Roger Ver Of Speaks Out About Cryptocurrency And Social Media Influence

One of the biggest ways that cryptocurrency is different from the traditional market is the influence that it has from the public. It isn’t just about the spending that investors perform; it also is driven by popularity and the hype around any individual coin. Recently, CEO of and early BTC investor Roger Ver decided to speak out the way that these factors relate to the cryptocurrency community.

The first topic of discussion had to do with the recent 50 Cent Party, and how it interacts with cryptocurrency. This group is controlled by the authorities in China, and their goal is to manipulate what the public believes, based on what the authorities want the industry to think. The group originally was created as the internet was started, and there’s was a payment of 50 cents Renminbi for the individuals who commented online in correlation with the desire of the authorities.

As Ver sees it, there’s a connection between these comments before and the comments that are now being seen in the cryptocurrency community. Ver went further, saying, “If you go and look at a lot of popular things, you will see all sorts of comments from people who don’t even necessarily seem to be people.”

Ver then discussed the current situation with something he’d seen in June 2011, when BTC surged from $2 to $30. At the time, was flooded with comments about the varied price.

However, Ver said,

“… there was no depth in the conversation and it turned overnight, [from what] used to be a wonderful platform for discussion of Bitcoin, into just a bunch of nonsense and fluff and it wasn’t even usable at all at that point.”

He brought the attention to Zhou Tong, who is the founder of Bitcoinica, an exchange that was ultimately shut down after a hack compromised its security in 2012. As a result, Tong posted on Bitcointalk with negative opinions about the community, which opened the door for bots to elaborate. Ver believes that most of the talk amounts to nothing more than “fluff,” noting that anyone with real knowledge of Bitcoin would know better, and he believes they are just being paid off.

Ver added,

“… and it is happening all over the cryptocurrency ecosystem. I’m sure it’s not just happening to Bitcoin Cash ecosystem, it’s happening all over the place, but Bitcoin Cash specifically… One time, Adam Black, the CEO of Blockstream eluded to the fact that it is a full-time job of a whole bunch of people to, I think he put it as like, dispel the myths or something like that online.”

Consequently, with his accusations of false comments against cryptocurrency, he’s gotten backlash from some people who believes that he’s hiring people do to do the same thing in support of Bitcoin Cash. However, the proponent has denied involvement and believes someone is out to attack Bitcoin Cash.

In the meantime, some investors don’t know what to believe, calling Bitcoin Cash a scam, and saying that Bitcoin isn’t “meant to be for used on-chain for payments for things like coffee.”

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