Bitcoin (BTC) Roger Ver Musings and Lightning Network

Roger Ver:  To pretend that Bitcoin was never created for everyday payments is a brazen attempt to rewrite history.

The only hope for a cryptocurrency to become a real store of value is for it to have real-world utility.

“One of the biggest taxes is one that is not even called a tax – inflation. When the government spends money that it creates, it is transferring part of the value of your money to themselves.”

KYC requirements put every crypto user at risk. When an exchange is hacked and KYC info is leaked, thieves know exactly who the crypto whales are, and where they live, making them unsafe in their very own homes.

If Bitcoin had been promoted as cash in the first place, people would run to it during inflation.

Community Reaction:  Some people don’t benefit from the Bitcoin standard because then they won’t be able to steal and spend like crazy government money.

The idea that Satoshi was some all-knowing genius is a lie that has fooled many people.

Bitcoin chooses security over speed. Bitcoin was not created because Visa was too slow. Lightning is the layer 2 solution that let’s you transact instantly.

Nobody cares what it was created for. Focus on what it’s doing now. You’ll be a happier person.

Bitcoin chooses anonymity over convenience and stability of value, and takes advantage of fools chasing momentum, as all speculative plays do. It’s the equivalent of cash under the table for the super wealthy who can get in and out quickly. Business is brisk and out of sight.

To pretend that Bitcoin cannot currently be used for everyday payments is a dishonest attempt to influence the future.  How you pretend that lightning network still not exist?

It was created for everyday payment, but it has evolved to track the increase in the money supply. Most of the time.

The idea of somebody being able to go in and purchase a hamburger for $30 and then an hour later purchase another hamburger for $15 because of 50% of volatility is not going to work in the monetary system.

Point of sale systems require a fixed level of consistency per value and worth of product. Bitcoin will never be able to achieve this as long as it has such high volatility and price fluctuation.

Bitcoin is here to stay. Time, as always, is the greater Judge, and showed us the attempted forks have failed. The sooner you’ll accept it the sooner you can focus your talent on making it more P2P.

To pretend that Bitcoin (via the Lightning Network) isn’t currently my method of making every day payments is a brazen attempt to deny present reality.