Roger Ver, one of the main Bitcoin (BTC) supporters in its early days and later Bitcoin Cash (BCH) promoter, said that Dogecoin (DOGE) is better than Bitcoin. Also known as “Bitcoin Jesus,” Ver considers DOGE a better digital asset than Bitcoin due to the low fees and the fast transaction times.
Roger Ver Believes Dogecoin is Better than Bitcoin
As reported by Bloomberg, Roger Ver talked about his crypto holdings and how Dogecoin features make it better than Bitcoin. Transaction times are faster than on the Bitcoin network. Let’s not forget that Bitcoin processes transactions every close to ten minutes (its blocks get confirmed, on average, every ten minutes). Instead, Dogecoin can easily process blocks in just a minute.
At the same time, we should also take into account the fact that Dogecoin fees are close to $0.01 while Bitcoin fees are usually between $0.50 and $1. Hence, it is cheaper and faster to send a Dogecoin transaction than a Bitcoin one.
Roger Ver has also talked about possible Bitcoin contenders. These contenders include Dogecoin, Litecoin (LTC) and Bitcoin Cash. The interesting thing is that both Dogecoin and Litecoin have the same mining algorithm: Scrypt. Bitcoin Cash, instead, is a hard fork of the Bitcoin blockchain that has larger blocks (it can process more transactions per block).
About it, Roger Ver mentioned:
“Dogecoin is significantly better. It’s cheaper and more reliable. If I had to pick three contenders for the world’s dominant cryptocurrency, they would be Doge, Litecoin and Bitcoin Cash.”
It is worth taking into consideration that when it comes to security, the Bitcoin network is the most secure in the world. As you can see in the chart below, Bitcoin’s hash rate is simply orders of magnitude larger than Dogecoin’s hash rate. This shows how important the Bitcoin network is and how secure it is compared to other blockchains.
The same happens when we compare Bitcoin’s hash rate with Bitcoin Cash’s and Litecoin’s hash rate.
Therefore, it would be very difficult for attackers to get access to the Bitcoin blockchain and conduct a 51% attack. The larger the hash rate the better it is for the network, as it becomes more secure over time.
Additionally, Bitcoin’s blockchain structure incentivizes those that value block space to pay higher fees. Block space is scarce and not something that can be granted for free to everyone. Miners work very hard in order to process these transactions, this is why those with larger fees get prioritized. This is something that Dogecoin, Litecoin and Bitcoin Cash do not have.
At the time of writing, Bitcoin has a market capitalization of $736 billion and a price per coin of $38,714, according to data shared by CoinGecko. It is also worth noting that the combined market capitalization of Bitcoin Cash, Dogecoin and Litecoin is just $31.49 billion, just 4.27% of Bitcoin’s valuation.