Cryptocurrency

Is Inflation Stealing Your Wealth? Roger Ver’s Stance on it

Roger Ver, the ‘Bitcoin Jesus’, expressed his views on how the government makes use of inflation in order to nick people’s wealth. He supported his statement with a picture depicting how twenty dollars could earn people things such as 482 gallons of gas, 472 gallons of milk, 675 dozens of eggs, 2700 first class stamps in 1932. Whereas, with the same 20 dollars the user in 2018, can buy 7 gallons of gas, 6.3 gallons of milk, 10 dozens of eggs, 40 first class stamps. He basically tried to show how the power of money and therefore the ‘buying power’ of the user has got depleted dramatically down the years due to inflation.

His tweet got 477 retweets, 1322 likes, and 94 comments. The reciprocators were divided into for and against the motion. On Ver’s Twitter post, one of the Twitter users with the profile name- ‘Libertas’ said-

Some users had views such as alt coins stealing people’s money, others pointed at the ratio of the wages people used to get in 1932 to the current times, while other views included topics such as savings, blames on Bitcoin Cash, gold prices, 98 percent loss of the fiat values, support for small scale inflation acting as an incentive for investments etc, and so on.

Roger Ver is among the few people who made serious investments in BTC in 2011. Moreover, Ver’s company has been the first one to accept cryptocurrency as the mode of payment. He was a darling of BTC community until he joined the BCH camp. He has been quite vocal about his views on Bitcoin, Bitcoin Cash, economy, investments in cryptocurrency through various channels such as social platforms like Twitter, YouTube Videos, and other sources such as personal interviews.

Ver is currently staying in Japan as his permanent residence. He has been permitted to visit the United States as many times as he can during his ten-year multi-visit visa. Born in California, Ver renounced his U.S. citizenship back in 2014. He has been living in Japan since 2005, after spending ten months in prison in the U.S. because he sold fireworks on eBay.

Earlier this month, Ver gave an interview. In the interview, he was asked about him standing against #DeleteCoinbase Campaign and his view on the hiring of the Hacking Team members. On this, he said that he was-

Incredibly troubled. That was a really, really stupid mistake on their part. But people make mistakes sometimes, and I don’t think that it was an intentionally bad mistake on Coinbase’s part. Once they saw the error of their ways, they fixed that. And Coinbase has on-boarded millions and millions of people to cryptocurrency. I think Coinbase is a huge net positive for not just cryptocurrencies, but for the world. I am not here to be popular. I’m here to advance the knowledge and understanding that I have of the world and help with the knowledge and understanding other people have of the world we live in.”

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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