Early investor and one of the well known personalities in the crypto space Roger Ver delivered his verdict on the recent plummeting that the market has been suffering through. According to him, the multi-billion crash in prices seen since November 15th has nothing to do with the overall scheme of things that Bitcoin and other cryptocurrencies bring with them. Roger was speaking to BlockPublisher’s media partner EAK TV at the Decentralized 2018 event in Athens.
Roger went on to hint towards his long-term experience in the space, where he has made several predictions and opinions that have gone on to be true. With this one, he quoted one from a few years ago and seemed to stick by it through tough times, like the present. He shared:
A few years back I said that the price is the least interesting thing about Bitcoin. I think it’s still true today, I think price is the least interesting thing about these cryptocurrencies.
So what is the significance of prices, according to Roger Ver? He continued:
For me, I [guess] it’s more fun when prices are going up rather than when the prices are going down, but I don’t even check. I don’t worry about it in the short term because it is the fundamentals that drive the price in the long term.
As pointed out by Roger, prices are merely just another part and parcel of the overall scheme of the market. He continued to explain how usability matters more than anything else and if that is achieved, price will come as a natural consequence. He said:
So if a cryptocurrency is really useful to the people, as cash, more and more people are going to start using it and if that happens, because the supply is limited, prices will go up in the long term. So, the long term picture is brighter than ever.
That being said, what is the ultimate weighing factor that evaluates if a particular cryptocurrency is meant for bigger things and if the market will be able to show support in the form of greens? Roger explained for it to be “what cryptocurrencies enable you to do”. He masterfully declared:
The exciting things are what these [cryptocurrencies] enable people to do. It enables people to transacting commerce with anyone, anywhere, instantly, basically for free and there is nothing that anybody can do to stop it and cryptocurrencies are able to do that whether they have a market cap of 10 million or 10 billion or 10 trillion.