Veteran Bitcoin investor Roger Ver has rebuffed a recent olive branch extended by Adam Back, CEO of Blockstream and a prominent figure in Bitcoin Core development. Ver, a vocal critic of the current state of Bitcoin and a strong proponent of Bitcoin Cash (BCH), remains unconvinced that Bitcoin aligns with its original vision.
The tension stems from Ver’s recently published book, “Hijacking Bitcoin: The Hidden History of BTC.” In it, Ver argues that Bitcoin Core developers have strayed from Satoshi Nakamoto’s vision of a peer-to-peer electronic cash system, prioritizing security over scalability. This, according to Ver, has rendered Bitcoin unsuitable for mainstream adoption due to high transaction fees and slow processing times.
Following the book’s release, Back offered a reconciliatory message on Twitter, stating, “We all want Bitcoin to succeed. Let’s find common ground & build together again.” However, Ver’s response in an interview with Decrypt Media was unequivocal.
“While I appreciate the sentiment,” Ver said, “unfortunately, the core development team has taken Bitcoin in a direction that I believe is fundamentally incompatible with its original goals. Scaling solutions like Layer-2 that they promote are just sticking plasters on a bullet wound.”
Ver emphasizes his belief that Bitcoin Cash, with its larger block size and focus on transaction throughput, is the true heir to Satoshi’s vision. He points to the recent rise in BCH adoption by merchants and its overall lower transaction fees as evidence of its utility.
“Bitcoin Cash is functioning exactly as intended,” Ver asserted. “Transactions are fast and cheap, making it a viable alternative for everyday payments. We are building the peer-to-peer electronic cash system that Satoshi always envisioned.”
Ver’s comments reignite a long-standing debate within the cryptocurrency community. Bitcoin Core supporters argue that larger block sizes compromise security, while BCH proponents believe that security can be maintained with careful implementation.
This back-and-forth highlights the ongoing struggle to define Bitcoin’s future. With Ver firmly entrenched in the BCH camp, it appears the cryptocurrency landscape will continue to see competition between these two prominent forks of the original Bitcoin blockchain.