Roger Ver’s newly announced cryptocurrency exchange wasn’t well-received by the crypto community. Bound to go live on Bitcoin.com next week, the exchange was heavily criticized on Twitter, with some accusing Ver of scamming people and using the platform to wash trade Bitcoin Cash.
Crypto exchange set to launch on Bitcoin.com receives community backlash
There are only a few people in the entire crypto industry whose name alone can cause a schism in the community. Roger Ver is one of them.
One of the earliest Bitcoin advocates and investors, Ver gained notoriety after forking Bitcoin and switching his allegiance to promoting Bitcoin Cash, a highly-contested offshoot (unlike Litecoin).
After successfully defending himself from a libel lawsuit by an equally contested figure in crypto, Craig Wright, Ver went on to announce that he will be launching a cryptocurrency exchange on Bitcoin.com
https://t.co/oQm91mDwaD is coming soon (September 2 ???)!
Prepare for:
– 50+ trading pairs
– BCH & more base pairs
– Future SLP token support
Pre-register now for exclusive rewards including 25% discounted trading and a prize pool worth over $10,000: https://t.co/3kt52vrTGq pic.twitter.com/5txvQvSh5C
— Bitcoin.com Official (@BitcoinCom) August 2, 2019
According to its official website, the exchange is set to go live on Sept. 2 and will support Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Binance Coin (BNB).
The exchange is Ver’s answer to the increasingly strict know-your-customer (KYC) and anti-money laundering (AML) protocols applied to cryptocurrency exchanges and marketplaces such as LocalBitcoins, in line with his hardline libertarian political views.
However, despite the generous rewards program offered by Bitcoin.com, the news about the exchange wasn’t well-received, to say the least. The crypto community seemingly hasn’t outgrown its distaste for Ver, who notoriously lied about the source of Mt.Gox‘s lack of liquidity.
Newly rebranded @Bitcoin account starts a Roger Ver roast on Twitter
With just a few more days left before trading on the Bitcoin.com exchange goes live, the crypto community seemed eager to put its two cents in. The newly rebranded @Bitcoin Twitter account—which was previously pro-Bitcoin Cash and seemingly controlled by Ver—now focuses on promoting pro-Bitcoin news and research. The account reached out to its 976,000 followers and asked what they thought of Ver’s exchange.
“Will it be more successful than MtGox? Will it be safe? Will you use it? What do you think about it?,” the tweet said, warning followers not to get Goxxed.
PSA: On Monday September 2nd @rogerkver will launch a new exchange on bitcoin(dot)com.
Will it be more successful than MtGox? Will it be safe? Will you use it? What do you think about it?
Please leave a comment about how you feel about this new exchange. Don't get #Goxxed! pic.twitter.com/PpjhczUaiu
— Bitcoin (@Bitcoin) August 30, 2019
Hundreds of Twitter users responded to the snarky query, with most saying they wouldn’t trust any service that’s backed by Roger Ver.
@rogerkver is a scammer and a fraud! No it I’ll not be safe and I will not use it.
— Colo Crypto ?? (@colo_crypto) August 30, 2019
I could never trust Roger.
— MyBrotherBilo (@CountinCrypto) August 30, 2019
Many accused Ver of being a scam and a fraud, as both Ver and his company continually refer to Bitcoin Cash as the “only Bitcoin,” thus misleading those interested in actually buying the original cryptocurrency, BTC.
This is what fraud looks like.
cc: @rogerkver pic.twitter.com/I4zm4cZK38
— Vortex (@theonevortex) August 30, 2019
It will be probably as weird as the whole bitcoin dot com site where everywhere "Bitcoin" is mentioned (Buy Bitcoin, Bitcoin paper wallet etc) but in reality you get trapped into #BCash.
— Kevin Zalokar (@kevinzalokar) August 30, 2019
Finally, some Twitter users said that they fear the Bitcoin.com exchange will be used for wash trading Bitcoin Cash to increase its liquidity.
The main purpose of that exchange will be wash trade for BCH, one of the shitcoins. He'll shill about low fee on #BCH. If 1 have to use BCH jst bcoz of its low transaction fee… What do you think about using any ALTs with better volume than BCH? Atleast, it will have liquidity.
— Sabin Pokharel (@sabinproo) August 30, 2019
