Roger Ver is the CEO and lead figure for the domain Bitcoin.com. Ver, one of the early Bitcoin and crypto investors have for long used the website to push his agenda with Bitcoin Cash [BCH].
According to the press release, Bitcoin.com added support for two tokens on its exchange: HEX and ACD (Alliance Cargo Direct) tokens.
HEX was available for buy by sending ETH to the HEX smart contract, much like any other ICO. Another portion of it was available to claim via the smart contract for Bitcoin holders through the app as well. According to their website, over $5 million in ETH has been invested in the ICO until now.
Leading derivatives trader and chart analyst, Tone Vays, has been particularly shunning the project over the last couple of weeks. According to him, it’s the classic definition of a ponzi scam.
The project offers a percentage annual return on the HEX tokens based on the holdings. Richard Heart aims to build a new banking system built on HEX. The execution of his purpose is far too complex to comprehend. For eg,
Early claimers get bonuses, late claimers get penalties. Pay bonuses to referrers and those referred. Pay the unclaimed coins and interest to those who time lock their HEX. Longer and larger stakes get more shares and the price per share only increases.
Furthermore, as reported on CoinGape yesterday, the token went down over 90% since its launch.
As the market continues to call Ponzi on the scheme, the HEX claimed using Bitcoin can be easily used to cause the dump. Moreover, the buyers seem to be avoiding the token at large.
Roger Ver Continues to strike Controversies in the Market
Crypto Twitter is rather, ‘not surprised’ by Bitcoin.com’s support to the plan. However, listing unregistered securities or decentralized cryptocurrencies has for long been shunned by the market. Moreover, the SEC in the US and other regulators around the world have put strict barriers to ICOs since the 2017 bubble.
There have been many instances in the past where the Ver has been accused of unethical financial practices. Samson Mow, the CSO of Blockstream tweeted,
What the actual f*ck @rogerkver?!
Mt. Gox is solvent
BitClub isn’t a ponzi
Buy some HEX
Furthermore, the primary project backed by Roger Ver has been Bitcoin Cash [BCH]. The supporters of the hard fork of Bitcoin [BTC] continue their efforts to increase the adoption and investment in BCH. However, the cryptocurrency is suspected to be controlled by a small group of stakeholders of miners and investors.
According to WhalePanda, a crypto analyst and early investor, Bitcoin.com is “desperate.” He tweeted,
“Why do you keep saying bitcoin com is desperate?? Do you have any proof?” Well… lmao (referring to the support to HEX)
“No one wants $ and no one is trading on either local.bitcoin.com and the other bitcoin.com exchange 🤣”
How do you perceive the actions of the domain managers and Roger Ver? Please share your views with us.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com