Roger Ver of Bitcoin.com: True Economic Freedom
For those who are viewers. Who for some reason. Don't know who you are. You wanna give a quick background kind of who you are and how you got into blood. Sure i was much younger. when i got into blockchain. it's been ten years now. But basically i was the first person that had any sort of capital to get excited about this base. I had my own business in silicon valley heard about. Bitcoin dropped everything to start focusing on that. And so i basically funded the entire first generation of bitcoin businesses and back and it was only bitcoin crypto currency was just bitcoin and bitcoin wallet some bitcoin exchanges and so these are companies. That people would have heard of today like a bit pay and cracking in blockchain dot com personnel. Of course then. A lot of people don't know it. I was actually a second person ever involved in in ripple as well so jed michaela came up with the idea and then approached me said he said he said. I think bitcoin mining waste what we can make. It does require mining. Are you willing to fund to make that happen. So i said sure. Let's give that a try. So actually i helped start ripple as well and then a number of other crypto currencies out there and i've been involved in the space a fulltime for almost exactly a decade. Now well. I mean those. That is a great groundfloor. The list of groundfloor is to get in on. I mean people. Talk about warren buffett. I think you might be warren buffett two point in terms of you just get getting great investment. So kudos to you. But if if we're gonna be talking you know right now we got to mention you know you've always been a strong proponent of bitcoin cash andy idea of bitcoin being electronic peer to peer network or peer to peer cash network but the network recently underwent a hard fork was over a mining tax of eight percent essentially a bitcoin. Abc wanted to tax the miners eight percent and and put it into a development fund You were against that and you're actually won by quite a large margin. Talk us through a little bit. Why you're against de-mining tax and kind of get much pushback. I mean it seems like it was overwhelmingly the bitcoin cash amini sided with you in this matter. Yea i initially had a pretty open mind about it. And then i don't think so much. The problem with diverting and there certainly was a problem with it but the minor the only a small part of the problem was diverting part of the block reward to pay for development within the ecosystem. The big part of the problem is who decides. And how did the town. And there wasn't any sort of way to figure that out and that was a real big problem. I think and it just was going to lead to a never ending amount of infighting and the money was gonna wind up going to those the most effective at political lobbying rather than those that we're building the most effective platforms to bring more economic freedom and to the world and more peer to peer trash useful things to the world and i think an example of that is bitcoin dot com and arguably has done a huge amount to bring more people to to crypto currency and bitcoin cash specifically than just about any other website yet. These developers are saying about dot com. Shouldn't get any money. They have the most money already. They don't need it. Well the fact that we already have a bunch of money shows that we've been effective with the resources that we've had available and so that's the problem with with government entities if the government entity does a bad job. They get more money. If a private business does a bad job they get less money and they go out of business. Those resources wind up being allocated people that use it more effectively and was basically bringing central planning in socialism to bitcoin. Cash in the entire point of cryptocurrencies. Let people opt out of those cyncially command in control. The economic systems allow people to be able to do whatever they want with their own money. And so i think it was a really bad idea and it was sad that caused infighting within the cryptocurrency community and the really shocking part. Is that the people that were in favor of this central planning in central diversion of part of the block reward within trying to call the people that were opposed to it. The you know the central planners bitch was the name that they came up with which was a play on bitcoin in bolsheviks i guess but it just seems really strange that People think that that's a good thing but at the end of the day. And i've been saying this since two thousand eleven if something better than bitcoin comes along great if something better than bitcoin cash comes. I'm to promote whatever option. I think has the best chance of bring more economic freedom to the entire world. And that's why i'm so bullish about bitcoin cash as it works for super fast super cheap super liable payments for every single person on the planet. Whether you're young or old rich or poor black or white. It works for everybody right now today. You don't have to wait for some other future. Technology come into existence. Bitcoin cash works today. And that's what has me so excited about it.