Bitcoin.Com Is Eyeing a Bitcoin Cash Derivative


Roger Ver, one of the most prominent crypto evangelists in the industry and Bitcoin.com backer, is trying to make Bitcoin Cash a more lucrative option for the users.

Improving interesting in Bitcoin Cash

Bitcoin Cash (BCH) is a fork of the Bitcoin Core (BTC) blockchain which promised faster transactions. However, over the years, two camps developed within the BCH community, eventually leading to a fork-of-a-fork. Now, Bitcoin Cash is divided into BSV or Bitcoin Satoshi Vision and Bitcoin Cash ABC or BCHABC.

Bitcoin.Com Is Eyeing a Bitcoin Cash Derivative

It is the latter coin, led by the ABC developers, that is commonly called Bitcoin Cash (BCH) now. Roger Ver is now trying to divert more positive attention to the network. He is reportedly working on several ideas to accomplish this objective – including a Bitcoin Cash futures contract.

Ver’s goal is to help Bitcoin Cash reach the top 3 spots and then make it the 2nd largest crypto in the world after Bitcoin. BCH is currently trailing behind Ethereum and Ripple’s XRP. However, it is still in a better position than Litecoin, another Bitcoin spin-off. BSV, on the other hand, is the 9th largest currency in the world. David Shin, the head of the new Bitcoin.com exchange unit confirmed that they would be pushing BCH to the 2nd spot.

Shin’s grand plan for BCH

Before joining Bitcoin.com, Shin was working at TD Securities, as the Asia head of global equity derivative sales. He explained his plan for Bitcoin Cash, saying,

“Within a year I want to make that the second- or third-largest market cap,” Shin said. “To get from No. 4 to No. 3 or No. 2, we have to see more volume.”

This increased volume will be contributed by creating a new Bitcoin Cash futures product. The futures contract will be approved by the US Commodity Futures Trading Commission (CFTC) and will be listed on one of its registered exchanges. They will be eyeing a listing on CME (Chicago Mercantile Exchange), which already runs futures contracts markets for Bitcoin. He will also seek a working relationship with a retail broker. It could help US-based investors, especially institutional investors, get access to a regulated cryptocurrency product.

“In theory, we should see more penetration, more users, more trading and more volume,” he added.

Shin also wants to boost retail volumes by starting a contest like eSports that could help in creating new crypto influencers. As the crypto industry is driven mostly by personality, investors will be lured into the sector with the help of influencers.

Viraj Shah

Viraj Shah

Viraj has been writing for FXTimes covering Cryptocurrencies and Forex news for 2 years now. Also known as ‘Sherlock’, Viraj comments on the latest businesses emerging in the blockchain industry. His areas of expertise are Bitcoin and Blockchain. He enjoys covering new startups and busting myths across the industry.
email:viraj@fxtimes.com





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