Should We Publish More at Read.cash Now When BCH has Fallen so Much?
To my surprise. I have seen this question turning up. No matter your purpose of being here, my answer is “Yes, we should!” This even offers us an opportunity to improve our earnings.
Puzzling? I will explain it.
If you are here just because you like writing, then there is no question, the price of BCH is not of any real interest to you.
Most of you, however, are here – at least partly – for the tips; to earn by posting. Then there are two approaches. Either you immediately cash out your BCH because you need the money for your regular life – or, you keep what you earn as a long-term investment in BCH.
If you always cash out quickly, the price doesn't really matter much. You get a number of dollars in tips and you cash it out as approximately so many dollars. How many BCH you had as an intermediary is of very little consequence. As long as the swings in price are not too fast, it doesn't mean anything. If you published here before, you can continue publishing with about the same income.
If you earn and save, the price does matter. But if you have followed the crypto industry a long time, you know that deep falls occur, and – even if it can take some time – the price normally increases again. There is no reason for panic. Don't sell, just continue keeping what you earn. Even better than that: keep publishing and earning. As a matter of fact, the presently low price is an opportunity to increase your profit.
Think of it! You earn tips denoted in dollars (which are exchanged to BCH) → 5 dollars before, is still 5 dollars, but with the low price of BCH, it is more BCH. So the result is that you earn more BCH, which is favourable once the price is rising again.
So, as far as I can see, there is no reason for anyone to leave BCH or Crypto, or to stop using Read.cash.
Now I know that for those of you with only a short acquaintance with Bitcoin, a sudden fall in price can be scaring. Yet it is a recurrent pattern, it has happened before. Still Bitcoin and Crypto survived and rose again. The most dramatic example was - if I am not misremembering it – in 2013. There is no reason for panic; just continue to support BCH, the genuine Bitcoin!
Apart from a general fall of the value of cryptocurrencies right now, there is also a systematic attempt by bitcoin maximalists to destroy Bitcoin Cash. Many writers here have written about that, there is no reason for me to repeat all their observations. However, I don't think that is anything to worry too much about. It will delay the establishment of BCH to some extent, but it will not stop it.
Why?
Because in a comparison between BTC and BCH – BCH wins on every point. In the end, competition favours BCH. With SmartBCH as an extra attraction, there is no doubt about the winner.
BTC stopped evolving a long time ago – instead it is systematically destroyed by being gradually transformed to a centralised and controlled colossus in traditional Bigbrotheristic style. The BCH system, however, faithful to its original ideals, is evolving.
True or false about Bitcoin today? And how about Bitcoin Cash? Which one is true to the original values?
Compare some early quotes:
“Bitcoin is a new kind of money. It's the first decentralized electronic currency not controlled by a single organization or government. Its an open source project, and the number of people who use it continues to grow. All over the world people are trading hundreds of thousands of dollars worth of bitcoin every day, with no middle man, no fees, no credit card companies. Its a startup currency which has never happened before.” (Making Money- Gavin Andresen @ Ignite Amherst
“Bitcoin is the first digital currency that is completely distributed. The network is made up of users like yourself so no bank or payment processor is required between you and whoever you're trading with. This decentralization is the basis for Bitcoin's security and freedom.” (weusecoins.com)
“Email let us send letters for free, anywhere in the world. Skype lets us make phone and video calls for free, anywhere in the world. Now there's bitcoin. Bitcoin lets you send money to anyone online, anywhere in the world for less then a cent per transaction! Bitcoin is a community run system not controlled by any bank or government. There's no wallstreet banker getting rich by standing between you and the people you want to send and receive money from.” (ex_ample, reddit user)
Related articles:
Why Do I Not Write about Cryptocurrencies?
Bitcoin: Trustlessness & Backing
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Exactly right, the lower the price, the more satoshis we can stack up for future, I really hope BCH will stay true to its decentralised roots and offer us all a way to send cryptocurrency anywhere in world for a tiny fee in seconds.