Spend BCH or Invest BCH?

This post is #PoweredByMonolith

So, I have been using Bitcoin (Cash) since February 2020, the day the stock market dumped. I am able to actually start using Bitcoin back in November 2019 after being able to use an e-wallet called Coins.ph, but I really didn't have anything to do with it until I managed to use PayMaya for its Digital Mastercard since Coins.ph's Visa card was gone is going to be replaced. Beforehand, I was invested in mining Monero, and it was really not profitable at all.

Of course, it had its own problems, but something that I was worried about was when my father's mined 0.01 BTC was sent to me. I was reckless using Binance at that time, and I placed the rest of the money on my bank because it wasn't profitable HODLing in a developing country. I needed the money.

When I fully started to invest in BCH, I started to test it out. My major advancements were two separate €10 Steam Gift Cards using Keys4Coins. I managed to get enough since 1 LBC was $0.05 at those times and I had leftovers from my father's gift.

As I learn more about BCH and the Bitcoin community after the 2017 event (I had small activities in faucets at that time), I realized how bad it was as it also explained how bad money can truly corrupt people, because Blockstream had government/big banks backing.

I can't say the thing about their products. Would've worked better and they get more money if they had at least 2MB of mempool allocation. People are short-term thinkers, sadly.

Which brings me to my own question in the title. Spend BCH or Invest BCH?

It depends.

You see, BTC's mindset of being digital gold and store of value is good. Gold was known to be a known way to exchange materials. Its crippled technological advancement can show that you can invest, keep adding up BTC towards it. But by keeping it long-term is another thing, as its price is volatile. So far, it hasn't even gone for a bull run, raising its price from $9,000 to $10,000+.

The same can't be said with BCH, however. with only 20% of BTC's price, and its price following BTC, you can get $200 lows.

This brings into our dilemma. Blockstream's BTC edits and the global banks forced the world to treat Cryptocurrency as an asset. Should you keep BCH for long-term storage, or use it to spend, and replace it.

If you don't have a way to spend it, It's really best to keep it until your community has enough knowledge to create a closed economy, where you get paid, and you pay with BCH.

If you do have a way to spend it, well, it depends on how long you will wait for block confirmation. 0-conf is currently safe and you can stack 50 transactions, but who knows what Bitcoin ABC can bring.

But, one thing in both cases, you should have your coins in your own private keys. Don't trust wallets that require you to sign in to an account and call for a KYC (Know Your Customer) for full usage. Move money out of exchanges as soon as possible, set up multiple accounts, and get a paper wallet/hardware wallet.

It all depends on you.

Rowan, signing off.