“Bitcoin Jesus,” also known as Roger Ver, an early promoter and investor in Bitcoin, CEO of digital-coin wallet provider and media Bitcoin.com, shed some lights on the plans of building own crypto exchange during an interview in Malta, reported Bloomberg earlier.
There were a very few details uncovered by the source. Those mostly included thoughts spilled out loud on whether it makes sense to build it “cheap” and “fast” “internally” or try to think of creating something that might have a “security of a battle-tested exchange that’s been around for a while.”
The primary reason to build the product, according to Bloomberg is “to gain traction” for Bitcoin.com “via a trading platform.”
Most of the placements are sold out at the moment of writing, and with $10-14 per thousand of views, given millions and millions of unique visitors per months (3,63 million as estimated by SimilarWeb in September 2018) ads up in a massive pile of money.
Roger Ver seems to be always excited about the idea of being a part of a prominent crypto exchange. As he put into his Twitter profile’s bio himself: “World’s first Investor in Bitcoin startups including… Blockchain.com,… BitPay, Kraken, Purse.io …”.
And taking into consideration his past and active involvement in some particular projects in the space, it’s obvious that Roger is interested in more than investing.
When Mark Karpelès bought Mt. Gox from its creator Jed McCaleb, the ingenious developer behind Ripple and Stellar, back in 2011 he experienced first challenges with brutal exchange hacks. When the site went offline for several days, it was Ver who helped out to fix the problem. Over the years, in a way, he was nurturing and mentoring Karpelès although reportedly admit that his managing skills and overall business acumen weren’t marvelous. Moreover, as one Mt. Gox employees put, Mark was more “obsessing over quiche, not bitcoin.” And even though Roger was in constant contact with Karpelès and could see that he’s not the right guy to run the business, it was still fine by Ver.
We all know how the story ends: 850,000 of its Bitcoins, representing 7% of all Bitcoins in existence at the time of the horrific announcement, in March 2014, had somehow disappeared.
Another example of Ver’s active involvement into crypto exchange was BitInstant, the company which partnered with payment processors that had physical locations at CVS, Duane Reade, Walmart. Its CEO, Charlie Shrem, founded the firm at the age of 22 and didn’t have vast management experience, strategic vision or any of that, straight out of Brooklyn College with a Bachelor of Science Degree in Economics and Finance. Nevertheless, Ver invested in the company and even paid for Charlie’s attorney’s fees, when Shrem was arrested back in 2014 for “conspiring to commit money laundering by selling more than $1 million in bitcoins to users of the black market website Silk Road, a site that let users buy illegal drugs and other contraband anonymously. BitInstant went blank at that time.
Roger Ver later admitted his poor character judgment abilities himself calling Charlie a “jerk.”
However, it’s not yet obvious if more jerks will be involved in building the new exchange, announced by Ver in Malta. Future Times will be following the story.