Roger Ver: Starting His Own Crypto Exchange?

[SFR10]

It is probably too late for Ver to join the crypto exchange market after the rise of Binance and several others.

I think it will be difficult for him to succeed because there are too many exchanges already out there.

Numbers don't matter (somehow insignificant) but instead, having an exchange that's secure enough is the key and that's where he's lacking:

As mentioned, the idea is still very much at the drawing board stage of its development. Ver is not even sure whether he would prefer to develop an entirely new platform for buying and selling cryptos or if he should simply locate a partner willing to sell usage rights to him. Both options offer different pros and cons:

“If we build it ourselves, we can do it really, really cheap, and we get exactly what we want… But we don’t have the security of a battle-tested exchange that’s been around for a while.”

- Most likely he'll go with the latter option (partnering with someone) but regardless of that, he's getting involved in way too many things (really annoying).

why bother, Bitcoin was always going to win the battle against Bitcoin Cash.

Greed.

[1Referee]

Who is creator of Bitcoin Cash and how exactly have they benefited any more than any other bitcoin holders?

Bitmain is it. That company is the main source of wealth and backing that BCash relies on. If Bitmain pulls back, BCash will turn into BTG within months.

BCash represents both an attack on Bitcoin (which failed), and a backup SHA256 network allowing redundant gear to keep hashing in a profitable manner (which they succeeded in).

how exactly have they benefited any more than any other bitcoin holders?

How exactly have Bitcoin holders benefited from BCash other than selling their fork coins? It's not just free money that's handed over to them; if the attack succeeded Bitcoin would have proven to be easy to attack and take over. It was straight Russian roulette with potentially a catastrophic outcome. People don't realize how bad the situation at that point was. It's the first ever corporate takeover attempt.

[JollyGood]

His reputation is in shambles, I don't think this will be even close to successful.

Agreed. So many of the community would not even bother visiting his website or exchange because of the way Ver behaved towards the community in the past.

[Koadharber]

His reputation is in shambles, I don't think this will be even close to successful.

Agreed. So many of the community would not even bother visiting his website or exchange because of the way Ver behaved towards the community in the past.

On just how many times he do attacked Bitcoin and make some diversion of making people fooled into misleading information about Bitcoin then i would say that trusting him up
wont really be that easy unless if you are a fan of this d*ckhead then you will really use his exchange but majority would really have negative impressions about him.This wont succeed for sure.

[BitHodler]

So many of the community would not even bother visiting his website or exchange because of the way Ver behaved towards the community in the past.

I wouldn't necessarily say that.

His bitcoin dot com wallet has over 1 million downloads in the Google Play Store. If even 10% of these downloads come from ignorant users not knowing what's going on, that's already an important gain for him.

Imagine how many average joes will install that wallet during the next bull run resulting in more mainstream adoption. These people don't know how bad of a character Roger Ver is.

He may be out to bank on the next boom by having an exchange built in his app, which admittedly could work out well. Time will tell if these are raw ideas or actual plans he's going to put all his time and effort in.

[JollyGood]

I don't think that it's too late to join crypto exchange market for Rodger Ver. But I hope that his project will fail, or at least wont become popular. I just hate ways how is trying to promote Bitcoin Cash and call it as real Bitcoin. Well, I have nothing against BCH itself, but I'm not going to support Ver business. Now original Bitcoin is described as Bitcoin Core on Bitcoin.com, and at the same time buying of Bitcoin Cash is "Recommended" on this website. It just confuse new users and Ver can benefit fom it on bigger scale by starting new exchange where BCH will be main currency.

Even if Bitcoin Cash becomes the base currency of any exchange I doubt very much it will do any damage to Bitcoin. Like you, I cannot support any business that Ver is involved in because of the damage he has tried to do to Bitcoin.

[figmentofmyass]

Who is creator of Bitcoin Cash and how exactly have they benefited any more than any other bitcoin holders?

Bitmain is it. That company is the main source of wealth and backing that BCash relies on. If Bitmain pulls back, BCash will turn into BTG within months.

considering how big their bcash bags are, i don't see that happening.

BCash represents both an attack on Bitcoin (which failed), and a backup SHA256 network allowing redundant gear to keep hashing in a profitable manner (which they succeeded in).

it was a pretty brilliant plan to address their oversupply of hardware. if they're using obsolete hardware to point at bcash, their mining costs are probably exorbitantly low. people (including me) always clown them about their bcash bags, but it's probably not as bad as it looks.

How exactly have Bitcoin holders benefited from BCash other than selling their fork coins? It's not just free money that's handed over to them; if the attack succeeded Bitcoin would have proven to be easy to attack and take over. It was straight Russian roulette with potentially a catastrophic outcome. People don't realize how bad the situation at that point was. It's the first ever corporate takeover attempt.

i really don't think it really was a takeover attempt. XT, classic, BU were because they purported to decide hard fork validity based on hash power.

bcash was spun up at the last second before segwit activation and got very little hash power support at fork time. looking back, i think it was really more about bitmain's redundant hardware and to some extent, the ability to use covert asicboost. i don't think anyone thought it was ever going to be "bitcoin" and it obviously wasnt going to be adopted as such on that super rushed timeline and with such little exchange support. i also remember jihan wu iterating early on that "bitcoin cash is not bitcoin"......

[JollyGood]

It will be hard for him to get traction if his exchange doesn't differ from others and doesn't offer anything special. But he could still beat Binance to open P2P exchange (where funds are controlled by traders), similar to EtherDelta but supporting more than just Ethereum tokens.

Whatever he's planning to do - good luck to him and let the free market decide on his success or failure.

I think traction and momentum is not on his side, that is obvious because he has many exchanges trading US$ hundreds of millions a day, a fairly regularly around a billion for Binance.

Yes the free market will decide the success or failure for any business but not everybody will wish him good luck because of his previous attempts to destroy Bitcoin by creating Bcash and trying to claim it is the "real" Bitcoin when it is nothing except a fork.

[HostFat]

It will probably a good way to give funds to other good projects on Bitcoin Cash.

[JollyGood]

He's got money for advertising, but that's really about it in my mind for Roger's exchange if it ever comes out. I can only see this being a regular old exchange with KYC that everyone hates and all the basic features of an exchange, perhaps with a few BCH oriented functions on the site. Perhaps this might gain a legitimate userbase initially, but I can't see this being too successful in the long run.

I agree, if any new exchange follows the same format of KYC and trade then it will not be doing anything different so the chances are it will not be successful.

Maybe Ver will decide not to launch an exchange because many people do not like anything associated with his name and reputation.

[figmentofmyass]

I agree, if any new exchange follows the same format of KYC and trade then it will not be doing anything different so the chances are it will not be successful.

it partly depends on how many people land on bitcoin.com and what type of people they are. i have no idea about that stuff, but it sounds a lot more lucrative than a news site and forum. i'm sure roger is also considering what kind of promotion he might be able to give to bcash (and projects built on it) by launching new markets for them.

in the current environment, the market feels saturated. but in terms of volume and growth expectations, it's a better time now (or in the near future) than at the top of a bubble---like when circle purchased poloniex and the global volume decline set in.

[JollyGood]

if Ver can give something better than what currently exists, why not, there is already exchange for btc and dex for eth, we will be pleased to have an exchange for the bch.

In that case yes why not, it would suit many BCH holders to use that exchange but for those that still do not forgive Ver for trying to kill Bitcoin and for the fact Ver never apologised means that they will never use any business or service connected to Ver.

[bL4nkcode]

Whatever the reason for being hated of Ver which is too many reasons IMO. But this is still a good move though --having more competition in the exchange market.
If this exchange will be as good as binance did or much better then why not use it? Just expect BCH will be the trading fee or even the withdrawal fee.

But if he will continue to spread lies about bitcoin --make BCH as bitcoin. If the exchange will be like hitbtc or any crap exchange. I guess only BCH fanbois will use that exchange. If ever~

[JollyGood]

Whatever the reason for being hated of Ver which is too many reasons IMO. But this is still a good move though --having more competition in the exchange market.
If this exchange will be as good as binance did or much better then why not use it? Just expect BCH will be the trading fee or even the withdrawal fee.

But if he will continue to spread lies about bitcoin --make BCH as bitcoin. If the exchange will be like hitbtc or any crap exchange. I guess only BCH fanbois will use that exchange. If ever~

Yes I agree, competition should create a healthy atmosphere and market but when Ver uses bitcoin.com domain to confuse people in to thinking Bcash is Bitcoin then there are problems.

About HitBTC, it may not be a great UI but what cannot be denied are the stats, it is a successful site trading millions per day. As you say, maybe Bcash fans will jump in head first but most will avoid it at all costs.

[JollyGood]

Did Ver ever get his exchange started? Any news on this?

[milewilda]

Did Ver ever get his exchange started? Any news on this?

There were no news on Ver launching an exchange so we can still say that he havent made one yet because if it able to go through it would create some buzz that everyone would know.

[OgNasty]

This became BCH's version of localbitcoins I believe.

[mk4]

This became BCH's version of localbitcoins I believe.

This already exists: https://local.bitcoin.com/

I think this one is different. Basically, a crypto exchange, whereas the main trading pair is BCH/coin and not BTC/coin. Quite a bold move for something that I think has low demand and could end up having very very low liquidity. This dude is definitely doing everything to uplift BCH. While I personally don't like and don't hold BCH, his dedication is surely something.

[JollyGood]

This became BCH's version of localbitcoins I believe.

This already exists: https://local.bitcoin.com/

I think this one is different. Basically, a crypto exchange, whereas the main trading pair is BCH/coin and not BTC/coin. Quite a bold move for something that I think has low demand and could end up having very very low liquidity. This dude is definitely doing everything to uplift BCH. While I personally don't like and don't hold BCH, his dedication is surely something.

Thank you for the post.

I see BCH as a failed attempt to dislodge Bitcoin. It failed badly.

As for the website (https://local.bitcoin.com) it seems a half-hearted project to show people BCH is widely used when the reality is it is only a market place, hardly a real exchange.

[mk4]

As for the website (https://local.bitcoin.com) it seems a half-hearted project to show people BCH is widely used when the reality is it is only a market place, hardly a real exchange.

I actually think it's a decent alternative to LocalBitcoins(due to KYC). Fortunately and unfortunately though(depending on which side you're on), I don't see local.bitcoin.com to be up and running without KYC/AML for long at all. If it gets big enough, it will receive the same government treatment that localbitcoins received.