Bitcoin News

OpenNode Rejects Roger Ver’s Million Dollar Offer; Says No to Bitcoin Cash


A Bitcoin payment processing company OpenNode has denied accepting the fund offer of $1.25 million by Roger Ver. Ver is a powerful Bitcoin Cash (BCH) advocate. Actually, Ver wanted OpenNode to switch itself from Bitcoin to Bitcoin Cash. But, OpenNode has firmly refused Ver’s offer just by saying that THE company will not be able to attain better and more open financial system through Bitcoin Cash.

OpenNode also stated that instead of accepting Bitcoin Cash, it would like to spend all of its resources on Bitcoin and second-layer payment solutions associated with it. This Bitcoin payment processing firm is aimed at processing real-time Bitcoin deals for enhancing the promotion of digital currencies among various enterprises and businesses.

Moreover, it encourages a different kind of network, which is known as the Lightning Network. This network is a second layer payment contract started to confirm Bitcoin deals that are distant from the major blockchain. Also, OpenNode has made $1.5 million in seed funding from investor Tim Draper’s side.

Ver thinks that Lightning Network is not the perfect solution for resolving the issues associated with the scalability of Bitcoin. So, he tried to match Draper’s bid and got ready to invest in OpenNode. He stated that he would invest $1.5 million on OpenNode project if OpenNode agrees to accept Bitcoin Cash on the place of Bitcoin. In other words, Roger Ver wanted OpenNode to use only Bitcoin Cash as the payment processing contract. Ver also told that it would take around two centuries for the world to enter Network Lightning solution. But if we replace Bitcoin with Bitcoin Cash, the estimated time would reduce to 50 Years only. Roger stated:

“Bitcoin cannot become the money for the world in a reasonable amount of time with its block size limited to 1 megabyte to 4 megabytes”.

Many people from the community were against Roger Ver’s opinion. They said that Ver tried to manipulate mathematics in order to prove his agenda.

Bitcoin is the world’s most popular cryptocurrency. The main reason behind the success of Bitcoin is Blockchain technology. This is an innovative technology that provides decentralization and topmost security to Bitcoin.

Not only cryptocurrencies, but blockchain technology can also boost the growth of various fields like Healthcare, Medicines, Logistics, and Finance. Decentralization and high tech security are the most significant properties of this amazing powerful technology.

Leave a Comment

Your email address will not be published.

You may also like