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As the Bitcoin Cash price dips and the rest of my crypto follow the same course), those of us that love cryptocurrencies don't feel too great lately.
G.O.A.T. stands for the Greatest Of All Time, so don't misread it!
The price aggressive swings make it difficult to stay emotionally stable, so I've thought writing will help and communicate with this niche community will make me feel better.
About Bitcoin Cash, some use it for an investment, others use the websites that produce some Bitcoin Cash but only sell it and don't understand the pain of the investors, and others both try to use Bitcoin Cash for their payments and also hold a notable number in their wallet.
I've been doing the same for years, using crypto and promoting crypto, but also investing in it but in a way looking at crypto as the future standard.
I begin with the weaknesses, not because it is priority, only because it is easier for me.
Bitcoin Cash has two weakness.
First. It is restricted to use with an internet access.
And this is the only weakness it has.
I find nothin else to be a problem to adopt Bitcoin Cash.
Yet, technology expands so drastically that soon every place will have cheap internet coverage, working fast to not create a problem.
Second weakness, it needs a smart phone. Some people don't have one, and some still can't afford to buy one.
There are still billions that can't afford a smart phone, and just two years ago this number was 2.5 Billion people.
With the pandemic, I don't think this number increased. A smart mobile is not the only problem, but the bills that these people can't afford come with a cost that is unbearable for them.
The average wage is not enough to buy a single smart mobile for billions of people and with the recent inflation problems, I think it will become a burden for more.
These two problems, internet coverage and cost of owning a mobile phone and mobile connection with internet data, become weaknesses for Bitcoin Cash, and probably all the rest crypto's too.
To reach two more billion people, this is a problem for all of the world to solve, and it can't ignore it.
The strengths of Bitcoin Cash are known to everyone, and I will quickly mention:
Top speed of transacting, paying, spending, transfering money
Immutable blockchain, a transaction can't change, can't double spend, or be censored
Low fees of transcations, perhaps the lowest in all crypto
Has developers that used to be early in Bitcoin
Has interesting backers such as Roger Ver, Marc De Mesel and Kim Dot Com.
Is accepted in many places as we can find at map.bitcoin.com
Has thousands of fans, other cryptos don't have yet are valued a lot higher
I am in crypto enough to know most are not going to be with us for many years.
In the past we have seen cryptos hyping and becoming the next Bitcoin the next ethereum on and on, but as quickly they were rising the faster they disappeared.
Let's hope things will change one day, as Bitcoin Cash is one of the coins under the radar of some big players, and not for bad reason.
The prices drop for more than one year and some cryptocurrencies are again not treated equally to the developments. The powers that created a bubble with some alt tokens are now selling these tokens together with the BTC they held.
But the conditions for sustainable network growth in Bitcoin Cash are the best to invest lately. To succeed in crypto as an investor think differently and maybe do the opposite and looking years ahead. Not too far, but two or three years is when it should be so recognized it will be respected by this market.