About Cashing Out

Is Crypto (and Bitcoin Cash) about "Cashing out"?

What do I do if have $1M worth of BCH and I want to spend it? What do I do if my BCH is not worth much now, but it will be worth $1M tomorrow? Should I cash out to realize my "gainz"?

Also there is a problem with cashing out from crypto to large sums of fiat - doing it without going through KYC/AML process is very hard. But doesn't that defeat the purpose of crypto if you have to go through a bank every time you want to use your money?

Some people call this a "shortfall of crypto". But is it really a shortfall of crypto itself ?

In fact, above situation is not due to the cryptos themselves, but due to BCH (and some other cryptos) not being used as they should be. As perceived and designed by Satoshi Nakamoto.

If all shops and sellers accepted BCH directly, then there would really be no need to "cash out" from $1M worth of BCH.

Why "cash out" even when you hold a superior form of money on the planet guaranteed by the laws of math and physics? Cash out to what, pieces of paper "backed" by people with guns that threaten to murder or imprison everybody that does not comply and accept it? Nah. No need to cash out, ever.

The way out of the situation is obvious: Just make the ecosystem accept BCH directly for goods and services.

It always was supposed to happen this way, it won't happen in any other way. Especially, it will not happen when people treat crypto as some kind of "gold" that they have to keep hidden somewhere because it can be worth billions one day.

That said, unless some kind of Black Swan event happens that accelerates the adoption of BCH like it happened with the Internet where everybody accepts and uses BCH everywhere, I also don't see it happening.

It doesn't seem right now that it will happen organically, because US government destroyed BTC and stopped the avalanche of adoption basically. Right now, we are not starting even from 0, but from -20. The reputation of crypto is terrible (NgU ideology, casino, gambling) and reputation of BCH is still even worse (scam, shitcoin, copycat of BTC).

So things are not looking good right now, honestly.

But I am optimistic despite above. I think the Black Swan event (like collapse of current financial system) will happen.

It literally has to happen, because the dumb herd that follows the Number Go Up way of thinking does not learn in any other way other than through a total, utter catastrophe. People don't change their ways unless they are hit in the face and knocked out on the ground.

So if it takes a crisis and suffering to change people's ways, so be it. That's too bad crises cannot be avoided, but perhaps they are necessary sacrifice for human development in general.

Actually, the crisis is already happening and started over 50 years ago - people are losing their purchasing power and their wealth is being stolen from them by the banks all the time.

Today's American man is basically a hobo comparing to 1980's American man, where 1 person could support a whole family with 2 children and 2 cars in a suburban house, from just 1 payroll. It's getting worse, fast. Following charts show it very clearly:

People are just too dumb to notice it because the events are happening gradually, not instantly.

So maybe what the world needs is a spark that will ignite the house of cards and burn it down. What kind of spark? Impossible to say.

More information about "the great heist" the banks executed against the population of the world is located at this website:

wtfhappenedin1971 dot com

Thank you for reading.

SoH