[2017-10-01] Roger Ver Bets $4 Million on SegWit2x Hard Fork

[cybersofts]

Angel investor Roger Ver has placed a $4 million bet that the coins on the SegWit2x blockchain will ultimately be worth more than coins on the original bitcoin blockchain following the proposed November hard fork.

It’s difficult to remember a time when the bitcoin community was not embroiled in a debate about the appropriate way to scale the bitcoin network. That debate has taken numerous forms but currently centers around the disagreement between supporters of SegWit2x and supporters of Bitcoin Core. The war of words — and hashpower — began shortly after the New York Agreement and has escalated throughout the year as November, the scheduled date for the SegWit2x hard fork, approaches.

Litecoin creator Charlie Lee has been one of SegWit2x’s most vociferous opponents. Friday, he put his money where his mouth — and keyboard — is, initiating a chain of events that have ultimately resulted in Roger Ver placing a $4 million bet on the success of SegWit2x.

The saga began when Lee publicly challenged SegWit2x developer Jeff Garzik, ShapeShift CEO Erik Voorhees, and Digital Currency Group CEO Barry Silbert, all SegWit2x proponents, to trade him 250 BTC from the original bitcoin blockchain for 250 BTC from the SegWit2x blockchain following the hard fork. At current exchange rates, this wager equates to more than $1 million.

     Lets do a public 1:1 trade. My Segwit2x 250 BTC for your non-2x 250 BTC after Nov HF. No HF, no trade. @jgarzik @ErikVoorhees @barrysilbert

    
    — Charlie Lee [NO2X] (@SatoshiLite) September 29, 2017

As of the time of writing, neither Garzik, Voorhees, nor Silbert had responded to Lee’s challenge. However, Roger Ver, a New York Agreement signatory who has embraced bitcoin cash, told Lee he would “gladly accept” the offer. “Deal!,” Lee replied.

    Deal!

    — Charlie Lee [NO2X] (@SatoshiLite) September 29, 2017

But Roger Ver did not stop there. His tweet unleashed a flurry of similar offers, three of which he accepted. As he announced on reddit, he will trade 1,000 non-SegWit2x BTC (worth more than $4 million) to Charlie Lee, BitGo CTO Ben Davenport, Chaincode Labs co-founder Alex Morcos, and crypto economist Tuur Demeester, each of whom will purportedly stake 250 coins from the SegWit2x blockchain.

Time will tell which of them live(s) to regret that decision.


Source: https://www.cryptocoinsnews.com/roger-ver-bets-4-million-segwit2x-hard-fork/

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[vit05]

How will Bitcoin SegWit2x be called?

[CyberKuro]

How will Bitcoin SegWit2x be called?

As far as I know, it called bitcoin gold.
Bitcoin, bitcoin cash and then bitcoin gold, as Roger ver really sure that the coins on the SegWit2x blockchain will be worth more than original bitcoin, then the price of bitcoin will be rise again due to people will likely to buy more bitcoin to get free bitcoin gold, right?
Hold yours and be ready to sell bitcoin gold, the same story for bitcoin cash I guess.

[cr1776]

How will Bitcoin SegWit2x be called?

VerCoin2?  I think I’d take Roger’s bet.  But after supporting VerCoin1 (bcash) who knows how much is left. 😂

[TraderTimm]

It will be known as "Ver's Lament".

I'm glad he was stupid enough to take the bet. The resulting loss should temper his self-promotional bullshit, at least for a while.

[veleten]

its called Bitcoin Gold :
https://www.coindesk.com/first-cash-now-gold-another-bitcoin-hard-fork-way/
https://news.bitcoin.com/a-closer-look-at-the-suspicious-activity-involved-with-the-bitcoin-gold-fork/

but Ver's Lament is a good name too  
no idea why ,probably wants free money and all the talks about "decentralisation" and such
are the usual Ver's code words for greed and egoitism

[LeoEspansq]

How will Bitcoin SegWit2x be called?

As far as I know, it called bitcoin gold.
Bitcoin, bitcoin cash and then bitcoin gold, as Roger ver really sure that the coins on the SegWit2x blockchain will be worth more than original bitcoin, then the price of bitcoin will be rise again due to people will likely to buy more bitcoin to get free bitcoin gold, right?
Hold yours and be ready to sell bitcoin gold, the same story for bitcoin cash I guess.

I think that this crypto currency will be even worse (less popular) than bitcoin in cash. The fork, which was in August, did not really stir people. And this means that the fork in November, too, will pass without harm to the bitcoin original

[nickbelski]

How will Bitcoin SegWit2x be called?

As far as I know, it called bitcoin gold.

I may be wrong but, Bitcoin gold is another hardfork which is slated to launch on October 25, and SegWit2x is November chain split. As for Roger Ver Bets i think this whales have more than enough millions to gamble, win and loose, without fear to become poor.

[usorin]

How will Bitcoin SegWit2x be called?

As far as I know, it called bitcoin gold.

I may be wrong but, Bitcoin gold is another hardfork which is slated to launch on October 25, and SegWit2x is November chain split. As for Roger Ver Bets i think this whales have more than enough millions to gamble, win and loose, without fear to become poor.

Ok, the big question is, thouse 4 millions are part of the bitcoin gold initial investment?? The bitcoin variety is biger and biger, tomorow it will the launche the bitcoin easter bunny. And a small question, with who did he made the bett? I mean i can use easy money:)

[Kprawn]

You can bet on one thing, Roger will spend $4 000 000 more to win this bet, just to prove a point or he will not just use his

money to honour the bet. {He will influence a bunch of people to club in together to do this} Roger always have a hidden

agenda. He might even lose the bet and still profit $4 000 000 on a side bet. { Example : Roger bet someone else that he

will get those guys to take his bet, so if they do... he wins the bet with the other guy and take his money to honour the bet}

[1Referee]

I am looking to include my eventual SW2X coins in the deal as well, at a 1;1 ratio. If we look at Ver's supposed wealth that consists of roughly 300K BTC, then this is just a pocket change gamble for him. If he is a man with balls, or whatever is left of it, then he puts a minimum of 50% of his entire holdings on the line, and not such a pathetic amount. It just shows that he has no real believe in SW2X at all, because if he firmly believed that it would surpass Bitcoin in value, he would put a far higher number of coins on the table. It just shows how deep pockets are toying around with Bitcoin for their own financial gain - pathethic being that he is.

[DooMAD]

How will Bitcoin SegWit2x be called?

As far as I know, it called bitcoin gold.

I may be wrong but, Bitcoin gold is another hardfork which is slated to launch on October 25, and SegWit2x is November chain split. As for Roger Ver Bets i think this whales have more than enough millions to gamble, win and loose, without fear to become poor.

Ok, the big question is, thouse 4 millions are part of the bitcoin gold initial investment?? The bitcoin variety is biger and biger, tomorow it will the launche the bitcoin easter bunny. And a small question, with who did he made the bett? I mean i can use easy money:)

Yeah, Bitcoin Gold is something else.  It utilises a different Proof-of-Work algorithm called Equihash.  Beyond that, not much else is known about it because no one seems to care enough to look it up and do any research on it.  I don't think many people are going to even notice it happen, but it could serve as a useful testbed or case study if Bitcoin even needs to change its own algorithm.

[FrueGreads]

How will Bitcoin SegWit2x be called?

I don't think there is a name for it yet. I hear everyone referring to it as SegWit2x hard fork, as they mention the "New York Agreement" when they talk about it, because the plan for this hard fork came from that reunion. There is another fork in late October that is called bitcoin gold, but that is not the SegWit2x. If I'm not mistaken the SegWit2x does not even have replay protection, so I don't think I will touch those coins for a while, at least not until things cool down if it really happens.

As for the bet itself, we all know that Roger Ver prefers the big block approach, since the supports bitcon cash. I see this bet as marketing and nothing else.

[richardsNY]

Roger knows how things will be with the SegWit2X fork, if happened. It will end up going the same way as BCH, and also Bitcoin Gold later this month. It's just a lame but yet very effective attempt to make money through another chain split -- this dude is literally swimming in a pool of money already, and just can't seem to stop his hunger for more. Nothing wrong with people looking to build up their wealth even more, but it's the way of achieving it -- in this case it may potentially cause the market to sink significantly, and they are perfectly fine with it as long as they bank on it.

[error08]

its called Bitcoin Gold :
https://www.coindesk.com/first-cash-now-gold-another-bitcoin-hard-fork-way/
https://news.bitcoin.com/a-closer-look-at-the-suspicious-activity-involved-with-the-bitcoin-gold-fork/

but Ver's Lament is a good name too  
no idea why ,probably wants free money and all the talks about "decentralisation" and such
are the usual Ver's code words for greed and egoitism

$4 million bet on the SegWit2x blockchain called Bitcoin Gold (BTG), but core developers have been taken steps to ensure BTG hard fork become another altcoin. People have been through such situation before when BCash launched, its price could reached over $1000 for a while before get dumped massively after most trading platforms and  exchanges allow to trade BCash.
Bitcoin Gold protocol has available code on Github which will use the Equihash algorithm used by the altcoin Zcash rather than bitcoin’s original SHA256. Yes, it will be different with Bitcoin, with all of the advantage, but the questions is whether people consider BTG as the best version of current Bitcoin, or just a threat for bitcoin and will be dumped just like Bcash. Only time will tell whether Roger Ver's BTC250  or Charlie Lee's 250 BTG will be more profitable in the future.

[DooMAD]

$4 million bet on the SegWit2x blockchain called Bitcoin Gold (BTG)

Again, no, Gold and 2x are two distinctly separate things.  Bitcoin Gold has nothing to do with Ver's bet or this thread.  SegWit2x is the November fork and the one this article is pertaining to.  SegWit2x doesn't use Equihash.  2x or NYA is the one currently sitting with around 90-95% of the hashrate commenting 'NYA' with their coinbase text.

Bitcoin Gold is the fork later this month using Equihash.  Unlike 2x, there's no 'industry' mining support because Equihash is an attempt at being ASIC resistant, so the big miners aren't going to be able to profit from it with the hardware they currently run.  There's another thread in the Press subforum here for people to discuss that fork.  

Let's try to keep the two apart from now on to avoid any further confusion.

I didn't think it would be that difficult for people to keep track of things as such an early stage.

[Oo ako to]

They are hyping another bitcoin imitation again  just like what they did on bitcoincash. I'd rather invest on altcoins.

[usorin]

They are hyping another bitcoin imitation again  just like what they did on bitcoincash. I'd rather invest on altcoins.

Exactly, they are trying to copy an idea that brought success, just with the hope that they will make some gold, i dont understand it, why they dont try to be more creative, at least it would be more convincing with their project.

[European Central Bank]

i don't really understand why he's having anything to do with this. bch was his little pet and i'd assume that's the one he'd put money on, not this.

i'm still not convinced it's actually gonna happen. signalling means very little as we've seen time and time again. there are miners still signaling ideas that've been dead for years now.

[BitHodler]

i don't really understand why he's having anything to do with this. bch was his little pet and i'd assume that's the one he'd put money on, not this.  

BCH despite somewhat maintaining a value of over 0.10BTC for quite a while (it's currently below that mark), was doomed to fail ~ his plans to make BCH overtake Bitcoin has failed badly.

SegWit2x is just another attempt to achieve the same goal, but this one too will fail. Literally nothing can replace the legacy chain, and that's something he is well aware of.

It's just a way for him to obtain even more wealth, and that without putting his coins at risk. It's just him and the people supporting his ideology initiating fork after fork to make millions due to their large holdings.

Even if his Bitcoin wealth consists of 100,000BTC (which might be far higher in reality), a value of 0.10BTC per SegWit2x coin will be worth 10,000BTC, or $42,000,000 in fiat equivalent ~ these are the more interesting numbers.