How Do We Spread BCH Awareness and Promote Adoption?
I have been looking for YouTube videos on BCH the other day came across this video
According to this video, Bitcoin Cash has all the advantages over Bitcoin. But why is still thriving in the shadows of Bitcoin Cash?
His simple answer is, Bitcoin Cash is NOT Bitcoin! (13:52). He explains further that people are still more interested in Bitcoin than in Bitcoin Cash.
With all the advantages of Bitcoin Cash over Bitcoin, why is Bitcoin Cash is greatly undervalued, and unpopular? The possible answers are low in awareness and adoption!
But note, this was in 2020. Has the people's perception changed already?
Hello, Bitcoin Cash lovers and readers. Again, this is John. I am not an expert in BCH nor in cryptocurrency. I still have so much to learn about this subject. But in the past few weeks, I have been trying to understand why is it that BCH is still not getting the popularity it deserves. It seems it is still thriving under the shadows of Bitcoin.
At the time of writing, BCH is only at the number 12 spot in the Market Cap list.
(Source: https://coinmarketcap.com/coins/)
In this post, I will share with you my point of view on why BCH awareness and adoption is lower than it is supposed to be. Also, I will share with you my thoughts on how to spread BCH awareness and promote adoption.
DISCLAIMER
I am no expert in spreading BCH awareness and adoption. The content of this post is based on my understanding as a result of my continuous study and reading different articles on the subjects. This is a matter of personal opinion. My references, where I based my understanding and opinions, are posted at the end of this article.
You are welcome to agree or disagree. If you have different opinion on this matter, you are welcome to state them in the comment section below.
My Understanding of Nakamoto's Vision of Bitcoin
When Bitcoin first came out, I remember reading an article about it. From what I understood from that article, Bitcoin is a secure peer-to-peer (P2P) payment system. It's like if you want to buy something online or send money to another person online, you first buy a bitcoin and send that coin to the receiver. It's like PayPal, without PayPal in between. It's as simple as that. Thus was intended to be a virtual currency. It's a safe and untraceable means of sending cash over the Internet. Any eavesdropper on the Internet will have an extremely difficult time trying to decipher where the money is coming from or going to and how much, let alone intercept and steal it.
This is the short version of my understanding of Nakamoto's vision of Bitcoin.
From Currency to Commodity/Security
However, due to the limited number of coins minted each year, it becomes a rare commodity. High demand plus low supply means a price hike. That's the main reason that the price ballooned over time. But as time goes by, the price becomes so volatile.
I remember overhearing a couple of corporate finance managers talking about the bitcoin price. I will try to phrase it as close as I could as I remember his statement.
"For the value to drop about 13%, it is too unstable to be a currency."
For me, at the time, that made sense. I wasn't that knowledgeable about bitcoin like today.
Then, maybe it was a year ago or two, that I read in an article that Bitcoin is both currency and commodity. (sorry I can't remember the source of that article). But these days, Bitcoin is treated more like a digital gold. They buy, HODL hoping that the price would go up in the days to come.
Why BCH Awareness is Low
The way I see it, BCH is still thriving under the shadow of Bitcoin. That is most unfortunate. As @Pantera stated in his article, major cryptocurrency publications/news portals are keeping the information about Bitcoin Cash from the public. You can rarely read about Bitcoin Cash in the news. And most of the people who write about Bitcoin Cash are publishing their works mostly in Read Cash, and other cryptocurrency-fueled writing platforms.
Worse, some social media platforms started to block some content creators who talk about Bitcoin Cash. Like in the case of Reddit blocking any links leading to read.cash.
Low BCH Adoption.
In my understanding, BCH adoption means using BCH as a currency. Not just to earn it, but to use it to pay for goods or services without converting it first to fiat money or other altcoins.
Unfortunately, most of us here are still treating BCH like digital gold. We earn, we HOLD as long as we can then convert the BCH to fiat to use them. I'm guilty of that as well.
Perhaps there's nothing wrong with that, but it does not help the price of BCH.
In the stock market, if the number of sellers increases, the price will soon drop. And the way I see it, it is the same in the cryptocurrency market.
The question is, are there establishments in your area, or even online, that are accepting BCH as payment? Or would you start a business and start accepting BCH?
So far, the only online service I know that accepts BCH as payment is Bitworkerss.cash.
My Way of Spreading BCH Awareness.
I have stated some problems in spreading BCH awareness here in our city, in my article "The Challenges in Spreading BCH Awareness in Our City" , specifically the name Bitcoin has been associated with a number of Ponzi schemes in the past. I forgot to mention in that article that a hotel received a bomb threat through email, and the scammers demanded some amount to be paid in Bitcoin.
Thus, the first challenge is to make people believe that cryptocurrency is not a scam itself.
Talk About BCH outside the Crypto Realm
My first step in spreading BCH awareness though is to talk about Bitcoin cash outside the realms of cryptocurrency. Thus I plan to write about BCH in medium and on the WordPress site that I am going to launch soon.
I will continuously learn different ways to earn BCH with minimal or even without investment and share it with the people outside the crypto realm.
BCH Adoption
Offering my graphic design services and maybe IT support services through Bitworkerss is my first step in promoting BCH adoption. Marketing my services outside the crypto realm would serve both spreading BCH awareness and promoting BCH adoption.
Locally, I would do the same. I would start offering my services and accept BCH as payment. Since a few people here know about BCH, it is a great chance to spread awareness about it as well.
For a long time, I planned to have a local version of Print-on-demand services here in our place. The products could be limited to t-shirts, hoodies, and mugs at first, but I could sell them for BCH. By giving discounts if they pay in BCH, perhaps that would encourage them to start investing in BCH as well. (I better start making a business plan ASAP.)
Who knows, soon, I could buy my son's favorite roasted chicken using BCH. Or a cup of hot cappuccino?
But the problem is, setting the price... I will think about it next time.
In Closing...
These are my thoughts on how to spread BCH awareness and promote adoption. I'm not sure if it will work or not. But this is something that I think I should start doing. There could be other ways that I may not have thought of for now.
How about you? How do you think you can help spread the BCH awareness and promote BCH adoption in your area?
Thanks for reading
References:
Check out my other posts in Read.Cash
Check out my other Articles in Publish0x.com
Join me in ForumCoin.Com *
Follow me in Noise.cash
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Think you're saying the right thing, talking about the problems of BCH why is not popular like other Bitcoin, and as a matter of fact , I still prefer the way BCH work to Bitcoin. I have some Bitcoin with me but I still place more Value on my BCH.
One of the major problem too is that people sell out BCH easily , if a large mass of people are able to Hodl , I believe it will add more value to the rate .
It will be so good if you should bring it to people awareness , I pray it will work out just like you planned.
But in my country here, I don't think there's anywhere they trade with bch, I just wish it will be adopted massively over here.
I love your spirit, Keep up the good work in promoting bch.