Say what you like about Roger Ver, but he certainly doesnt suffer from false modesty. The founder of Bitcoin.com recently took to YouTube with a series of short videos about his young life, early business forays, and eventual shift from evangelizing for Bitcoin to his now-favorite cryptocurrency, Bitcoin Cash.
The video series is an enlightening testament to free trade and an illustration of market principles, and we recommend it to anyone who wants to understand the role of Bitcoin in the cryptocurrency market. Especially Roger Ver.
Beginning the video series, Ver shares about his childhood inspiration and recognition of free market principles. He saw the problems of inflation in a rigged economy at an early age when his fifth grade teacher, presumably named Lindy, issued Lindy Land Dollars to motivate students to carry out tasks around the classroom.
A young Ver saw opportunities to take advantage of the flawed currency system, explaining that many students did not understand that the actual exchange rate from a Lindy Land dollar to USD was maybe 50 to 1.
Kids would bring in cookies or Rice Krispie treats and sell them for one Lindy Land dollar a bargain when compared to their value in USD. Ver laughingly explains how he bought up all the treats and cornered the market, after which he jacked up prices.
It was a fun learning experience, Ver says, until Lindy Land began suffering from hyperinflation. Despite recognizing the economic problem, Ver overlooked the fact that he himself was instrumental in monopolizing the market, taking advantage of naive classmates to make a quick buck.
You have to give Ver credit, though he certainly demonstrated an entrepreneurial spirit from an early age. In junior high, he made 20 or 30 dollars a week selling candy bars to classmates for profit after picking them up at Costco at bulk prices. For a junior high school kid, that was a lot of moneyVer says.
But business really took off when young Roger got into computer sales. Ver bought a mass order of hard drives on the cheap, knowing he could turn around and sell them at quadruple the price to other buyers. Selling the equipment on eBay, he made $4,000 in his first week. Thats when he realized he was on to something, dropped out of college, and started his computer parts ordering business.
Vers adage throughout his business career was to take a product from where theyre worth less and move them to where theyre worth more. He shares numerous examples of moving products from one market where they are cheap to another market where they are more expensive, including the sales of Beanie Babies and other miscellaneous goods.
I can buy them over here where theyre worth less and sell them over here where theyre worth more, Ver explains. He applied this profit-making principle to a wide variety of goods. Business was booming, until he tried the same sales strategy with firecrackers.
Ver experienced a devastating setback when he was arrested and imprisoned for the illegal sale of fireworks. It was a sad day letting go of his staff, Ver said. His mother helped keep the business running during his time in prison.
Not to be defeated, Ver got back to the grind, even managing to make a few business deals while in prison by making phone calls between buyers, sellers, and his mother. He learned of the many specialized jobs in the secret prison economy.
It was against the rules to trade, but the prisoners found ways to make it happen anyway.[I]f we werent able to trade with each other, Ver says, prison would have been much more difficult.
The prison economy helped Ver to see the function of money and why Bitcoin could work. When Bitcoin came along, I knew I knew people were gonna start using it as money, Ver says.
This is the part most viewers are waiting for. Ver digs into the flaws of Bitcoin (BTC) as opposed to Bitcoin Cash, saying that the notion of acting as a store of value without also being usable as cash is nonsense. He promotes Bitcoin Cash as being superior, as it genuinely meets the descriptor of peer-to-peer electronic cash, and is useful in commerce, he says.
Bitcoin Cash thus has greater utility and therefore more value as money, Ver says. Bitcoin needs to be fast, cheap and reliable, if we want people to use this as money and sadly my side of the argument lost out.
Congratulations, guys, Ver adds sarcastically, You made Bitcoin slow, expensive and unreliable in commerce.
This is where Ver arrives at a contradiction. Throughout the videos, Ver promotes the ideals and principles of free trade, without interference or control from outside forces. Yet, he is not willing to accept that the free market is already at work, in the fall of Bitcoin Cash and the rise of Bitcoin dominance.
The free market has plainly and unemotionally decided that it wants more Bitcoin and less Bitcoin Cash. No matter how much Ver insists that Bitcoin Cash is the superior solution, the free market has chosen otherwise.
source: CoinMarketCap
In the early stages of the Bitcoin Cash fork, markets struggled to decide on the superior technology, and prices indicated that many felt Bitcoin Cash might be the better option. At one point, BCH traded for thousands of dollars.
Over the course of time, however, it has become more clear that the market prefers Bitcoin (BTC) which is now trading steadily around $10,000 USD. Bitcoin Cash has lost the free market battle. And the free market is the only force that gets to decide.
Perhaps Ver is simply up to his old tricks, taking advantage of ignorant buyers with clever sales tactics. He brags repeatedly about past successes, in which he exploited irrational markets, and preyed on the ignorance of buyers to garner a profit. Is the Bitcoin Cash sales ploy any different?
Follow this link:
Cryptos Free Market Obeys Nobody, Not Even Roger Ver - Crypto Briefing
- Roger Ver helps raise $87k for an anti-war charity - Dowbit - February 6th, 2018 [February 6th, 2018]
- Roger Ver Confirms He'll Sell His Bitcoin: 130K BTU Trade a ... - February 6th, 2018 [February 6th, 2018]
- Tezos Sued again and Roger Ver Tantrums: Best of the Week - February 6th, 2018 [February 6th, 2018]
- Roger Ver Says Ethereum May Overtake Bitcoin in Market Cap - March 10th, 2018 [March 10th, 2018]
- Bitcoin.com CEO Roger Ver Downplays Alleged Insider Trading ... - March 10th, 2018 [March 10th, 2018]
- Bitcoin Cash News: Visa Debit Card for Bitcoin Cash ... - March 20th, 2018 [March 20th, 2018]
- Roger Ver Tweets in Support of Insider Trading Following ... - April 5th, 2018 [April 5th, 2018]
- Evidence Emerges of CNBC Collusion with Roger Ver, BCash - June 3rd, 2018 [June 3rd, 2018]
- Roger Ver on 'the Flippening': Ethereum Will Upstage ... - June 5th, 2018 [June 5th, 2018]
- Roger Ver: "Ethereum Will Overtake Bitcoin in Market Cap" - June 5th, 2018 [June 5th, 2018]
- MPC60 Software - Roger Linn - June 15th, 2018 [June 15th, 2018]
- Roger Ver lawsuit - bitcoinist.com - June 15th, 2018 [June 15th, 2018]
- voluntaryist.com - Roger Ver - June 22nd, 2018 [June 22nd, 2018]
- There Could be a New Crypto-King: Ethereum - Roger Ver ... - June 22nd, 2018 [June 22nd, 2018]
- Penrose process - Wikipedia - June 28th, 2018 [June 28th, 2018]
- Roger Ver: Bitcoin Cash is a Better Investment Than ... - October 2nd, 2018 [October 2nd, 2018]
- Roger Ver | Facebook - October 11th, 2018 [October 11th, 2018]
- Roger Ver Debates Charlie Lee - The Lightning Network - October 11th, 2018 [October 11th, 2018]
- PR: Roger Ver Joins Azbit Crypto Exchange Advisory Board ... - October 18th, 2018 [October 18th, 2018]
- Roger Ver joins Azbit exchange as Advisor - bcfocus.com - October 18th, 2018 [October 18th, 2018]
- Bitcoin Jesus | Bitcoin Cash | whoisrogerver.com - October 18th, 2018 [October 18th, 2018]
- Roger Ver yells that "there is no God" in Blockchain Cruise ... - October 18th, 2018 [October 18th, 2018]
- Roger Ver Is Criticized for Cripple Coin Comment by BCH ... - January 26th, 2019 [January 26th, 2019]
- Bitcoin Cash Hard Fork Controversy: Roger Ver vs. Craig Wright - January 26th, 2019 [January 26th, 2019]
- Roger Ver Now 'Pretty Damn Skeptical' of Craig Wright Being ... - January 26th, 2019 [January 26th, 2019]
- Roger Ver and Richard Heart Bitcoin debate. - January 26th, 2019 [January 26th, 2019]
- Bitmain, Roger Ver, Kraken Sued as Bitcoin Cash Nightmare ... - January 26th, 2019 [January 26th, 2019]
- Roger Ver Promotes Bitcoin Cash On CNBC's Fast Money - UNHASHED - January 26th, 2019 [January 26th, 2019]
- Roger Ver: Maybe Ive Been Fooled by Craig Wright - January 26th, 2019 [January 26th, 2019]
- Roger Ver: Fake social media accounts using my name have ... - January 26th, 2019 [January 26th, 2019]
- MPC60 Software - Roger Linn Design - February 6th, 2019 [February 6th, 2019]
- About Us Bitcoin.com - March 3rd, 2019 [March 3rd, 2019]
- FreeSociety - April 21st, 2019 [April 21st, 2019]
- HTC has partnered with Bitcoin.com for cryptocurrency support in - NewsAffinity - September 19th, 2019 [September 19th, 2019]
- Bitopia Launches First-Ever Crypto Robo-Advisory! - newsBTC - September 19th, 2019 [September 19th, 2019]
- Bitcoin {BTC} targets $10k as Chaincode Labs circulates Lightning Network Protocol Development Curriculum - OBN - September 19th, 2019 [September 19th, 2019]
- SIGEF2019 in Tokyo to Shape a Smarter Future - Yahoo Finance - September 19th, 2019 [September 19th, 2019]
- Bitcoin(dot)com Crypto Exchange Posts Dishonest Volumes - Bitcoinist - September 19th, 2019 [September 19th, 2019]
- PayPal Casts Doubt On Libra: Claims Facebook Crypto Still Needs Work - Blockonomi - September 19th, 2019 [September 19th, 2019]
- Bitcoin Cash Futures Expected to Open up US Market by Q1 2020 - Bitcoin News - September 19th, 2019 [September 19th, 2019]
- Liven Announces Strategic Partnership with Bitcoin.com - Bitcoin News - September 19th, 2019 [September 19th, 2019]
- Thousands of Aussie restaurants will soon accept Bitcoin Cash - Micky News - September 19th, 2019 [September 19th, 2019]
- HTC partners with Bitcoin.com to support cryptocurrency smartphone Exodus 1 - VentureBeat - September 19th, 2019 [September 19th, 2019]
- Craig Wright enters settlement talks in $10 billion Bitcoin lawsuit - Yahoo Finance - September 19th, 2019 [September 19th, 2019]
- Roger Vers Next Big Step: Bitcoin.com Unveils Its Own Cryptocurrency Exchange - CryptoNewsZ - September 19th, 2019 [September 19th, 2019]
- Roger Ver Wants To Pay You To Trade On His New Bitcoin.com Exchange - Benzinga - September 19th, 2019 [September 19th, 2019]
- Roger Ver plans to launch Bitcoin Cash derivatives platform - Yahoo Finance - September 19th, 2019 [September 19th, 2019]
- Bitcoin Jesus uploads new video via Bitcoin.coms official channel, showcases the slow speed linked to Bitcoin Core transactions - OBN - October 1st, 2019 [October 1st, 2019]
- The CEO of ShapeShift.com examines the pessimism prevailing in the cryptosphere - OBN - October 5th, 2019 [October 5th, 2019]
- Malta AI & Blockchain Summit looks to shape the future - Times of Malta - October 5th, 2019 [October 5th, 2019]
- Bitcoin Cash {BCH} shoots back up; Roger Ver of Bitcoin.com harps on the necessity of fundamentals - OBN - October 5th, 2019 [October 5th, 2019]
- Twitter handle associated with Bitcoin {BTC} ridicules Roger Ver, faces flak from the community - OBN - October 5th, 2019 [October 5th, 2019]
- Executive exodus from Blockchain.com started in 2014 with Binance CEO - Decrypt - October 5th, 2019 [October 5th, 2019]
- GRUDGE MATCH: 'Dr Doom' goes head to head with Roger Ver - Micky News - October 5th, 2019 [October 5th, 2019]
- Bitcoin Price Could Be Headed Further Down, Forbes Analyst Says - U.Today - October 16th, 2019 [October 16th, 2019]
- Central Bank Cryptocurrency Can Arrive Faster Than You Think: ING Chief - U.Today - October 16th, 2019 [October 16th, 2019]
- Bitcoin Price Prints Massive Red Candle After Failing to Break Above Key Resistance Level - U.Today - October 16th, 2019 [October 16th, 2019]
- Weekly Wrap-Up October 18th, 2019 - TheNews.Asia - October 19th, 2019 [October 19th, 2019]
- Driving the decentralized revolution; Devcon 5 - Cryptopolitan - October 19th, 2019 [October 19th, 2019]
- Ethereum is fantastic as an ICO platform: Bitcoin Cashs Roger Ver - AMBCrypto - October 19th, 2019 [October 19th, 2019]
- BREAKING: Roger Ver clashes with Nouriel Roubini in heated debate - Yahoo Finance - October 19th, 2019 [October 19th, 2019]
- Binance announces listing of BCH-pegged tokens on Binance Chain - AMBCrypto - October 24th, 2019 [October 24th, 2019]
- BTC, BSV, BCH Update, HOT and NEW See Gains, Oct. 21 Bitcoin is stable and still - Bitrates - October 24th, 2019 [October 24th, 2019]
- Sunday Digest: Bitcoin Price And The Week's Top Stories - Bitcoinist - October 24th, 2019 [October 24th, 2019]
- Bitcoin (BTC) Price Breaks Above $8,200 While Bitcoin Cash (BCH) and Bitcoin SV (BSV) Post Even Higher Gains - U.Today - October 24th, 2019 [October 24th, 2019]
- Lightning Network User Confused By Protocol: Lost 30000 USD - Bitcoin News - October 24th, 2019 [October 24th, 2019]
- Roger Ver Claims Bitcoin Is Not Censorship-Resistant. Here's Why - U.Today - November 11th, 2019 [November 11th, 2019]
- Roger Ver Apparently Thinks Bitcoin Cash Value Could Increase 100,000% - Cointelegraph - November 11th, 2019 [November 11th, 2019]
- Manipulations, Turns, Exchanges and 20 Crypto Jokes - Cryptonews - November 13th, 2019 [November 13th, 2019]
- Bitcoin Money's Q3 efficiency became terrifying right here's what occurred - 101Newsindustry - November 13th, 2019 [November 13th, 2019]
- The origins of Bitcoin: BTC deviates from Bitcoin protocol - CoinGeek - November 18th, 2019 [November 18th, 2019]
- Who are the Main People in Bitcoin? - BlockPublisher - November 18th, 2019 [November 18th, 2019]
- Video: Bruce Fenton on the Bitcoin Foundation, Satoshi Roundtable... - Bitcoin Magazine - November 25th, 2019 [November 25th, 2019]
- Learn about Bitcoin before your grandmother does - Yahoo Finance - November 25th, 2019 [November 25th, 2019]
- Crypto Fans Often Clash on Twitter Now, They Can Battle in a Game - Cointelegraph - November 25th, 2019 [November 25th, 2019]
- 'Bitcoin Jesus' Roger Ver Supports Arrested Ethereum Dev, Calvin Ayre Accuses Him of Treason - U.Today - December 1st, 2019 [December 1st, 2019]
- A Tale of Three Coins: The Ongoing Saga of BTC, BCH and BSV - Finance Magnates - December 13th, 2019 [December 13th, 2019]
- Bitcoin Cash will go up post-halving, claims Roger Ver - AMBCrypto - December 13th, 2019 [December 13th, 2019]
- CoinFlex hires former Binance head of trading as its new CSO. - Coinnounce - December 21st, 2019 [December 21st, 2019]
- Bitcoin Cash (BCH) is here to stay: Sydney Ifergan - The Cryptocurrency Analytics - December 21st, 2019 [December 21st, 2019]