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How Bitcoin Cash Can Get in the Spotlight Again

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Written by   54
1 year ago
Topics: Bitcoin Cash

Bitcoin Cash has got a lot going for it, but unfortunately, it seems like the market doesn't realize the full value of utility yet, and if we can get the market to realize the full value of utility for a crypto, that is enough to drive Bitcoin Cash forward. In my perspective on what exactly needs to happen so that it can be successful as a crypto:

  1. To start with, the price action of Bitcoin Cash seems to be fairly dead, and going nowhere in terms of volatility, because a lot of people lost faith in it after the price crash of 2018. For people to get faith back into Bitcoin Cash, a slow, but steady rise needs to occur in value relative to BTC. This rise should take BCH's value steadily from 0.025 BTC to 0.1 BTC within the span of ~10-12 months. This averages to 0.38% per day, and at the current price of BCH, that's only about $0.92, which isn't ridiculously high.

  2. During this time of the next hardfork upgrade, the IFP should be implemented as purely voluntary with 'opting out' as default, giving users the ability to opt in. The IFP itself is very controversial, and therefore shouldn't be imposed or forced on the community. On top of this, the chained transaction limit should be completely removed, or placed with a MUCH higher limit like ~500 transactions.

  3. Eventually because of the price rise, Bitcoin Cash will naturally get media attention. This should be used as much as possible to promote Bitcoin Cash as peer-to-peer cash, and when Bitcoin Cash is trending, big websites that are pro-BCH should put articles explaining what ACTUALLY happened, and why Bitcoin Cash is 'the real Bitcoin'. Especially websites like bitcoin.com should make an article titled 'Why does bitcoin.com support Bitcoin Cash?', explain concisely what exactly happened to Bitcoin, and the fact that the project got hijacked. To make sure that opposing parties can't call it propaganda, the article should state every single source for every single claim to the point where it is irrefutable, and the only "argument" the opposition can make is "this article is propaganda", but not have any evidence to back such a claim.

  4. When this bull-run happens, the last step would be for Bitcoin Cash to get bigger than Bitcoin, and then eventually get the Bitcoin name with it.

Since the markets right now are EXTREMELY price focused, rather than caring about the fundamental differences between Bitcoin and Bitcoin Cash, a price movement is absolutely necessary to ensure the survival of Bitcoin Cash. Yes fundamentals may be important, but if we want to get more market share, we need to have the price pump up in some way or another. We need to completely fade any criticisms about Bitcoin Cash.

Bitcoin Cash is a scam? Provide the real information in such a way that the masses can access it, and understand what actually happened to Bitcoin. The confirmation times are off? Change the difficulty adjustment algorithm to ensure that confirmation times are more consistent. Bitcoin Cash is a small minority hashrate? Change the difficulty adjustment algorithm so that 'gaming' it is less profitable, and 'loyal/persistent' mining is encouraged through more consistent profitability. This will incentivize more miners that are already in support of Bitcoin Cash, to use the "greedy" strategy less frequently. Bitcoin Cash has crashed in price and will never recover? The price can be made to go up based on the previous metrics.

Let's try to focus on somehow making the price go up, even though the fundamentals are important too. The reason I say this is because if people can speculate, and then buy Bitcoin Cash, there is a high chance of them getting interested in the fundamentals too. The speculative nature of the market can be taken advantage of, and then those who purely speculate can eventually learn fundamentals too, further increasing the credibility of BCH.

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Avatar for IMightBeAPenguin
Written by   54
1 year ago
Topics: Bitcoin Cash
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