Roger Ver has very recently gained additional notoriety and a new wave of criticism for his support for the Bitcoin fork known as Bitcoin Cash, while also utilizing the Bitcoin.com domain to promote this currency. Some of this criticism may not come unwarranted, considering that he and other prominent Bitcoin Cash supporters may confuse newcomers to cryptocurrency with their insistence that the currency that goes by the ticker symbol BCH is Satoshi Nakamoto’s original vision for the Bitcoin project.
Bitcoin.com ICO Considered, But Could It Trigger a Site Redesign?
In a new video in which Roger Ver discusses the future of Bitcoin Cash, touting the new Wormhole Cash protocol, which will enable the creation of tokens using Bitcoin Cash as a platform. He described the new development in the following statement:
“For better or worse, ICOs and CryptoKitties are probably coming to Bitcoin Cash in the near future.”
Ver has also indicated that he is currently considering an ICO for his website, Bitcoin.com, which has been a major part of the Bitcoin Cash controversy over the past year. The Bitcoin.com wallet, for instance, doubles as a Bitcoin Cash and Bitcoin (Core) wallet. The so-called “Bitcoin jesus” was not very specific about the entire point of raising funds with an ICO beyond the possibility of tying it into the site’s games somehow:
“We’ve been thinking about having our own ICO for maybe the games part of the platform; maybe we’ll issue a token and pay dividends or use part of the money… to buy back the tokens on the open market.”
If Roger Ver chooses to go through with an ICO along these lines, it may change the entire purpose and design of Bitcoin.com from an informational and news site that incidentally has games, to a games site that incidentally has information and news. This may disappoint some frequent followers who aren’t into gambling, already have their favorite cryptocurrency gambling site and only visit Bitcoin.com occasionally for news, or reside in a nation such as the U.S. where online gambling has been deemed illegal.
Bitcoin Cash Losses May Be Factor
Like many cryptocurrencies, the Bitcoin Cash price has been seeing a lot of red lately. This has led to speculation that businesses that are closely tied to Bitcoin Cash are looking for investor capital as a way to make up for losses tied to their investment in BCH.
Not very long after Bitmain announced an IPO with the goal of raising upwards of $18 billion, for instance, its released financials revealed that it held more than one million Bitcoin Cash as of March 2018. On the flip side, Bitmain has reportedly had difficulty selling its Bitcoin mining rigs, the most recent of which is a two-year-old ASIC model.
Roger Ver is more likely to be considering an ICO for Bitcoin.com due to the bearish cryptocurrency market that has been especially rough on altcoins like Bitcoin Cash. Bitcoin.com does not appear to rely on advertising very much, which indicates that the games and news are its main source of revenue. This makes it more likely that Roger Ver is considering an ICO because his losses in Bitcoin Cash might be temporary (or not), but still hurts.
Just don’t expect him to admit it.