On 15th July, the CEO of bitcoin.com and the advocate of the 4th largest cryptocurrency Bitcoin Cash, Roger Ver broadcasted a YouTube discussion with his fellow bitcoin-enthusiasts Jake Smith and Mike Malley on WeChat, focusing on the app’s traffic and its new BCH wallet.
WeChat is a China-based text/voice messaging application released in 2011. They account for 34% of the total mobile traffic in China which in comparison to Facebook’s 14% domination in the US is monumental.
The three crypto-experts talked about the new WeChat native wallet that allows one to send and accept Bitcoin Cash on-chain. The transfer can be done between friends owning an account on WeChat. It can also be used to backup data with a private key. The wallet was developed by a ‘personal friend’ of the team. In Roger Ver’s words:
“Mike already sent me some Bitcoin Cash using the app earlier tonight. It has little Chinese red envelopes if you’ve seen those. You might have seen those even if you’re not Chinese.”
Additionally, the wallet does not just facilitate peer-to-peer transactions but also supports group payments. Here, Mike Malley stated:
“You can send peer-to-peer but you can also send like if you’re in a group say with 500 buddies.”
The trio also chatted about the recent listing of Bitcoin Cash on the American crypto-exchange, Robinhood. The exchange platform is ‘pretty big’ for Roger Ver since it had recently received a giant amount of VC [venture capital] money [around $539 million, according to Crunch-base]. Jake conveys that unfortunately, Robinhood is not a wallet, that makes the sending and receiving of digital assets to a bitcoin address unavailable. To this, Mike replies saying, “One-step at a time.”
Mike also states the priority of Robinhood as “Product first, risk second,” since the platform is looking to capitalize on people who are interested in cryptocurrency without spending heavily. He added that the platform is also working on a ‘zero-trading fee’ model which gives them an edge over everyone else. Robinhood has also skipped the concepts of trade equities and securities to focus mainly upon cryptocurrencies.
“I think they’re poised to be super, super popular and what better way to do that and we use the best cryptocurrency.”
Jake Smith also added that Robinhood consulted the CTO of bitcoin.com for the integration of Bitcoin Cash.
During the course of this Bitcoin Cash centric discussion, Roger Ver implies multiple times that Bitcoin and Bitcoin Cash can be used interchangeably. Moreover, “Bitcoin is just an obsolete version of Bitcoin Cash since Bitcoin Cash works the exact same way as Bitcoin in 2009 to 2015.”
He also goes on to speak about a Bitcoin Cash app called CashPay that allows a user to automatically buy more of the cryptocurrency to replace it after spending, via an integration with Coinbase. This option can be enabled by choosing the ‘pay up’ option on Coinbase for Bitcoin Cash to repurchase the same amount.
A Reddit user, on the news of WeChat enabling Bitcoin Cash wallet, wrote:
“Is this real? WeChat is huge in China. In the most recently reported quarter, Tencent’s WeChat had 963 million monthly active users, closing in on 1 billion users. “
Another user, Ite13, also commented with a tiny insight:
“Fake? If true it has to be a 3rd party app.”
To many that were watching that commented Wechat being a potential sign for BCH adoption, Dare Oludare says,
“…dont be fooled, anyone can create a plugin on wechat, that doesnt mean wechat adoption”
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