Bitcoin Cash is a long-term investment.

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Avatar for francis105d1
1 year ago

Holding Bitcoin Cash must be a goal for almost everyone that understands that your local fiat money is not an excellent way to save up for the future, especially if you are trying to save for future use of your savings from 5 to 10 years. With such a long time, cash will be trash.

I think that people should at least try to get into 1 BCH if they don't have it because I believe that the world is about to find out the hard way why you need to have decentralized money, one that can't be printed at will by anyone, at least that is my opinion.

Bitcoin Cash is a peer-to-peer currency, and if everybody saves, you need a store of value; nope, you are keeping in Bitcoin Cash because you know that in the future as today, you will be able to use it as peer to peer. That's the reason you are saving your fiat today into BCH.

Use and replace will only be used if you have enough disposable income to afford to use some of your savings today to buy the things you need today. For example, I know I need a microphone for my videos, and I can afford to buy one today from my savings in BCH. Still, I don't believe it because I save some fiat and invest it into a microphone instead of moving what I already hold, but that's my personal view. Others will see buying a microphone as an investment into your own goals, so they would buy it right away and keep on going; in my case, I would wait.

I believe that you will have to think twice in the future before spending your savings. Even when Bitcoin Cash is a peer-to-peer currency that works, that doesn't mean you and the individual must be consuming it every time you have a chance. On the contrary, one of the things that cryptocurrencies allow us to do is to save money, knowing that your money won't be devalued by a third party you didn't elect.

That's the power of Bitcoin Cash. You can use it as a store of value, as a peer-to-peer currency, and a medium of exchange today and in the future since it is working today. You can be sure it will work as such in the end. Your money won't lose value in the long term because the asset will only gain more attention from others and gain more utility as time passes. Others will also need cheap, a reliable currency that works as money and even better programmable money.

Bitcoin Cash is money because it is cheap to use and secure as long as your private keys are insecure; BCH is the kind of money that is not just money. It is also a utility when people start to use smart contracts in BCH. People from other expensive networks noticed that we have the same utility, and cheaper people will dump their riches into BCH when they see that you can only not run smart contracts. Still, even more complex things people will maturely come. After all, people will move to that which gives you more for your buck.

Other altcoins like LTC will say that they can do better than BCH, but remember one powerful thing that not many realize just yet, Bitcoin Cash is the Bitcoin that works. Bitcoin Cash is the Bitcoin that you won't need any other altcoin because Bitcoin BCH works as described in the white paper and will continue to be like that for years to come. And we already know that by 2026 50TB hard drives will be here, so if transaction volume goes up in the BCH network, we can increase the block capacity to 64MB without compromising decentralization in the nodes.

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Avatar for francis105d1
1 year ago

Comments

From my own opinion BTC still on an overall upward trend. Still looks alright for now.

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1 year ago

Some are already saying that $20k is possible

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1 year ago