The Year of Crypto:2019; What Roger Expects for BCH Next Year
This year has been tuff for the entire crypt market, and BCH is no exception: following its hard fork that gave birth to Bitcoin ABC (now Bitcoin Cash) and Bitcoin SV, the offshoot of the genuine cryptocurrency was often blamed for the subsequent market downfall. However, its fans believe that the next year will bring green changes and adoption rates for the coin.
What is now known and accepted as Bitcoin Cash is the so-called “conservative” option, led by Bitcoin Cash enthusiast Roger Ver, the subsequent, and had big supporters represented by mining hardware giant Bitmain. This side thought that there is no need to change the structure of BCH radically, although the future plan leaves some room for the year will, as opposed to Bitcoin SV, which pushed for more rapid changes in the issue.
Will it go to the Moon or not?
Recently BCH ranked 4th by market capitalization, Bitcoin Cash had gone through many of the same problems that other cryptocurrencies did throughout 2018. Bitcoin Cash soared to over USD 4,000 per coin in last year’s epic bull run but has now fallen a staggering 97% from those highs. However, if BCH will rally again in 2019 or if it crashes to the ground – nobody can tell, not even their strongest proponents.
Roger Ver, cryptocurrency analysist and one of the main backers of Bitcoin Cash, said with Cryptonews.com that it’s not possible to know what the rate will be as “the market is made up of millions of traders with their own needs, desires, and targets.” Refraining from giving an approximate on price doesn’t mean he does not believe in the future of crypto: “I’m incredibly bullish on the complete crypto ecosystem, and Bitcoin Cash specifically.”
Ver Calls for Censorship Resistance Through New Technologies
More significant than price, in Ver’s opinion, is the cryptocurrency ’s capacity to withstand attempts at censorship. To the asking mark of what he hopes in 2019 in terms of cryptocurrency rules and regulations, he said, “I’m looking forward to using cryptocurrencies to undermine the capacity of the state to control society.”
It goes hand in hand with the Bitcoin.com Oracle, which “will be launching in full soon,” although he didn’t disclose any details other than naming censorship resistance as one of its most prominent features. The autonomous feature will allow specialized prediction markets and decision-based transactions for sports scores, political results, and market exchange rates – perhaps similar to Augur, a DAPP on the Ethereum blockchain, which is best familiar as a prediction market.
As the Bitcoin Cash network upgrades in May and November, the protocol and its scripting language is now far easier for coding smart contracts, decision-based transactions, and predictive oracles, says the press release for the feature, adding, “By building the Bitcoin.com Oracle, we plan to utilize the benefits of the BCH network and all the new features added during the last upgrades in order to provide verifiable multi-sourced facts.”
This is not the only technological advance of Bitcoin Cash that should launch in 2019: “I’m also very excited about our Coin Shuffle secret tool coming to the Bitcoin.com wallet very recent,” Ver tells us. This feature, named Cash Shuffle, will lend Bitcoin Cash an additional privacy layer, letting users combine your transactions with other transactions for the purposes of obfuscating them. Cash Shuffle claims there are no additional fees and no counter-party risks connected.
“Coin Shuffle is an excellent protocol once the participants for a joined transaction have already been chosen,” explains Coin Shuffle’s website. “However, it provides no means for establishing such groupings. Cash Shuffle builds upon CoinShuffle and adds a matching service. As such, it is a more complete and usable protocol.”
Will People Opt for BCS More?
Roger Ver says that adoption will be rapid for Bitcoin Cash than BTC itself. “Adoption in commerce is fundamental to crypto adoption. Complete blocks and high fees drive that adoption away,” he recently tweeted. He has previously stated, “If BTC were to add a million users this week, the fees would skyrocket, and the network would grind to a crawl. If BCH were to add a million users this week, the fees would continue to be almost free, and the network would continue to be lightning fast.”
However, the adoption of Bitcoin Cash remains murky: only 67 BCH wallets hold over 56% of the currency, which is not seen on any renowned crypto exchange. Although BCH bulls, such as Ver, may remain undeterred in their belief that BCH will reach mass adoption, others are more often cautiously optimistic. “The silver lining of the market drop may be that those in the technology, no longer intimidated by the high price point, will take the plunge and begin experimenting with crypto,” says Brian Norton, COO of MyEtherWallet, the oldest ETH wallet in the space.
What Does 2019 Bring for Us?
Although specific predictions in terms of rate and consumption can be tuff to create, the technologies around Bitcoin Cash could guide to both of these. Other than the shuffling technology and the estimation market, there had been talks earlier this year about a potential cryptocurrency exchange, although Roger Ver did not mention this now.
Whether or not BCH will exit the shadow cast by its older sibling Bitcoin in 2019 is not possible to estimate, but the new latest features – as tangible news – might bring interesting news in the cryptocurrency industry. And while crypto is grabbing the brunt of regulations from the United State’s Securities and Exchange Commission (SEC) as well as other regulatory authorities, Roger Ver tells us his New Years wish: “I wish the world would have a stronger understanding of economics, and that the real results of government policies are more significant than the intentions.”