My Awakening to the Wonder That Is Bitcoin Cash

Pre-Awakening

The phrase ‘the awakening’ could mean a lot of thing but in this article it’s used in the context of me awakening to the wonder of Bitcoin Cash.

How did I ‘awaken’ you asked?

Well, it’s a long story… or maybe not.

So the story goes like this. Before I started using BCH, I’m an ardent supporter of BTC and ETH. All of my cryptocurrency transactions involved either BTC or ETH.

Yes, no BCH, no LTC, no XRP no, nothin...

Actually there’s a reason why only transact using BTC or ETH. Firstly, I’m a former supporter of the two cryptocurrencies. Secondly, when I started writing online (I used to blog on Steemit) I am paid in STEEM. And in order for me to cash out my earnings, I need to convert it to BTC (ETH only became available a while later) before converting it to Fiat.

Now as for the reason why I always choose to convert my STEEM to BTC or ETH, the answer is actually much simpler: The platform I used to convert my BTC to Fiat, coins.ph, only deals with the aforementioned cryptocurrencies.

Yes, coins.ph didn’t offer BCH back when I started writing at Steemit. Then why did I not use other exchanges, you asked?

That’s because a few years back, only coins.ph deals with cryptocurrencies in my country and only in 2020 did our government approved other exchanges. So basically, we don’t have many options back then, at least in comparison to those in the US, Europe and other part of Asia.

But even when coins.ph started transacting with BCH (and XRP) I still did not use BCH and stick with BTC and ETH. Why? It’s because I’m an idiot…

I could have started using BCH more than a year ago but being an ardent BTC and ETH fan boy, I stuck to my gun and refused to use other cryptocurrencies.

It was a stupid decision that made me lose out on my potential earnings. Something that I regret till this day.

The Awakening

The first time I used BCH was just before 2021. Before that, it’s always BTC or ETH. No exception.

When I used BCH for the first time, it was mainly due to curiosity. Back then I’m starting to get ticked off by BTC and ETH’s long transaction delays and high transaction and gas fees. The long transaction delay I could still tolerate but the high transaction and gas fees the real reason why I decided to try other options.

So what happened was that when the time for me to withdraw and convert my last STEEM earnings to Fiat, I decided to use BCH instead of BTC or ETH. And the result made me… face-palmed.

Yes, I face-palmed but not because BCH sucks and my experience was bad. No, it’s the opposite. I face-palmed because how stupid I was back then. The transaction fee, the speed; BCH surpasses BTC and ETH on all accounts. I would even dare say that they’re not on the same level.

Maybe I was just being bias due to the shock but that’s how I felt back then. And the more I use BCH, the more I grew to realize how much I have missed out. Also, I finally understand why BTC was considered digital gold. BTC had reached the limit of its usability and could only be relegated as a store of value. And as for ETH, its absurd gas fee and long delays made it almost impossible to be used as a peer-to-peer electronic currency.

BCH is way much better than other cryptocurrencies, and no, I’m not just comparing it to BTC and ETH anymore. I have also tried other cryptocurrencies like LTC (litecoin), XRP (ripple), and DOGE (dogecoin). And the experience wasn’t bad at all. Actually it was good. But despite my good experience with them, there’s just something about BCH that made me stick with it.

Maybe it’s the potential of BCH. I have this feeling that although DOGE, LTC, and XRP weren’t bad, their potential was limited. Unlike BCH, they might not truly reach mass adoption.

Admittedly, BCH has its share of disadvantage. Firstly, like most cryptocurrencies, it’s still very volatile. Secondly, its value rises and falls along with BCT due to correlation. This can’t be helped as it’s a fork of BTC but I really want to see this be addressed in the near future. Thirdly, BCH don’t seem to be as decentralized as other cryptocurrencies. The fact that BSV exist was proof of this (people on the top have different vision for the cryptocurrency resulting in a split). Lastly, there were still lingering effects remaining after the fork that causes the original BCH to split between the current BCH and BSV. These lingering effects cause some people from joining the BCH train.

But despite the disadvantages I mentioned, BCH is still among the best cryptocurrency out there. What’s more, BCH is slowly regaining the ground that it had lost because of the split while BSV on the other hand is slowly becoming stagnant.

The Future of Cryptocurrency is BCH

BCH is the future; I have great confidence in that. The only way I could see BCH actually failing is when the governments around the world start a global wide crackdown on all cryptocurrencies. But the chance of that happening is very slim.

I mean, why would they? The potential of cryptocurrencies like BCH is clear for everyone to see. Even if the government felt threatened, they would not suddenly start banning cryptocurrencies. Sure, they might start pushing for more regulations but as long as cryptocurrencies keep improving, and showing its worth, the populace will keep supporting them.

Speaking of improvement and worth…

While the biggest cryptocurrency (BTC) remained stagnant, BCH keeps improving and moving forward.  And the lost vision that made Satoshi Nakamoto to give up on Bitcoin was being realized by BCH.

Unlike BTC, BCH has a clear goal and reason for its existence. It’s not to be a store of value or a token where all other tokens are to be built upon. Rather it’s to become a true digital currency – a currency that could be used for all type of transactions – a cheap, fast, and secure currency that people in all manners of life could use.

There are also other cryptocurrencies with the same goal as BCH but I strongly believed that only BCH could withstand the test of time while others could only fall behind or worse, fall to obscurity. I’m not saying that BCH should be the only digital currency because that would be unrealistic. But even if there are other digital currency, BCH would still be on top.

To be honest, I’m really glad that I switched from BTC to BCH. Although it took me quite a long time to realize the wonder of BCH, I believed that I’m not really too late. Because I believed in the potential of BCH, I can confidently say that I’m one of its most ardent supporters. And unless BCH lost its vision and become another BTC, I’m here to stay.

What do you think of this article? Please share your thoughts in the comment section.

Thanks for reading.

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