"Bitcoin Jesus" has high hopes from Bitcoin cash in the near future.
Roger Ver, who was one of the first investors of Bitcoin and thus earned the name "Bitcoin Jesus", said that more people are moving towards Bitcoin cash and away from Bitcoin Core. For those who don't know, Bitcoin Cash is a blockchain technology that branched away from Bitcoin last year, after which Bitcoin was referred to as "Bitcoin Core".
In an interview with CNBC, Ver said that Bitcoin Core has now become slow, unreliable and expensive. On the other hand, Bitcoin Cash is tailor-made for monetary transactions. Ver further said that the reason why Bitcoin Cash would succeed is the same reason why Bitcoin succeeded: providing technology that works. Currently, transactions for financial purposes are the primary reason people use cryptocurrencies, and it would only continue to grow in the future. Thus, a blockchain was required that makes coin transactions easier, and Bitcoin Cash was just right for it. Being faster, simpler and more reliable than Bitcoin Core, Bitcoin Cash might soon become the default blockchain technology upon which transactions are made.
Ver's claim seems correct because bitcoin cash has made some impressive breakthroughs recently. On Tuesday, a new blockchain was introduced that had 32 MB block size limits. Even though the update led to a crash of value for bitcoin cash, it was just a temporary reaction from the market anticipation. Many experts, Ver included, believe that Bitcoin Cash would soon make a comeback. Already, Bitcoin Cash has doubled its value to $1300 from the $763 mark on April 17. In the last month, it was the best performing cryptocurrency among the big names, beating the likes of Ethereum and Bitcoin. Market experts anticipate Bitcoin Cash to double its value further by the end of this year.