The BCH community is often not money hungry enough

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Avatar for Kain_niaK
2 years ago

this lead to situations where when money can be made the gap in the market gets filled up by outsiders who most likely will take their new capital and move it outside of the BCH community.

A good example is the current smartBCH sidechain.

When it was launched, nobody in the BCH community was ready with a DEX even though at least 4 seperate teams are working on one. Even though I tried to rally people so hard to have something ready on launch day, even if not perfect.

Why? Because all these teams want to do it proper. Want to build something good, sustainable, that will last and prosper the entire community. And so being first is not important to them. Doing it right from the beginning is.

But this creates a vacuum. On smartBCH this was filled in by benswap run by the benswap dev (most likely the same account on telegram as somebody called Bruce Lee).

But who is the benswap dev? Nobody knows. Is the from the Bitcoin Cash community? No he is not, he has so far only build stuff on Binance Smart Chain.

The benswap dev now has his hands on more then a 1000 BCH. Will this capital stay in the BCH community or eventually be sold for BTC when the bear market starts again? Nobody knows, but there is a very good change that 1000 BCH will eventually be taken away from smartBCH and sold for BTC because when a bear market starts, then BTC is the safe heaven.

Now a member of the BCH community would never do this.

This vacuum is one of the reasons why I created my sBUSD stablecoin. I trust flexUSD, but they were not ready in the beginning.

What if an outsider that nobody knows and that I don't trust would have created their stablecoin? They could have easily gotten hold of 20K worth of capital ... and possible steal it and move it outside of the BCH community.

One our objectives should always be to make sure the BCH community has their hands on as much capital as possible as this is needed to properly kick start the first engine that will hopefully one day start the bigger adoption engine, that hopefully eventually will be able to keep itself running and do more and more RPM.

We need to become more street smart and realize that in certain situation, one of our trusted community members should be the ones to launch something first. As that fills up the vacuum and lowers the risk that outsides exploit those moment where money can be made.

What is the point of SmartBCH attracting capital from OUTSIDE the bch community if another outsider eventually runs away with it and then dumps it for something else?

We do the work and somebody else profits and there is no extra capital for funding our dev teams or helping with adoption.

We need to become more street smart and money hungry, not for personal gains but for the greater good of the community.

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Avatar for Kain_niaK
2 years ago


Are you not planning to list sbusd in benswap farm 😅

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