There is a time to be patient, this is how investing works, and it can take a long time before we reap the fruits of our labor. The time we put at research and the risk we undertake are not for nothing, when we are having our emotions set at place and don't just react randomly under distress or boredom.
We have a test of the SmartBCH market and there is a lot created already. I've watched other blockchains reaching quite high in price because they advertised the blockchains but did nothing to define the reasons they will stand for long. I've seen Chainlink having very little to offer, and it still hasn't delivered something too useful to justify market cap of all these billion dollars.
Image downloaded from Pixabay (free to use)
Working silently and slowly is better, since after price rises by tenfold, and the technology does not back this price, then the investors will begin selling, and the selling will take a long time making the chart bearish. I don't want this for Bitcoin Cash, it is a blockchain that deserves a growth similar to the rest, at least.
Why Bitcoin Cash?
Kim Dotcom, a major internet entrepreneur and political activist has been a vocal advocate for Bitcoin Cash for some time. He explained his reasons, that have to do with the standards he is setting for a cryptocurrency. These standards are also what bring many into crypto and what they expect to find.
Image downloaded from whybitcoincash.com
Best in Speed and Fees
It is a deep feeling of disappointment for everyone when we made our first Bitcoin transaction with BTC when we joined for the first time.
Nobody talks about the fees or the speed. It takes one hour for six confirmations between some wallets and exchanges and it is a couple of dollars today to send your BTC somewhere else, but this is also the first dissapointment, since we all expect the transactions to take just seconds and have fees that could compete with our credit cards.
Digital Cash
It is money, and has to compete with the money the banks present, or other methods we have like PayPal. How is this reliable if it takes so long. Bypassing this we move on and try to find gaps in the market that we can fill with our entrepreneur spirit. With BTC this is almost impossible.
Then we get a message about the Lightning Network and things get so complicated that maybe as a business I should just hire a person to arrange all the transactions. It should be easy and automated, but it is making he life of businesses hard.
I've been told quite a few times that BTC wasn't fit as payment by other businessmen. It is not fit and not working either. Then there is LN, that seems to be a totally different network. It was working but then it stopped.
Besides the low fees Bitcoin Cash also has high speed in transactions that only take a few seconds. Sending, transmiting and the other end receives almost instantly. I have looked in some cryptocurrencies doing that but Bitcoin Cash is perfect for Digital Cash.
Secure
But this is not just it. Bitcoin Cash has everything else Bitcoin has. Maybe not so much hash power, but it is secure and this has been tested previously, one time when a 51% attack was about to take place but two mining pools combined power and eliminated the threat.
Decentralized
Bitcoin Cash is decentralized, although not as highly as Bitcoin (BTC) is. There is room for improvement in this field. It is a part of crypto I value a lot and the more fragmented mining is the better it is.
The rest about Bitcoin Cash is almost the same for most cryptocurrencies, as it derives from the Bitcoin principles as set by Satoshi. It is cool having followed developments and made the dream come true. There is room for improvement in all networks and unlike BTC, Bitcoin Cash cares to keep developing.
SmartBCH
SmartBCH has been an attempt to explore the DeFi space and it is arleady looking as a great advancement for Bitcoin Cash. It is a sidechain, a network on top of the BCH network that can do wonders in very short term.
NFTs are the next step developers are exploring and there are plenty of fans that could be attracted to it.
SmartBCH
All these latest developments with SmartBCH will need time to mature and reach to better ground. Any investors will have to be patient since what will be created on SmartBCH will be of the highest quality in the blockchain world.
So far what we had was gamers trying to find a simple game and not able to play because of fees and congestion in the Ethereum network. We had Dapps that for the same reason nobody cared to use again. Ethereum also has some great platforms that could only work and attract traffic within the Bitcoin Cash network.
I've read that Benswap developers will unveil their faces and become public figures, maybe this will bring some more trust in the first Defi project we have. Defi is not exactly autonomous networks like the DAOs but have a lot of centralization elements. Hopefully we will watch dozens of new Defi either build completely for SmartBCH, or adapt from other networks.
Finally
I left adoption as a currency for the last part. It is great to notice this and I think that especially for some locations of the world where people have to combat high inflation levels, adoption of Bitcoin Cash as currency is important and justifiably we are trying to promote it.
Venezuela is one country that Bitcoin Cash could do wonders to tranform the lives of millions. Maybe Lebanon and Turkey next, that have seen a rapid decline in the value of their national currencies. Fiat is build with inflation as a feature, but there could be many reasons for this inflation to rise dramatically.
But I don't know if Bitcoin Cash or any cryptocurrency will meet any decent adoption levels for the time being in a modest economy, or in countries that have a strong currency. I approve every attempt but I think that for the moment it is the Internet that is most important, the digital space and adoption could happen rapidly in the Defi world.
This is also the reason I followed Bitcoin Cash and supported it more strongly this year. If we look at the chart it is all Defi platforms that have been giving the most profit. As an investor I find Bitcoin Cash to be covering at least 95% of the cryptocurrency fundamentals I like to see in a project.
I don't know where other investors are watching but they seem to be following what some random talking heads tell them without much research.
Bitcoin is the best platform