Roger Ver Reiterates the Opinion of Full Blocks Hampering Bitcoin’s Global Cryptocurrency Adoption

As most of our readers are probably well aware of, Bitcoin [BTC] is currently the largest cryptocurrency in the world (in terms of its total market capitalization). In this regard, ever since the digital token market took off in a big way some years back, a lot of people have been quick to adopt BTC. However, folks like Roger Ver are of the opinion that the premier asset’s limited block size is preventing the currency from being adopted widely across the globe.

More On The Matter

Since its inception, BTCs blocksize has been limited to just 1MB — a block limit that worked well back in the day when the premier altcoin’s native tx rate was much smaller. However, since then more and more people have begun to make use of the asset, as a result of which the currency’s block capacity has become exhausted (which has, in turn, led to an increase in native tx fee rates).

  • Statistical studies have shown that Bitcoin’s 1MB block size was exhausted all the way back in January 2017. As a result of this, the “asset’s market cap percent as fees increased due to a halt in adoption”.
  • Additionally, due to BTCs limited block size, the currency had to be forked a couple of years back — which resulted in the creation of Bitcoin Cash [BCH].

Final Take

In closing out this piece, it should be pointed out that since Ver is a strong supporter of BCH he probably has vested interests in slandering BTC.

Lastly, in a recent interview with a respected media outlet, the crypto savant stated that BTC’s core dev team has time and again refused to increase the token’s block size because of selfish reasons.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,484FansLike
2,795FollowersFollow
4,267FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Crypto Exchange Gemini Makes an Aggressive Move, Adds 15 Hot DeFi Tokens

DeFi is all the rage in today's crypto world, and no one wants to be left behind, especially cryptocurrency exchanges. Over the past few months,...

Ethereum ‘Getting Ready for Spadina' Testnet Next Week

The Spadina testnet of ETH 2.0 has been scheduled for genesis before the month ends, on September 29 at 12 pm UTC, as per...

KuCoin Hack: Exchange’s Insurance Fund to Cover User Loss “Completely,” Tether Freezes 33M USDT

The Singapore-based cryptocurrency exchange KuCoin released a statement regarding detecting large withdrawals on September 26, 2020, at 03:05:37 (UTC+8). The exchange has reportedly lost $150...

Crypto Custodian, Anchorage, Adds Support for DeFi Tokens: BAL, NXM, AAVE, UNI, and YFI

Anchorage, the Delaware corporation headquartered in San Francisco, California, and digital asset custodian for institutional investors is diversifying its DeFi token options for its...

Coinbase Wallet Targeted by New Trojan Malware Dubbed ‘Alien’

The Coinbase wallet is among 226 Android applications targeted by a recently discovered Trojan dubbed ‘Alien.’ This malware mostly targets the financial services space...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today