I'm collecting my tips, and then what?
I have noticed that the market could be entering into a long term bearish period if Bitcoin can't sustain the $40k levels, unfortunately with the current market conditions, if Bitcoin dumps altcoins, will do so too in a more dramatic way, and if indeed we are entering or already are in a bear market that could mean that we as holders or long term traders must choose carefully where to park our money because in the next bull run we want to hold the right assets. Many of the altcoins that were good in the previous bull run are no longer in the top 100 on Coinmarketcap.
Whatever token or altcoin you and I choose, we must ensure it has fundamentals so that your money survives the bear market and can thrive in the next bull market. Eventually, prices will increase once the market gets out of the gutter, and you must make sure you don't make the same mistake that many did in 2017 by holding useless tokens that didn't have a future, and that we're all just hype, pump and dumps projects, including ICOs.
Bitcoin Cash now has ICOs since it is an EVM sidechain, and that means many of the pump and dumps occurring in the past with Ethereum are made new with Bitcoin Cash, case and point, the fact that SmartBCH has many dexes. You may think that having many dexes is a good thing because it gives you freedom of choice that will be true and fine if not for the simple fact that each of those dexes has its token, and it is trying to get you to park your money with them and their protocol.
It will be pure competition if money is not involved, but the truth is you are holding and promoting DeFi because you and I want to make money. As such, the competition will end with many useless projects just going down and down and never coming back to previous levels. And the same issue is happening with memes and tokens with very little to no utility whatsoever.
I am using my tips to pay for things that I need, like making expensive RSK transactions without putting money out of my pocket, at least not until I have learned everything there is to know about Bitcoin sidechain RSK. Once aI am done learning and experimenting, I will start to save up my earnings and look to invest my tips into SmartBCH and invest in tokens that I believe may have a future.
So far, I am only considering two tokens Mist and Eben, even when those tokens have an unlimited supply. Still, I will continue to observe them and make my conclusion once a few more months have passed and I have seen their performance, I wouldn't disqualify the other dexes tokens out of my list, but I wouldn't put a single penny until I see a better picture of them. The more dexes there are, the more studying you will choose your preferred token. And we have the other problem that none of the dexes in SmartBCH offer a full suite of tools or services. They are only offering bare bone tools; you can't margin trade yet nor lend and borrow, which means you have to wait until those come out to realize which one is the best-decentralized exchange out of all of them.
I will continue to observe the SmartBCH protocol and projects that the sidechain develops. If I see an opportunity, I will invest at least my tips from noise and read cash into a project if at some point I see opportunity and a clear advantage over one dex and the others. I will leave my money park on Sovryn SOV on Smarter Bitcoin for the next six months unless something changes and I must move my money back into SmartBCH.
Another thing that I think I will adopt is the booster option here on read cash; I guess the final destination will be not just to collect tips but to use funds to do something useful that could be considered yet another investment, and I am pretty promoting my articles is an investment on itself, just like paying for transaction fees on RSK, by to way having to pay for transaction fees with Bitcoin Cash to pay for Bitcoin and DeFi sidechain should tell you something about Bitcoin Cash on itself.
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I am holding and staking DeFi token Sovryn and looking forward to SmartBCH in the future too.
Why am I writing about Bitcoin BTC DeFi, RSK, and Sovryn? Instead of Bitcoin Cash and SmartBCH.
Do not buy the Bitcoin DeFi Sovryn token before reading this warning.
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