Roger Ver, Chief Executive Officer of Bitcoin.com, is considering developing his own exchange. In an interview with Malta, Ver said “if we build it ourselves, we can do it really, really cheap, and we get exactly what we want.” Ver has been interested in crypto since the early days of Bitcoin and has received backlash for switching to Bitcoin Cash. So Ver is not unfamiliar with going the road less traveled.
Ver can leverage his website traffic from Bitcoin.com to give himself a leg up on the competition, namely other new startup exchanges. The exchange “will be posted on Bitcoin.com so we’ll have thousands or tens of thousands of new users every single day.” That’s a lot of eyes on a brand new exchange that serves a less popular cryptocurrency. Bitcoin Cash would then become the main currency of the exchange of course, which would help get Bitcoin Cash a little lift since it’s had a difficult time gaining a stronghold in the crypto space since its introduction.
Ver does warn that he “[doesn’t] have the security of a battle-tested exchange that’s been around for a while.” There have been a lot of hacks in these past few years and distrust has slowly crept into crypto communities. If Ver has any security issues, the proper amount of time needs to be taken to address them. People are not as forgiving as they once were as the newness of the digital currency has begun to wear off. Bitcoin Cash already is not as trusted or favored as Bitcoin and Ver has already been labeled a bandwagoner. Bitcoin Cash is also facing the question of their survival with another hard fork coming soon.
Ver should tread lightly; the recent hacks, crashes, regulations, international unrest surrounding crypto, etc, creates tensions. You can’t pull money out of nothing by simply tweaking a code and placing Bitcoin in the name. However, if Ver is confident in his exchange’s abilities and the currency it supports, the only thing left to say is: If he builds it, they will come.
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