Global Adoption of Bitcoin Cash Is Happening Right Now!
As the CNBC-TV18 network explains, "Bitcoin Cash is an evolution of Bitcoin".
Merchant adoption of Bitcoin moved backward as Blockstream and Core devs executed a corporate takeover of the Bitcoin brand in 2015.
Eventually, in 2017, hundreds of businesses removed Bitcoin from their list of accepted payment methods, including Microsoft and Steam, as fees reached higher than $50, and unconfirmed transactions remained in the mempool for weeks.
Bitcoin Cash upgraded Bitcoin to solve the high fees and scalability issues.
Right from the beginning, the community proceeded with reigniting merchant adoption of Bitcoin Cash, a P2P network for payments exactly as Satoshi intended.
Global adoption of P2P Electronic Cash seems to be closer than ever.
Bitcoin Cash Global Adoption
(Twitter)
Should we accept the arguments of the bankers, the ex-Goldman Sachs execs, and the BTCUSD traders, or perhaps we proceed with the fundamental reasons Bitcoin was designed to accomplish?
Bitcoin aims for mass adoption since its inception. The comment on the Tweet by Gabor Gurbacs and planB is false and influenced by the narrative that Bitcoin can't scale and can't become a currency. The Bitcoin upgrade of 2017 (Bitcoin Cash) proven wrong Core devs, Blockstream, and traders promoting flawed and deceptive narratives.
Bitcoin is a P2P Electronic Cash system of payments proposing a payments revolution in commerce (for online or physical stores).
(source: bitcoin.com Satoshi archive, thanks to XolosRamirez)
Satoshi envisioned P2P electronic cash adoption and smart systems as well. The "dynamic smart money" was the next step for Bitcoin Cash, both with sidechains (smartBCH) and on-chain developments enabling smart contracts.
Bitcoin Cash delivered much-desired scalability and expanded the global network of merchant acceptance.
Bitcoin Cash increased its block size following the directions of its founder.
10938 Businesses Accept Bitcoin Cash
A practical tool at our disposal is the map at bitcoin.com presenting the merchant acceptance of Bitcoin Cash.
Multiple Bitcoin Cash initiatives around the globe are educating businesses and consumers on the voluntary adoption of Bitcoin Cash.
The map of global acceptance of Bitcoin Cash at map.bitcoin.com explains how far this cryptocurrency has grown and what type of currency consumers and businesses prefer to use.
Bitcoin Cash offers virtually free transactions at an insignificant cost. Nobody cares for fees with Bitcoin Cash since they are practically zero.
Speed of transactions is also instant with previous restrictions in the Bitcoin code removed (RBF) and block size increased to 32MB, so Bitcoin Cash will be able to host the expected global adoption.
Bitcoin Cash Network Features & Availability
Secure
Decentralized
Extremely fast
Feeless
Bitcoin cash is digital cash for the world with the required capacity to reach global adoption.
Moreover, Bitcoin Cash sustains all the Bitcoin scarcity properties:
A fixed limit of 21 million BCH
A halving mechanism (roughly every four years) that reduces selling pressure (supply) by the miners, supporting the price (even with a stable demand)
Ease of access for everyone (compared to investing in stocks/gold/commodities)
Retail investors can purchase Bitcoin Cash using every major cryptocurrency exchange (Coinbase, Binance, Kraken, Gemini, FTX), trading apps such as Robinhood, mobile wallets such as Bitcoin.com, or the tokenized version of Bitcoin Cash on smartBCH (DeFi), using Metamask.
Bitcoin Cash is available for institutional and accredited investors through traditional financial options such as:
-Grayscale (BCHG)
-JPMorgan Chase & Co. (USA)
-SBI Holdings (Japan)
-21Shares (EU)
-Interactive Brokers (currently only in USA)
-Bancolombia (Colombia)
-US Bank (US)
Bitcoin Cash is also supported by major payment processors:
Governments Will Be "Forced" to Adopt Bitcoin Cash
The acceptance of Bitcoin Cash has no trace of government interference or compulsory legislation to accept cryptocurrency payments.
Unlike the authoritarian adoption of the Lightning Network in El Salvador, Bitcoin Cash stands for voluntary adoption by businesses, professionals, and network users.
Forced adoption will meet the opposition of the Bitcoin Cash community of users.
The adoption of Bitcoin Cash forces governments to recognize it and adopt it as a payment method.
(Twitter)
Bitcoin Cash adoption in the region of the Caribbean forced St. Maartens MP and party-leader of the United People's Party Rolando Brison to personally recognize Bitcoin Cash and proceed with exploring legislation to adopt Bitcoin Cash nationwide.
Bitcoin Cash is the Future Of Commerce
Watch this medical expert and entrepreneur explaining the importance of Bitcoin Cash and the reasons she adopted this payment option for her business:
YouTube channel: Bitcoin Cash City daily presents Australian merchants accepting Bitcoin Cash as payment method.
"There are no fees involved, and it's a way to keep money in our pocket, rather than the fiat money that's losing value because of the printing every day."
The menace of inflation forces everyone to look for a better way.
Bitcoin Cash may be volatile as an asset, but at least its price fluctuates to the upside often, while fiat currencies are only devaluating.
Bitcoin Cash Inelastic Supply and Rising Demand
As demand for Bitcoin Cash grows, the price will also increase drastically.
Price will keep growing following adoption until BCH covers the need for an alternative to fiat currency for a significant percentage of the global population. At that point, the price will reach equilibrium.
The decisive factor is demand. The increase of userbase can be either on blockchain with actual users, or with investors (or speculators) as in the case of BTC.
Probably the best approach will be achieved when both users and investors increase.
In Conclusion
(image)
Most cryptocurrency investors have a superficial relationship with crypto, mainly using custodial, KYC-enforced regulated wallets and centralized exchanges.
Many investors can't process the difference between custodial and non-custodial wallets and understand the real value of crypto without testing the actual use case.
Crypto "owners" (investors) rarely use cryptocurrencies even with custodial wallets.
The significance of crypto is to spend or send to anyone without asking for permission from a third party.
The custodial methods to spend or accept crypto are no different from the banking system.
Bitcoin was created to cancel third parties and escape the misery of the banking sector. Cryptocurrencies offer a unique system of payments, competitive with the legacy financial system.
Bitcoin Cash focuses on global adoption as a P2P Electronic Cash method of payments.
Images
Lead Image: by Prawny on Pixabay (modified)
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Bitcoin Cash is one coin that will win one's heart if patiently studied, it doesn't force you to believe in it like another coin because its potentials are way too much to be overlooked.
The adoption is indeed growing globally and this has proven the acceptance of BCH by the people. This is just the beginning, I forsee the sun changing the green someday for Bitcoin Cash.