We are also the cause of the fall of BCH

8th July 2022, Friday

One thing comes to mind when looking back at 2020. At that time the value of bitcoin was only 6 thousand USD and BitcoinCash was $220. So the ratio between bitcoin and bitcoincash was 1:27 that means bitcoincash was 27 times cheapest.

Now 1 Bitcoin equivalent $22,000 and the bitcoincash $105. So now the ratio of Bitcoin to Bitcoin Cash is 1:190. Can you believe it? Bitcoincash is now 190 times cheaper now compare to BTC.

Now if BTC is worth $ 20,000 then the value of every bitcoincash should be $ 740 according to the 2020 ratio. But what is the reason for this?

The main reason for this is that bitcoincash sales rate is higher than adoption. When sales are much higher than buying a product, a kind of syndicate is formed on that product. And that always goes in favor of traders. In this case, the amount of bitcoincash we needed to adopt has been much less than the adoption .. due to the inflation of bitcoincash.

If I look at the names of the top tippers here, then there is no therandomrewarder. The amount of tip that therandomrewarder has provided to bloggers on read.cash, noise.cash If you calculate all the money given in cash, about two to three million USD worth bitcoin cash. They have distributed this money among everyone as a blogging reward.

With such an old experience, I can say that we did not hold 1 to 2 percent of the 2-3 million equivalent bitcoincash distributed among us, but we sold them and turned them into fiat.

But the purpose of both platform was to spread the BitcoinCash awareness among public and spread the adoption of BCH.

You can increase the transaction of BCH, you can spreading BCH to the public. People will appreciate any amount they get from the blogging but one thing to remember. You can't increase the adoption in this way. Most of the people here earn BitcoinCash, convert to fiat and They spend that money to buy things they need.

So, The amount of money that we are converting from bitcoin cash to fiat every day, less people are converting from fiat to bitcoin cash. As a result of such inconsistencies, Bitcoin Cash is losing its value.

On the other hand, there is no platform where other coin such as, BNB, BTC, ETH coins are used as rewards. As a result these coins have been able to retain their value even as their value has increased further. The price of BNB was below that of Bitcoin Cash. If you look at its ratio, you can see that it is much better now than before.

The bitter truth is, we don't like other coin but we love BCH because read.cash gives us bitcoincash as a blogging reward.

If we got BTC, no matter how much time it takes for transaction, we used to bow our heads in front of BTC.