Business 31 December 2018

Erik Gibbs

New Bitcoin Core payment solution rejects Roger Ver’s marriage proposal

OpenNode is a newish payment processing company for Bitcoin Core (BTC). It is built on the Lightning Network, which is still working out bugs a year after being introduced, and promises to offer a cheaper and faster BTC payment option than most of the other processors in the cryptocurrency market. OpenNode was able to attract a significant investment, $1.25 million, by Tim Draper, but a recent attempt by Bitcoin Cash (BCH) proponent Roger Ver to expand the platform’s capabilities was met with an immediate rejection. 

Ver had reportedly offered in a YouTube video (fast-forward to around the 21-minute mark) to invest $1.25 million in OpenNode – in exchange for zero equity – if it would develop a payments solution for BCH. The investment would ultimately amount to nothing more than a million-dollar donation since “Crypto Jesus” didn’t want “even one share” in OpenNode. 

Perhaps he was just feeling the Christmas Spirit, or dipping into the Christmas spirits. Those are the only two reasons why someone would be willing to make such a sizeable donation with no possibility of making a direct return. 

With that type of money, if Ver needs to find a suitable payment solution, it would make sense that he could source his own development team. Given that the YouTube video begins by completely tearing apart the Lightning Network as not being a viable solution – at least not for the next 30 or 40 years – it is mind-boggling that he would turn around and offer the same BTC payments processor money to create a solution for BCH. 

OpenNode didn’t bite. In responding to the video on Twitter, the company stated, “Thanks for the $125MM offer @rogerkver, but we’re going to have to turn it down. Our vision of a better, more open financial system is only possible with Bitcoin.”

At least OpenNode recognizes a wolf in sheep’s clothing. After all, Ver is the man who has lobbied for governments to be overthrown and who doesn’t see anything wrong with sites that promote illegal and criminal activity. 

Of course, what most are now referring to Bitcoin is everything but Bitcoin. The only cryptocurrency that is still moving forward in accordance with the original design of Bitcoin as outlined by Satoshi, and the only one that understands the true value of digital currency, is Bitcoin SV. Bitcoin SV is determined to allow the world to see a true cryptocurrency that functions as an alternative to fiat and which is working to meet the scaling demands necessary to achieve worldwide adoption.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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