Roger Ver: No need to worry about the decline in BCH computing power, we should focus on increasing the utility of cryptocurrencies

The halving will usually result in an increase in the token price, but it turns out that this is not the case for BCH at all. BCH has been halved on April 8th, resulting in a significant price drop. At the same time, due to the decline in the profitability of BCH mining, a large number of miners withdrew. This in turn led to a significant drop in BCH computing power, making its network extremely vulnerable to 51% attacks. Roger Ver, the main supporter of BCH and executive chairman of Bitcoin.com, commented on the issue of halving BCH in a recent podcast. Speaking of price being directly proportional to supply and demand, Ver claims that his long-term goal is to increase the demand for them by making BCH and all cryptocurrencies more useful to people.

As early as March, the crypto analytics platform CoinMetrics released a report saying that the upcoming BCH and BSV (halved on April 10) will force miners to migrate to the BTC blockchain. Commenting on this matter and the community ’s fears about it, Ver said, “Hash rate fluctuates with price fluctuations. I ’m not worried about the decline in hash rate at all. I think the real problem is that let us make these cryptocurrencies world-wide Of people are useful for real business activities and do n’t need their bank, government or anyone else ’s permission. Computing power is only a small part of the overall picture. ”