days.

USDT is available on the Bitcoin Cash network via the Simple Ledger Protocol (SLP) which is BCH’s token conceptually similar to Etheruem’s ERC20. USDT is also available on Algorand, EOS, Tron, Omni and the Liquid Network.

The SLP protocol allows anyone to create tokens on the Bitcoin Cash network in a permissionless way. The majority of Tether token run on Ethereum and a moving a significant proportion to the Bitcoin Cash network , which has larger blocks and lower fees than bitcoin itself, may help reduce demand on the Ethereum network and lower gas fees.

“A key strength of Tether is that it is underpinned by a rich diversity of different blockchains,” said Paolo Ardoino, CTO at Tether. “Our latest collaboration with Bitcoin Cash will provide Tether with a variety of benefits. We expect the adoption after launch to be pretty easy for any integrator. The launch will also support more applications on the Bitcoin Cash chain, with Tether facilitating payment for these applications.”

Bitcoin Cash Wallet Upgrade

Bitcoin Cash’s Bitcoin,com recent wallet upgrade supports its users in accessing SLP tokens and now USDT as well.

“It’s extremely exciting to hear that the world’s biggest stablecoin will be using the Bitcoin Cash Blockchain and that the millions of Bitcoin.com wallet holders will be able to send and receive Tether using SLP tokens,” said Roger Ver, Executive Chairman of Bitcoin.com.

With built-in token management support, users can send, receive, and store a variety of tokens that represent anything from dollar-pegged stablecoins to virtual gaming assets and company loyalty points, with the private keys held only by the user.

USDT hosted by different platforms

Tether has emerged as a behemoth in the stablecoin arena as it is the most utilized by traders on market capitalization and has existing partnerships with other platforms, such as Tron, Omni, EOS, Ethereum, and the Liquid Network.

Prior to the Bitcoin Cash announcement, Algorand became the latest platform to host USDT, and its users will be able to access it using high scalability and speed. For instance, it has been revealed that Tether’s presence on Algorand will see block confirmation undertaken in less than four seconds, and transaction fees will be a fraction of a cent, which optimizes blockchain opportunities for micropayments.

Tether’s  CTO, Paolo Ardoino, acknowledged, “Our collaboration with Algorand leverages the speed and security of Algorand’s protocol to give traders fast settlement and reduced counterparty risk in their fiat to digital asset transactions. Tether and Algorand both share a desire to keep building next-generation financial products, and we feel our growing customer base will appreciate and benefit greatly from this collaboration.”

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Purse.io Not Closed Just Yet, Will Bitcoin Jesus be the Bitcoin Startup's Saviour?

Purse.io may be getting a thrown a life line following their shock announcement last week that they would close their doors after six years of trying to bring serious utility to Bitcoin in retail services.

Eduardo Gomez, Support Manager for Purse.io took to Twitter to share the news that the loyal Purse userbase had been desperately hoping to hear. He wrote, “We are in serious talks to get acquired. Meaning that we will most likely live through this.”

This announcement of a possible acquisition was later confirmed in an official company post on April 23 which read, “ Several parties – including well known bitcoin advocates, high volume users, and established cryptocurrency companies – reached out with interest in acquiring purse.io.”

Mention of the well known Bitcoin advocate has led to speculation that Roger Ver, one of the projects original investors, may be getting involved. In a video posted on YouTube on 19 April, Ver said “Purse is too important for the ecosystem to let disappear. I don’t think it’s going to go anywhere.” Ver also mentioned he has been talking to Purse but so far there has been no concrete confirmation of the Bitcoin Cash king’s involvement.

Purse.io’s bitcoin service launched in 2014 and was slated to usher in mass adoption as it interacted with retail giant Amazon, matching gift card users with bitcoin and bitcoin cash investors. The Purse community has been in a state of shock since the intial announcment to close and it seems they are unwilling to go down without a fight.

Earning Digital Gold

Bringing Bitcoin to everyday consumers may now be more appealing than ever with the release of a new report from international news agency Bloomberg indicating that the COVID pandemic’s shake-out of the stock market may be accelerating Bitcoin’s maturation into a new kind of digital gold. 

Hong Kong Vending Machines Accept Bitcoin Cash not Bitcoin Boasts Roger Ver

Bitcoin Cash (BCH) advocate Roger Ver recently took to Twitter to share a video of a Hong Kong vending machine which accepts BCH and Ether as payment options but not Bitcoin.

In the video, Ver pointed to Bitcoin’s high fees and congested network as the reason it was likely omitted from the payment options. However, YouTube Bitcoin influencer Tone Vays and trader Willy Woo responded tweeting that it’s more likely Ver paid for Bitcoin’s exclusion.  

Roger Ver posted the video above of the Hong Kong vending machine transacting a BCH payment. He explained, “You’ll notice there’s Bitcoin Cash, Ethereum, Binance Coin and some other ones, but there is no Bitcoin at all because it’s been broken.”

Ver’s Beef With Bitcoin

Ver has been outspoken on the topic of fees and network speeds in Bitcoin and believes Bitcoin Cash to be a purer version of Satoshi Nakamoto’s original vision of the cryptocurrency. He has also very adamantly disapproved of the efforts of those seeking to solve Bitcoin’s scaling issue by other means than larger blocks on the Bitcoin blockchain—which developers of the Lightning and Liquid Networks have called a dead end.

Ver’s frustrations at the advocates of the Lightning Network—Bitcoin’s most notable scaling solution—came to the forefront at Deconomy 2018 during his famous Bitcoin scaling debate with Blockstream’s Samson Mow. Ver’s main arguement is that Bitcoin is not close enough to a practical digital cash and should be a payment system on its own, while Mow argues that Bitcoin is actually meant to be a settlement system to build scalable payment solutions upon. 

Tone Vays and Willy Woo Suspiscious of Roger Ver

One of the most popular traders in crypto and YouTube influencer, Tone Vays was not impressed by the video and suspects Ver may have paid for the Hong Kong vending machine to prefer BCH over BTC. Vays also questioned whether the Hong Kong vending machine had ever transacted in BCH since the demonstrative video.

Another popular crypto trader, Willy Woo admitted that his first inclination was to agree with Vays’ assessment. Woo claimed it was common for “lower tier altcoins to pay to get access to ATMS” and thinks the video raises red flags on centralization of the crypto space.

— Tone Vays – TheFinancialSummit.com (@ToneVays) May 30, 2020

Ver has reportedly denied any involvement with the Hong Kong vending machines choosing Bitcoin Cash over Bitcoin. 

CoinFlex to Allow Users to Withdraw up to 10% of their Balance

According to Bloomberg News, CoinFlex will allow users to later withdraw 10% of their balance after suspending withdrawals last month.

On June 29, CoinFlex CEO Mark Lamb revealed on Twitter that cryptocurrency investor Roger Ver owes the company $47 million. The Bitcoin.com founder failed to repay CoinFlex, and the crypto exchange suspended withdrawals in June.

CoinFlex canceled pending withdrawals on July 15 and then closed trading on the platform. After that, users can only withdraw up to 10% of their balance, and the rest will be frozen.

CoinFlex says it has taken legal action to cover losses and is trading with another cryptocurrency after a counterparty to cryptocurrency investor Roger Ver failed to pay a $47 million margin call, negotiating the signing of the joint venture.

The cryptocurrency exchange platform was founded in 2019. The company is a smaller crypto exchange focusing on derivatives trading. CoinFlex’s halt in withdrawals has come at a time when the crypto industry has been experiencing liquidity problems and contagion.

Earlier, Ver had tweeted, “Recently some rumors have been spreading that I have defaulted on a debt to a counter-party. These rumors are false. Ver denies he defaulted on his debt to CoinFlex.

CoinFlex said in July 14: “We are continuing to work on all avenues to resolve this situation. This ranges from possible further withdrawals and potential new equity investors to the acquisition of CoinFLEX and combinations in between.”

The company said it will release its latest update on July 22.

CoinFlex announced in late June that it planned to raise funds by issuing a new token that would offer a 20% annual return. The cryptocurrency exchange plans to issue $47 million in “recovery dollar” tokens as a solution to re-enable withdrawals.

Bitcoin Cash advocate Roger Ver sued for $20.8 million

An affiliate of the cryptocurrency loan company Genesis has filed a lawsuit against the Bitcoin Cash (BCH) supporter Roger Ver for unresolved crypto options totaling $20.8 million. In the lawsuit that was filed against Ver on January 23 in the New York State Supreme Court, GGC International, which was a part of the defunct crypto lender, claimed that the BCH proponent had failed to settle crypto options transactions that had expired on December 30. GGC International filed the suit on behalf of the bankrupt crypto lender.

A total of twenty days was allotted to Ver in order for her to respond to the summons.

In the event that the BCH advocate does not provide a response within the allotted length of time, he will be required to pay the whole sum by default.

As this article is being written, the proponent of BCH has not yet provided a response to the case.

According to information provided on the Genesis website, GGC International is a business that operates out of the British Virgin Islands.

Mark Lamb, the CEO of CoinFLEX, said that Ver was obligated to pay the company $47 million USD Coin (USDC) and that this obligation was stipulated in a written contract.

On June 28th, Ver also refuted these allegations while avoiding making direct reference to the corporation.

The cryptocurrency lender filed its petition for Chapter 11 bankruptcy in the Southern District of New York on January 20.

In order to advance the company’s operations, the company initiated a reorganisation that was overseen by the court.

A specialised committee will be in charge of the process, and their goal is to provide results that are satisfactory not just to Genesis customers but also to users of Gemini Earn.

In the meanwhile, creditors of Genesis have turned their attention to Digital Currency Group (DCG), the parent company of Genesis Global.

On January 24, creditors of Genesis filed a securities class action lawsuit against DCG and Barry Silbert, the company’s founder and chief executive officer.

The creditors asserted that the company had broken federal securities laws by selling unregistered securities, which they said was done in violation of the laws.

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