Roger Ver offers OpenNode $1.25 Million to Build on Bitcoin Cash, Gets Denied
- Following the news that venture capitalist Tim Draper has invested $1.25 in the promising startup, the early Bitcoin adopter and Bitcoin Cash advocate came up with a matching proposal himself.
- The unfortunate outcome did not deter Roger Ver from pursuing his goal of global merchant adoption for Bitcoin Cash.
Following the news that venture capitalist Tim Draper has invested $1.25 in the promising startup, the early Bitcoin adopter and Bitcoin Cash advocate came up with a matching proposal himself.
He offered to double the investment money for OpenNode, while not requesting any equity in return. His only demand was for OpenNode to build on Bitcoin Cash. Justifying his generous offer, Roger Ver claimed:
“I don’t want to be on the opposite side of an investment from Tim Draper.”
His offer was denied, with OpenNode publicly stating that their vision for an open financial system is only possible with BTC.
Reading between the lines, the situation can offer some valuable insight into the decision making and future plans of some of the big players in the cryptocurrency sphere.
- Roger Ver is an early investor in Bitpay, Blockchain.info, Kraken, Local Bitcoins, Bitstamp and Binance, all of which are remarkably successful startups turned multi million (in some cases billion) dollar businesses. His offer indicates that he sees OpenNode as another success story in a few years.
- Adoption-focused Ver is willing to spare no expense to keep Bitcoin Cash level in terms of merchant support. The OpenNode reaction is a big hit to his ambitions.
- OpenNode utilises the Lightning Network to scale to a massive number of transactions per second. Roger Ver has never been an opponent of the Lightning Network itself – just the idea that no on-chain scaling should happen on Bitcoin. His offer implies that a Lightning Network might be built on top of Bitcoin Cash, which considering that Ver is funding both the Bitcoin ABC and the Bitcoin Unlimited implementations of BCH, could become a reality in conjunction to the otherwise scale-focused ambitious Bitcoin Cash roadmap.
The unfortunate outcome did not deter Roger Ver from pursuing his goal of global merchant adoption for Bitcoin Cash. Later during the same week, in a joint press release, Tokyo-based ACD and Bitcoin.com announced an cryptocurrency-adoption-focused strategic partnership, with Ver promising there’s an even bigger announcement coming in the very next bitcoin.com vlog on January 2nd.
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