It appears that the crypto community is very easily riled these days. A 50% collapse in total crypto market capitalization in the latter half of the year may have something to do with it, while a recent interview on CNBC with Roger Ver has kicked of another bout of twitter tribalism over Bitcoin Cash.
Bitcoin Jesus Shilling On Mainstream
The interview in question was headlined ‘Bitcoin Cash can go up a thousand times from where it is now: ‘Bitcoin Jesus’’ which is not usually something CNBC would run. Ver starts off stating that both BTC and BCH are up over double this year and that cryptocurrencies are here to stay.
In the same breath he jumps straight onto the Bitcoin Cash shill train
“The real interesting one is Bitcoin Cash. I think it has the ability to go up a thousand times where it is currently because it’s looking to become peer to peer electronic cash for the entire world.”
Ver then goes on to cite Warren Buffets famous ‘be greedy when others are fearful’ quote presumably in reference to the rock bottom BCH prices at the moment.
The host went on to ask whether there had been any major differentiation in usage between the two rival digital assets. ‘Bitcoin Jesus’ continued with his bashing of the coin that spawned his offshoot;
“The smart money is going into Bitcoin Cash because it has the economic characteristics that made Bitcoin popular to begin with. What everybody is calling Bitcoin today is just Bitcoin in name only. The technology and user experience that made Bitcoin popular is called Bitcoin Cash today,”
Crypto Community Reaction
The crypto community was not going to take this lying down and several threads were kicked off in a twit-storm including this one;
“Hey @JoeSquawk whats up with this reporting on bcash by CNBC? Roger is saying factually incorrect information about adoption and identity.”
Hey @JoeSquawk whats up with this reporting on bcash by CNBC? Roger is saying factually incorrect information about adoption and identity. https://t.co/Ros1O8Uihs
— Dan Hedl (@danheld) November 27, 2019
Some of the arguments against Ver’s claims were pretty pertinent and included a hash rate comparison of the two.
The crypto tribalism intensified with further comments increasing in vehemence;
“Did CNBC get paid out of the 200M ‘dev fund’ for this propaganda piece?”
From a price aspect, Bitcoin surged 260% this year before dumping 45%. BCH on the other hand managed just over 200% before dumping 56% in 2019 so big brother is clearly the winner in terms of performance.
It is uncharacteristic of CNBC to shill another altcoin with such leading headline but Ver is a prominent industry figure whatever people think of him.
The entire incident reemphasizes that crypto tribalism is still alive and kicking. Instead of bickering over which blockchain is better, energy would be better spent focused on the real enemies here which are the banks and governments that currently control the world’s money.
Image from Shutterstock
