Roger Ver, early Bitcoin (BTC⬇️$27,073) investor and a passionate Bitcoin Cash (BCH⬇️$112) proponent, boldly suggests that Ethereum will be the torchbearer, guiding an influx of new users into the realm of cryptocurrency, not Bitcoin.
In an episode of the “Show Me The Crypto” podcast dated May 31, Ver – fondly dubbed ‘Crypto Messiah’ for his early Bitcoin endorsement – emphasized that, despite Ethereum’s scaling predicaments and a surge of “clone” layer-one platforms trailing behind, Ethereum’s sphere remains the epicenter of all crypto happenings:
“While Ethereum may not boast the largest market cap compared to Bitcoin, I believe it’s unquestionably in the pole position when it comes to driving global adoption,” said Ver.
He applauded the emergence of Ethereum Virtual Machine-compatible (EVM) blockchains and layer-2 scaling solutions like Polygon (MATIC⬇️$0.8866), which are designed to shoulder some of the burdens of the primary chain.
Ver delves into the “civil war” that ensued during Bitcoin’s early days, involving Ethereum co-founder Vitalik Buterin and Bitcoin core developers.
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A divergence in views over the implementation of smart contracts and a departure from the notion of using blockchains solely as a currency or store of value eventually propelled Buterin to bring Ethereum to life.
Ver commented: “All these advancements would have been built on Bitcoin if not for the scaling civil war. The Bitcoin core developers have a strong disdain for Vitalik, effectively forcing him away from the project to create Ethereum. More power to him for that.”
Ver also commented on the recent controversy around Ledger, expressing disappointment in the contentious Recover service. This service allows users to store their encrypted seed phrase with third-party custodians as a safety measure against loss. He argued that while it’s acceptable for individuals to have custodial accounts and choose to recover their keys, the ethos of crypto fundamentally lies in maintaining full ownership of your assets at all times.
Related: Hybrid rollups – Ethereum’s Secret Weapon for Achieving Scalability and Security 🔐⚡️
In January, Ver was legally pursued by a trading subsidiary of the crypto lending firm Genesis for a default of approximately $20.8 million in unsettled crypto options.
In a January Reddit post, Ver defended his position, claiming that he had “ample funds” to settle the debt but argued that he was not legally obligated to fulfil his part of the agreement due to Genesis’s insolvency.
Last year, allegations of Ver defaulting on a debt were headlines. CoinFLEX’s CEO Mark Lamb claimed that Ver owed the company $47 million in USD Coin (USDC💲1.00) according to a written agreement. On June 28, Ver refuted these accusations without directly naming the company.