Near to Dead (SmartBCH)

8th March 2022, Tuesday

In the beginning we were all very happy with SmartBCH. I've been with Bitcoin Cash since the beginning, but I didn't have much interest in other DeFi tokens created on other chains, not even much knowledge about other networks.

But ever since I heard that Bitcoin Cash is being integrated into the smart network, a special kind of insanity has started to work.

As a newcomer, you have to do months and months of research to learn about trading on different networks, to know about NFT, to buy and sell. Not much is known about such a token in one day. You have to spend a lot of time with the token to know about the performance of the token, roadmap, staking and other information. A decision can then be made as to whether or not to invest in the token.

Gaining enough knowledge about SmartBCH Defi is too late for me. As a result, it took me two-three months to enter SmartBCH Defi. Because in those two or three months I try to figure out which token would be best for me. When I started buying SmartBCH tokens, everyone on Twitter, including noise.cash, started saying that SmartBCH had just started and that there was still a long way to go. I thought everyone talked about polygamy maybe 10-20 or 50 years, but I didn't realize that "polyphony means 6-7 months". Then Smartbch will walk towards the end of its life.

Just look at CLY/USD pair. Of the SmartBCH tokens, only that $CLY token is called a complete token of Anti-dump technology. Initially, according to $CLY technicians, 75% $CLY has become a stakeholder, but in the middle of the year, $CLY has almost gone to its presale price. Those who have invested in $CLY tokens are now showing complete reluctance to buy and sell SmartBCH tokens.

Not only $CLY tokens, but also among the most trusted tokens on smartBCH you will be disappointed to see the prices of all the tokens that have DEX including $Fire/Ember, $Tango, $Mist, $EBEN $1BCH.

You can see the price of $Fire token, which is now below it's presale. Where thousands of people invested their small amount but those are eaten by whales. Haha.

Ahh, $Milk, the name of disappointing for me. I bought about $57 BCH worth milk token at $0.07 per milk. I thought maybe this would be the lowest price for a milk token, since the milk token had already dropped from $0.22 to $0.072 and had been stable for a long time. I thought let's buy some milk tokens and earn some milk tokens by keeping stake in cowswap dex, but the price of the token that I have earned in one month has decreased by almost five times. Which you can see in the graph above. The current price of Milk Token is $0.016, which is disappointing for me and for everyone who has invested in this project. Similarly, the prices of almost all tokens, including $Tango $EBEN, are below their presale.

But what is the reason for dropping price of each token?

The main reason for the price drop of each token is "NFTs".

If you launch any NFT on SmartBCH, there are at least 10,000 NFTs, and if each NFT is priced at 0.01 BCH, then 10,000 NFTs will be worth 100 BCH or $30,000. But sadly, the NFTs that are released have a value of at least 0.04 BCH each. That is, if the minting price is 0.04 BCH, then the miniting price of 1000 NFT will be $120k or 400 BCH. Isn't it normal if an NFT project draws an average of 200 BCH then there will be less money to invest for a while? Thus, if two or three NFT projects are rugged from the 700-800 BCH smartBCH chain, it is certain that the value of each token on top of the SmartBCH will be reduced as usual. One time it will be seen that all the tokens on SmartBCH will disappear to avoid their loss and SmartBCH chain will be dead.

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