Bitcoin Jesus Roger Ver is convinced that the increase in Bitcoin’s value over the last few weeks of 2017 will continue.
Even though Bitcoin’s rapid rise has slowed somewhat and the thousand dollars have not been reached, many experts are still bullish.
Next month Bitcoin will be eight years old. Within a week, the share price rose by more than twelve percent. Bitcoin experts are therefore convinced that the uptrend will continue in 2017.
Roger Ver, the person behind Bitcoin.com, is even sure that 2017 will be the best year for Bitcoin. He commented on some of the current issues within the Bitcoin ecosystem and what role they would play in 2017.
2017 – the year of the Bitcoin formula?
Ultimately, there have been some attempts to list a Bitcoin formula exchange-traded fund (ETF) on stock exchanges. In 2013, the Winklevoss twins tried to get an Bitcoin formula approved by the US Securities and Exchange Commission (SEC).
It is now hoped that a Bitcoin ETF will become a reality in 2017. This would make the Bitcoin “mainstream” in a positive respect and steer the ecosystem around the crypto currency towards its best times. Roger Ver is one of those who look to the future with such optimism.
“Ultimately this would have been possible since the Genesis Block. The regulators, however, have opposed it and so opposed millions of people worldwide.”
Blocksize – the big challenge for Bitcoin trader
What may well be cause for concern is the Bitcoin trader debate: it continued to boil up in 2016 and even now, at the end of the year, no final Bitcoin trader review is in sight. The resulting high duration of transaction confirmations leads to a flight to alternative crypto currencies.
Whether there will be the often announced hard fork – in the Bitcoin context an upgrade of the Bitcoin protocol without changing the blockchain – in 2017 is from Roger Vers’ point of view a “15 billion dollar question”. Unfortunately, there is no concrete answer yet.
Finally, Roger Ver and many others are optimistic about the development of Bitcoin next year. While the block size debate remains one of the major stumbling blocks on the development path of the entire Bitcoin ecosystem, solutions such as Bitcoin Unlimited or Segregated Witness are being eagerly pursued from several sides.
Precious attracts hackers. We still remember the Bitfinex hack, in which many millions of dollars could be captured by exploiting a poorly implemented multi-signature wallet.
Within the community, there is concern that more such hacks could lead to people jumping out of Bitcoin again and the value of Bitcoin falling back into the basement. Roger Ver sees things differently:
“One must not forget that none of these Exchanges has a significant market share. The hack of one of these Exchanges should therefore not have a long-term effect on the Bitcoin price.”
Roger Ver: Bitcoin regulates governments
Yes, this heading is deliberately formulated as upside down: One trend in 2016 was that governments made a complete turnaround in Bitcoin’s regulation: Countries like Russia or Vietnam, after years of banning or even banning crypto currencies, have had to accept that crypto currencies are unstoppable.
Japan even went so far as to abolish the sales tax on Bitcoin transactions.
How will that continue in 2017? Will there still be strict regulations against Bitcoin in 2017? Roger Ver is very optimistic here:
“Of course – that is ultimately what governments do. In the long run, however, Bitcoin will regulate governments and not vice versa.