Join 100,427 users already on read.cash

What would I do if I was gifted 1000BCH?

29 71
Avatar for fantagira
Written by   332
8 months ago

Sunday, 8th of May 2022

They say money doesn’t bring happiness, but is this really true? I get it. There are people who have lots of money and still aren’t happy. There are many layers of happiness I guess and money on its own will not make you magically happy.

What if the lack of money stops you from sleeping and eating, because you are so worried that you won’t be able to pay your bills? In that case an extra 1000BCH sure can make a huge difference and indeed make lot of people happy. I’d definitely be one of those jumping and doing a happy dance if one day I woke up to this amount in my wallet.

Yesterday I read an article by @nheng1118 who was in turn inspired by the article written by @emily2u .

The question in both articles was what would you do if you were gifted 1000BCH? Since it was fun reading about their ideas and dreams I decided it would be a fun way for me too to get back to writing.

What would I do with it? Let’s jump to it…

Firstly - pay off my debts!

Boring, I know, but debts are one of those pesky and very unnecessary ‘bills’ that we have to pay every month and without that extra going out, we could live quite comfortably.

Mortgage is sure one of the biggest debts most people have in this day and age. Technically we don’t even look at it as debt, it’s more like a bill to pay that we got used to. If I wanted to pay that off in one go, that would already be half of 1000BCH gone. Would I do it? Most likely not. Looking at the price of BCH right now ($275) it would be a very poor decision indeed.

Although 1000BCH sounds like a huge number, it translates to around £220 000 at the current price. I have seen BCH at 6 times the current price. Cashing out a huge amount of Bitcoin Cash at $275 would really be heartbreaking.

I would probably convert around 50BCH to FIAT to pay off the credit cards and keep some handy for the months to come.

Keep calm and hodl

That’s it. Hodling the remaining 950 BCH is the only reasonable option I can see. In the year I spent on this platform I wasn’t only writing to earn. In the process I also learned to love #BitcoinCash for all its amazing functionality, low fees, fast transaction times, which makes it the real Bitcoin in my eyes. The money that we can use on a daily basis and without border restrictions.

Careful investments

Further more I’d look into more ways of getting some passive income from my precious BCH. The world of DeFi is booming and it is a dangerous world if we’re not careful. I have learned many expensive lessons from dipping my toes into DeFi. With little careful steps, I will continue learning more about investing and to start with I would most likely utilise platforms like BlockNG to safely put my BCH to work on passive income. Yes, I managed to 2x my investments in a few days in the past, but I also grew overconfident and lost it all. With that in mind I will be satisfied with a few % of safe and steady income from my BCH until I learn more.

Look for ways to spend without converting to FIAT

The current price of BCH is way too low for me to consider converting it to FIAT or spending otherwise. The bear market won’t last forever though. When its value grows I will then consider spending some more of it on things I would like. Like building the wall in my back garden. The builders that are currently building my neighbours fancy wall are big on crypto. Who knows, maybe they would consider taking a payment for my wall in Bitcoin Cash?

In my country there are still very few places where I could pay with BCH, but more and more of them are showing on the BCH map. With some extra BCH to spend I will sure look for more opportunities to do so.

Last, but not least - share it!

What are the blessings worth if we can’t share them with others? With 1000BCH extra in my wallet, I would sure put aside a nice chunk to support all the amazing writers and content creators of read.cash and noise.cash. It just feels good give and pay it forward.

Until next time 💙

18
$ 11.73
$ 10.87 from @TheRandomRewarder
$ 0.10 from @nheng1118
$ 0.10 from @Olasquare
+ 18
Sponsors of fantagira
empty
Avatar for fantagira
Written by   332
8 months ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

That's a big amount! Imagine that we are blessed to have this, but in my case I'll go in building a business and just like you to help others:)

$ 0.01
8 months ago

It would sure be a great amount to wake up to one day 😍

$ 0.00
8 months ago

I like how you still thought about others. Those are surely great plans!

I'd convert probably half of that to fiat to help finish our new home. If there is enough, then buy my parents insurance that they can be qualified for especially health insurance. The rest would be for investment as well although I'm not sure yet where to invest.

$ 0.01
8 months ago

There is so much I could do with this money, but at the current price of BCH I would cry to convert even 1 BCH 🙈

$ 0.00
8 months ago

Nice one sis, it's also a good decision to share it with us, lols 😂

$ 0.01
8 months ago

Haha, sharing is caring and I care and love being generous 🥰

$ 0.00
8 months ago

At least I don´t have debts to pay off with the 1000bch but I will definitely share with people, and pay bills using bch only if there are those who would want to accept crypto. I want to further my education by going abroad to do my Master's degree. This will definitely make education faster because there is money.

$ 0.01
8 months ago

That’s true. I remember once thinking of doing my Masters, but then I moved to another country, started working and forgot all about Masters 😅

$ 0.00
8 months ago

Apart from paying off your debts, Mo...I was hoping you would squeeze my name in there by saying you will take me to your Salsa dance while you pay for our dinner 🤣🤣🤣😂😂😂😂

$ 0.01
8 months ago

Oh dear! Ola always wants more 😅 If you make your way here, I’ll take you to a salsa party whether I receive 1000BCH or not! 💙

$ 0.02
8 months ago

Hahaha. I know you would and you know I always want more of everything you can give 🥰🥰🥰. You are always amazing and sweet.

$ 0.01
8 months ago

Thanks Ola 💙

$ 0.00
8 months ago

❣️🥰❤️❤️🥰😍😘😘😘

$ 0.00
8 months ago

What if you really receive this one of this days? OMG haha, if ever don't forget us pweaseeee 🥺🤣🤣. Anyways that's a good plan also. How I wish you really get this 1000 BCH 🥳

$ 0.01
8 months ago

Me too sis! Don’t worry, I won’t forget all my friends here. I’d be happy to be super generous with my tips 😍

$ 0.00
8 months ago

Yayyy, hope that really happen 😚

$ 0.00
8 months ago

These are good plans. With that amount, I can convert half of it into our local currency and start a business. I'll invest the remaining half so it could grow.

$ 0.01
8 months ago

If you have solid plan for a business then why not? I’d wait for BCH price to go higher before converting

$ 0.00
8 months ago

If I am given a chance to have that huge amount,I am going to use this for our house and I will left the 500bch and hodl it😁Ohw! How I wish it will happened.

$ 0.01
8 months ago

That would be so amazing 🥰

$ 0.00
8 months ago

I wish someone would really give you that much of money

$ 0.01
8 months ago

Me too! We can always dream ☺️

$ 0.00
8 months ago

I sure know what I would do with that kind of money and it would be to kick off my business that I've been cooking for sometime now .

$ 0.01
8 months ago

Sounds great! Hope you can start it anyway ☺️

$ 0.00
8 months ago

Oh, glad to see that spending plan for such a huge amount of money. Like you, I think I'll hodl it until it hit a desired amount or maybe, apply the dollar-cost-averaging method. Nonetheless, I hope that you can have such an amount someday. Who knows, right?

$ 0.02
8 months ago

That would be amazing i it happened. One can always dream 😍

$ 0.00
8 months ago

Nice, the debts are quite annoying if you aren't rich. While yes money can't buy happiness and I think I'll get by with momentary happiness from riding by brand new Jet Ski, Lol.

$ 0.01
8 months ago

Haha, my thoughts exactly - just wanna try not ever worrying about money and see how happy it can make me ;)

$ 0.01
8 months ago

Haha, I know what you mean.

$ 0.00
8 months ago