Read.cash Will Stay (An Author's Theory).

It's pretty devastating to see that Bitcoin Cash BCH dropped nearly -90% in just a year. From exactly $1,650 (according to Binance Exchange) from May 2021 high, Bitcoin Cash is currently traded around $200 - a massive loss to have when you have bought, accumulated and held BCH when it was above 4 digit value.

Bitcoin Cash was not the only one experienced this kind of massive drop in price. Most cryptocurrencies lost more than 60% after a bull run in the first and second quarter of 2021. Even Bitcoin and Ethereum and other top cryptocurrencies had lost so much from its peak.

As we entered the bearish market on June 2021, Bitcoin Cash were continuously losing value, both technically and fundamentally - the chart were bearish and FUDs around cryptocurrencies affecting Bitcoin Cash.

With the overall FUDs that targeted Bitcoin Cash, probably one of the biggest concern right now in the Bitcoin Cash community is the question of read.cash sustainability. The read.cash platform has been operating very well for 3 years and it has done its core mission- to onboard more people by writing, learn about Bitcoin Cash and cryptocurrencies while being rewarded with $BCH.

Read.cash Sustainability

The platform is a community-funded platform where most of its fund came from Mr. Marc DeMesel. A year ago, Mr. Marc funded read.cash with $1 million worth of $BCH. The fund was more than enough to reward authors for even 5 more years with the help the random rewarder, if $BCH managed to make its price stay above $1,000.

However, since cryptocurrencies are very volatile and price can't be predicted where will it go next, $BCH now is just around $200.

I don't have the exact math or formula of how much have already been spent from the $1 million fund, but the only fact I know is that it has losses so much value in dollar. If those $1 million has not been spent yet, its dollar value today could just be only over $200,000 worth of $BCH. But since it has obviously been used to reward authors in this platform (and maybe in noise.cash too), I am skeptical to believe that the funds is worth over $500,000.

In my personal opinion, even if read.cash only had $200,000 worth of $BCH left, it can still operate normally for more than 2 years using the funds Mr. Marc gave. But this could still be changed if we will see another massive decline in price of $BCH.

Operation Will Still Continue...

I know most authors are very concerned about what will happen to the platform if the funds Marc gave were all used and depleted, and I admit it to myself too. We can't deny the fact that read.cash had a very large space in our hearts and thinking of it to vanished and stop operating is very destressing and somewhat painful. But here are possible scenarios of what might happen.

Rewards will be back to what it was before.

Back then, way before Marc funded read.cash, the platform used a point system to rewards authors and users and the rewards came from other users and the platform itself. The rewards were a lot lesser compared when the random rewarder were implemented but still works out great and produced quality contents from quality authors.

If Marc's funds depleted, the platform can always go back to the old rewarding system and make read.cash continue to operate. There will be lots of differences if that will happen and some authors might leave seeing their rewards decreases a lot from it. But this will also produce and realize passionate authors by staying in the platform and continue to create quality contents without thinking about the rewards.

$BCH instead of dollar in value.

The current rewarding system of the platform is with the use oracle system (there is no official declaration about this but it is obviously what it is). In simple terms, the more $BCH dropped in price, the more $BCH that will be rewarded to authors, and the faster the funds of read.cash will plummets. In order to make the platform more sustainable in rewarding authors, the price of $BCH needs to continuously surge higher so it can rewards authors in same dollar value but with lesser amount in $BCH.

This is currently the flaw (personal opinion) of the platform that one day the team might rethink about changing the current rewarding system.

Like in Pantera's article, the team of read.cash should consider the idea of changing the tipping system with quantity of $BCH rather than using a dollar value.

Changing the system comes with a hidden flaws and it will be realized after implementing. A trial and error might be needed to give more sustainability in the platform.

End.