Why Invest in Bitcoin Cash?

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Avatar for annayks
3 years ago

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

Image downloaded from unsplash.com

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.

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3 years ago

Comments

Bitcoin is the best platform

$ 0.00
3 years ago

Bitcoin cash is the best in crypto and hopefully many will use crypto to make bitcoincash last longer because it is a blessing to all of us .

$ 0.00
3 years ago

Bitcoin cash has a lot of future value in my opinion, and for many of the reasons you stated. I also think it has familiarity since Bitcoin is in its name. And of course everyone knows what cash is. If any of these coins have legs, BCH is the one I think can actually jump ahead of BTC.

$ 0.00
3 years ago

I am slowly but surely learning about Bitcoin and other altcoins. Thanks to friends who don't mind sharing the wealth I was introduced to Bitcoin Cash. Out of all of the different digital coins I have tried, my experience with BCH has been the most positive for all of the reasons you stated in your article. Good job!

$ 0.00
3 years ago

Very elaborate and informative article..I am a BCH fan too!

$ 0.00
3 years ago

The situation in Turkey is somewhat different. We are experiencing both an economic crisis due to some mistakes on an administrative basis and accordingly inflation and a loss of value in our money. Looking at the last words, I understand that they may be in a war against crypto.

$ 0.00
3 years ago

It is sad to learn this my friend, you can escape the bad money with cryptocurrency, and remember not to tell how much you hold.

$ 0.00
3 years ago

Just a few weeks ago I did not know that this platform existed. Today I tell you that entering here is one of the best decisions of my life. When it comes to storing BCH for the future it is clear that it is a unique opportunity that we have in mind. Eventually the BCH will rebound high again.

$ 0.01
3 years ago

I think bitcoin is the best coin. it's gives us a better life.i hope it's recovery soon.

$ 0.00
3 years ago

Why do you think so? What is Bitcoin that does better from Bitcoin Cash?

$ 0.00
3 years ago

I think you really capture the beauty of BCH. I had never used it until joining noise.cash, and just assumed it was a fake knockoff of BTC. But the more I learn about BCH, the more useful it actually seems. While BTC is still my largest bag, I have never used it as a currency, but more as a longer term investment. It is so fun that using sites like noise.cash and read.cash, users can tip one another directly to their wallets with almost negligible fees, and the transactions are confirmed almost instantly!

$ 0.00
3 years ago

There will be DeFi boom with Bitcoin Cash. This is why I am staying here, I was about to completely quit crypto after having sold most during February-May. I was expecting a crash and wrote many times about it, and the plan was to move to other investments, but SmartBCH is the real thing that kept me stay. I like Bitcoin Cash and hope it will get adopted, but Defi changes the game.

$ 0.00
3 years ago

One day BCH go to the moon.it's gives us a better future. Currently though the down market. Currently though the down market. It will be recovered very soon, it can be said.

$ 0.00
3 years ago

Yes, my dear, I think that it will recover soon too. The market is moving slowly and bleeding but there will be a break out for Bitcoin Cash and there will also be a better future with Bitcoin Cash at the top.

$ 0.00
3 years ago