@Pantera
edited
The REAL Value In Cryptocurrency
Besides the angry keyboard mob of Bitcoin maximalists, everyone else would be excited to see Ethereum or any other coin overthrowing Bitcoin (BTC) from the top of the market cap indexes. Ethereum delivers immense value in the digital economy with a spring of financial innovation. Networks like Monero, ZCash, XRP and Bitcoin Cash are crypto economies aiming to reshape finance, payments, and commerce. The pioneers of our age are building financial functionality right before the rise of the digital/virtual economy, and the next layer of the internet, the Metaverse. Certainly, the crypto-industry is still crude and full of vulnerabilities, unregulated and often illiquid, with most of the new cash flowing into the pockets of the CEOs of top exchanges. The speculation surrounding crypto directs decisions, but the use case of cryptocurrencies expands further than mere speculation, presenting signs of a rising economy.
Ethereum Ethereum is focused on decentralizing banking procedures and redefining finance. However, the Ethereum devs still haven’t solved the obvious scalability issues infesting the network, and the questionable move to Proof-Of-Stake could present centralization issues. PoS has proven to be a weak alternative to Proof Of Work so far, and the outcome for Ethereum is not guaranteed. Smart Contracts reconstruct lending, and banks test this technology thoroughly since it offers a system of instant liquidation of collaterals. We shouldn't be surprised if banks begin using Ethereum smart contracts and decentralized finance in this approach, although that would require regulatory clarity. Regarding the hundreds of Ethereum clones, we find a few that stand out. However, most fail to convince on the decentralization of their network. Certainly, every network can paint itself as decentralized but most lack this feature.
Payment Coins On the other hand, we got decentralized cryptocurrencies with money features but only a few of them seem to have decent odds to be used as such. Bitcoin Cash, Monero, Litecoin, ZCash, XRP are some of the coins that have proven they worth a lot more than Bitcoin (BTC) in the payments sector. However, regarding Litecoin, it seems its sole purpose is to act as a BTC testnet. All decisions are dictated by one person, Charlie Lee, the creator of Litecoin who dumped his coins in the beginning of 2018 capitalizing on his creation and leaving everyone wondering if Litecoin was just a scam. Litecoin has done just the bare minimum in its ten years of existance to support P2P electronic cash adoption. Monero and ZCash are serious privacy coins with a vast application. Especially Monero that seems to dominate in ToR related black markets. However, privacy coins already face regulation concerns as quite a few juristictions have banned their use, minimizing their application in physical stores and e-commerce. The issue here is only Bitcoin Cash is pushing merchant adoption.
The Bitcoin Cash community is producing quality platforms like flipstarter, read.cash , noise.cash (noise.app), and memo.cash.
In Conclusion Millions of conflicting messages flood the internet regarding cryptocurrencies making newcomers feel puzzled about what is real and what's not. And many investors fall prey to greedy sharks that don't care for the technology or the implications P2P digital cash can bring in commerce. The traditional payments sector with bank cards is complex and contains multiple third-party processors intermediating between a bank and a merchant. Tens of thousands of businesses operate on top of the POS (Point-of-sale) network and e-commerce using Visa/ Mastercard / AMEX infrastructure. All these entities are adding cost in the process of money, perplexing the transactional system and becoming a burden to finance and e-commerce. Bitcoin solved everything by removing intermediaries, but Bitcoin Core, the devs that promoted Blockstream's agenda, hijacked the network and promoted stagnation instead of scaling. Years later, the brand name Bitcoin remains, not as an financial revolution, but only as a speculative instrument and a get-rich-quick scheme. The truth is suppressed in the chaotic age of misinformation, but those seeking it, discover it sooner or later: https://www.youtube.com/watch?v=dXR_OPsHhzs
*Cover picture on* *Pixabay* https://pixabay.com/illustrations/technology-city-glowing-business-6701504/ **Also Read:** ***The Truth BTC Maximalists Don't Talk About*** https://read.cash/@Pantera/the-truth-btc-maximalists-dont-talk-about-806ec21b **Posting on:** *●* ***read.cash*** *●* ***noise.cash*** *●* *noise.app* *●* ***Medium*** *●* ***Hive*** *●* ***Steemit*** *●****Vocal*** *●* ***Minds*** *●* *Publish0x* *●* ***Twitter*** *●* *Reddit* https://read.cash/@Pantera https://noise.cash/u/Pantera99 https://noise.app/Pantera https://medium.com/@panterabch https://hive.blog/@pantera1 https://steemit.com/@pantera1 https://vocal.media/authors/pantera https://www.minds.com/pantera99/ https://www.publish0x.com/@Pantera1 https://twitter.com/Panterabch https://www.reddit.com/user/Pantera_BCH
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7 comments
It is really sad there are lot of coins with fake roadmap and projects in the market that are decreasing the value of cryptocurrency. I hope real purpose of crypto will be fulfilled by banning all the other fake coins.
Financial freedom, or expect a digital and economic war. That's my input.
Really it's hard to determine for the newbie that which coins is better to choose for crypto trading. Bitcoin Cash is indeed worthy currency compared to others.
Friend, what's up? Hope all is well. We haven't heard from you in a while.
Hi sir, sorry if I contacted you here and commented not on the topic. But I want to ask if your noise.app is also developing it, if so I ask for bug fixes for writing problems. Before, I wrote with the keyboard to translate Indonesian into English, but now I have trouble writing there. That's because every time I write in Indonesian, I can't directly change it to English because I just finished one word. So I can't finish my writing in one go, and this just happened, please respond sir, I'm sure many Indonesians also use translation to change the language Indonesian to Inggris.🥺🙏
I still think, or tend to believe, that the strongest possibility of any real use-case adoption rests on the shoulders of BCH. It, to me, just seems to be the more viable option among any others I have seen so far. But I also think ALL adoption suffers from the volatility of crypto itself. It is hard for someone to accept it, interested in maintaining a bottom line, if what they accept 5-10 minutes or an hour later does not have the same value as when it was accepted. A receiver cannot afford to accept what becomes $30 for $50 worth of groceries anymore than an end user can afford to pay potentisally $20 more for HIS purchases. Or to have his paycheck diminished if the price goes down in a week and then there are bills to pay. Granted, it can work both ways. In some cases the end user might get cheaper groceries and the vendor might get more than he needed for them. But it is still too volatile and unstable a situation for most people to accept on either end that the value of their "money" is not fairly the same most of the time. And how does a big player like Amazon or Walmart account for profits or losses—which all have tax and other implications. It also seems like a TON of extra work on all ends to figure out those losses and profits due to accepting a volatile currency. The bottom line is that $1 must equal $1 on both sides of the transaction in order for it to be a stable and workable and effective transaction for all parties involved. If crypto cannot solve this, I don't see mass adoption as something that truly works ultimately. Any ideas on how we CAN solve this?
There are options for merchants to either liquidate the BCH they receive in their foreign exchange. If they want dollars they can sell for dollars, that's a given. Apps exist that allow the merchant to select if they want to keep the cryptocurrencies they receive or to receive fiat currency instead. GoCrypto has done a lot for adoption and supported Bitcoin Cash adoption. Moreover, General Protocols has developed Anyhedge, which supports a merchant to hedge BCH and protect the merchant against volatility. Here are some useful links with more information: https://gocrypto.com/crypto https://anyhedge.com/businesses/