2022 The Year of Bitcoin Cash
I wish everyone (again) a Happy New Year, with joy and success.
Yesterday (New Year's Eve) I woke up to a pleasant surprise, as Club1BCH awarded me with the best BCH content creator for the 2021 award!
Thank you so much, for the award and acceptance in Club1BCH.
It was the best moment I've had in all of 2021 so I have to sincerely thank everyone from Club1BCH.
I've said a few days ago to @PVMihalache that we are all going to make it, because I feel many lately begin to understand that cryptocurrency is not a way to earn money online, but instead offer a way out of the corrupt and flawed financial system and an entry point to a better alternative.
The current system is based on debt, inflation, and financial control. This system works, but only until it suddenly stops working. I've been in crypto for this reason exactly and sadly not since I've first found Bitcoin but way later.
2022: The Year of the Tiger (in the Chinese Zodiac)
I love watching the price of Bitcoin Cash rising as it gives us hope we are on a good course. I still don't get discouraged when the price drops but hate it when it happens. This is all temporary, though, and in the long run, chances are in favor of better prices, meaning our BCH will have a better purchasing power.
It is definitive, though, that our fiat won’t.
It is difficult for many that struggle financially to hold their BCH, and everybody understands that. Some strive to survive with the money they earn online. However, some don’t need to sell their BCH to fiat, but will do this anyway, thinking they profit with this approach.
You don’t profit. You lose money by simply selling Bitcoin Cash to any fiat currency.
Every family needs emergency funds, and while some will keep a few gold coins hidden from plain sight, most families will prefer having an emergency account at a bank.
Yet, this account each year loses money. The banks offer 0% interest, still even if they offered any interest that wouldn’t be enough to cover the current inflation levels. Prices, at least in Europe are between 25-50% higher than last year. This alone points to the fact that the money in your bank has lost at least 25% of its value in just one year.
Of course, the official inflation is way less, about 5-6%, yet, for the consuming habits of the 95% of the population in Europe, the prices have risen exponentially. The Christmas table is representative of the personal adjusted inflation and in every part of the world, it was a lot higher than the official inflation statistics explain (source, source2, source3).
The trust the financial system requires today is simply too much to ask for, and inflation is devouring any savings we have.
The long-term viability of an economy is not based on politics, yet money is at the hands of a government.
Inflation is reducing our purchasing power, and the increased taxation would be a burden difficult to escape after the excess spending of our governments.
I am seriously vouching for crypto and always explaining our options. After these five years, I concluded that some cryptocurrencies have better odds since they are working exactly how I imagined them when I first started in 2017.
The Lightning Network is an insufficient attempt to revive the payment features BTC has long abandoned. The centralization tendencies are inherently represented within this network and only re-create the traditional banking payment networks, although, with an even more complex approach and even less efficient than it already is.
LN meets rejection in El Salvador and its supposedly increasing network effect is nothing more than a few million airdrop hunters.
Don't just "hodl" but Invest In Bitcoin Cash and Use BCH
I will soon close 10 months as a member of read.cash and about five years in cryptocurrencies in general. My investments today are projects I have found to be working with conviction towards a certain goal.
I hold 10BCH today on (non-custodial) wallets, and a few more in smartBCH. I plan to keep increasing this number for a long time and use BCH any time possible for payments (although I have to admit this part is still difficult).
I am considering moving another 5BCH into smartBCH since the opportunities are there and feeling that I'm missing out after skipping this option for the last month.
This is my BCH outside of smartBCH with the recent addition of read.cash and noise.cash BCH rewards from December. I felt bad for withdrawing from read.cash, but trust me this is not going anywhere else except perhaps smartBCH.
I don't plan to sell anything for fiat but will keep accumulating for the long run. Fiat is even less attractive today than ever before (highest inflation in two decades).
I have no idea where the BCH price will go in 2022.
For the long term (meaning more than 2 years), I predict Bitcoin Cash will rise, and I can see the Bitcoin Cash price revisiting the 2021 high of $1500. If I sell at a certain price, then it could be an unforgivable mistake when the price starts shooting up. So, I plan to just keep accumulating and only sell a few BCH if some kind of ridiculous price action happens.
Don't forget one thing. Bitcoin Cash also has a halving every four years. The next one is in 2024, almost two years from now (estimated around March 2024). With demand stable, the supply (selling pressure by miners) reduces by half, and this sends prices higher. With the current BCH price and demand increasing, I actually would find it odd to see the price of BCH not rise significantly within these two years.
In Conclusion: We are All Going To Make It (Just Be Patient)
When it comes to evaluating NFTs this is a difficult task. Liquidating in BCH (selling the NFTs) may take a long time. Especially if its rarity (and price) is relatively higher than the rest since the right buyer should find a bargain price that would have the potential for profit for the buyer as well. I hold about 5BCH right now in NFTs, and this is the lowest valuation, at prices that could be met easier, after a few days. With floor prices, this is perhaps double.
I calculate rare NFTs by cutting down the floor price a lot and examining the previous sales to have a better idea.
My target for 2022 is rather ambitious (100BCH) but with the correct approach to smartBCH investments and moderate risk, it could happen within 2022.
2022 could be the year of Bitcoin Cash, and a decisive factor in this is the smartBCH sidechain.
Tomorrow I'm publishing the December report, stay tuned!
Images:
Lead Image: Club1BCH
New article on BCH101.com: OASIS - The First NFT Marketplace on smartBCH
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Happ New year