Altcoin News Crypto News

Allegations against Roger Ver creates friction in Crypto community

Allegations against Roger Ver creates friction in Crypto community

As per new reports, few people within the crypto space claim that Roger Ver can be accused through a legal lawsuit. They believe that he intentionally called bitcoin cash, BCH, as bitcoin. Experts do confirm that Roger’s statement is capable of inducing confusion among holder and prospective buyers. However, filing a legal report against him is not a piece of cake.

It is being said that allegations against Roger are too weak to come down on legal grounds for a lawsuit. Instead, there can be a case against him for promoting bitcoin cash in the name of bitcoin. There can be many people who bought and sold BCH thinking it was BTC and suffered losses. Being the owner of the largest bitcoin cash portal on earth, Roger has a huge power of influencing the crypto market. This could be used against him in the court of law, but the allegations have to be strong enough to create ripples in the

The people who are against him should be ready to engage in a face to face war with the opposition party including Ver and Bitcoin.com. The head honcho has all the resources available to hire top-notch legal representation which can settle the dispute before it even gets started. In case the accusers do not have deep pockets they are bound to go through hard times. Ver’s firepower enables him to conclude the case outside the court in the case of a civil lawsuit. Settlement outside the court would even swipe away the possibility of an admission of guilt.

After settling the case outside the court, he will be ordered to eliminate the use of “BCH is the real Bitcoin” from his marketing campaign. But, that cannot stop anybody else from using the phrase for him.

If the aim of accusers is to stop him from using the popular phrase, then they might get successful. If they are filing a case to harm the reputation of the crypto entrepreneur or send him to jail, then their actions will possibly backfire.

A 2017 Yale Law School graduate, Misha Guttentag, has also been asking Ver to stop bitcoin cash’s sale as it is confusing newbie investors. Guttentag wrote on Medium, “Bitcoin Cash (BCH) is marketing itself as Bitcoin (BTC), scamming consumers into thinking they are buying Bitcoin at a lower price. Its backers use at least three sites to perpetuate this scam—Bitcoin.com, Reddit (r/BTC) and Twitter (@Bitcoin). Bitcoin Cash (BCH) is purposely misleading consumers into thinking they’re getting Bitcoin. The longer it stays on Coinbase, the more it looks like Coinbase is endorsing that scam.”

AS of now, the community blaming him does not have any option but to wait and see the repercussions of its actions. The initiative can only become successful if it prevents him from calling bitcoin cash the real bitcoin. Moreover, the chances are high that these altercations within the crypto space will work as fuel in the regulatory authorities vs. digital currencies battle. There is a clear difference between bitcoin and bitcoin cash, and inexperienced investors should be well versed with the abbreviations before using their hard-earned money.

About the author

mm

Brian Booker

An international financial analyst and writer. He has consulted for the Malaysian government, various MNC’s, and other organisations. He focuses on currencies, commodities, and emerging South East Asian markets.

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *