Bitcoincash is serving the Purpose for which Cryptocurrency was created

Myles Monroe said and I quote “When the purpose of a thing is unknown, abuse is inevitable”. Simply put when you don’t know the “reason why” a project or activity is planned, only one thing is certain, which is misuse or abuse. The same thing can be said about most Cryptocurrencies we have. What satoshi planned has long been neglected. Maybe everyone need to go through Satoshi's white paper again.

I can remember when I got into cryptocurrency, at first it was because of the money but with time I realize it has a bigger advantage. For a long time, I’ve been worried about the situation of every average citizen, especially in African countries. In so many states the average worker's pay remains the same for years but the value of their currency keeps depreciating. Imagine earning $50 per month for over 5 years and the groceries you do get for $20 are now $30. I wondered how long we will cope and I know when people are pushed to the wall they will fight back.

With Bitcoincash I found an answer. This was the solution I’ve been seeking. Though I wasn't the greatest fan of cryptocurrency, I had my conviction about BCH and still have. It wasn’t the prospect of the price rising that tempted me but the effort the community was putting into it. Every day new merchants are onboarded and it looked like it was a matter of time before Crypto replaces fiat. I was naive because I was only seeing the effort of those on Bitcoincash’s side, I didn’t see the effort some people were putting into bringing it down.

So many propaganda and false news were spread about it, even at some point, they make use of bots to buy and sell litecoin to mirror the BCH graph, this way they can back up their claim that bitcoincash is just another altcoin. I still don’t know why people will see a coin with a low gas fee, fast transaction, growing community, and available merchants accepting it but still go-ahead to talk bad about it and try to pull it down. Maybe I know the answer and many do too but we aren’t ready to face the reality yet.

Let’s use Dogecoin as an example. After @Telesfor asked a question on noisecash yesterday I thought of it. What purpose does Dogecoin serve? I can remember when the hype started and its FOMO started spreading, I was tempted to hop on it. Since the world's richest man and biggest influencer decided to play with people every one caught the fever. It kept rising and they all promised it won’t stop on earth but move to the moon. Clowns!. I had over 1000 Dogecoin back then, right before he started hyping it. I can remember trying to transfer it from my Binance account to my Trust wallet but got an outrageous fee. Mind you, the dogecoin was gotten from faucets before the pump. I never and will never buy such.

Suddenly, this influencer went on a show, partially withdraws his hype and the downtrend began. Dogecoin kept dipping and it looks like all hope is lost. Like Sir Telesfor asked, to what extent will it keep dipping. Now, have we all asked ourselves these questions-

“Is Dogecoin a currency?”

“Where are the places I can spend it?”

“Is this not just a case of a rich man becoming richer with the money of the gullible poor ones?”

If the answer to the first is no then it has destroyed the purpose of cryptocurrency which satoshi had in mind when he wrote bitcoin’s whitepaper. As seen in my reply (picture attached), so many people have been played. And try to answer the other two- you shall know the truth.

Dogecoin isn’t the only one, there are so many other coins digressing from the part satoshi laid. Even bitcoin itself is no longer serving the purpose which it was created for. They call it a store of value but to me, I see it as a Ponzi and a game that favours those that buy first and sell first, and when you try to have a decent conversation with these people they say “have fun being poor” when they have nothing else to say. That says much about them.

Conclusion

With this bear market, so many people are getting weary and I no longer have the strength to indulge in Telegram or WhatsApp arguments, trying to persuade people whose might are already made up to. But one thing I can say boldly is that “ For things to get better, sometimes it has to spoil first”. For BCH and other coins to leave the grasp of BTC, this bear is needed. However, know the side you be. Choose wisely, because after this cloud clears so many projects won’t be able to stand again but Bitcoincash for sure won’t be a part of those.

Bitcoincash is serving the purpose for which Cryptocurrency was created. It's serving as a peer to peer coin and is on the right path. Let me stop with what I started with - "If the purpose of a thing is unknown, abuse is inevitable".

Thanks for Reading! 📈💚📊

Disclaimer

This article isn’t a personal attack on any one or a group. If any part violates your right or is deemed wrong, kindly signify.