MemoryDealers.com From 1999 until 2012, Ver was the CEO of MemoryDealers.com, an online business that sold networking equipment. In 2000, he ran for the
California State Assembly as a
Libertarian Party candidate. During his campaign, he strongly criticized federal law enforcement agencies, referring to the
ATF and
FBI as "
jack-booted thugs and murderers" for their role in the
Waco Siege. His first investment was in
Charlie Shrem’s Bitinstant, which allowed the company to hire its first designer and programmer. He went on to invest over $1 million in early Bitcoin startups, including: •
Ripple (XRP) – where he was a co-founder and the second person ever involved after Jed McCaleb •
Blockchain.com – also as a co-founder, first investor, and second person ever involved after Ben Reeves
Bitcoin adoption 2011 marked a year with substantial activity for Ver in his early Bitcoin evangelism and career. In 2011, Ver's company MemoryDealers became the first established business in the world to accept Bitcoin as payment. Also, in this same year he co-founded the Silicon Valley Bitcoin Meetup, one of the earliest Bitcoin meetup groups worldwide, helping to organize events and expand awareness. Ver began paying for national radio Bitcoin advertisements on the libertarian radio show Free Talk Live, which was aired on more than 100 radio stations. Ver additionally paid for the world's first Bitcoin billboard advertisement. It was posted along one of the busiest expressways in Silicon Valley. Lastly, in 2011, Ver made his now famous public "Bitcoin Bet" that Bitcoin would outperform
gold,
silver,
platinum, and the US stock market by over one hundred times over the next two years. He was also among the five founding members of the
Bitcoin Foundation.
Bitcoin philosophy and advocacy Ver has long promoted Bitcoin as a tool for
economic freedom. In 2017, he helped lead the push for larger Bitcoin block sizes, supporting the
Bitcoin XT project. Although often linked to Bitcoin Cash, Ver has repeatedly clarified that he is not its creator. Instead, his role has been as a supporter of cryptocurrencies that function effectively as electronic cash. In contrast, he played active early roles in launching other cryptocurrencies, including Ripple (XRP) and what later became FIRO, by providing critical early funding and support.
Mt. Gox In mid-2011, during Bitcoin's first major price crash, Ver and Jesse Powell assisted
Mt. Gox with operational issues, helping the company to navigate technical and business challenges. == Published works ==