The Sad Truths Of Where We Are Currently At With Play-To-Earn Games.
NFT games and the idea of Play-to-earn gaming gained its spotlight in the crypto space during the last 2 quarters of 2021. During that time, thousands of NFT and Play-To-Earn projects emerged and it's undeniable that it made a huge impact for the adoption of blockchain that gained the attentions of million people to jump in and learn what's cryptocurrency is all about.
Many people anticipated the potential of NFTs and the Play-To-Earn idea that it will be the future and the traditional gaming where only the company are gaining profits from players will be replaced through this concept. However, things doesn't worked out really well as the risks from it has also risen victimizing a lot and also giving negative impact for the adoption of cryptocurrency and blockchains.
*Image source*: *Europeanbusinessreview*. https://www.europeanbusinessreview.com/how-to-create-nft-games/
It Became The Haven For Scammers.
Believe it or not, with thousands of NFT and Play-to-earn projects in 2021, only a few percentage of those projects are still operating until now. Most of those projects that was launch in the past year was just a scam from the start that eventually exited with people's money - rugpulls, honeypot, slow rug, etc.
The trend has gained the attentions of people, especially those who still doesn't have so much idea of how cryptocurrency works, that were only after the profits it can get from playing NFT games without realizing the possible risks. Scammers took an advantage from people's perceptions with NFT games and found a new way to victimize people and to gain a lot of money.
Scammers, or should I say scam projects, were promising an early ROI (return of investment) for players and people biting into the bait. Some can possibly get their ROI with it but mostly people will just eventually get trapped after the hype. This kind of scheme is obviously a first come first serve basis. The early you are, the more possible you can get your investment back and possibly get a good profit.
There Is Still A No Sustainable Model.
The biggest problem of NFT games is to how they can make a very sustainable economy while giving out rewards to its players. We have seen a few strategic approach by great developers with an economists on their side but still that didn't turned out well.
First thing was implenting an "oracle-system" rewards where players can get a reward from the game depending on the oracle's reading. Oracle's job was to maintain the dollar value each players can get from playing the game. This is how oracle works for rewarding players;
If the price of the token goes up, players will be rewarded with lesser tokens but will still have the same dollar value. Meaning, even if the price surges 100% or beyond, the rewards will still be same in dollar value but different in token's quantity.
But the mirror of this is where the problems occur.
When the price of the token goes down as well, the players will still receive the same dollar value but with more tokens. Meaning, everytime the price of the token goes down, players can get more quantity of tokens while maintaining the amount of dollar it can get. And this was the hidden problem for every oracle games.
This was just recently realized that an Oracled-system reward's nightmare will be when the price is being on a downtrend. If the price of the tokens continues to in a bear trend, players will get more and more tokens from the reward pool and that will eventually deplete it and the project will eventually announced "bankruptcy" in their reward pool.
Another rewarding system Play-To-Earn projects uses are by using a dual-token system - one is the governance token and one will be the reward token. We know few NFT games uses this kind for rewarding players in the game such as Axie Infinity with $AXS and $SLP and Pegaxy with $PGX and $VIS.
Dual-token system was a good approach for rewarding experience but it was not sustainable. When a game gathered a lot of attentions and onboarded people to play the game and get rewarded, the game will be minting more token supply to reward those players. The game mostly have this "scholarship program" that can let people who doesn't have an initial amount to buy their own NFT to play by being a scholar and can start earning tokens with the lended NFTs. And this is where the problem in the economy for the dual-token games start with - supply and demand.
The supply of the rewarding token will eventually experience massive inflation because lots of players are minting new tokens in the game while having lesser demands from its use cases causing for its price to tank. Reward token in a dual-token system game will be the most affected since players can get it almost easily and can dumped/sell it in the market to gain profits and get their investments back.
Conclusion.
We are still obviously in the early stage of blockchain gaming and what's happening with it right now can still be considered as trial and error. Especially with the economy and sustainability problem, we can consider this as a temporary hindrance and the space will soon realize how to have a sustainable economy.
END.
Testing Stability: MDP Open Beta Arena & New Added Updates.
New Boss Fight concluded - 8 seasons, 15 days for each season and thousands of $DPET tokens and $Elixir were rewarded to players during the first 4 months of the first play-to-earn feature of MyDefiPet. It's been fun playing the game amidst a lot of FUDs from its community for a reason that that MyDefiPet is taking things slow for the release of the Play-To-Earn Arena.
It might be slow and giving uncertainties to players but MyDefiPet team are making sure the release of the real adventure with its Arena Play-To-Earn mode and today, MyDefiPet takes another step to give players a new update in the game and what to expect.
Off-chain Pets Generating Resources.
The new update was a release also for players who still owns 0 NFTs (pets). Yes, players who's planning to try the game but still hesitant to hatch eggs and get a pet will be given an in-game pets. The in-game pets are not an NFT therefore it cannot be traded, deployed in Boss Fights and cannot be use in the Arena.
The main purpose of the off-chain pets is for players who doesn't have any pets to generate resources in the game for free - silver coins and foods.
This off-chain pets has something alike with the NFT pets of MyDefiPet. Off-chain pets are upgradable and can be evolve too. The higher the pet's level is, the more silver coins and foods it will generate. So if you are still planning to be part of MyDefiPet, it's better to create an account and take this free non-NFT pet and let it generate resources for you while you are still undecided.
It is still unknown how many of this untradable pet each account can have but as for me who a level 33 account, I already got 2 of the off-chain pets generating resources freely for me.
To be honest, this pets are lovely (while most are funny). You can't choose your own kind of pets because you need to hatch in the incubator. You can be lucky to get a beautiful off-chain pets since hatching it will be random. Hatching it will only cost 5,000 silver coins while evolving it costs 50,000 silver coins. If you have a lot of NFT pets, hatching and evolving it will not be a problem.
Arena Open Beta - Soon To Rewards $Elixir.
The Arena is getting near to be played to earn by players but the new update was only to ensure the stability of the Arena. This is a considerable steps to ensure some sustainability in the game as thousands of players are eager to play it already.
In the old patch, players can battle with other players in the arena for 10 times per day. Every win can gain trophies while losing a game can also lose players some trophies. You can also earn some trophies if you win a defense from an opponent's attack.
However, whether you are in the top rankings or in the lowest, the patch haven't rewards players yet because the first release of the Arena was only for testing on how the game will handle players. But the new update made some considerable changes.
In the new/current season, the game will rewards players with resources - foods, silver coins and gems. The 3 resources are the in-game resources of MyDefiPet that can be use to upgrade your cages, pets, banks, etc.
The highest ranked players will be rewarded with gems while the lowest ranked players will be rewarded 55,000 foods (see image below). It's not bad to have this rewards as gaining 55,000 is hard to generate especially with fewer pets and plants and can be helpful to level up your pets.
This kind of rewarding players is still a beta test and to check the stability of the Arena. According to the announcement of MyDefiPet, once game realized stability, the next season will be the full release of the Arena and will rewards players with $Elixirs every end season.
Boss Fight Season 9 Incoming.
Just during the release of the new update, the Boss Fight Season 8 has also ended. It was really unannounced and only players who were tracking the levels of the Boss knew it. There is still no announcement when will the season of Boss Fight will be but it will eventually sooner than we think or after it sends the rewards from Boss Fight Season 8 to the players.
Final Words.
MyDefiPet was launched for nearly a year by now and still lots of players are anticipating its Play-To-Earn mode release. The Boss Fight is not enough because it lacks competitiveness and not a skill-based gameplay. Players, like me, have been waiting for a year for MyDefiPet to be really playable and waiting for a months won't really bother me as I still have trust in the game and believe it will be fun and enjoyable NFT game sooner.
Image Source: *MyDefiPet*. https://play.mydefipet.com
Saving Your Portfolio: How To Find Red Flags In A Crypto Projects.
Getting early in a project and investing right into it is not always the best move for your portfolio. Any projects will do anything to market their product and hype investors to invest in their project and promote it to more people.
Scam projects might even invest in some influencers to promote them to gain more appearance and attentions to a lot of people. This way of onboarding people in a project is not new and being considered as "normal" in the space. Most crypto promoters or influencers doesn't really care about its followers when they get wrecked and always use the line "not a financial advice" as a shield but takes credits as the best and accurate crypto gem callers when the project made a lot ROIs.
Through experiences and the few things I learned in the crypto space, I have compiled the things I do to realize if the project is not worth holding on or worst... not worthy of your investments.
Undoxxed Team And Developers.
Doxxing is a slang word and is a most usable term for "revealing" in the cryptocurrency space. This is a very basic approach to know if you are in the right project and your investment is safe because the people behind it had gained your trust by risking their information by showing it to the public in order for the project to be more transparent.
Being doxxed mean offering to the people their official social medias to be seen in public and showing their real face in their website, whitepaper and especially in every AMAs. With this, investors can have more confidence in the project.
Undoxxed project is a way for the scam team to cover themselves from people to locate them after the scam has been done. Except for tracking the team's wallet, there's no other way to report those scammers and you only have to move on and wish them the best (sarcasm).
But of course, undoxxed project doesn't always turns out to be a bad project. Take Bitcoin for example. The creator of Bitcoin, Satoshi Nakamoto, is until now an unidentified identify and look where Bitcoin is now. But, additionally, doxxed projects doesn't always mean that the project will succeed. With thousands of crypto projects in the past 10 months, there were also lots of them that shows transparency but still turns out to scam its investors.
This is why cryptocurrencies is a very risky game. You may never know what will really happen and you can only rely on your strategy to minimize the risk you are taking.
Team's Holdings And Control Over The Tokenomics.
This is probably the most important thing every investors should know when they have already invested in the project and planning on "buying the dip" to average their entry. But little did you know, what you think about saving your entry cost will not always work when a few wallets have a huge percentage of the supply and people behind it can change what's in the smart contract of the token.
In every project, there will always be wallets that already holds the token even before it launches for the public - insiders, the team, pre-salers , etc.
And the most known case as a red flag about the project is when a few wallets were holding a huge supply - even 5-10% is huge and can have an impact on the price when it's sold. Of course, this will not be the case if the wallet holding a huge supply was a smart contract or it was locked or a burning wallet. So if you ever saw a wallet that contains a huge percent of the total token supply, better ask yourself if you can the risk of losing when those wallets dumps those tokens.
You can find the holders of the token in the (chain)scanner like etherscan in Ethereum and bscscan in BNBChain for example. Unfortunately, I don't think that you can view the wallet holders in SmartBCH chain or I could be wrong and I haven't look at it thoroughly yet.
Lastly, is when the team or developers still have full control of tokenomics or smart contract.
What does it mean?
There is this important thing about the smart contract - being renounced.
When the smart contract is deployed, the developers of the project has a total control of the token. The developers can change if the token will be limited of not, can add tax or not and can decide if the token will be sellable or not. This is only a few examples of what the developers can do if they have the control of the smart contract - and wise traders and investors are avoiding this.
But if the developers has renounced their ownership, they cannot change anything in the smart contract anymore and it will be fully community-driven.
Renouncing ownership means that everything that was set in the smart contract will not or cannot be changed anymore. If the token were meant to be unlimited, then it will be like that forever. If the buy and sell tax is 10%, then traders will always be charged with 10% for their every trades of the token.
Image sources: freepik.com, DLM. https://www.freepik.com/free-photo/impressed-wondered-goodlooking-caucasian-male-model-modern-grey-sweater-gasping-amused-say-wow-fascinated-pointing-left-curious-found-interesting-product-gather-info-about-it_24644959.htm#page=2&query=curious%20man&position=4&from_view=keyword https://www.google.com/imgres?imgurl=https%3A%2F%2Fwww.dumblittleman.com%2Fwp-content%2Fuploads%2F2014%2F06%2FRedFlag.jpg&imgrefurl=https%3A%2F%2Fwww.dumblittleman.com%2Ftop-five-red-flags-online-dating%2F&tbnid=G1_nj_Z_HKwXAM&vet=1&docid=Zqh32ORp_gAKGM&w=5000&h=5000&itg=1&source=sh%2Fx%2Fim
END.
Busting Hopium: $SLP Token Will Reach $0.20 To $1.00 Because Of Axie Infinity Origin.
Axie Infinity Origin is just around the corner and soon will be released after getting a delay due to an impact from the recent Ronin Bridge hack. Players are excited for the release as the new mode will give additional use-cases for the game's currency and speculates that $SLP will have more scarcity and that will be shown through its price.
Now to the main concern, people or the players of Axie Infinity are once again having hopium that $SLP token will reach again over $0.20 like it did during its 2021 bull run where the price almost reaches $0.50. At that time, Axie Infinity game had a lot of demands as the trend for NFTs were starting to build up and minted $SLP tokens are still less compared to its demand (e.g. breeding).
Axie Infinity gained a lot of attentions and onboarded investors and million of players through scholarship program around the globe. And this is how the problem for the reward token $SLP started as its supply keeps on increasing from infinite minting in the game that overtakes its in-game demands causing to slowly drop on its price and losing its value as players need to take profit from the game.
Why $SLP Will Not Easily Reach It's 2021 High.
Or worse... It will never reach that price level again ($0.46).
*Source:* *Binance* https://www.binance.com/ph/blog/markets/how-to-transfer-axs-and-slp-from-axie-infinity-ronin-to-binance-421499824684902754
The native token of Axie Infinity $AXS has a fixed supply - no more tokens can be added in circulation. While the reward token $SLP has an infinite supply and can be infinitely obtain from playing the game.
$AXS token can be more scarced and can have more demands because of its tokenomics while $SLP can only steadily lose its value because its use-cases are not enough to cover the supply being minted everyday.
According to Coinmarketcap and Binance Exchange, the price of $SLP right now (04/12/2022) is just over $0.017 with a market cap of $93 million. Currently, the circulating supply of $SLP is almost 5.4 billion tokens and this will keep on increasing if no other solutions can be found to fight the inflation.
Axie Infinity has a burning mechanism for $SLPs but the plan was not enough to save it from inflation. It is barely holding on from players breeding in the game to sustain and fight inflation.
Can $SLP reach $0.50?
The best answer for that is **very unlikely**. Why? Here is a calculation;
Let's say that the supply of $SLP will not change- no added supply and no burning of tokens.
Formula: Price x Circulating supply = Market cap.
Price = $0.50
Circulating supply = 5.4 billion tokens
Market cap = ?
$0.50 x 5.4 billion tokens = 2,700,000,000 or $2.7 billion dollars in market cap.
$SLP will need to have a market valuation of $2.7 billion dollars to reach $0.50 - take note, if there is no added and burnt tokens.
If this happens, $SLP will take over top projects in the market cap such as exchange tokens like $KCS, $HT and $WAVES. It will be almost even in market cap with $AXS token that is just over $2.9 billion. Reaching $0.50 price for $SLP would mean overtaking real projects with real-world use cases and market makers doesn't see any reasons for $SLP to reach that valuation.
As a reward token that can be obtain with no limitations, $SLP will just continue to suffer and experience hyperinflation in the future if the game behind it can't find a sustainable solution. The infinite minting of $SLP tokens in the game is currently the biggest problem in the economy of Axie Infinity as it lacks use-cases and not enough burning mechanisms.
Final Words.
This is my personal view and speculations about Axie Infinity and $SLP token. I deliver this article base on my observation, knowledge and understanding about the game and of course, for the better, I want to be wrong about this. However, metrics will speak for itself. With the release of Axie Infinity Origin, hopefully it will fix the current problem/s of the games in their economy. There will always be chance for $SLP to regain its past highs and it will be up only to the developers of the game on how they should act on it.
Castle Crush To Integrate Free And Play-To-Earn Gaming In The Game: Thumbs Up WildLife Studios.
As much as we want to play and earn with thousands of NFT games right now, there is always a place in us to play the games we used to love before NFT and P2E games were discovered. Take Clash of Clans (COC) for example.
As for me, Clans of Clans has the perfect gameplay, especially in the builder base, to have a solid and enjoyable game of they ever integrate Play-To-Earn mechanism. I've been playing Clash of Clans since 2014 and with the knowledge I have in Play-To-Earn and NFT Gaming industry, and if the industry will move even further beyond for adoption, there is a little hope that SuperCell (developer of CoC) will integrate Play-To-Earn gaming in one of their games or develop another game with it.
But my longing to play an old but enjoyable and competitive game was evaporated after discovering Castle Crush game that was created and developed by WildLife Studios.
Castle Crush Game.
The game was released on 2017 and available on Google play and was downloaded for over 50 million times. It's an old game but the developers behind it are planning to make it more exciting by integrating NFTs and Play-To-Earn feature.
Castle Crush is a unique Person versus Person (PVP) strategy game where you can battle players on real-time. Players can collect cards from playing and winning in the game and they can upgrade it to a higher levels if a certain amount of the same cards is available.
Players battle each other to victory by making their own strategy on how they place their characters (cards) in order to rampage their opponent and destroy the opponent's castle. There are more than 40+ cards in the game and players can acquire it through battles, events or purchase it.
Gameplay.
I made a recorded video of one of my real-time gameplay in the game and wasn't not expecting that it will take to more 4 minutes of battle. Usually, the battle can only take up to 2-3 minutes. But if the battle is intense, especially in higher ranks, the battle could even take longer than 5 minutes.
https://youtu.be/ks5vFPaD9ZY
As you have seen in the video, I was still waiting for my mana (the blue circles) to generate for me to be able to choose a character and deploy it in the battlefield. Each characters requires different amount of manas and it takes a certain time for it to be available to deploy. But as the games goes on, the mana will regenerate faster and the availability of the characters will be faster too. It's a fast-paced game and happening on real-time and an immediate strategy is needed for you to turn the battle in your favor.
Wildlife Studios.
Wildlife Studio is not new in the gaming industry. It is **one of the top 10 biggest game developers in the world** with over 70 released games and being played by millions of players around the world.
Earlier this year, the company announces its new step of evolution by entering the world of blockchain and NFT gaming. Starting with their famous game Castle Crush, they will allow players to earn in the game through gaming and in-game trading.
In-game Rewards And Its Token.
Players can be rewarded in the game with chest that contains a different set of cards, green gems and gold coins. Players can also earn Ascension Token (no ticker yet) through battles, seasonal rewards and tournaments in the game. The Ascension will be the blockchain token of the game and its price will be realized after the token is launched.
Castle Crush Roadmap.
April:
Market and NFT launching.
May:
Art Overhaul and new max player level.
June:
Card renting.
Ascended cards available to play.
Minting and upgrading NFTs in the game.
Quarter 3:
Championship event
Honor battles
Quarter 4:
New set of Ascension NFTs.
Conclusion.
The game is very unique compared to other Play-To-Earn games. Wildlife Studios will only need to focus more on their token's tokenomics and the game's economy for it to avoid failure that other NFT games had gone through. The game has a solid, fun and competitive game and together with free Play-To-Earn integration, more and more players can be onboarded in the game.
A Fair Warning To All SmartBCH Traders.
SmartBCH is relatively new for traders from different chains and even for people who were around in the Bitcoin Cash community since it goes live. According to maketcap.cash, there are over 90 tokens right now in the SmartBCH chain and nearly 40% (or maybe more) in the list were seen to be just slowly dying showing the degen has been done. https://www.marketcap.cash/
Over the next 6 months, I personally expect that more projects will be launched on SmartBCH promising great returns of investment while delivering a so-called "great product" together with their tokens with a bad tokenomics. This is not a FUD to create bad impressions for SmartBCH from people and its investors but rather kindly take this as a guidance before jumping into it/the projects around SmartBCH. Believe it or not, scammers or cash grabbers will soon jump into the SmartBCH ecosystem, create a project, and will slowly operate their scheme to create money out from their inventors.
Prove me wrong, seriously because I might be wrong about this, but you can't still find it anywhere, a place where you can make a small research about the project, the tokenomics, liquidity and etc. except in the project itself and creators who promote it.
As a trader from different chains, where in BNBChain had a lot of bad experiences that turned into a lesson, I want to share all the experiences to people who are in the SmartBCH project to make them avoid any potential loss of investment in a project that was purely a fraud from the start.
*Image from* *Binance**.* https://academy.binance.com/en/articles/what-is-bitcoin-cash-bch?amp=1
Always Learn The Tokenomics.
If you are just buying a token with hundreds of decimals thinking it was cheap and early without knowing the tokenomics of the token, then you are probably about to lost your investment.
Knowing the tokenomics means knowing (basic);
The total circulating supply of the token
Max supply of the token
How much goes to the developers or someone (e.g. charity)
How do they burn their tokens (if there's any)
How much tax they put for every buys and sells (if there's any)
Can anyone or someone have control over the token's smart contract?
The bad part of not understanding the tokenomics is that people tends to expect that the price of their token will PUMP very hard because the price is very CHEAP without knowing the tokenomics and considering the market cap.
*"The price now is only $0.00001, if this goes to $1.00 I'll be rich.".*
Hate to tell you that it's 99.999% impossible, especially if the token has reached a considerable market cap "to sell at". When that token as 1 trillion in supply, it needs to have a $1 trillion market cap for it to reach $1.00 in price.... The next Bitcoin eh?
Another thing to know is knowing the supply of the token and will there be any additional supply. Some smart contracts were program or controlled by the developers to mint new tokens - why? For some reasons. Maybe to reward their community? There are variable reasons for it but the most probable reason for it is that it will be dumped to the market (sell).
*Note: Tokens with infinite supply were and will not be a bad investments. Take Ethereum for example. Explanation will be on the next article.*
**How will this give an impact?**
Huge! A very huge impact will occur. Because minting new tokens and selling it on the market, or should I say dumping on investors? You bet it is!
Based on my personal experience in degen trading or finding low cap gems, developers tend to use this strategy take "profit" from Investors. You still don't get it? I'll even make it simpler;
Investors will buy the token in the market making the price go up.
While developers can mint or create new tokens and sell on the market making the price go down.
Get it now? So you should ask yourself, "how can I avoid this?"
This is some of the problems I saw in SmartBCH (or I could be wrong). You cannot see or it's not available to find the smart contract of the token. Knowing the smart contract would mean;
Seeing the tokenomics and the ownership of the contract; owned ownership means the developers can do anything to change anything in the token's smart contract while renounced ownership would mean the token's smart contract is already fixed and developers can't do anything to change it.
Conclusion.
Learning the tokenomics is also learning how your investment can potentially perform, especially in the long run. I wanted to make this as a "deep-dive" article but this could confuse anyone new into it so I made it as newbie-friendly as possible.
7 Articles And $52.86 In A Week: A Good Restart In Writing.
Writing and publishing articles in different publishing platforms is really fun when you are learning from different authors and at the same time earning in those platforms from being a publisher. I've been writing articles in Publish0x for over a year but I only gained good amounts from participating in competitions such as meme contests and writing contests. I am also publishing my contents in Hive but as someone that still have a low HP and voting power, I don't expect much earnings but always glad for the few dollars I can receive with my contents.
This is not a blogging platform but being a pioneer in noise.cash is really an advantage. Interacting with other users, making a noise(post) and receiving some BCH satoshis is a big difference compared other social medias where you get nothing in return but just wasting your data.
Of all the platforms I've been using, read.cash is undoubtedly the best and tops it all. I've been publishing contents for 1 year and 6 months in the platform but unfortunately with different accounts. My late account were having problems that I hardly concluded that cannot be fixed anymore. I tried emailing the support and waited for weeks but get nothing in response. I made a hard decision to abandon it and decided to restart my writing journey with this account, and I am still very fortunate that I was off to a good start and my first week of writing went well. This content is a compilation of my articles in the first week of writing again and briefly explaining it and the amount it receives.
1. Bitcoin Cash To New ATH?
The first article I published was titled with **Bitcoin Cash To Past 2021's High: Can We Now See BCH Over $2,000?** https://read.cash/@Mr.Valentine/bitcoin-cash-to-past-2021s-high-can-we-now-see-bch-over-2000-1389c83a
This article tells how bullish I am with Bitcoin Cash BCH for this year especially that it's gaining attention as a legal tender in one island in the Caribbean. This also tackled my personal view and technical analysis for Bitcoin Cash and shows how it can get past $2,000 for this year.
I made an effort to publish a good content as my first article and fortunately it gained hundreds of views from different authors in the platform. It also received a total of $29.97 worth of Bitcoin Cash BCH from the rewarder and other users.
2. NFT Problems.
The second article I immediately published is what I personally liked to share especially to everyone who loves NFT games. It was titled **Big Problem Of NFT Gaming That Everyone Must Know.** https://read.cash/@Mr.Valentine/big-problem-of-nft-gaming-that-everyone-must-know-3db6aab2
This talks about the very big problem of NFT games which is inflation. I also explained how this problem is just temporary and overtime this problem will be solved and we will have a sustainable NFT Gaming experience. Loved to see it gained $4.34 and it was worth publishing it.
3. BCH To Get Past BTC.
My article **Bitcoin Cash Will Eventually Get Past Bitcoin And Its All-time High.** is my personal idea how Bitcoin Cash BCH will dethrone Bitcoin BTC, the better it is to be a legal tender and why Bitcoin Cash BCH will eventually break its past all-time high and how I called it a gem for the future. And i gained $5.34 on this one. https://read.cash/@Mr.Valentine/bitcoin-cash-will-eventually-get-past-bitcoin-and-its-all-time-high-2db896d1
4. How Traders Lost Money?
My **How You As A Trader Will Lost Money In Trading: The 3 Reasons.** is an article out from experience. I published this for everyone to learn and avoid this mistakes and also to avoid losing money in trading cryptocurrencies. And it got $3.86 from readers. https://read.cash/@Mr.Valentine/how-you-as-a-trader-will-lost-money-in-trading-the-3-reasons-e8e34beb
5. OJT Application.
My 5th article was not about cryptocurrencies but rather a blog about my day in school being a 4th year student and an **OJT applicant.** There was nothing important on this article from everyone who reads this as this is just merely a blog. Somehow it gained $4.04 of BCH. https://read.cash/@Mr.Valentine/ongoing-ojt-application-evaluation-of-grades-settling-and-checking-requirements-196d6b61
6. Kucoin $1 Million For Content Creators.
I love participating in competitions and this one is a huge opportunity from **Kucoin for content creators.** The program is only simple, all you need is to make a content that is related to Kucoin and submit it to them. They will just announced the winners and if you are lucky, you can get $500 up $1,250 worth of Bitcoin that will go directly to your Kucoin account. https://read.cash/@Mr.Valentine/1-million-for-content-creators-lets-learn-about-the-peoples-exchange-86349c7e
7. Free P2E Yulgang Global.
I love NFT games especially when you can earn from it for free. I saw this new game called **Yulgang Global** and it's an MMORPG game where you can earn tokens for free. No money investment, just your time and perseverance. It's a new game so I still expect some flaws from it but the fact that the game is fun and rewarding is what matters. And $4.40 of BCH was gained from this article. https://read.cash/@Mr.Valentine/playing-and-earning-in-yulgang-global-new-free-p2e-game-thats-smooth-on-mobile-eab05e48
Conclusion.
It will never easy to restart a new journey and leave the things that's important to you. Sometimes you need to sacrifice something in order for you to keep on moving forward. Right now I am growing my account, everyone I see under my article will be greatly appreciated and an interaction will be a return.
Learn To Trade And Earn For Free With Crypto Premier League: Daily Rewards To Grab For Free.
Starting to learn about trading can come with a cost and pretty risky for everyone who wants to try it out. Beginners in crypto trading or someone who wants to start trading would need an initial amount and take the risk of whether gaining a profit or losing the trade in exchange for experience.
As the cryptocurrency space is consistently evolving, more ways and opportunities are also coming in the field in order to onboard more people and teach them about trading and cryptocurrencies.
I came across this decentralized platform where it let its users to experience and learn about trading and incentivize them for gaining profits. This is not an NFT game but it has the Play-To-Earn mechanics that rewards players in a form of cryptocurrencies. The game is called Crypto Premier League - a decentralized gaming and trading platform to earn cryptocurrencies.
Let's Learn About Crypto Premier League.
Crypto Premier League or CPL is a decentralized application where players can learn how trade and get rewarded when gaining a profit. The application is purely decentralized and you are only required to have your own wallet to import or just create a new wallet inside the app.
**1. Game Mechanics.**
The game is currently purely about trading but it doesn't totally requires its players to spend money on it. The game itself will give its users a $1 million trial fund for trading and you can't withdraw it, you can only use it to buy or sell cryptocurrencies in the game.
The game resets every 24 hours and after that time duration, the game will conclude the 400 players with the most gains and rewards them in $BNB with $1.00 value. For you to win, you need to have more than $0.1 profit and must reach the top 400 rank. The game is pretty simple, pick an asset, trade it with any amount not more than $1 million and wait for 24 hours to be concluded.
**2. You can also pay to play.**
Of course, it would be a bit boring to wait for 24 hours to play another trade so the game also gives an option for pay to play trading.
It almost have the same mechanics with the free play to earn trading but there are also differences:
Players are required to pay a fee to enter game. But worry not, if you don't win in the game, the game will give 100% of your fee back to your account. And that is so cool!
There are only fewer winners.
The game is very limited compared to the free one (can take up to 4 hours only).
**3. Trade Bitcoin and earn $CPL Tokens and $BNB.**
Another opportunity I love in the game is playing the MicroTik Games where you long or short Bitcoin and get $CPL tokens if you reach a minimum 40 points with no limits.
The game is only limited to 5 minutes and after the duration, if you have enough points, the game will reward you with $CPL tokens. If you have a good performance and consistently ranking up in the leaderboard, you will also get rewarded with $BNB when the game ended. The game refreshes everyday and there is no limit on playing it.
The $CPL Token.
Crypto Premier League has its utility token with a ticker $CPL. Currently, the $CPL token hasn't launched yet therefore it still don't have its value. The team behind the game are still working on the tokenomics of the token and right now we can only earn it inside the game. When the token is launched, you will get 30% of all your $CPL tokens in the game and the other 70% will be vested for 9 months. So while waiting for its launch and its price, the best thing we can do is to get those $CPL tokens in game as much as we can.
How To Start Playing The Game?
Download the app on Google Playstore. https://cplcrypto.page.link/VmhgSRoGEvk9FW168
Import your wallet. For security, you can just create a wallet but make sure to secure the private key.
Start playing the game and get those tokens.
**Final** **Words**.
The game/application is very smooth even for low spec mobile devices. Trading in the game is pretty easy and when you get to learn about it, you can possibly get on the leaderboard and get rewarded. For now, we should love getting the tokens of Crypto Premier League as no one knows how potentially it can be when its already launched.
Playing And Earning In Yulgang Global: New Free P2E Game That's Smooth On Mobile.
If you know MIR4, a free to play MMORPG game with a play to earn mechanics, then you have probably regretted if you have only ignored it and missed the earning opportunities it has given to thousands of its players. I knew the game, MIR4, when it was just new but for an unknown reason I ignored the game. When people were playing and earning from the game, I realized that I needed to try this it. I tried to download it from Google Play Store but unfortunately it says that my device is not compatible with the game even though I have a good model of cellular phone, so I tried downloading it on APKPure market and somehow got a successful download.
When I was playing MIR4, the game is slow and lag. Sometimes it took me an hour before I can start playing because the server is always full and you need to wait in queue for you to enter the game. Honestly, MIR4 is a beautiful game but it is not mobile friendly. I realized that I can't play this game anymore because of the lags and overloaded servers.
When the month of April started, I heard that there is this new game again from WEMIX exchange that is almost the same with MIR4, a new P2E MMORPG game that is free for everyone. The game is called Yulgang Global and I immediately tried it out.
Playing Yulgang Global.
To be honest, I am a gamer but I am not that much of a fan of MMORPG games. I know it could be fun but I felt that it was not my taste to play this kind of game. But with the concept of play to earn gaming, I didn't hesitate to download and install Yulgang Global.
The good thing about this game is that you don't need to hassle on signing up and creating an account. All you need to do is to use your email by connecting your gmail into the game and you can start playing.
After creating an account and choosing my character, the game started immediately. There was no introduction in the game and you don't really need to hassle on what to do first and what to do next, because you can just simply click on the tasks in the screen and your character will just automatically finish it. When fighting, you can also use auto-battle and your character will automatically fight and cast its skills on its own.
One thing I like about the game is that unlike MIR4, the game is very smooth and you can just experience some lags if the servers are overloaded. And with MIR4, before you can play the game, you need to download resources that will cost almost 8 gigabyte in your storage, but with Yulgang Global, you only need around 3 Gigabyte and you can smoothly play the game.
How To Start In Yulgang Global?
Here are the easy steps on playing the game:
Download the game on Google Playstore.
Download some resources of the game (automatic). This can take up to 20 minutes depending on your internet connection.
Sign up using your gmail.
Select your server (Recommended: Do not choose PH servers because all of its servers were heavily overloaded. Better to use other countries server like NA.
Choose your character and set a name for it.
Start playing!
That's how easy it is. You don't really need to worry about what you should do in the game because the game itself will guide you.
How To Earn In Yulgang Global?
Yulgang Global has two currencies - the $TIG token and the game currency called Crystals.
$TIG token is only available to trade on WEMIX exchange while Crystals are the currency used in the game. Crystals can also be earned in the game can only be exchanged into $TIG token exclusively inside the game.
There are lots of ways on earning Crystals in the game:
Finishing Daily Quest.
Finishing Daily Events.
Mining in Dragon Cave and Demon Hunter Cave.
Finishing Tasks and leveling up.
Crafting materials.
Note: Before you can go and start mining Crystal in the caves, first you need to achieve level 40 and make a second transfer in the (transfer of pets).
Another thing is, you need to have a WEMIX account for you to receive the $TIG tokens. Create an account, bind it in the game and forge those Crystals into $TIG tokens.
Earning In Yulgang Global.
As of April 06, 2022, it has been 2 days since I started playing the game. I really grinded hard to achieve level 40 and right now have 12,000 Crystals in my account. It should have been 15,000 but I used some Crystals to upgrade my pet and some in-game items.
If I were to convert this Crystals into $TIG tokens, with a ration of almost 500:1, I can get around 6 $TIG tokens from it. The trading price of $TIG on WEMIX is around $0.09 per token, so much likely I now have around $0.50 by playing the game. I only got this small amount first because I still haven't unlock other tasks and the Caves where players can mine Crystals.
Of course this is a small amount for starters, but the higher your level is in the game and the further you reach playing it, your earning capabilities will also adjust. Just don't forget to finish the tasks everyday and get those Crystal rewards.
Conclusion.
Yulgang Global is a free Play-To-Earn game and your investment is only your time for it. Since this is free, do not expect so much on earning thousands of dollars from it. You can get a very good amount from the game while enjoying it is what should really matter. After all, it's an opportunity you cannot just miss.
$1 Million For Content Creators: Let's Learn About The People's Exchange.
Kucoin Exchange is one of the top tier cryptocurrency exchanges to easily buy, sell and hold Bitcoin, Ethereum, BNB and hundreds of other cryptocurrencies. Compared to other trading platforms, Kucoin offers lesser trading fee for different cryptocurrencies available on the exchange.
Recently, Kucoin published an article about their Content Creator Program where content creators can win up to $500 in $BTC by making a content about Kucoin and cryptocurrency space. If you are a content creator and has the skills to write anything about Kucoin and cryptocurrency, then you are invited to take part in this program. https://www.publish0x.com/a-deep-dive-into-defichain/writing-content-to-share-1-dollar-million-rewards-xglkqmy
*Source Link.* https://www.publish0x.com/a-deep-dive-into-defichain/writing-content-to-share-1-dollar-million-rewards-xglkqmy
Kucoin- The People's Exchange.
I've been using Kucoin Exchange for quite some time now and I love using the platform not just for trading. Kucoin Exchange is also one of the haven of people looking for potential coins or as they call it "hidden gem". There's no doubt that Kucoin as a tier 1 exchange really loves offering to people a project with huge upside potential.
Kucoin Exchange launched their platform on September 2017 gaining almost $28 million in their Initial Coin Offering (ICO). And since then, Kucoin continue to operate successfully and offering its users a different ways to earn and learn about cryptocurrencies.
Trading In Kucoin.
Kucoin offers 4 trading accounts;
Spot trading
Margin trading
Future trading
Pool-X
In **Spot trading**, users can buy and sell cryptocurrencies without the risks of being liquidated. Users can safely store their assets and hold it until they decides to take it out.
With **margin trading**, users can borrow funds using their assets and trade it with other assets available with minimal risks of being liquidated.
In **future trading**, traders can leverage trade up to 125x. Future trading is very risky and you need to do more research about it especially with risk management as traders are more expose of being liquidated when using high leverage. Always trade responsibly.
Lastly, using **Pool-X**, users can take part in the staking pools available in Kucoin and get rewards from it. Users can safely stake and unstake their assets without fees needed to pay.
Earning Opportunities In Kucoin.
One reason why I love Kucoin is that it offers lots of earning opportunities in their platform.
Trading Bot - you can use trading bot if you don't have much time to trade and just pick on the available options such as; https://robot.kucoin.com/?lang=en_US&from=https%3A%2F%2Fm.kucoin.com%2F%3Flang%3Den_US
Spot grid
Futures grid
Smart rebalance
Infinity gird
DCA
You can learn more about how trading bot works here and start using it. https://robot.kucoin.com/?lang=en_US&from=https%3A%2F%2Fm.kucoin.com%2F%3Flang%3Den_US
Kucoin earn - with Kucoin, users can safely stake their favorite assets in the Kucoin earn page and get a yummy APR or APY returns from it. How lovely it is to hold your favorite assets while earning just by holding it in Kucoin?
Crypto Lending - users can also lend their assets to other users and in returns get some yummy interest from it.
KCS Bonus - if you are a fan of Kucoin and its token $KCS, Kucoin will rewards or airdrop you with token just for holding $KCS in your account.
Rewards Hub - finished the tasks ang Kucoin will reward you for doing so. Take part in its learn and earn,trading and other tasks and get those rewards!
There are still lots of earning opportunities that needed to be covered in this article from Kucoin such as Kucoin Pool, Affiliates, Referrals, Kucoin Win, cloud mining and a lot more. All you need to do is register on Kucoin and take advantage of it.
The $KCS Token Of Kucoin Exchange.
The $KCS token is Kucoin's native token and can be use to pay trading fees with a huge 20% discount when trading in Kucoin Exchange.
$KCS was issued as an ERC-20 token living in Ethereum chain with different purposes.
Incentives users that registers in the platform
As a staking rewards.
And of course as trading fee in the Kucoin Exchange platform.
At the time of writing, $KCS token is at $21.4 per token, it was up by more than 30% over the past 2 weeks.
With a market cap of just over $1.54 billion, a circulating supply of 79.2 million $KCS and a max supply of just almost 170 million tokens, $KCS token still has a lot of room for potential growth. And not a financial advice, as a utility token of a global exchange, $KCS is probably one of the best investment we can have in our portfolio.
Last Words.
Kucoin Exchange is one of the most leading cryptocurrency exchanges that allows mass crypto adoption by offering different great services to everyone especially for new people on the space using their platform. Thanks you Kucoin for the great services!
Learn more about Kucoin's $1 million Content Creator Program. https://www.publish0x.com/a-deep-dive-into-defichain/writing-content-to-share-1-dollar-million-rewards-xglkqmy
#GetFreeBTCWithKucoin
Ongoing OJT Application: Evaluation Of Grades, Settling And Checking Requirements.
It's already the first week of April 2022 and this month marks the 4th month of me trying to comply all the things I need to finish. I started this year hustling so hard starting with my missing grades and pushing myself to get all of those grades and put it to my account so I can get a full copy of all of my grades.
From January to February, I spent the whole two months settling my grades and it was not that easy as most of my Instructors were not available in the school or not available anymore. I spent so much time, money and effort just to find all of my Instructors and everything was great as I settled mostly every grades that I needed, especially the major ones.
Grade Evaluation For OJTs.
Our evaluation of grade was scheduled on the last week of March, but since there is only one Instructor that was organized to evaluate the grades of almost 1,000 BSBA OJT applicants, it was extended and just this day I tried to ask the Evaluator about my missing one grade.
I was glad to see that there are no other students and our Evaluator was not busy at that time so I came to her and we talk about my concern. I told her that I still have one missing grade in my account but it was only a minor subject, I told her too that I already told our OJT coordinator about my concern and he approved it. However, our Evaluator didn't approved it. She told me that even if it was just a minor subject, it is still a pre-requisite for my OJT application. She then just told me to get the grade first, make a completion form and present her the COG or certificate of grade. I kindly said yes and just thank her about it. Since I can't evaluate my grade, I then ask my Instructor about the missing grade.
Settling My P.E Grade with... USB?
It's been almost a month now that I have been waiting for my P.E instructor to give me the special exam or project so I can finish it and get my grade. Every time I messaged on messenger, she will just tell me to meet her in her office but every I meet her she will just tell me that is still so busy and just message her of messenger. I don't really know what to do because she is so busy and I don't know how to adjust.
Luckily, just this morning, I unexpectedly saw her in school. I don't really plan on asking her again about the grade but still I tried my luck and asked her. She gave me a minute and she asked me what was my concern again and what was the problem. I explained to her about my concern and after talking and explaining for just about 2 minutes, she gave me a deal.
Since she is a very busy person and I needed the grade for my OJT application, she told me that if I can just buy her a new flash drive, but not an expensive one, she will just give me a grade and we are done. And since it was like a good deal and I won't bother making an special exam, I accepted the offer and will eventually give her the flash drive tomorrow and at the same time get my grade.
Checking Requirements.
Aside from evaluation and my missing grade, I realized that I am still lacking one important requirement and that was my PSA Live Birth. I almost forgot that it has been more than 2 weeks since I pay to get it and it's time to get my live birth. But there was a problem that emerged.
I realized that my surname in the live birth was not the surname I've been using. It was my mother's maiden surname that was on my live birth and I ask the one in the PSA office in charge about it. It turns out that the system in their office was not updated.
The system read that when I was registered, my parents were not married at that time. My parents were already married and I realized it will be a problem. So the office man advised me to tell my University that I will just follow up about it and I must really follow up on this as this could lead to a bigger problem.
Final Words.
Being a graduating student is really exhausting. I've been trying to accomplish this for 4 months now. Of course, everything was not my fault as our OJT coordinator is very slow on making announcements for the things needed. But we will eventually get through this and we will be deployed anytime soon.
How You As A Trader Will Lost Money In Trading: The 3 Reasons.
It's been a beaten trading advice for a very long time but it is still the most important and basic things to learn about trading any assets - always do your research and manage your risk.
Focusing on cryptocurrencies, trading this kind of assets will always be risky especially when doing leverage trading. Making your own research will also mean building your strategy on how to perform your trade with minimal risks. Like everyone said,
**Plan your trade. Trade your plan.**
Excluding the DYOR and risk management advice, this article is compiled with 3 of the main reasons why traders are tend to lose their trades and lose their money from it.
Trading With Emotions.
Planning your trade and executing your plan is a must and one of the good strategies when trading. However, since the crypto market is very volatile and very unpredictable, our emotions can have an impact on our trades.
No matter how great your T.As (technical analysis) is, and a sudden dump in the chart happens, a high chance could be that you can lose your focus. Your emotions might take over your strategy and feel pressured of losing money just because your T.As didn't work after you saw a huge drop in price of the coin or token you are trading. Traders will feel hopium or take gamble of letting your trades go, or not cutting losses since you are now in huge losses and cutting it will be hard to take back your money.
Always believe in your strategy and set your trades according to your comfort.
Not Utilizing Stop Loss or No Stop Loss At All.
The most important thing about using a stop loss is preventing your position/trade or your account from liquidations. Using stop loss can be your safe haven knowing that your trades are at a minimal risk and you can take the small losses when your stop loss is hit.
If you don't put a stop loss in your position, your trade and entire account (if the position was crossed margin) can get vanished in an instant if a sudden nose-diving happens. You should use this method for every trades you are taking or whenever you have a winning trade but still want to have an unrealized profits and see how much you can still get from it, you can use a trailing stop loss - a stop loss set in a winning trades with, or stop loss in a profit.
Jumping In A Trade Because Of FOMO.
This is not really a bad strategy if you are FOMOing into a trade that is fundamentally and technically strong. But this act is not recommended to newbie traders.
There's a chance that jumping into this kind of trade can get you a little profit especially if the hype is real around it, but the chance of getting wrecked is more likely.
People are tend to being afraid of losing a possible gain that's why they do a reckless move and taking the risk of fear of missing out.
Personally, I started in trading doing this FOMO trading. And I can personally say that this is a very risky play especially when you don't really know what you are doing and what you are getting into. Fomo trading is only good for a very short time, holding it for a very long time is not ideal and very much likely tend to lose that trade as people will slowly make the chart go back down after a good fundamentals, or even in technicals.
Conclusion.
No matter how great your technical analysis is and how you are confident with your strategy, the market will always prove to you that no strategy is perfect because it is very unpredictable. You can only use risk management in order to minimize the risk of losing money in your trades.
Lead Image: *Pixabay.* https://pixabay.com/link/?ua=cd3%3Dimage%26cd7%3Den%253Alosing%2Bcryptocurrency%2Btrading%253APHL%26ec%3Dapi_ad%26ea%3Dnavigate%26el%3Dgetty%26tid%3DUA-20223345-1%26dr%3Dhttps%253A%252F%252Fpixabay.com%252F&next=https%3A%2F%2Fwww.istockphoto.com%2Fphoto%2Fstressed-businessman-feeling-desperate-on-crisis-stock-market-investment-concept-gm1300236859-392625805%3Futm_source%3Dpixabay%26utm_medium%3Daffiliate%26utm_campaign%3DSRP_image_sponsored%26utm_content%3Dhttp%253A%252F%252Fpixabay.com%252Fimages%252Fsearch%252Flosing%252520cryptocurrency%252520trading%252F%26utm_term%3Dlosing%2Bcryptocurrency%2Btrading&hash=cdeb446a605c6f7fd83212c279141c9455be90c2&=
*End*.
Bitcoin Cash Will Eventually Get Past Bitcoin And Its All-time High.
Telling the world how fast, cheap and decentralized (without the need of a third-party system to make a transactions) Bitcoin Cash BCH is will always be a golden argument any Bitcoin BTC maxis can't take.
BTC maximalist will always ignore the real fundamentals that Bitcoin Cash BCH can offer and will just stick with Bitcoin BTC just because it was the "**first**". Time will just tell that those BTC maxis will eventually realize that they were wrong with BTC and will eventually realized that the BTC they know is not the BTC they once knew.
Bitcoin BTC lost its sole purpose of being a peer-to-peer digital payment and being decentralized but rather considered as a store-of-value being named as the digital gold and being offered to world to use it with the help of the centralized Lightning Network.
Bitcoin Cash BCH To Dethrone Bitcoin BTC.
The current market and the crypto space is full of hype from BTC maxis that Bitcoin BTC will reached $100k, $200k and even predicting that it will eventually reach $1 million in the next decade.
This is very unlikely to happen and very impossible for a certain asset that loses its original fundamentals (from Nakamoto's whitepaper) and no solid real world use cases.
People were hyped with Bitcoin BTC when institutions are considering or adding Bitcoin BTC in their company's portfolio but not really understanding enough that adding the asset was just a pure risky investment and does not have much intentions to use it (peer-to-peer payment).
*Original Image* *Source*. https://www.google.com/search?q=Meme%20blank%20punch&tbm=isch&tbs=rimg:CfqoYD9qYBXIYdeQXqWSC8CssgIMCgIIABAAOgQIABAA&prmd=isnv&hl=en&sa=X&ved=0CBMQuIIBahcKEwjwhLzU8vT2AhUAAAAAHQAAAAAQBg&biw=424&bih=715#imgrc=lF2gMbezszYx6M
BTC and BCH as Legal Tender - Who Will Succeed?
El Salvador was the very first country to accept Bitcoin BTC as the country's new medium of payment. But the country accepting this asset made a lot of flaws that even redirecting Bitcoin BTC into something it was not meant.
El Salvador uses a centralized wallet called Chivo where people can make a transactions of BTC fast and cheap using the Lightning Network. That alone was big enough to say that decentralization is not present in the country - Bitcoin should be decentralized! No third-parties and anyone meddling with your asset.
On the other hand, one island in the Caribbean is now exploring legislations to make Bitcoin Cash BCH as the island's legal tender. Okay I exaggerated, it was only a man.
Rolando Brison, a Parliament member in Sint Maarten received its salary in a form of Bitcoin Cash BCH. He reached a proposal to the Prime Minister of the country to seek legislations to make Bitcoin Cash as a legal tender in the country.
Unlike the President in El Salvador, Rolando Brison doesn't see any reasons to use any centralize applications for the people in the island to use Bitcoin Cash BCH.
Bitcoin BTC requires high fees to make a transactions - BCH does not! Even cheaper compared to Lightning Network.
Bitcoin BTC takes a long time to make a transaction successful - BCH only takes a millisecond to get it through.
El Salvador having a centralized system for its people to use Bitcoin BTC is a nightmare for the country.
Bitcoin Cash Will Set A New All-time High.
For three years of its existence, we still haven't seen Bitcoin Cash BCH at a 5-digit value. The last time we saw Bitcoin Cash BCH to be over $1,000 in price was almost a year ago now. It was on May 1st in 2021, BCH reached a year high of $1,650 according to Binance Exchange' chart.
Undervalued? Sure it is.
Of all the cryptocurrencies in the top 20 in cryptocurrency ranking, Bitcoin Cash is the only one that is fundamentally-driven that haven't reached it deserving market value yet.
During its bull run on 2021, technically speaking, BCH still has a lot of room to grow in its chart. Everything was bullish for BCH, until the famous memer Elon Musk tweet negatively about Bitcoin BTC and it impacted so much in its chart. And since the price of BCH still correlates with BTC, BCH follows the price of BTC in its nose-diving. And since then the whole crypto market experienced and long time being in a downtrend, and so was BCH.
If those situation didn't happen, the price of BCH was obviously set to have more. We could even see BCH in an uncharted price that we still haven't seen for more than 4 years now.
Final Words.
Bitcoin Cash BCH was, and currently still, being bullied for being a fork of Bitcoin BTC. The Bitcoin Cash community uses the great fundamentals of Bitcoin Cash BCH as a response to those people.
Currently, the market is not buying yet how great Bitcoin Cash BCH is. But with the help of its community, the potential of DeFi and SmartBCH and the continuing adoption taking place all over the globe, time will come that Bitcoin Cash BCH will eventually receive its deserving valuation.
Big Problem Of NFT Gaming That Everyone Must Know.
We all know that this new trend that we are loving, the Play-To-Earn gaming, still has a lot of flaws and problems. Maybe because we are still on the experimental and early stage of development of NFT gaming, but one thing is for sure, those problems are just temporary just like the other innovations and technologies that failed but with continues development, those innovations eventually got their success as they improve along the way.
NFT gaming is not just all about entertainment because it gives even average players to earn while playing the game. With traditional gaming, players invested their own money and time just to enjoy the game without nothing in return. But with NFT gaming, players has the opportunity to get a return of their investments in the game. NFT gaming is a new type of digital economy that allows us (players) to earn by playing games while traditional gaming, only the game itself or its company are the ones that can profit.
Way back before this trend, the sole purpose of playing traditional games is for entertainment only and to pass time. But with NFT gaming, our purpose will be changed as we can now enjoy playing the game while earning from it, which most traditional gaming company doesn't like. Gamers will add a new purpose of playing the game, for entertainment and money through NFT games. But with this new innovation, especially that we are still in the early stage, we are still experiencing problems that temporarily we can't still find a solution. And one big problem of every NFT games is inflation.
*Image from* *Play-To-Earn.online* https://www.playtoearn.online/wp-content/uploads/2021/05/big-time-studios-blockchain-game-action-rpg.png
Inflation Destroys Economy.
Inflation is one, if not the biggest, of the biggest problems right now in Play-To-Earn gaming that still currently no NFT gaming projects has found a solution yet.
Everytime players play the game, it will be rewarded with a token depending how it met the requirements from the smart contracts. If the players met the requirements, the smart contract will mint new tokens in the game to reward the players. This idea of minting process was inherited from the idea of cryptocurrencies that rewards everyone who participates in the network like mining, staking and farming.
Proof-of-work and proof-of-staking are two of the famous algorithms that people used to participate in the network and in returns get rewarded with a coin or tokens. But newest trend right now is GameFi where we can get or mint tokens in the game by playing NFT games.
The difference of Play-to-earn gaming with mining and staking is that mining cryptocurrencies and staking are very complicated and requires a lot of electricity and money. People can only get a limited amount of coins or tokens per block so minting new coins or token is a problem. But with NFT gaming, things are different.
The more players in the game, the more tokens that can or will be minted. And this is how inflation takes place. The problem will be much worse if the supply of the token is infinite. With the law of supply and demand, if the supply of the token is higher compared to its demands in the game, its price will eventually go down and lost its market value. Two good example of NFT games that has this problem right now is the famous Axie Infinity NFT game and Pegaxy NFT game and their $SLP and $VIS token.
If this problem occurs in the game, whether the game has a very good graphics and very entertaining, if the supply of token is much greater compared to its demands, inflation will always take place.
Final Words.
Like I said, this inflation problem is just temporary. We are still on the early stage of NFT gaming and we need to give NFT projects more time to evolve, improve and solve the current problems of NFT gaming. We should understand that developing this new kind of innovation takes more time for perfection.
Bitcoin Cash To Past 2021's High: Can We Now See BCH Over $2,000?
It has been almost a year by now when Bitcoin Cash almost reached $2,000 mark during its bull run on April 2021. Bitcoin Cash was almost like unstoppable at that time that it looks like it only needed a little more time to sit at $2,000 price after it reached $1,700. However, the bull market reached the 2021 peak and most cryptocurrencies were slowly losing its value as the trend was going down, and of course Bitcoin Cash was not an exception and the anticipated price of $2,000 for Bitcoin Cash was halted.
After its peak on 2021, Bitcoin Cash was slowly losing more of its value that it even went below $300 and got out in the top 10 in the total cryptocurrency ranking. However, even though Bitcoin Cash experienced once again a huge drop, its adoption still continues to expand around the globe and nothing can stop it to be accessible and accepted by the world.
Will $2,000 Be Possible In 2022?
With the current price of Bitcoin Cash of just over $380, seeking the price of $2,000 still seems blurry and reaching that price can't easily be at one go. Like in 2020 where Bitcoin Cash was just around $300 in the 4th quarter and it took just almost 6 months to reach its high on 2021, there is still no assurance that Bitcoin Cash will perform the same.
Using my own technical analysis, on its Daily Timeframe, Bitcoin Cash has a pending breakout on its resistance at $404. Breaking this huge resistance will give chance for Bitcoin Cash to reach $485 in the coming days or weeks. If the market won't turn against it, 1 month is already too far for it to break the $404 resistance and test the $485 resistance.
On its weekly timeframe, the biggest resistance for Bitcoin Cash is $790 where it was strong rejected on the 3rd quarter of 2021. This rejection served as a critical resistance for Bitcoin Cash to decide if Bitcoin Cash will be strong enough to go back above $1,000. And if Bitcoin Cash managed to break all of those resistances, the demands for Bitcoin Cash will be even greater than during its run on April 2021. The last resistance of Bitcoin Cash, which is $1,700 won't be a hard a resistance to break since it was already anticipated in the past and once that happens, $2,000 will easily be achieve and Bitcoin Cash will likely to slow down for a bit to create an accumulation phase for another run.
Bitcoin Cash as Legal Tender?
One reason why I'm so bullish with Bitcoin Cash for this year was because of the recent news that one country wants to make Bitcoin Cash as a legal tender.
A huge personality in St. Maarten, Rolando Brison plans on a accepting Bitcoin Cash BCH to paid as his salary. He also started exploring all the legislations available for the country to make Bitcoin Cash as their legal tender.
Bitcoin.com article. https://news.bitcoin.com/member-of-st-maartens-parliament-plans-to-have-his-entire-salary-paid-in-bitcoin-cash/
BCH Price Correlates With BTC.
If you don't know this, most cryptocurrencies in the space correlates with Bitcoin BTC in terms of its price. This is a sad fact but whatever Bitcoin BTC is facing, no matter how good or bad it is, other coins will surely receive an impact from it through prices.
As of this moment, Bitcoin BTC is gaining momentum and just a thousand dollars away to once again reached its $50,000 price. It looks like bulls were in control and with no assurance, a revisiting an all-time high is likely possible.
The price movement of Bitcoin BTC has also impacted the price of Bitcoin Cash BCH. Lots of positivity in the market and Bitcoin Cash is reacting to it and slowly making a move regain its past value.
As a trader, I believe in this crypto movement of how money flows in cryptocurrency;
Bitcoin BTC
Large Caps
Micro caps
Low caps
Bitcoin Cash is a large cap cryptocurrency and whenever Bitcoin finishes its run, traders will most likely find a good alternative kind of money which is fundamentally great but undervalued. Bitcoin Cash is great candidate, and as a large cap, surely huge money will flow into Bitcoin Cash and in no time Bitcoin Cash will be seen at a good valuation once again.
Conclusion.
It's only a matter of time, but Bitcoin Cash will eventually regain its 4 digit price once again. The first quarter of 2022 shows a sign at a bull market is ahead of us and all we needed to do is to accumulate the coin we love and hodl it till then if you want.
@Mr.Valentine
