The “Drama” Between Tone Vays and Roger Ver Explains Why Joe Lubin and Jimmy Song Took 1 Year to Make a Bet

“We are masters of the unsaid words, but slaves of those we let slip out”

These words spoken by Winston Churchill have been in effect from the moment he let them slip out of his mouth, and on May 23, 2019, a debate between Roger Ver and Tone Vays heated the community after Roger Ver pledged to donate 10000 USD to charity in the event that a 5 dollar transaction with a 1 cent fee sent to him by Tone Vays was confirmed that day.

This curious promise by Roger Ver sought intended to prove that Bitcoin Cash was more appropriate than Bitcoin to perform micro-transactions because the fees are lower and the confirmation times are faster.

For his part, Tone Vays explained that BCH had these characteristics because only a few people use the network. He also clarified that people can adjust the fees according to the priority the user wants miners to confirm their transaction.

Also, from his point of view, a bigger block size discourages the inclusion of nodes, which in turn leads to a higher level of centralization. Vays commented that once Lightning Network was fully operational, the confirmation time and cost of fees would be considerably reduced, an argument that Ver rebutted explaining that setting up a LN wallet was very complex and did not give the person full ownership of their private keys.

A few minutes later, however, Tone Vays and Roger Ver agreed that the time of confirmation, and therefore the time of fulfillment of the contract was 1 day.

Tone Vays: – Don’t I have a day to get the 10000 dollars?

Roger Ver: – You do

The power of words is important, and even more so when stipulating a contract or a bet. Roger Ver (and much of the BCH community) argue that Vays lost the bet because SlushPool (the pool mined the block with the Vays transaction) prioritized this transaction, however at no time did Roger Ver stipulate that this was illegal, so it was not against the rules.

Likewise, it does not matter whether Bitcoin is worse as cash than BCH, what matters, for the purposes of the bet, was that Ver lost on its own terms, and now it seems to be refusing to pay.

Perhaps now it is easy to understand why a similar bet between Jimmy Song and Joe Lubin on Ethereum’s success as a DApps development platform took 1 year to materialize.

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