It is very rare when an investment opportunity worth more than $1 million gets rejected, especially in the current Crypto market. OpenNode and Rui Gomes however, have rejected a $1.25 million investment by Roger Ver in a very direct way.
А tweet by Rui Gomes called Bitcoin Cash “inferior money” and rejected the offer. The tweet from OpenNode stated that their vision of a better and more open financial system is only possible with the true Digital Gold – Bitcoin.
OpenNode fully supports the Bitcoin payment protocol. The Bitcoin payment processing startup, OpenNode also stated that all resources would be spend on Bitcoin and its second-layer payment solutions. No other currency out there can achieve OpenNode’s vision of a free and fair financial system.
OpenNode has a Vision of a free Financial System with Bitcoin
OpenNode’s main goal is to process Bitcoin transactions in real-time. By doing so effectively, the startup hopes to boost the cryptocurrency’s adoption-rate among enterprises, merchants and businesses. OpenNode also fully supports the Lightning Network. The startup also managed to raise $1.5 million in seed funding from the famous Venture Capital investor, Tim Draper.
Roger Vel has been very vocal and against the Lightning Network. He has stated multiple times that Lightning will be unable to fix Bitcoin’s scalability issues. Ver was ready to invest $1.5 million into OpenNode if they drop Bitcoin and accept Bitcoin Cash as the only payment processing protocol. He stated:
“I don’t need one share in return for the money I invest. All I want for OpenNode is that they work on payment processing of Bitcoin Cash, the only version of Bitcoin which has the potential to become the money for the world.”
Ver also used a Moore Law-enabled algorithm and declared that it would take roughly 200 years for the world to fully be able to use the Lightning Network. As for Bitcoin Cash, he stated that the time would be reduced to just 50 years.
His reasoning was quickly dismissed by the majority of the Crypto community. Many accused him that he twisted math in order to suit his agenda. Most of the arguments were referring to the fact that Ver never actually included the possibility for Bitcoin to have a Block Size increase in over 100 years.
Additionally, the numbers he used for Bitcoin Cash have more progress than the entire growth seen during the last 10 years.