Bitcoin (BTC/BCH)–Roger Ver, the at times controversial figure associated with Bitcoin Cash and the current CEO of Bitcoin.com, has come out in a recent video stating he is considering an ICO for the aforementioned website.
While Bitcoin Cash prepares for the advent of the Wormhole Cash protocol, a new development that will allow for the creation of novel tokens on the BCH platform (similar to TRON and Ethereum), Ver is considering issuing an initial coin offering to supplement the function of Bitcoin.com.
In a video first published on August 11, Ver and Bitcoin.com lead developer Corbin Fraser were discussing the possibility of future developments related to BCH and the flagship website. Addressing the token creation afforded through Wormhole Cash protocol, Fraser gave a tongue-in-cheek response to the new development,
“For better or worse, ICOs and CryptoKitties are probably coming to Bitcoin Cash in the near future.”
Crypto Kitties is a reference to the popular game that has accounted for substantial volume on Ethereum’s network, a implementation of Dapps that Bitcoin Cash could follow with the onset of Wormhole.
Ver, in response to the comment of gaming and ICOs being integrated onto the BCH network, then revealed that he was considering issuing an initial coin offering for the Bitcoin.com platform–a website that has accounted for back and forth controversy in the debate over Bitcoin and Bitcoin Cash,
“They’re probably coming to Bitcoin.com, too. We’ve been thinking about having our own ICO for maybe the games part of the platform; maybe we’ll issue a token and pay dividends or use part of the money… to buy back the tokens on the open market.”
An ICO model changes the landscape of Bitcoin.com, which has traditionally been viewed as an outlet for information for those new to cryptocurrency (again, highlighting the disagreement between BTC and BCH proponents). Gaming would constitute an entirely new atmosphere for the site, while a dividend paying ICO through would make for an interesting proposition, given the website is Bitcoin.com.
Cointelegraph points out the relationship between Bitmain, which is planning to hold an initial public offering (IPO), and the aforementioned plan by Ver to launch an ICO. Along with Roger Ver’s Bitcoin.com, crypto mining operation Bitmain makes up the majority of the base for Bitcoin Cash, having been the two largest supporters since the coin forked last August. However, despite the boom in cryptocurrency experienced last year, Bitmain has been tied to cash flow difficulties, leading analysts to believe the relationship with BCH has proven to be less than profitable. An IPO would help remedy the losses sustained through supporting BCH, while a similar ICO move could do the same for Bitcoin.com.
On August 11, Blockstream Chief Strategy Officer Samson Mow shed light on the Bitmain BCH situation, saying via Twitter,
“According to the Bitmain pre-IPO investor deck, they sold most of their [BTC] for [BCH]. At $900/BCH, they’ve bled half a billion in the last 3 months”
According to the Bitmain pre-IPO investor deck, they sold most of their #Bitcoin for #Bcash. At $900/BCH, they've bled half a billion in the last 3 months. If Bitcoin Core devs didn't disclose the Bcash vulnerability, it could've wiped a billion dollars off their balance sheets. pic.twitter.com/9BMywdvvby
— Samson Mow (@Excellion) August 11, 2018