@Idksamad7869
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The downfall of Smart BCH kingdom~ save it before it's too late 02-03-2022 Smart BCH kingdom? Ever heard this before well how can you even hear when theirs no kingdom yet but I'm getting vibes that this Kingdom will end before it's establishment The downfall isn't too far because of noticing much red flags leading Smart BCH to it's end You can be die hard fan of Smart BCH and don't even want to listen the truth but I'm gonna spit the facts which will lead us to where we can't see the rise again. DeFi is huge and it will stay here for so long but the thing matter is will Smart BCH going to survive and lead in this DeFi space. More than 100 billion $ is traveling in the DeFi at the moment and from each chain to other and chains are continuously increasing and Smart BCH is one of them. Though only 1 drop of whole DeFi will be enough for Smart BCH but is it really worth for it or have enough potential for it? Will continue discussing this because that's the topic for today's. Total value locked in Smart BCH vs whole DeFi TVL isn't the only thing which attracts peoples but it's a part of it where peoples decide and make their opinions about chain And because smart BCH isn't that huge and old it's TVL is underrated at the moment
Currently TVL is nearly 105k BCH in Smart BCH and slightly decline in past few weeks saw a downfall from it's ATH 120k Smart BCH has lost 15k BCH. Anyways seeing only 105k in TVL it's too less as the whole supply of BCH is 21million but if we compare it with the rest of DeFi it ain't even make sense
Meanwhile the whole DeFi is nearly $231b which is just a lot and even if each top 100 chains carry 1 billion $ than Smart BCH will explode like crazy from current position But I'm again questioning why would this happen? Why someone will take this much money into a chain where's currently not much development. Yea it's true and I'm saying this on a basis of these things. SmartBCH is nothing more than a printing machine Peoples developing projects in Smart BCH for their own benefits On going scams everyday No project exists with the real development In the rest of topic I'll explain why these few things is causing trouble for whole Smart BCH ecosystem and it's possible to lead towards the downfall before the establishment of it's kingdom. SmartBCH is nothing more than a printing machine It's true and you cannot deny the fact which is effecting the whole ecosystem at the moment and we've already started experiencing impact of it. SmartBCH is nothing more than printing machine printing more and more money for the richer peoples and those are rugging the one doing more efforts everyday If you don't know what are these printing machines than theirs only "8" printing machines at the moment.
These are working as a printer for the richer one's and 8 dex on Smart BCH which isn't huge and already effecting the ecosystem because money is going in the wrong hands. ****Impact of dex and money moving into the wrong pockets**** Dex in Smart BCH is popular because of it's Aprs and after 8th dex till now theirs no real development besides working as a printer And these farms or pools are the printer I'm talking about but not only working as a printer the effect or thing which is bad for the eco system is money moving into wrong pockets. Peoples farm or stake with every dex launch and it's high Apr took investors attention and so called whale's in Smart BCH is kinda worst who's stealing money and doing nothing except watching drama So peoples with more money farm and print more money than dump on the real investors in Smart BCH That's one of the many issues which is having a bad impact on Smart BCH and will lead to a downfall sooner or later. Peoples developing projects for their own benefits Till now it's been more than half year since Smart BCH came into existence and from the very beginning projects are increasing and increasing everyday but no real development which will be beneficial for the eco system except for the own benefits There's only 2% of projects with real development and potential rest of 98% are for their own benefits Some Devs are making "Meme" projects some are making tokens with faking use case and roadmaps, some are taxing in the name of reflection token and some looting in the name of charity and much more going in the background ****No project with the real use case exist**** Take CLY it's anti dump technology which is more than 100% down since last month and 100% Apy mean print more money and dump on real investors nothing else Every dex token is use less till date, most of the token exist having one thing which is a farm on dex and the project owner is the one taking advantage by farming his token and dumping on us than the rest of farmers keep hustling to recover impermanent losses. Only few tokens 2% of total projects in Smart BCH are with real use case and on top it's law and take Cat, joystick, BCHpad that's it i don't see any other projects on Smart BCH with real usecase. NFTs effecting Smart BCH The another thing which is digging Smart BCH grave is "NFTs" since the beginning this whole thing is overrated except the lawpunks because that's more than just jpeg The 98% of NFTs projects in Smart BCH are effecting it badly and they're just money grabber nothing more Tons of NFTs collection already and I've counted which shocked me to because seeing 44 different NFTs collection and if each collection has 10k NFTs than it's 40k or more NFTs in Smart BCH Meanwhile we only have less than 2000 peoples in smart BCH and literally NFTs projects are just another example of scam I repeat money moving into wrong hands will be the downfall of Smart BCH and this is already happening Whales stealing money by farming and dumping on real investors NFTs projects stealing money with every new mint These two are solid reasons to remove the name Smart BCH from it's existence because these whales are hurting real investors who's investing in smart BCH and NFTs projects are doing same both are hurting community and money is already moved to wrong pockets that's why we are seeing no movement in sep20 market These aren't ready to invest because they're not the real investors just grabbing money and another way of rugging the chain nothing else So if this thing continued like that then till next year i don't think we'll ever hear or know about Smart BCH Also before sha gate we need real development and more use case And I've some ideas or my point of view which will help Smart BCH to explode so next time ill share that for now let me know what do you think about these all I've shared today. Though one last thing I want to clear is I'm a big fan of Smart BCH and expecting alot from it that's why just want to be Smart and aware with the real scams and things everyone should avoid.
11 comments
Let's hope there will be better times ahead. You made a solid point and indeed too many BCH moved into paper hands selling them at $270 and contributing to the negative sentiment. About the comparison with other smart-contract networks, most of them are backed with billions of dollars by VCs. They didn't start like that, though. I remember Polygon, Fantom, Solana when they were not hyped and how they were boosted with billions throughout the bull run of mid-2020-2021. It was one year of a frenzy and money was pouring into anything. I remember writing about Fantom in summer 2020, and the partnerships it made. I give Fantom as an example as it was just a random token back then. Its price is up 500 times since then. From $0.004 to $2. This is how much VCs can pump the price. Although, I'm not sure what the demands are and what kind of negotiations take place. I wrote a very generic post on VCs and how they "pumped" many smart contract networks that were in a terrible position considering the current smartBCH developments. Read it if you have time. https://read.cash/@Pantera/venture-capital-funds-and-smart-contract-networks-0bb91513 I don't know if anyone read it but I will publish more on this subject since smartBCH has a lead-dev and certain backers that could discuss terms. BCH is decentralized, so it is way more difficult to have an institution serving such purposes.
Hope so good time is waiting ahead Oh i didn't knew about this VCs thing to be honest, Smart BCH is currently not so hyped and popular like other chains and i take it as a good thing because currently there's no such thing which attracts and create more hype And also a good point BCH showed it's potential when it was in bull run but there was no SmartBCH and now no bull run so far Though was not aware with partnership or VCs thing, I'll go deep into it to understand what actually pushing other chains up Will read it later it's 2am currently and thanks for adding this explanation much appreciate it.
I support your reasons. These whales don't invest but hurting real investors who's investing in smart BCH.
Yeah exactly
You just spit out the real truth of SmartBCH. I'll never buy in tokens in future except few stable coin tokens like Law, Eben and so forth.
Buy the token with real usecase like law or more.
That is why, we need to study how these things really work and focus on what we think are the stable tokens.
I guess it's safer to invest in stable coins then? The potential of tokens and NFTs are becoming accessible to everyone it seems that it's always the whales who win. The new ones seem to be hyped from the start only to crash down.
Stable coins are best to farm without IL and make profits otherwise whales are ready to eat the money.
It's necessary to make personal research before investing in any project. Thank you for this helpful article.
Yea it is necessary!