Roger Ver Bets Against SegWit Bitcoin Upgrade at Anarchapulco

The beach-side city of Acapulco recently played host to another round of the bitcoin scaling debate.

Mar 3, 2017 at 9:07 p.m. UTC
Updated Sep 11, 2021 at 1:08 p.m. UTC

Bitcoin's long-simmering scaling debate flared this week at Anarchopulco, an annual libertarian-leaning bitcoin event held in Acapulco, Mexico.

Among the highlights was an unscripted, onstage confrontation between investor Roger Ver and researcher-pundit Tone Vays that came to a head in a bet relating to the future of Segregated Witness – a bitcoin upgrade put forward by the Bitcoin Core developer community late last year. The change has since faced heavy resistance from critics, including Ver and former bitcoin lead maintainer Gavin Andresen.

Ver's comments came during a roundtable consisting of Vays, the founder of Sweden's Pirate Party Rick Falkvinge, former Bitcoin Foundation executive director Bruce Fenton and entrepreneur Joby Weeks. Ver, while notably absent when the onstage conversation began, later grabbed a microphone to address the audience.

Ver told the crowd:

"I’m willing to bet any amount that SegWit will not activate. Would you like to take me up on that? $1,000…$10,000, a gentleman’s bet that SegWit will not activate. I’m not saying the technology is wrong, just that it won’t activate."

Elsewhere in the conversation, Vays took aim at Bitcoin Unlimited, an alternative bitcoin implementation that seeks to increase the size of the network's transaction blocks, and that is favored by Ver.

"I have said this, if Bitcoin Unlimited becomes the dominant fork of bitcoin then I will remove myself from the public eye," said Vays. "I may not sell my bitcoin, but will remove myself as a public speaker."

Later, Fenton, a board member at the Bitcoin Foundation, contended that 95% node consensus – the threshold required for network adoption of SegWit – will be extremely difficult, if not impossible.

"If I promised to give everyone in this conference hall one free bitcoin if they meet me outside after this panel," he said. "I’m certain that less than 95% of you would show up. Ninety-five percent in anything, even among like-minded people, is very difficult."

The statements come amid continued in-fighting in the bitcoin community over how best to increase the network's capacity, a debate that now dates as far back as 2015.

Image via Roger Ver 

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Sequoia's Guide to Surviving the 2022 Bear Market

Venture capitalists have gotten increasingly frantic over the last few months.

Venture capitalists have gotten increasingly frantic over the last few months.

CoinDesk - Unknown
2
CoinDesk - Unknown
NFT Art Museums Are a Good Idea

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

CoinDesk - Unknown
3
CoinDesk - Unknown
How the US Can Establish Itself as a Crypto Leader

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

CoinDesk - Unknown
4
CoinDesk - Unknown
No, the UK Is Not Going to Make USDC and USDT Legal Tender

For “legalize” read “regulate.”

For “legalize” read “regulate.”

CoinDesk - Unknown