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No One Cares About Bitcoin Cash if it Doesn't Make Them Money

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Avatar for dave_gutteridge
Written by   171
11 months ago

Privacy? Whatever. No one cares if the government tracks how many coffees you buy.

Peer to Peer? Everyone is doing just fine with the money and credit they use through banks.

Security? Is having to remember a 12 word passphrase that you can never recover if you lose it so much better than having to trust a bank?

The lives of everyone who are not using cryptocurrency are just fine right now. Let that sink in a bit, don't just gloss over it. People are shopping at stores, getting paid at their job, going out to restaurants, and it all works the way everyone expects it to work. No one is standing at a cash register in a grocery store yelling, "There has got to be a better way!"

No one looks at Bitcoin Cash, and pays for something with a QR code, and thinks, "Wow, that is totally unlike the dozens and dozens of other electronic payment available to me already!"

While each and every store that takes on Bitcoin Cash is a tiny step in the right direction, the idea that you could go to a place and also pay with Bitcoin Cash for a thing that you can just as easily pay for with dozens of other methods just isn't that dazzling.

People in the cryptocurrency world in general, and the Bitcoin Cash community in particular, talk about all sorts of issues that people should want out of a new world currency. And issues of privacy and security and no third parties and whatever do matter... to about 1% of people, most of whom are already involved in crypto.

The fact is, there is one reason, and one reason above all else, that the wider world of people are coming to cryptocurrency. They hope to make money.

Right now, that mostly involves investing in Bitcoin like a stock, hoping it will go up so they can cash out later. And people who buy Bitcoin don't feel any obligation to use BTC, or care about its particulars, just like they don't expect to directly use something made by an aerospace or biotech company that they've invested in.

And Bitcoin is winning in terms of cash influx above all other currencies because they promise not much else, and so far they've delivered. Sure, it's all a Ponzi scheme, and the market is being juiced by Tether, but that only matters if you're one of the people who gets out of the game too late. For now, it looks like there's a lot more game to be played.

Meanwhile, people in the BCH community are busy right now making new videos to explain Bitcoin Cash, or raising funds for some marketing push. Explaining how it works better than real cash, explaining how everyone would be better off using it. And they're essentially screaming this to a world that just doesn't care.

No.

One.

Cares.

Bitcoin Cash isn't selling something that people need. And I say that even though I will argue until I'm blue in the face that BCH can make the world a better place. The problem is, it will make things better once it's established, but it won't get established unless people use it, and people won't begin to use it without an immediate benefit. BCH needs a way to attract people in the now, or it might never get the spark it needs to start a fire.

The 99% of the world who aren't already part of the cryptocurrency world are only going to be interested in one thing about Bitcoin Cash.

Will it provide them with a means to get more money than they have now?

There are two ways it might. One is by investment. Many people believe it's undervalued right now, and that's a good narrative, one I think is likely to be true. Especially over the long term.

However, for a person who is coming from the larger world, who hasn't heard of, and doesn't care about, scaling debates or proof of work or anything like that, Bitcoin Cash doesn't have a lot to differentiate it from the dozens of other coins available. Even if they've never been subjected to the negative propaganda pushed by Bitcoin maximalists, it takes a lot of explaining to get people to see what makes Bitcoin Cash a legitimate contender. "A lot of explaining" is never a good thing when it comes to convincing people.

Bitcoin Cash is at a serious perception disadvantage when it comes to investment, where it has to compete in the casino of coins pumping out bubbles all the time.

But arguably, it's not that important for Bitcoin Cash to compete in that arena. Attracting people who just want the number to go up will elevate BCH's credibility among the masses by raising its market cap now and again. But that doesn't build any foundation.

And foundations are where BCH competes the best. Not the foundations of peer-to-peer freedoms and security and whatever thing that matters to crypto enthusiasts.

Bitcoin Cash is already out in the world doing things that other cryptos are still building towards. I'm talking about services like Noise.cash, which can be explained by simply saying, "It's like Twitter, except you can make money for popular posts."

"You can make money."

That's the part that sells it.

If Bitcoin Cash wants to succeed, it doesn't need to be explained any more. There are countless explanations in all sorts of media. All that explanation is largely hitting only people who are interested in cryptocurrency for its own sake anyway.

What Bitcoin Cash needs is more services like Noise.cash, where you can simply say to people, "It's like X, except you can get paid." You like Twitter? How about no ads and you can make money? It just makes sense, you don't have to explain anything.

There needs to be more services like this.

Instagram, but with tipping.

Facebook, without ads, and likes have real value.

A Reddit where upvotes can be cash.

A podcast player where people can support podcasts with micropayments. A Patreon service where there are no monthly subscriptions or minimum fees. A Meetup.com where people can pay for events right in the app.

The list goes on and on. There are so many services and apps that could be made more appealing by combining them with BCH and allowing people to transfer value around. I'm sure there's more than I can even conceive of.

This is how BCH can compete so much stronger than any other crypto. With masses of people who don't care at all about scaling debates or crypto factions simply using services they want to use, and getting paid in ways they weren't making money before. Not getting rich, just getting new flows of revenue.

Or, it could be people, like those in developing nations, where the ability to make tiny online transactions with no prohibitive fees opens up new ways for money to flow. They'll be able to develop services that matter to them that I'm too privileged to imagine. The point is, it's not the scale that matters, it's the immediacy of the benefit.

No one will be able to deny BCH's value, no matter how much it's decried in Reddit forums, when its transactions are going through the roof on the back of a multitude of services.

If you're thinking of making a service or product that helps grow BCH adoption, then ask yourself, "how does this let people get money they weren't getting before?"

If you can't answer that, well...

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Avatar for dave_gutteridge
Written by   171
11 months ago
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Comments

Wow. This post says EVERYTHING I have been saying or TRYING to say about not just BCH, but crypto in general. Because you are absolutely right. No one cares about any of the things that BCH is trying to market its uniqueness about. My fiat works perfectly fine, always has, always will.

The very reason I got into crypto was for exactly the reason I think the vast majority do—as you said of course—and that is to make money.

Perhaps I am considered somewhat perverted in the crypto world because the way I view it, I am not looking for crypto grow my crypto. I am looking for crypto to grow my fiat.

For now. Like you said, if BCH is as easily used as fiat is, maybe it's got something for everyone. But right now it's just another coin mixed in with my quarters, nickels, dimes, and pennies. A coin, incidentally, that will have to stay in my pocket if no one thinks it's real money.

$ 0.00
4 months ago

I'm not entirely sure you got the point of my article. Maybe I failed to convey my point sufficiently.

I don't think crypto should be used to grow anyone's fiat holdings.

I think crypto should make people money by creating new forms of transaction, to facilitate the economy by allowing for less friction, and help create new business models.

I think speculation on price has been a huge problem for crypto, and has stunted its potential.

$ 0.01
4 months ago

No. I am with you on ALL of that. But I am also a realist, and I think the first part of your article conveyed exactly what the majority sentiment is when people think of crypto. I was agreeing with you that the marketing is all wrong.

Part of what I mean is that for me the stock market is still where its at if one REALLY wants to make money. So, if at some point I can buy shares of Walmart with some crypto, now we may be onto something. At that point, now I can use my crypto like a currency and use my stocks as a vehicle for growth.

I can't buy shares of Walmart with crypto, and if the only point is to spend the money and not grow it (at some point)...

It's kind of useless to a guy like me.

Because spenders never get rich.

$ 0.00
4 months ago

Yes exactly. If we aren't getting tipped here and in noise then there wouldn't be any community around here. Haha. This is what makes us love BCH. We get tipped for things we post in noise unlike if we post it on other social media. That makes noise the best among the rest. 😄

$ 0.00
4 months ago

Great arguments, you are on point. Nothing wrong of getting money from BCH especially if majority of poor people does it. It would be hypocritical really to say that I am not in read.cash and noise.cssh for the tips. Part of adoption is getting people addicted or hooked to a technology until they cannot imagine a life without it. If financial incentive such as tipping will do that to BCH, I am all for it.

$ 0.00
11 months ago

if anyone can answer the question at the end of your writing, that means by giving suggestions and actions at once, maybe this question can be used for some people,

I will read your writing a few times so I can learn what I really want,

thank you

$ 0.00
11 months ago

Just WOW.. congratulations sir...

$ 0.00
11 months ago

Hopefully someday a remittance service for all Overseas Filipino Workers using Bitcoin Cash could surely help our developing country. It will surely be used by Filipinos worldwide because sending money back to the Philippines is already part of our culture.

$ 0.00
11 months ago

EDITED: I've managed to clarify my points and decided to strikethrough the whole comment (I have a thing with archiving).

Reading it now, it's really the sad truth of life, even if I don't want it to be true. Considering the fact that noise.cash is growing really fast as it allows you to earn (20% of you tipping others goes to you!) while also treating it as a very clean version of Twitter.

Read.cash also has a similar function with the Random Rewarder account (an old system had you making four comments or one article just to get a slice of $500, really annoying and subconsciously fueled this comment).

I have to admit that I also once was driven to use Bitcoin Cash because I wanted to earn more than my daily allowances (and to spend on games) due to the fact that back pre-COVID-19, the Philippine Peso was at its lowest against the US Dollar, something like PHP 60 for US$ 1, really limiting my purchases since it meant that my PHP 500 was more like $8.33, not much to buy or anything.

Kinda surprising now to see that I've been... too blinded that people just want the same thing.


You're limiting your mindset too much for those that don't need cryptocurrencies, like first-world countries. BCH isn't a get-rich-quick scheme, you know.

Outside places like Europe and America though, Bitcoin Cash is leading the field. Those videos explaining Bitcoin Cash? Not for you. I've seen three types of people wanting to use cryptocurrencies other than "investing", and these are the following:

  • People in third world countries
  • People living with heavy bank restrictions
  • People who cannot use their IDs to open bank accounts

And these are just the people I've noticed.

By making a flat accusation that "the 99% doesn't care about Bitcoin Cash", you're essentially disregarding people that has cared about Bitcoin Cash. Or else places like Slovakia and Australia would've stopped people from taking up shop with Bitcoin Cash usage.

You're wrong that 99% of the people don't care because they want to earn. They want to earn, yes, but they don't care because they don't know. All they know is their home (fiat) currency, and how much they're earning isn't enough.

That's why noise.cash is big on Bangladeshi, Filipinos, etc.. Most of the users come from third-world countries that want to get cash because they don't know anything else, and Bitcoin Cash is a hurdle they'll have to face, and a lot of them have started to use it in their lives as well, but there are not many merchants because they don't know its worth.

If you have given up, it's all on you. I'm not giving up. We're going to make the 99% care by showing them why they should care. Once something goes horribly wrong with the economy, those that do know will be able to keep themselves afloat. You can't use Bitcoin as a pure investment, you know. The price is too volatile to be a store of value. You can't move them without losing much of their value in fees alone. If you need to withdraw them out, you'd have to face a lot of people potentially doing the same, and Coinbase can't handle that.

So... after all that out of my way, let me see how you can earn cash from current sites that constitute "adoption".

  • You've already given noise.cash, of course.
  • Read.cash allows you to earn by getting tipped or making articles to get paid by a bot from a fund.
  • LazyFox.io allows you to get paid directly by correctly answering and doing tasks.
  • Detoken.net minimizes the risk of your funds disappearing, and also allows users to see how to hedge(short) or long.
  • Memo.cash and Member.cash allows you to make Twitter-like posts on-chain, and get tipped large when the small community inside the BCH blockchain likes it.

Others are just fluff and foundational supports. CashFusion allows you to coinjoin/mix coins with others so you don't get tracked when people get curious if your funds are from illegal sources, even if you didn't know. The Simple Ledger Protocol allows people to earn by creating tokens that can do things as you know, get yourself money.

You've kinda offended me when you said no one cares about Bitcoin Cash. This is just me blowing off steam. Feel free to argue with me.

And if your experience of the 99% are just people who just beg for money? Considering your bio makes you someone semi-famous in Japan, well, it's on theirs for doing it and on you for not calling it out.

Bitcoin Cash is not "Free Money." https://read.cash/@RowanSkie/bch-is-not-free-money-3e1e9060

The price of Bitcoin Cash does not matter. https://read.cash/@RowanSkie/cryptocurrency-market-lists-do-not-matter-for-bitcoin-cash-1331dbdd

And to those that just want money? Don't beg. https://read.cash/@RowanSkie/begging-doesnt-help-at-all-93d24f3c

EDIT: You do know that Bitcoin Cash is also very good at sending money cross-countries, right?

$ 0.00
11 months ago

I'm not sure you read the article. Nowhere do I advocate for any kind of "get rich quick" approach to BCH, and the conclusion of the article is that adoption is where BCH competes the best.

I also never said "no one cares about Bitcoin Cash", or accused anyone of begging for money... there's too much you attribute to my article that just isn't there, to the point where I don't think you are talking about anything that I'm talking about.

I'd be happy to discuss the finer points, but I can't right now because I don't think the points you raise are connected to what I'm saying. You seem to have either stopped reading the article part way through, or you are looking at it through such a particular lens that it's influencing your interpretation into something the article isn't about.

$ 0.01
11 months ago

Well, I've cleared my mind a bit, and it's definitely the latter on the last paragraph. I had a large bias, plus people are always advocating for the price rising and stuff. Plus just the title... so yeah.

I guess I really just can't accept people just want it purely for money either. Want me to delete the comment?

$ 0.00
11 months ago

Only you can decide if you want to delete the comment, based on whether or not you feel like you want to stand by it. Or you could edit it to something your more happy with.

Like I said, I'd be happy to discuss with you about where you disagree, as I'm all for dialog on issues like this. We all benefit from comparing and contrasting our perceptions. I just want to make sure we're starting from the same place with each other's viewpoint.

$ 0.00
11 months ago

I'd rather archive it as it is and add an edit that I've clarified my points just after rereading more. I'm still a bit iffy that the first part of the title is "No One Cares about Bitcoin Cash", but it's just me throwing a tantrum at this rate.

It's just sad that people do only want cryptocurrency usage just to earn these days. I've read the white paper and understood it to be an anonymous man's contribution to secure the way of transacting money, and then the rather large group annoying making a mess of read.cash and noise.cash had kinda soured the idea so...

You're all good and all. It's just all on me. Besides... kinda have noticed that I wrote that when I didn't have a good morning.

$ 0.00
11 months ago

Understood. We all have those days. I'm glad that after a second look you found the article to be more acceptable.

I actually edited it a little, which I don't usually like to do outside of correcting grammar or typos, because I wouldn't want to change the thing that people have already commented on.

However, you mentioned in your initial comment a little about people in developing countries, and I felt it was a miss on my part not to include them in the overall concept I am describing. So I added in the third to last paragraph, which I think clarifies without altering the article.

By the way, just as an aside, you also mentioned that I'm "semi famous" in Japan. Thanks for your optimistic benefit of the doubt, but, believe me, no one here knows who I am or would consider me remotely famous :D I'm trying, though ;)

$ 0.10
11 months ago

Exactly the same thing done PayPal when created their services - they just give some money every new user that open PayPal account - without that nobody (or 1%) of peoples will start using it

$ 0.00
11 months ago

That's actually something I talk about in a different article, which is a little different from what I'm speaking about here.

What you're referring to is about marketing. What I'm speaking about is adoption. If you want to market something, you can offer incentives, sure.

But if you want to fascilitate adoption, you need to provide a foundation of utility, and what I'm talking about here is that the utility people care about most is access to potential income they don't already have.

$ 0.00
11 months ago