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Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Roger Ver argued that the IRS’ exit tax for renounced US citizens with over $2 million in assets is unconstitutional and “impermissibly vague.”

Roger Ver — also known as “Bitcoin Jesus” — has urged a United States judge to dismiss a case from US prosecutors alleging he committed tax evasion when selling millions of dollars in Bitcoin, claiming the case is unconstitutional.

In a Dec. 3 filing to a California federal court, Ver argued that the Internal Revenue Service’s (IRS) exit tax for those who choose to renounce their US citizenship with more than $2 million in assets was unconstitutional and “inscrutably vague.”

“The ‘exit tax’ at issue violates both the Apportionment Clause and the Due Process Clause of the Constitution [...] the charges also rely on provisions of the U.S. tax laws that were, at all relevant times, inscrutably vague as to their application to digital assets of the kind that underlie the charges,” Ver argued. 

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‘Bitcoin Jesus’ says Ethereum is the front-runner for global crypto adoption

Roger Ver says that Ethereum, not Bitcoin, will lead the most new users to crypto.

Early Bitcoin (BTC) investor and Bitcoin Cash (BCH) advocate Roger Ver claimed that Ethereum, not Bitcoin, will be responsible for driving the bulk of new users towards crypto. 

On a May 31 episode of the Show Me The Crypto podcast, Ver — labeled “Bitcoin Jesus” for his early Bitcoin advocacy — said that despite Ethereum’s scaling issues and the other layer-one “clones” that have popped up in its wake, the Ethereum ecosystem is still where the action is:

“Even though Ethereum doesn’t have the biggest market cap compared to Bitcoin, I think Ethereum is the front-runner in terms of driving worldwide adoption.”

Ver praised the rise of Ethereum Virtual Machine-compatible (EVM) blockchains and layer-2 scaling solutions such as Polygon (MATIC) that can help share some of the load away from the main chain.

Ver provides an account of the “civil war” that occurred in the early days of Bitcoin between Etheruem’s co-founder Vitalik Buterin and Bitcoin core developers.

Disagreements over the use of smart contracts and moving away from the idea of blockchains being used purely as currency or stores of value eventually drove Buterin to develop Ethereum, Ver noted:

“All of that would have been built on top of Bitcoin if not for the scaling civil war that happened. These Bitcoin core developers hate Vitalik, and they basically drove him from the project to go and create Ethereum, and more power to him for that.”

Ver also spoke on the recent Ledger debate, calling the controversial Recover service “disappointing.” The service allows users to store their encrypted seed phase with external custodians to safeguard against loss; Ver said that while it’s fine for people to have custodial accounts and choose to recover their keys if they wish, the ethos of crypto is centered on having full control of your assets at all times.

Related: Hybrid rollups: The silver bullet for scalability and security on Ethereum

In January, Ver was sued by a trading unit of the crypto lending firm Genesis for failing to pay some $20.8 million in unsettled crypto options.

Ver claimed in a January Reddit post that he had “sufficient funds” to pay the outstanding sum but argued that because Genesis was no longer solvent, he was not legally required to uphold his end of the deal.

Last year, Ver made headlines for allegations of defaulting on a debt. CoinFLEX CEO Mark Lamb claimed Ver owed the firm $47 million USD Coin (USDC) and was bound by a written contract. On June 28, Ver denied these claims without directly mentioning the company.

Magazine: Ordinals turned Bitcoin into a worse version of Ethereum — Can we fix it?

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Crypto Futures Exchange CoinFLEX To Lay Off Employees As It Fights Legal Battle With ‘Bitcoin Jesus’

Crypto Futures Exchange CoinFLEX To Lay Off Employees As It Fights Legal Battle With ‘Bitcoin Jesus’

Embattled crypto derivatives exchange CoinFLEX is announcing employee layoffs amid a legal battle with ‘Bitcoin Jesus.’ In a new blog post, CoinFLEX says it is laying off a significant number of employees across the board as a means of reducing overhead costs. “We, unfortunately, had to let go of a significant number of the CoinFLEX […]

The post Crypto Futures Exchange CoinFLEX To Lay Off Employees As It Fights Legal Battle With ‘Bitcoin Jesus’ appeared first on The Daily Hodl.

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Dogecoin Jesus? Roger Ver resurfaces on Twitter, backs DOGE over BTC

“Bitcoin Jesus” Roger Ver has made a comeback to Twitter and says Dogecoin is a top contender for the world’s dominant cryptocurrency.

Roger Ver, an early investor and ardent promoter of Bitcoin (BTC) which earned him the moniker “Bitcoin Jesus” has resurfaced on Twitter after a year and backed Dogecoin (DOGE) in an interview, preferring it for payments over the world’s first crypto.

In an interview with Bloomberg, the Bitcoin.com founder said how he was a fan of the memecoin due to its fast transaction times and low fees:

“Dogecoin is significantly better, it’s cheaper and more reliable [than Bitcoin]. If I had to pick three contenders for the world’s dominant cryptocurrency, they would be Doge, Litecoin and Bitcoin Cash.”

Ver also took time in the interview to voice his support for honorary Dogecoin CEO Elon Musk’s Twitter takeover.

“It’ll certainly make Twitter more attractive,” said Ver. “I am really, really grateful that Musk is out there calling out censorship.”

Although Ver was a proponent of Bitcoin for years, he now spends his days as a Bitcoin Cash (BCH) evangelist, the altcoin which forked from Bitcoin after a dispute over the block size.

A video posted in March to Ver’s YouTube channel shows he and his entourage onboarding retail merchants and taxi drivers to use Bitcoin Cash as a preferred payment method in Saint-Martin.

Ver says that Bitcoin Cash is the true vision of Bitcoin creator Satoshi Nakamoto, and despite all his advocacy for the crypto, he claims he isn’t all in on BCH:

“I am definitely a cryptocurrency whale still, I’ve always had a wide assorted basket in cryptocurrency. I was never a Bitcoin or Bitcoin Cash maximalist.”

Related: Roger Ver’s next life: Cryonics meets crypto

In his return to Twitter, Ver wasted little time calling attention to crypto's first principles, with his second tweet after his hiatus on April 28. He said that custodial wallets like those used by traders interacting with centralized exchanges would cause Bitcoin to lose a “key revolutionary property.”

Noncustodial wallets where the user retains control over the assets is something that allows Bitcoin to stand out from banks and other financial products.

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