Holding Bitcoin Cash like a prepper for future events like the Venezuela's situation.

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Avatar for francis105d1
2 years ago

Preppers prepare for eventualities, whereas preparing can differ between saving your life or perishing. The logic behind buying Bitcoin Cash is to use it as a peer-to-peer currency or store of value, hoping that the price will rise from the price you purchased it from.

If you have a store of value that can't take a surge in usage and as such, it can cost you your worth because you won't be able to use your money at will, at the moment of your most need, then it isn't a so call the store of value. Suppose you saved up 0.1 BTC and kept it in case of an emergency, which eventually only happens years from now. Still, because of the way BTC works, everyone and you are trying to use your assets so much so that your fees go to 0.09 BTC than at that point, you will have to wait or take your loss, but if you were making a plan with your entire investment that will mean that your store of value no longer is and it was just a bad investment.

Covid19 has taught us that when it comes to a national emergency, people get crazy, and the first things to go are essentials; essentials get more expensive if available. A crisis like Venezuela and Argentina will be a national emergency that will mean that those that hold Bitcoin will try to use their funds to buy either goods or services, so if at that moment, 1MB blocks will get packed to the top and fees will be as high as ETH in satoshis term, what I am saying is in hyperinflation of the US Dollar and the world's fiat currencies, transaction fees in Bitcoin Core will be from 0.001 to 0.2 at times.

The rich buying today don't care because they are purchasing enough Bitcoin. Even if fees reach that level, they will sell into whatever else has a better opportunity. Still, these people tell poor people to buy Bitcoin Core instead of Bitcoin Cash.

So if you buy Bitcoin Cash because you see these issues in the future is like saving for the future as a prepper even if you don't use your funds today and don't use the peer-to-peer features but instead the store of value features that naturally exist in BCH.

Buying 0.1 BTC means you need $5000, so that means you can lose it all because you will be dead if at the moment that you need to sell your BTC for something else, you can't because you don't have enough funds for the transaction fee, ETH is already having costs of 0.1 ETH. Those buying BTC today know that those issues exist because they plan on getting out on time, even if problems are apparent, or think that even if fees hit that high, they will be able to get most of their investment.

In the case of Bitcoin Cash, you hold and keep on saving, and you know that your funds will be able on-demand in the future. Even if people start to flee inflation like in Venezuela, Argentina, and lately Nigeria, to move their money into Bitcoin Cash and use it as a peer-to-peer currency, your funds will be safe and even have more utility in an ever-changing world.

Inflation is the fire by trial that will cement Bitcoin Cash as the world peer to peer currency. And in a hyperinflation scenario, you will need to be prepared beforehand with the most efficient form of payment, and I believe that form will be BCH. At least that is my speculation, because the worst time to hold custodian accounts, the case for LN, will be when you need your money the most. After all, your money could be stolen, and in hyperinflation, you can bet those honest today may not be so much in the future in ruins.


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2 years ago

Comments

I'd rather have money invested in bitcoincash than bitcoin. With this recent rise, things are looking up.

Thanks for sponsoring me yesterday, I really appreciate it 🙏

$ 0.02
2 years ago

Sure thing.

$ 0.00
2 years ago

This morning when I got notification from my coinbase wallet that BTC is up, it made me happy for the day. Hold BCH and earn more in near future. Good luck

$ 0.01
2 years ago

Same to you too.

$ 0.00
2 years ago

Cryptocurency is a kind of sweet drugs, i have seen both its good and bad times, but never denied from happiness when we see profit.. I just made a transaction of 244 dollars transaction to buy BCH. Hopping for a good time again..

$ 0.01
2 years ago

Eventually, the bear market will be over, and green bars will appear everywhere. But it does sure hurt saying unrealized gains of $5000.

$ 0.00
2 years ago

Hoping so

$ 0.00
2 years ago

One of the best for us to get motivational word , you really needed at that time when Everything not going well and it's need to stop ourselves for selling and COVID-19 still in our country emergency and lockdown still We are face same situation in my country and people are still Soo worried how to manage everything , I'm happy to found a great platform noise.cash and after read.cash . Noise.cash help me in My financial responsibility every day and I'm thankful to also Stay happy stay safe always take care of yourself

$ 0.02
2 years ago

I believe hyperinflation of the dollar will be a worldwide event that will affect everyone around the world and I think that it will be like Venezuela but globally, at least that is the message I am trying to convey in my article.

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2 years ago