Is Bitcoin Cash The Best Currency Candidate In Crypto
I'm currently seeing lots of news of big companies purchasing BTC in the small and big dumps you may still remember or heard the names of Microstrategy, Terra a stablecoin which recently a few weeks ago purchased millions value of BTC.
Do you know what is the reason behind investing in it?
Not a Crypto expert but sharing the level of information that I hold. Experts don't hesitate to spank and correct me. And in my whole post currency means digital currency, okay.
As we know BTC doesn't hold that much potential and future use case value which many other coins are having like ETH ( Ethereum ) and BCH or Bitcoin Cash. Still why? All whales go for this coin as an investment even though there's not much special thing about it.
To me, this seems like a Tax escape thing haha or maybe they want to use the hype of BTC and take profit as much as they can. Lots of unnecessary promoters and die hard followers hype will continue for more 5-10 years as I see.
Projects with actual value have grown so much in recent years, an example is Pandalands a game based on the SmartBCH chain that is trending now. Sadly I got the news late. Ah, why every time I got this news late. As an ex-gamer not being able to step into the Blockchain games early is heartbreaking to me.
There are better alternatives, still, some big companies go for BTC, I think you know the answer as Bitcoin is mostly held and traded by whales, big whales and with the help of exchanges, they can manipulate the market easily also due to BTC's dominance of 40% or more in the crypto market. The majority of coins follow the same trend.
I was a die-hard follower of Bitcoin but with time I researched and found that being the first coin it showed this much growth otherwise there were far better projects like it.
Crypto's basic motive was to replace currency or act like a currency or give a thing that has a usecase of currency.
But Bitcoin doesn't give me any feeling or hope of using it as a currency (digital currency) as the transaction fees are not optimal for everyone. And currency should be used by everyone.
When I see news of countries adopting crypto as a currency, I see the focus is on Bitcoin mostly but is it that compatible to be used as a currency?
Nope, Small investors will never be able to use BTC as a currency.
But what about BitcoinCash.
BCH or BITCOIN CASH is a decentralised PEER-TO-PEER currency, oh no no just because it helped me a lot doesn't mean I will speak nonsense and promote it like those influencers which you see on YouTube who promote anything in which they get profit. With the fastest transaction and lowest fee, BCH already dominates other Crypto coins.
Mostly Crypto coins were made to replace the dependency on the currency. And you know currency is made to spend not to keep in pockets. Just like that with fast and low fee transactions. What do think is the best coin capable of doing the alternative currency job, yeah BCH. I know it's not a stable coin like a currency ( but even a country's currency loses or gains value in time ). But it's crypto, and cryptos value will go up and down as it moves like that only just like any currency but I won't deny the fluctuations in price is high for now. And it has a reason and explanation as Crypto adoption is still in the starting phase so these big market fluctuations are to be expected.
It has now even a side chain named SmartBCH which already has lots of successful projects, I only know about the Joystick Club and Pandaland both are blockchain games in SmartBCH giving huge profits to its players and investors. As a gamer, I majorly focus on gaming projects.
Also a new SmartBCH Blockchain game is launched named BCH Towns, I'm looking forward to this game. But there's some issues in their website which is making me a bit confused in investing. ( Edit after few days- It was a rug pull project, such a disappointment )
I see Bitcoin Cash as the most potential candidate which can rule the Crypto market, not like BTC but like where every small and big investor will be able to do transactions and use it as currency freely without much thinking.
Final Thoughts
To me the best Crypto asset in terms of adoption should be Bitcoin Cash and countries should adopt and promote this first rather than BTC. As everyone can trade, and do transactions in Bitcoin Cash but very few can in Bitcoin. If you really want to promote Crypto adoption, one should start it with Bitcoin Cash.
And Crypto isn't money but it's a form of digital money with the purpose to act as a digital currency. Lol, this isn't confusing na.
My mind- C'mon Noob do more research.
If you have read this far. Congrats you earned a question which you have to answer.
What is the major and main currency used in your country?
Mine is Indian Rupee ( INR ) in which 1USD equals 76INR for now, and it fluctuates from 70-80 so not that stable.
*I am also on some other Platforms, Let's Join Forces there.
We have been preaching about BCH to be used instead of BTC but it's still a slow process of getting there but we will surely get there.