The Road to a $1trillion Bitcoin market cap- Roger Ver

OK so tell us about this Jihan Wu
fellow he sounds like a James Bond supervillain or something yeah the
entire Bitcoin ecosystem owes a debt of gratitude to Jihan Lu Zhi Han Liu is the
CEO of bit main the most successful Bitcoin related business ever in the
entire history of the Bitcoin ecosystem it’s more successful than coinbase it’s
more successful than blockchain it’s more successful than Zappo or anybody
else out there so he started the most successful Bitcoin company in the entire
world that sells their Bitcoin miners to anyone anywhere in the world who wants
to buy them strongly supports and his degree is in economics right and he
understands that if you undermine the utility of Bitcoin and commerce you
undermine everything about Bitcoin and that’s why jihun wu has been so strongly
in favor of not undermining the usefulness of Bitcoin it’s very
interesting his mining company sells miners to anyone in the world who wants
to buy them bitfury the strongest mining company in support of Segway and core
they don’t sell their miners to anybody you have to have like a million
something bucks to buy any of their mining equipment they don’t sell their
minders to to home minors or hobbyists very very interesting and their mining
pool isn’t open to the public you can’t mine on their mining pool
whereas Jihan abit main his mining pools open to the public anybody combined on
it the majority of the house raid on his mining pool is just members of the
Bitcoin public so to try and demonize Bitcoin as a super villain is the exact
opposite Jihan has done more to help the Bitcoin community than just about
anybody so he’d consider him an honorable man
he’s a trustworthy honorable man then I haven’t had too many direct business
interactions with him but generally to grow a business of that size you have to
be a trustworthy honorable guy or people aren’t going to do business with you I
mean you’re big I mean when people want to talk about this I want to talk about
the your side they’re coming to you I mean you are synonymous with this
movement this block size thing I mean it’s there’s no doubt about it
you’re you’re you’re the guy I mean I would think that’s entirely fair no
there’s a huge huge number of people that are very very upset with bitcoins
usability as money being undermined and if Bitcoin has high fees and long
confirmation times and be due to the flow blocks that are intentionally being
advocated by Bitcoin corn core supporters they openly say the
the blocks need to be full all the time that we need to have a fee market there
that undermines bitcoins usefulness is money and so maybe I’m one of the better
communicators and one of the more public figures on this side of the debate but
there are a huge number of people that understand that in order for Bitcoin to
be useful as money it has to have low fees and and and be easy to use and have
your transaction concluded the next clock right away and if that’s not the
case people are going to start using something other than Bitcoin and so
that’s very very damaging for Bitcoin it’s damaging for the Bitcoin ecosystem
is damaging for people who hold Bitcoin because it undermines the value of the
bitcoins that they’re holding it’s damaging the Bitcoin calm is future
business prospects it’s damaging to the entire Bitcoin ecosystem and you know
it’s 10:00 a.m. here in Tokyo when I woke up this morning the latest news
today is that store storge or storage or however you pronounce that one is no
longer going to be using Bitcoin they’re gonna be using a curium and it’s
happening time and time again we’re seeing more and more businesses switch
to something other than Bitcoin and we’re seeing all the new capital coming
into the crypto market space going to things other than Bitcoin because the
blocks are full and the user experience of people trying to make a Bitcoin
transaction or is poor than ever before and I know we said we were gonna save
the scaling debate for a little bit later but for me just this is the
biggest issue that needs to be resolved in Bitcoin it needs to be resolved right
away and that’s why I’m so worried for this and that’s why I’m spending so much
time every day talking about this as publicly as I possibly can well yes so
in theory if this fork happens I mean you want this fork to happen soon and
and the forked Bitcoin wins and becomes the real Bitcoin you are going to be the
new Satoshi Nakamoto of this version of Bitcoin you position yourself that way
whether you like it or not and I don’t really think that’s fair either I I
think I but you’reyou’re the I mean you are the face event so I’m wondering what
will happen to the price of this fork Bitcoin when the US or the Japanese
government try to imprison you I mean that it’s it’s something that has to be
considered here it has to be considered you this this new coin this new version
is very much associated with you and I mean the media’s contacting you about it
they associate you with it I mean I see I see I see a weakness in what could
happen here I mean what what would happen if they tried to imprison you
I would probably wind up going to persons what would happen and of course
I don’t want that to happen and even with the current version of Bitcoin as
the CEO of Bitcoin comm I’m plenty susceptible to governments
you know governments okay if I go to prison I’m lucky governments drop bombs
and kill people all over the world every single day so as long as I’m alive
that’s better than a lot of the ways a lot of people around the world are being
treated by governments this is this is the thing yeah we we’re gonna go from
having the founder of the coin being Satoshi Nakamoto to the founder of the
coin being Roger ver and if Roger Baer is I completely ruined your premise here
I completely get your premise the founder of the Bitcoin unlimited is the
same Bitcoin that we have now just with blocks that are a little bit bigger than
the ones that we have today the Genesis block was still created by Satoshi
Nakamoto it’s the same chain it’s the same blockchain I completely reject your
premise that I would be the founder of some new coin they will have a guy to
point to and if you are arrested the price will be destroyed they cannot it’s
just with with Satoshi he will not be arrested he will not be captured if if
this Fork happens there’s a change of mentality that’s going to happen and
it’s just you will have initiated a change they will be able to point to it
they don’t understand what the heck bitcoin is but they’re gonna say hey it
is this is the new Bitcoin now this is the new guy we got our guy we’re going
after him now I just can’t like Percy that’ll do absolutely nothing to stop
Bitcoin or slow Bitcoin down bitcoins you know tens of millions of people
around the world using it so if I go to jail Bitcoin will be just fine without
me now going back there was a tweet that you had on March 17th and it was a it
was about there’s an African kid photo on it and it’s linked to below and it
said most people in the world have no value to store so Bitcoin needs to
function as a payment network in order to be useful to them and then there was
a caption that said I’m supposed to use Bitcoin as a store
of value when the fees are more than I earn in a day have you been the Africa
before have you been there uh no I have not
okay okay and maybe you don’t know the origin of that put that picture that’s
missed me on the internet so it’s a photo that people make memes out of all
the time and if you go to any meeting generator that’s one of the top memes
that one of the top photos that people use to make beans out of so we don’t
even know if that photo was taken in Africa or anywhere else
I look like a typical Sally Struthers African type of picture you know but I
was in Zimbabwe and Mozambique and South Africa and Namibia for two months though
very recently and I gotta tell you payment networks and coffee and the
things that you bring up it’s just they’re not issues there and I wouldn’t
encourage you actually there are guys that I know their their garage or bears
of South Africa the roger bears of Zimbabwe Towanda Campbell and Lauren
general talk to these guys they support Segway and I mean Bitcoin already sells
at a premium in Zimbabwe the way it is right now so I mean I see I see the
point that you’re trying to make but I think on the ground in at least the
developing countries I was again physically in a Bitcoin is very much
fine as is and payment networks and coffee are just not things of what would
people care about so more people support the US dollar than supports a whit that
doesn’t mean that the US dollar is a superior payment network then said would
enable Bitcoin how often do you use Bitcoin your software payments oh no I
don’t use it for that at all because I don’t I don’t believe it’s uh it’s not
the purpose that I don’t it’s not an interest of mine and I see would I ever
like where I’ve traveled the people uses a store value in these Zimbabwe
Mozambique and in South Africa Oh how often do you actually make a Bitcoin
payment on the Bitcoin network yourself no I don’t mind I don’t use it I buy and
hold Bitcoin and I think I think that’s a ninety five percent of people are
doing right now I think you want to you know
you you see it your way you want to help your business out I mean you asked this
question all the time to ask tone that question and and you you you belittle
people that way that’s that you one of your techniques it’s an emotion use your
technique use it okay so I think it’s interesting though it because this is
three out of three for the people and in public debates that I’ve asked this
question all three of them said that they rarely use Bitcoin I use Bitcoin
every single day to pay people all over the world
an average day price several tens of thousands of dollars worth of Bitcoin I
used to pay various bills and various things that are happening here the
Bitcoin network is less usable than it’s ever been ever before the reason Bitcoin
has a value of a thousand dollars today is because so many people are using it
in commerce and that gives it liquidity on the markets and because it has that
liquidity other people are willing to use it as a store of value if Bitcoin
isn’t able to be used as a means of a payment and commerce it won’t be useful
as a store of value either so that’s what has me so concerned is that
bitcoins ability to be used as a payment network is being incredibly undermined
and if you undermine bitcoins ability to be used as a means of payment
it destroys bitcoins use case as a store of value as well so it it has to be both
of those things or it’ll be neither of those things so if people like me are no
longer able to use Bitcoin in commerce and to pay people around the world
people like you won’t be able to use it as a store of value either I disagree
people are just they try people use it to transfer money out of their countries
I mean the about Bitcoin to send money out of their countries as being
undermined by high fees along confirmation delays no they don’t care
things and Bob way they wait eight hours to get 50 dollars out of the baht Bank
it doesn’t they don’t they don’t care about time when you would do you want to
let this thing go to the public if it’s the number if it’s number two to the
other Bitcoin in terms of coin market cap or less than the in less than the
etherium market cap which is very off abhi I’m confident that people that own
bitcoins and hold bitcoins and run businesses and have capital realize that
Bitcoin needs to be the most useful money we possibly can make it and
Bitcoin core is road map it doesn’t do so that’s why we’re seeing more and more
people supporting Bitcoin unlimited more more bitcoin I’m limited blocks more and
more businesses more and more everything are supporting it economic pressure is
gonna wind out in the end the smart thing is going to happen in
the end so there’s no reason to fork off into a completely separate coin I think
when the fork happens a hundred percent or 99 point something percent of people
are all going to go in the same direction because there’s such a strong
incentive for everybody to stay on the same chain so that it’ll almost be like
when the fork happens it wasn’t really a fork at all because everybody went in
the same direction I think that’s the most likely thing that to happen ok we
we have these no numbers pointing showing the opposite and then if you
check out social media on Twitter I mean it is seems overwhelming that this
support is for Segway I mean that’s that’s what I’m doing to you you’re
saying X Y Z is gonna happen all these people are going to switch over and you
talk a very good game I think you took a good game based on emotion and
everything but I think that the hard core numbers out there that is it’s it’s
showing that yes I’d like to wasn’t emotion they got me excited about
Bitcoin when it was less than a dollar it was that I understood that Bitcoin
was the best form of money that the world has ever seen and that people were
naturally going to start using Bitcoin as money that wasn’t from emotion that
was from my studying of economics previously and it’s that same knowledge
that’s in my head that tells me right now that if Bitcoin doesn’t continue to
be the most useful form of money people are going to start using something else
so yes I’m emotional about it because it’s important to me and because most of
my savings are in Bitcoin but it’s the knowledge in my head from studying
economics that tells me that bitcoin is on the right wrong path with Bitcoin
core and is on the right path with Bitcoin unlimited well the true Bitcoin
will be decided by the people and perhaps I mean they might not be on the
same page as you I think you’re very confident that they will be and you
present a confident face definitely but but again from what what I am seeing and
we’re seeing two different things here and only
and time will tell I don’t see the support for your side that you are
conveying I see a lot of confidence coming from you and I give you credit
for being able to exude that conference yeah that confidence but I I don’t see I
don’t see the support bitcoins in big big trouble and I it’s if Bitcoin isn’t
allowed to scale if something else is going to continue to eat into its market
share and that’s a sad sad day for for every Bitcoin lover on every side of
this debate we shall see about that we shall see about that
indeed found that like button I hope you enjoyed that looked back on the road to
one trillion dollar market cap of Bitcoin yes there have been many
stumbling blocks there’s been lots of controversy you just saw some of it and
well was the fear in the air or what that dude sure knows how to scare people
right play on the fear and look what happened it was just a matter of time
you didn’t need to rush things long term thinking segue prevailed bitcoins price
was like a thousand and fifty dollars back then look at it now he got his own
coin and yes that coin is completely associated with him like I predicted so
right away i’m adam meister the bitcoinmeister the disrupt meister
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