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September 20, 2019, 10:53:00 AM |
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It's shady for sure, but not the worst thing in the world either. I'm pretty sure that Roger has more up his sleeve, which I expect to take off a couple of some months before the block halving. BCash has been suspiciously calm in terms of price action with how fundamental the block halving event actually is. His exchange will come in handy to prop up prices. I must admit that Roger is a fighter. This dude is relentless when he wants to achieve something. Great characteristic if he used his resources the right way.
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September 20, 2019, 11:03:02 AM |
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Binance are doing well to cover themselves because they will be ripped to shreds by the SEC if something goes wrong and they fall foul of US regulation.
They should not be listing BNB. That smells very security-esque to me. Binance is obviously taking a contrary position. They are trying to prove that BNB "powers the Binance Ecosystem" and that it has a multitude of use cases. The utility token argument, basically. I don't know how legally sound their position is but I get the impression that the SEC has bigger fish to fry. The SEC will not be fooled by anybody or any company no matter their reputation, influence or background. Binance will not be having it all its way when it comes to the USA
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squatter
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September 20, 2019, 06:41:50 PM |
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It's shady for sure, but not the worst thing in the world either. I'm pretty sure that Roger has more up his sleeve I'm sure you're right. The subtle misrepresentation through Multiexchange is just a taste. To be fair, the exchange industry is cutthroat and riddled with unscrupulous actors, so it's tough to go 100% by the books and still be able to compete. The SEC will not be fooled by anybody or any company no matter their reputation, influence or background.
Binance will not be having it all its way when it comes to the USA
Binance.com's conspicuous exit from the US market already spells that out. I just think the SEC has already pressured them plenty behind closed doors. As long as they get in line now, they're probably looking at slaps on the wrist for past behavior.
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JollyGood (OP)
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September 20, 2019, 07:43:31 PM |
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I am certainly not a fan of Ver - past history of my posting related to Ver and BCH will attest to that and I have no intention of ever signing up to his exchange but keeping that aside, the exchange on his website looks different from the usual formats of Peatio based exchanges out there. Maybe it is Peatio based, I do not know for sure as I did not check too deeply but the layout of the exchange (software/UI) does give it a toally different feel from the usual ones out there.
It seems like Ver has used a fraction of the millions he made by striking it rich with Bitcoin to have developers create his exchange and they seem to have done a good job. Having said that, why is he getting in on the exchange act now when he had ample opportunity to do so years ago?
If CZ did work for Ver once upon a time and then left to start his Binance project then maybe there is a bit of that "what if" envy in the eyes of Ver and now he might be chasing some of those $billions or $hundreds of million trading volumes that genuine exchanges transact and fake exchanges claim.
In my opinion Ver has joined the party too late and by now using the bitcoin.com domain to show an exchange related website rather than the previous ridiculous "BCH is Bitcoin" website does not mean much.
Having an exchange was one thing that was missing from the resumé of Ver and now he has it I just do not see it bringing him the daily $millions of profit he probably hopes for and I do not see it bringing Ver the recognition he so badly craves from the community.
The community will not forgive and forget so easily especially when Ver declines to even accept his past faults and mistakes.
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September 21, 2019, 09:38:09 AM |
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The community will not forgive and forget so easily especially when Ver declines to even accept his past faults and mistakes.
It's near impossible for someone to admit past faults and mistakes when that person doesn't consider them to be that. He put blood sweat and tears into Bitcoin early on, and now he feels that he has been robbed by the big evil BlockStream (which nowadays is no longer as influential). He now carries a grudge against any entity he considers to be responsible for Bitcoin to not scale on-chain. Roger is too damn deep invested in BCash to come back to Bitcoin. I would forgive him though if he did. I'm sure he isn't inherently ill minded, just feels he has been treated unfairly.
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September 21, 2019, 10:18:05 AM |
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The community will not forgive and forget so easily especially when Ver declines to even accept his past faults and mistakes.
It's near impossible for someone to admit past faults and mistakes when that person doesn't consider them to be that. He put blood sweat and tears into Bitcoin early on, and now he feels that he has been robbed by the big evil BlockStream (which nowadays is no longer as influential). He now carries a grudge against any entity he considers to be responsible for Bitcoin to not scale on-chain. Roger is too damn deep invested in BCash to come back to Bitcoin. I would forgive him though if he did. I'm sure he isn't inherently ill minded, just feels he has been treated unfairly. If he were honest and open about creating BCH out of spite and if he admitted using the bitcoin.com domain in a manner that was out and out counter productive to the cause and if he was open about his reasons for holding animosity towards Bitcoin and Bitcointalk then it would be a great start. If that were the case many people would welcome him back in to the community with open arms and many would be hesitant but unfortunately there is no sign of Ver backing down from him standpoint. Over time people change and so do their opinions, may Ver will too one day. Regarding his exchange, has he joined the party too late?
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September 21, 2019, 11:44:56 AM |
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If he were honest and open about creating BCH out of spite and if he admitted using the bitcoin.com domain in a manner that was out and out counter productive to the cause and if he was open about his reasons for holding animosity towards Bitcoin and Bitcointalk then it would be a great start.
Roger has been suckered into it I believe. BCash started off as mainly a Bitmain product to have another large SHA256 network operational, all to recycle the older gen miners that were pretty much useless to mine Bitcoin with. It's a smart business move on Bitmain's side. Jihan must be happy with Roger taking all the credit and blame for everything. Regarding his exchange, has he joined the party too late?
It's too early to say, but even if that exchange isn't really successful, he can use it to prop up BCash. In that regard, I'm curious to see how the other more reputable exchange will react to the price activity on his exchange; will they ignore it or follow suit? Time will tell I guess.
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September 21, 2019, 02:21:09 PM |
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I think it's still all to play for regarding exchanges especially non fiat ones.
There's been enough that were impregnable once upon a time that are nowhere now.
I don't think he's going to do much until he lets the bch thing fade into the background and just concentrates on making a decent exchange.
Dunno if he's willing or able to pull that off.
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September 24, 2019, 08:45:59 PM |
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I think it's still all to play for regarding exchanges especially non fiat ones.
There's been enough that were impregnable once upon a time that are nowhere now.
I don't think he's going to do much until he lets the bch thing fade into the background and just concentrates on making a decent exchange.
Dunno if he's willing or able to pull that off.
Non-fiat exchanges will be in demand for sure because the element of KYC varies from region to region and from exchange operator to exchange operator. As long as there are people that can trade freely without the need to send their ID to exchanges there will be a demand for them. I cannot see Ver allowing BCH to just fade away but he will probably make a very big success of the exchange because of the bitcoin.com domain
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September 26, 2019, 07:38:49 PM |
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I cannot see Ver allowing BCH to just fade away but he will probably make a very big success of the exchange because of the bitcoin.com domain
I think so too. If you look at how much work and money he put into promotion and adoption, he surely is convinced that it will succeed. It's not a get rich quick thingy for him because it made him lose more than he gained. He must have been a very large buyer when the ratio was still between 0.10-0.20BTC. It's not fiat he used for that, but his precious Bitcoins. He burned himself because of his believe in payments being the most important aspect. This exchange is his last weapon in terms of pumping life back into Bcash. If this fails then he has done everything he could to try make it work, but there simply doesn't seem to be any demand for payments.
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BSV is not the real Bcash. Bcash is the real Bcash.
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September 26, 2019, 07:54:47 PM Last edit: September 26, 2019, 09:40:33 PM by JollyGood |
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I cannot see Ver allowing BCH to just fade away but he will probably make a very big success of the exchange because of the bitcoin.com domain
I think so too. If you look at how much work and money he put into promotion and adoption, he surely is convinced that it will succeed. It's not a get rich quick thingy for him because it made him lose more than he gained. He must have been a very large buyer when the ratio was still between 0.10-0.20BTC. It's not fiat he used for that, but his precious Bitcoins. He burned himself because of his believe in payments being the most important aspect. This exchange is his last weapon in terms of pumping life back into Bcash. If this fails then he has done everything he could to try make it work, but there simply doesn't seem to be any demand for payments. Whether he bought any BCH or not is not that important because (like other Bitcoin holders) he would have received an equal amount of BCH when the fork was created and he would have had thousands of them. It has to be said that BCH is still a top 5 crypto by market capital and cannot be written off even though it is clear Ver lost the battle in trying to make BCH supreme over Bitcoin. If utilised properly BCH does have a future but Ver is obsessed with trying to pass off BCH as the 'real' Bitcoin. If Ver changes direction and lets BCH develop its own path without trying to claim BCH is Bitcoin then BCH will probably be around much longer than if he keeps up the confusion. Will Ver accept he failed in the attempt to dethrone Bitcoin?
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September 27, 2019, 04:43:08 PM |
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Whether he bought any BCH or not is not that important because (like other Bitcoin holders) he would have received an equal amount of BCH when the fork was created and he would have had thousands of them.
How is it not important? He is clearly of believe that Bcash will become the dominant coin in the long run, and with how the ratio peaked around 0.40BTC per coin, he might have gone nuts on Bcash before Bitcoin would become the minority chain. For a moment the big block camp had more hashrate on their chain than Bitcoin, which scared off a lot of people. The fomo buying that was happening at that stage was beyond insane. The moral of the story is that he holds most of his funds in Bcash and for that reason has an incentive to keep promoting it. Unless he converts back to Bitcoin, he will go down with Bcash, and that's something he is serious about.
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BSV is not the real Bcash. Bcash is the real Bcash.
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September 27, 2019, 04:56:20 PM |
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Whether he bought any BCH or not is not that important because (like other Bitcoin holders) he would have received an equal amount of BCH when the fork was created and he would have had thousands of them.
How is it not important? He is clearly of believe that Bcash will become the dominant coin in the long run, and with how the ratio peaked around 0.40BTC per coin, he might have gone nuts on Bcash before Bitcoin would become the minority chain. For a moment the big block camp had more hashrate on their chain than Bitcoin, which scared off a lot of people. The fomo buying that was happening at that stage was beyond insane. The moral of the story is that he holds most of his funds in Bcash and for that reason has an incentive to keep promoting it. Unless he converts back to Bitcoin, he will go down with Bcash, and that's something he is serious about. As far as I remember he has stated in the past he has Bitcoin and intends to hold on to it. As for converting BCH to Bitcoin, it was one of the main plans that Wu was implementing as soon as BCH was being mined in mass quantities it was converted to Bitcoin. Ver never stated how many Bitcoin he had but if he has for example 25,000 or 50,000 or 70,000 BCH which were received as a result of the fork then why would he need to buy any when he is already a whale?
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September 28, 2019, 10:10:32 AM |
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Ver never stated how many Bitcoin he had but if he has for example 25,000 or 50,000 or 70,000 BCH which were received as a result of the fork then why would he need to buy any when he is already a whale?
Likely to control the majority of the total circulating supply. Bitmain started with less than 100,000BTC on its balance sheet, but ended up holding well over 1 million BCH. The very fact that BCH is still where it is today in terms of market cap and price, comes from how a few entities control most of what is in circulation as we speak. 1BTC gets you like 33BCH today. Roger and Jihan (and I'm sure there are a few others) can slowly usurp all these BCH with little to no effort. This will explode one day. I'm guessing somewhere before the block halving kicks in (which is scheduled to happen before Bitcoin's halving due to the massive inflation they had due to EDA). Same applies to BSV even though their finances don't quite compare.
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