Roger Ver believes Bitcoin’s days at the top of the crypto tree are numbered. In an interview with The Independent, the former Bitcoin evangelist said that other cryptocurrencies were more technologically advanced than Bitcoin. He identified Ethereum and Bitcoin Cash as the harbingers of the coming flippening.
Bitcoin is Outdated
Roger Ver used to be one of the staunchest Bitcoin proponents around. These days, however, his tent is firmly pitched in the Bitcoin Cash camp, the first and most popular of all the Bitcoin forks. According to Ver, Bitcoin is outdated when compared to the technically superior features of the other coins presently in existence.
Ver believes that Bitcoin’s technology is rife with defects. These defects will ultimately lead to reduced interest in the premier cryptocurrency. In his opinion, many of the more than 1,600 digital currencies currently in existence have been developed to offer more robust and efficient solutions that Bitcoin.
Both Ethereum and Bitcoin Cash Will Overtake Bitcoin
Ver states that Ethereum and Bitcoin Cash will experience significantly higher growths than Bitcoin in the coming months and years. He even goes as far as predicting that Ethereum will overtake Bitcoin before the year is out, with Bitcoin Cash taking center stage by 2020.
I see it happening, and I believe it’s imminent. Ethereum could overtake Bitcoin by the end of the year, and Bitcoin Cash could do the same before 2020.
This series of events, known as the flippening, will occur when Bitcoin is no longer the dominant digital currency in the crypto market. According to Ver, Bitcoin’s modest gains over the next few years and months will be unable to keep up with the relentless march of Ethereum and Bitcoin Cash.
Bitcoin Can and Will Adapt
Not everyone agrees with Ver’s logic, however. Some experts believe that Bitcoin can assimilate any paradigm-shifting technology, thus maintaining its dominance of the market. Michael Jackson of venture firm Mangrove Capital Partners believes that Bitcoin will overcome the problems currently facing the network:
There is so much talent in the crypto space, and people are working on solving these scalability problems. I don’t see why bitcoin shouldn’t remain in the number one spot. It is still by far the best known, and it is ultimately the reserve currency in the space.
Do you agree with those who say the so-called “flippening” is nigh? Let us know your thoughts in the comment section below.
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