How Bitcoin Cash Transforms Crypto Hypes into FinTech Hopes
The cryptocurrency market sells hypes with hopes.
News hypes primarily drive a financial market. Investors are attracted to future gains by projecting huge growth prospects. Similarly, the buyers of cryptocurrencies are assured unrealistic profits, such as "X coin will hit $100k by 202x," etc.
It is equivalent to selling the "input hypes" with the "output hopes." When the "output hopes" get shattered, the investors start disbelieving the technologies behind the assets.
The cryptocurrency marketplace is like a big supermarket for selling "input hypes" with "output hopes." The first cryptocurrency Bitcoin has won investors and intensified the "input hypes." The "output hopes" haven't met the projected growth.
What are the cryptocurrency hypes?
Some examples of cryptocurrency hypes are:
=> Cryptocurrencies will replace fiat currencies!
=> Coin A will hit $100k by the end of 2022!
=> Mr. X will put coin Y in heaven!
What are the fintech hopes?
Some examples of cryptocurrency hopes are:
=> Cryptocurrencies will be used for online payments.
=> Cryptocurrencies will be adopted by global merchants.
=> Cryptocurrencies will be adopted for crowdfunding startup projects.
Bitcoin Cash (BCH) has the potential to transform hypes into hopes
Claiming that a particular cryptocurrency will or may achieve some heights is easy. But, to achieve it, in reality, is a daunting task.
How will it be possible to transform cryptocurrency hypes into fintech hopes?
I try to express these perspectives of Bitcoin Cash (BCH) realistically.
Firstly, all the stakeholders of BCH must reject all sorts of cryptocurrency hype.
BCH is a competitor of other cryptocurrencies, but not fiat currencies. Fiat is altogether in a different domain and may remain there. Putting efforts to kill fiat currencies will waste a lot of resources.
Secondly, BCH may not need to project big price cap hype. Let Bitcoin (BTC) and other cryptocurrencies play the price cap game. The market value of BCH will automatically rise as its adoption increases by all its global stakeholders.
Thirdly, bringing celebrity tech corporate owners into a cryptocurrency project may make its future volatile and vulnerable. The celebrity investors may suddenly withdraw all their holdings, creating a financial crisis or void. The core BCH project may not need volatile (uncertain) celebrity endorsements.
[We may briefly exemplify the famous (or infamous) corporate owner Musk, who played uncertain business games with some cryptocurrencies.]
BCH has already accomplished realizing some FinTech hopes
"Cryptocurrencies will be used for online payments."
BCH has been adopted for peer-to-peer online payments.
"Cryptocurrencies will be adopted by global merchants."
A large number of global merchants have accepted BCH.
"Cryptocurrencies will be adopted for crowdfunding startup projects."
BCH has been used for crowdfunding, exciting tech, and social projects.
Bringing it altogether
Bitcoin Cash indeed demonstrated immense possibilities in terms of technology, innovation, performance, as well as adoption by global citizens.
Bitcoin Cash is poised to transform the cryptocurrency hypes into fintech hopes.
All the stakeholders of Bitcoin Cash, including the founders, developers, investors, and users, must streamline their efforts toward rejecting all sorts of cryptocurrency hypes.
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Unity (Debesh Choudhury)
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Disclaimer: All texts are mine and original. Any similarity and resemblance to any other content are purely accidental. The article is not advice for life, career, business, or investment. Do your research before adopting any options.
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July 23, 2022
Bitcoincash is reall crypto we need. It not only had revolutionized the world but also made crypto more popular. It was good article about Bitcoincash, I love your thinking brother.