Two Suggestions In Support Of Bitcoin Cash and the Two Platforms

If you fancy fiat money more than crypto, there is no need to read further.

Money is an illusion. We created this illusion and agreed upon the terms it would work. We equipped the government with the power to print and control money, yet, the government failed us time and again by excessively mishandling our money, printing more money without limitations, created high inflation, and handed the freshly printed money to friends, relatives, and nearest interests.

Cryptocurrencies are money too, but not controlled by anyone. Not a government and no trusted third parties control cryptocurrencies.

At least some of the cryptocurrencies are not controlled and constitute functional money.

And one of them is Bitcoin Cash. 

Bitcoin Cash is secure, decentralized, permissionless, and immutable. 

A Bitcoin Cash transaction can't be stopped by any government or trusted third party. No bank, government, or third party can confiscate our Bitcoin Cash.

Bitcoin Cash is better than other cryptocurrencies like BTC, Doge, and Ethereum.

While transactions with these networks demand high fees that signify the inability of these particular blockchains to scale, Bitcoin Cash transactions are virtually feeless and instant.

Yet, the price of Bitcoin Cash keeps dropping. It is suppressed, shorted beyond reason, and manipulated at low levels when compared to the top-20 in the crypto index.

Price Decline Of Bitcoin Cash

Multiple factors contribute to the Bitcoin Cash price decline, yet, the more thrifty we become, the less damage will be done to the price during the current bearish momentum.

Of course, at this point, Bitcoin Cash is at the mercy of the ferocious beast of Binance derivatives and Tether USDT, and involuntarily following the trajectory the BTC market tyrant sets.

BCH loses value not just because shorters exist or USDT is obligated to sustain BTC at the expense of other coins but from selling pressure too.

Furthermore, the price decline of BCH creates a problem for Marc, who contributes daily $1000 in read.cash and $4000 in noise.cash, in BCH terms.

He has to place more BCH now that the price is 50% lower than a few months ago and 80% down from one year ago. I have no idea how many BCH Marc holds, but he has announced massive losses in his investments lately (-80%).

We all love Marc for his character and contributions to read.cash, noise.cash, and Bitcoin Cash in general.

Still, I am confident we would all prefer to see the platforms sustained without being a burden for the main donator.

Moreover, the price of Bitcoin gets extra pressure when about 20BCH are sold daily for fiat since perhaps this is where all the BCH are moving.

How many do accumulate or use Bitcoin Cash on both these platforms? Probably no one.

Together with the BCH price reduction, the tips should follow in my opinion.

Perhaps a fixed BCH amount for both platforms (i.e. 5 or 10BCH daily), regardless of the USD price of BCH, would be better than the USD pegged amount.

Suggestions

I hope Marc and Simon (if they ever read this article) don't take these suggestions as necessary or invasive. I present my observations that can be taken into account or thrown in the dumpster.

Either way, I still have to write my honest thoughts on this matter, especially considering the alarming decline in BCH's price.

I find the price of Bitcoin Cash disturbing lately, and I am sure at least some of those that will read this article share the same sentiment.

Not a popular opinion (among those looking to earn money online), but I feel these two suggestions could improve the overall structure of read.cash, and noise.cash payment systems and produce loyal members of Bitcoin Cash instead of dumpers and fiat greedy individuals:

A. Allow withdrawals in steps.

An example is how the Hive platform operates. It doesn't allow immediate withdrawal of rewards but includes a certain process of powering down accounts and allowing withdrawals in steps.

Withdrawing occurs weekly, and it takes 13 weeks (~three months) to withdraw all the HIVE tokens from a Hive account. 

A complex process, but it could work since most read.cash, and noise.cash users sell everything immediately for fiat.

For practical reasons, it doesn’t help Bitcoin Cash if everyone is selling for fiat or BTC while stacking orange sats.

Users don't support BCH with this approach, and they barely try to use it. They just discovered in read.cash and noise.cash a way to earn fiat money. Some of them completely overlook Bitcoin Cash and fail to even mention it while writing these posts about how they make dollars or pesos online and buy items they always wanted. And yet, not even a mention on Bitcoin Cash. 

Everyone should be more appreciative than that, in my opinion.

The point is to use Bitcoin Cash, not sell for fiat money and use dollars or pesos. 

Of course, these users never realized or researched the purpose of cryptocurrencies, and perhaps the current system permits them not to care or try to examine crypto thoroughly.

B. Rewards (Tips) to be priced in Bitcoin (BCH)

A second recommendation (although this will also hurt my rewards as well is to spend less BCH as the price is low currently):

Pay the tips (of read.cash and noise.cash) in terms of a selected amount in BCH daily and not USD. Perhaps make it like 10BCH fixed daily for both platforms.

Marc daily tips users with $1,000 in read.cash and $4,000 in noise.cash.

As the price of BCH drops, he has to send more BCH than previously. At least as the price drops, I think it will be accepted by all to pay less in USD terms.

With a price of BCH at $500, Marc was giving away 10BCH daily on both platforms.

But with the price of BCH close to $250, Marc has to pay double this BCH.

20BCH daily is 600BCH monthly, and 7200BCH yearly. 

What happens if the price drops further? The historic low of BCH was less than $100, and we should prepare for anything. BCH can vary from $100 to $10,000 in the next three to four years.

A doomsday scenario for the short term would mean Marc will have to support the platforms with 20,000BCH yearly, instead perhaps of 4,000BCH with a BCH price of $500.

Of course, as the price was rising in 2021, Marc was paying less BCH, but this also allowed him to reward with huge tips (even with $3,000 and $10,000) for articles and noise posts he enjoyed reading.

But the price now declines so fast that I believe these two recommendations are necessary to help read.cash, Bitcoin Cash, and Marc also.

At least with this approach, we will keep less dumpers.

Meanwhile, since users will be forced not to dump their rewards immediately, this will create incentives for everyone to support the price of BCH. Something similar happened with Hive.

Some Hive users have hundreds of thousands of Hive coins, but dumping can't occur since timely withdrawals apply. Of course, the Hive token has a predominant use case in the Hive blogging platform, so this example has less significance for Bitcoin Cash.

Although, a substantial number of BCH blockchain transactions occur today by read.cash and noise.cash.

In Conclusion

Read.cash and noise.cash brought thousands of new users to Bitcoin Cash, but let's not pretend, most users receive more than they offer and never supported Bitcoin Cash. Some did, and even less held their BCH or tried to use them without selling for fiat money first.

Most users of these platforms sell everything, some for fiat money and some for BTC, Doge, and other meme coins. And they don't promote Bitcoin Cash or create value in a meaningful way. They never even supported Bitcoin Cash when it required this support.

Moreover, I've found plenty of them vigorously defending their dumping of Bitcoin Cash for fiat money, be it the inflating dollar, the peso, or the bolivar!

I write my monthly reports and keep my Bitcoin Cash in my wallet. BCH is also money for me, but better than the fiat money we still use.

Whenever possible, I use Bitcoin Cash and don't sell for fiat money.

Yet, some consider writing platforms as their job and will always remain at this level as they think this is an extra fiat money stream.

I presented the example of Hive that could produce members interested and supportive of Bitcoin Cash and the cause.

I don't know if it is easy to implement such a drastic change. Probably it will need a complete overhaul of the payments system. Still, the staking mechanism of Hive is what produced remarkable value and created loyal supporters of the Hive token.

As the price of Bitcoin Cash keeps dropping, there should be reactive methods to stabilize and reduce leaks to fiat.

Crypto > fiat is a mistake to make.

The route is fiat -> crypto. From fiat money to better money.

Somehow, the 2021 newcomers did not understand this yet. I guess it takes time to swallow the red pill.

• Cover Photo: by " Arto Marttinen" on Unsplash (modified)

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