In the previous article, we discussed crypto which was entitled " It's not just an option " and the discussion was, of course, focused on Bitcoin which is a reference for the superiority of the USD which has long ruled the world economy. And has been able to attract many investors into the crypto world. For this time, we will discuss is it true that Bitcoin can represent the capitalization of future currency usage?
As quoted in the article about gold, which can be an asset of choice but is still difficult to negotiate and it is feared that it will become booty if in war conditions. From this, it was said, "The world is looking for alternatives besides USD for all the needs of global trade and the status of the reserve currency as an option".
Bitcoin is indeed one of the best cryptos that have attracted the attention of many people to own it at this time. Due to the attractiveness of the exchange rate, which has experienced an extraordinary increase in 2021. But the main problem with Bitcoin is the problem of high transaction fees and also the length of time a transaction can be fulfilled if it is used as an alternative currency. Not to mention if you want to get fast transaction speeds you have to pay a large fee.
From here Bitcoin encountered a few obstacles in discussing the choice of a flexible, reliable currency. Yes, this factor makes Bitcoin an unfriendly currency as well as the slow pace of a running transaction. So that Bitcoin can only be juxtaposed with gold as an asset but cannot be the best option to be used as an alternative other than for all the needs of global trade and the status of the reserve currency as an option.
BitcoinCash as a Bitcoin fraction provides a good answer here. It's low-cost, friendly, and provides better transaction speeds than Bitcoin. Several countries have used BitcoinCash as an alternative for their citizens to use as a payment method. Take Venezuela as an example that has been saved from a previously deteriorating economy in the country.
In several other countries, many have adopted BitcoinCash as an alternative currency as a payment method. Such as Japan, Thailand, and the Philippines. If other countries see the potential of BitcoinCash as the best option, it could be that the European Union will choose BitcoinCash as an option in the future to be able to compete with USD, which has been unshakable so far.
It seems impossible because the problems of decentralization and volatility continue to be materials that are rejected for the foundation of a country's economy. But if it is taken its main benefit and purpose as an alternative option it is very possible and BitcoinCash provides the best answer as the choice.
Currently, the market capacity for BitcoinCash is still far away. The market cap is still at a value of $ 19 million indeed. But an important note is that the All-Time High on BitcoinCash has not been fulfilled. So if this is fulfilled there will also be a considerable increase in the BitcoinCash market later. Not to mention that mining dominance is greater in Bitcoin mining because it has the same algorithm, if BitcoinCash has experienced a large enough price increase it will certainly attract miners to switch to BitcoinCash and of course with the large mining power it will quickly break the process of a new block. Which means that the transaction will be resolved even faster. And of course, it will attract a lot of investors in the future.
BitcoinCash's position, which is decentralized as Bitcoin, can also be interpreted as having neutral political power. Does not tend to win a stronghold on one side, but can be relied on for global needs in fact. And this can be the reason why BitcoinCash is the right and best choice as an alternative currency in the future.