Jimmy Song and Roger Ver set out to have a “high level” debate to discuss the case between Bitcoin and Bitcoin Cash. If the introduction to the format was the setting of the bar, then calling the discourse “high level” is being as generous as Oprah Winfrey.
The debate took place on the poolside of a luxury cruise ship’s deck. The audience consisted of bikini-clad ladies and shouting shirtless men holding and filming on an array of devices. Not a minute in, as Song introduced the forum, Ver interrupted him in order to ask “just one question“. Song responded with a string of “no, just sit down” requests.
Initially, one microphone was to be used in order “to keep it civil“. As Song suggested, “there is way too much Jerry Springer and not enough Supreme Court”.
However, the alleged “Supreme Court” approach quickly changed when Ver was handed a microphone and Song marched off the stage saying that “he refused to do the debate if there [were] two mics“. His refusal did not seem to last long. He returned after less than two minutes following Ver’s promise not to interrupt (again).
Finally – after a display of Ver shouting at a shirtless man, Song grabbing papers which had blown away, and a lady asking where she could find the margaritas – the debate began.
Song opened his segment by stating:
“Bitcoin Cash is a fiat money.”
He proceeded to explain that he sees Bitcoin as a “classically liberal” and “anarchal capitalist“, and “sound” method of money, “befitting its cypherpunk roots“. On the other hand, he offered that Bitcoin Cash is “paternalistic” and “Keynesian befitting its corporate roots“. He explained that Bitcoin is unique as it offers a cryptocurrency with no point of failure, no censorship, and no authority. Therefore, users are “sovereign over their own money“.
Bitcoin Cash, he said, is a fiat owing to the fact that it is “centralized with an elite group that determines a roadmap“. He said that this leading team determines what will happen to the token through authoritarian hardforks. These forks, such as result in the allowance of changing economic incentives such as”forced upgrades”.
After Song wrapped up his first point, Ver took the stage, saying:
“My goodness, what a bunch of nonsense from Jimmy.”
He was behind the podium for less than a minute. Instead of looking to refute any of Song’s arguments, Ver simply offered Jimmy a wager:
“[I’ll] bet a million dollars equivalent of whatever cryptocurrency [he wants], that within ten years Bitcoin Cash will have a larger market cap than the BTC version of Bitcoin today.”
Song took the stage once more to proceed with his point, as Ver had offered no point to contend.
In the second component of his argument, Song extrapolated his argument on the “centralized token“.
Following from there, the two argued about fiat, liberalism, personal attacks on what books the individuals had read.