Can Bitcoin (BCH) Rise while BTC drops?

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Why can't this market forget about BTC and its volatility but each asset be unique in its chart? The funds invested have decided this is the way its gonna be, but is this fair in any way?

Projects that are building are doomed to follow the whims of BTC, because of the market structure and the automated trading.

It doesn't work like that in the stock market. Bad news for Apple are usually good knews to competitors. Bad news for GM meant that Ford or Tesla will have increased sales since consumers will proceed with the closest product of the competition.


Bitcoin was created to become a currency used for commerce and facilitate payments. Bitcoin now is Bitcoin Cash, yet BTC still has the name and a big part of the community and the hype.

But Bitcoin-BTC can not succeed at what it was supposed to. Everyone by now has realized the fees are not pushing this narrative for BTC, but Bitcoin Cash on the other hand is the real cryptocurrency that Satoshi, Gavin Andresen and so many developers were supporting.

Market is only speculation

The real reason the market is "tethered" (pun intended) to the BTC price action is this market is 100% speculation. Just like the old days of the internet the dot.com bubble, the value of these websites was very close to zero.

Bitcoin under the development of Bitcoin Cash is a proper cryptocurrency, a digital cash we have in our walelts and can transact, but the problem comes where to spend.

Shops are increasing but not at a rate that will allow Bitcoin Cash to dominate payments. There is regional interest but not enough to make us certain that Bitcoin will reach even 1% of the regions transactions market share.

And I don't even discuss other cryptocurrencies that have absolutely zero adoption. BTC is at rock bottom when it comes to payments and adoption for commerce reasons, and other crypto that were supposed to be expanding their networks to reach popular adoption are almost dead projects today (Dash, Litecoin,Nano).


Focus on Internet Adoption

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I enjoy reading about new developments such as SmartBCH, and discussions on tokenization on-chain such as the pmv3 proposal.

At this stage, cryptocurrency has failed in the basic term that describes it. It has failed as a currency and the blame is on BTC but also on the volatility. Sadly a digital asset to succeed in payments require to be more stable, and not lose 75% in a week, or rise by %500 in a month.

This volatility reduces the chances of success to replace a more stable fiat currency. Sure in countries where inflation is devastating the economies any other currency looks appealing. In the rest of the world nobody will care a lot.

Internet Adoption means a cryptocurrency should focus on more than just being a currency . Bitcoin Cash has an outstanding network today, it can rise to the challenge and attract developers to build on top of it.

It takes either sidechains as SmartBCH, protocol changes to adopt tokenization and full smart contract support, or both can be developed and in the process the one that achieves better results can qualify.

To summarise, we will need development, and perseverance to the cause. Bitcoin Cash can become independent from BTC price and create its own future. The Crypto field still has not proven this is possible, but we already watch Ethereum being ready to take over the reins.

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Comments

Sadly, it's true that the market is %100 speculation, and that for the foreseeable future, all Altcoins would follow BTC to some extent.

I like the advice you put in the end, we either BUIDL until we win, or die trying.

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