Roger Ver, the creator of Bitcoin Cash (BCH), sometimes referred to as “Bitcoin Jesus” and known for riling up the Bitcoin community, has struck again with a tweet proclaiming that Bitcoin maximalists have gold all wrong.
According to Ver, many members and proponents of the Bitcoin (BTC) community don’t understand the concept of one of the world’s most stable assets, gold, as a store of value.
Ver stated that gold has a huge amount of industrial use cases, which is why it’s considered a strong store of value. By saying this, Ver was implied that Bitcoin is not a store of value nor a currency, although he did not directly say this.
Ver’s tweet said:
It’s amazing how many BTC maximalists don’t even know that gold has a huge amount of industrial uses completely separate from just being a store of value. In fact, it’s those other uses that enable gold to be used as a store of value.
— Roger Ver (@rogerkver) February 20, 2019
Crypto Twitter Chimes in to Rebut Ver’s Comments
Ver was clearly attacking the Bitcoin community with his tweet, implying that Bitcoin has fewer use cases than gold, and therefore has no reason to be a store of value. While Ver didn’t explicitly say this, it was taken this way by passionate members of the Bitcoin community.
Ver’s tweet quickly generated an influx of responses from prominent Twitter users, including both Bitcoin maximalists and general cryptocurrency enthusiasts.
Mike Dudas, the founder and CEO of The Block Crypto responded by saying:
You and I both know that that is total horseshit — and I’m not a BTC maximalist, just someone with a normal amount of brain cells.
Twitter user jratcliff63367, who is a game developer and software engineer for Nvidia, proclaimed that Bitcoin doesn’t need industrial use cases to be a store of value, stating that Bitcoin is scarce and that’s what makes it a store of value:
If gold were useful but also as plentiful as grains of sand, it would be nearly worthless. It’s not worth money because it’s ‘useful’, it’s worth money because it is scarce. BTW, Satoshi explained in detail how bitcoin mimics (and improves) upon the properties of gold.
In another tweet, jratcliff63367 said he was amazed Ver didn’t see Bitcoin’s “industrial uses”:
The last time I tried to send an ounce of gold across the planet over the internet it didn’t work for me. Bitcoin does.
Do you think Roger Ver is completely out to lunch with this tweet? Or does his tweet hold some merit? Let us know what you think in the comment section below.