According to SmartBCH website, the Smart Bitcoin Cash or smartBCH is a sidechain for Bitcoin Cash and has an aim to explore new ideas and unlock possibilities. It is compatible with Ethereum's EVM and Web3 API and provides high throughput for DApps in a fast, secure, and decentralized manner.
If you are a user here in read.cash and noise.cash I am sure that there's a high percentage that you've already heard about it or you have plan to invest on it or you're probable investing in it already. Either way, in my case, I have heard about smartBCH several times already. Almost everytime that I scroll through read.cash, there's an article about it. And whenever I also scroll through noise.cash, I see posts about it frequently as well. Even in the Telegram group chats that's about BCH, it's the topic of my fellow members.
I sometimes feel FOMO (fear of missing out) because it seems like parang ako na lang ata ang 'di panag-iinvest sa smartBCH. 😅
But now, I just wanna share my personal reasons on why I don't invest on it just yet.
Lack of Knowledge
When it comes to investing, one of the ultimate rules is to just invest in investment vehicles that we have knowledge about, that we have already studied. Putting our money into something that we don't have any idea of or we just overheard from others is a big risk and a terrible thing to do, in my opinion. Yes, you can learn along the way but I think it's more like you're just gambling your money.
"Narinig ko kasi maganda raw dito mag-invest."
"May potential daw 'tong tumaas kaya makiki-ride lang ako."
"Sabi ni ano okay daw dito mag-invest."
"Parang uso 'tong investment ngayon, try ko din."
"Ang raming nag-iinvest dito, try ko din."
Those are some of the lines that I often heard from someone and it irks me most of the time.
To be completely honest, I haven't dived deeper yet into learning about SmartBCH. Yes, I've heard people who had good experiences when it comes to investing in SmartBCH. However, it is not enough reason for me to dip my toes into that.
Aside from the good experiences that I've heard, I've also encounter people who had bad experiences because of SmartBCH such as their investment devaluates and the like.
No Interest
Another reason why I don't invest in SmartBCH is because it doesn't seem to excite me or I don't have an interest with it. I think it's the reason why I didn't bother learning about it more deeply.
Just in my case, I want to put or invest my money into vehicles that I feel excited about, that I can look forward to.
I know that there are probably some of you here who are SmartBCH enthusiast and I respect you for that. I don't hate SmartBCH, it's just that I have different interests. We all have different interests and preferences. I hope you understand. 😊
I have other priority
The last reason why I don't invest in SmartBCH is because I have other priority as of the moment which is to build my foundation when it comes to my personal finance.
I'm trying to prioritize building my emergency fund and so I am more on a safe investment now rather than to be in a volatile market.
Closing Thoughts
Those are the 3 reasons so far why I don't invest in SmartBCH. But I'm not closing my doors. Maybe some time in the future, I'll be able to have an interest into learning and investing in it.
Once again, I don't hate SmartBCH. I just have other investment vehicle interests and to put my money in a highly volatile market is not my priority as of the moment.
That's all for now! Have a wonderful day!
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Date Published: June 11, 2022
I think one of my investment regrets is yung pagiging greedy sa smartBCH HAHHAA. I could have gotten a 0.6BCH profit back then pero naghintay pa ako na mas tumaas tas ayun sobrang baba na ngayon HAHA. My mistake kasi di talaga ako nagresearch.
Pero same tayo ngayon na focused na sa pagbuild ng emergency fund.