My long-term vision for BCH.

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Avatar for francis105d1
1 year ago

Just before 2015, I recommended Bitcoin to my friends and family. Many heard my advice others just passed. Still, I was recommending BTC because I knew the world would need a decentralized peer-to-peer currency in the future and because BTC works without any central authority to be a currency. I also knew that a 21 million cap supply would mean only 0.003 would be available for each human being if everyone went and bought Bitcoin as their preferred currency.

But after 2017, everything changed, and Bitcoin is no longer Bitcoin. I can't recommend it just like before because it must be cheap to use for BTC to be a currency. I know that eventually, those fees will be a massive problem for those that hold Bitcoin at this moment. People who don't have enough money in their wallets to pay the fees will essentially be burning money in the future, or their money will become worthless if costs don't come down because I understand what those fees will mean. I can't tell my friend to buy BTC right now because of the reasons mentioned above and because of the following; in the past, I told people because I knew the price tag to buy was cheap. Bitcoin below $1000 was good advice.

And I can't recommend it as a store of value either because people who are already suffering inflation and hyperinflation can't afford the high transaction fees. Eventually, inflation will be a problem in the place where I live. As inflation goes up and costs on BTC, your money will melt away if you leave in Bitcoin BTC, but on the other hand, in Bitcoin Cash, your transactions will be cheap, and eventually, the money will reflect that. Bitcoin Cash will increase in price because people will realize they can trust it when they need it to work as a currency and be a store of value. Fees will always be much cheaper on BCH than BTC. Bitcoin Cash is a store of value because, in places where high inflation is already running, you can trust BCH to be very cheap to use, and it doesn't matter if you are rich or poor.

Bitcoin Core is just a speculation asset because it doesn't work as a store of value for people who live in places like Venezuela or Zimbabwe. Eventually, that speculation will die out once people realize that BTC is useless if you keep the high transaction fees going higher and ever. Because of that, I believe that Bitcoin Cash will be recognized as the real Bitcoin by everyone, rich or poor, and as such, the price will go up because many will try to hold some of their fiats into BCH is only 0.003 BCH for each human.

Not to mention that inflation and hyperinflation are a real threat to everyone around the world, and if inflation hits the place where I live, I want to make sure that I have money that has a limited supply and that is cheap to use. Because of that, I hold Bitcoin Cash for the long term. Bitcoin Cash could never be seen as the real Bitcoin, but in my mind, it is, and that's all that matters to me, I vote with my money, so I choose Bitcoin Cash as my long-term holdings.

I am not saying you should only hold Bitcoin Cash; I am telling you to set aside some Bitcoin Cash for the future if Bitcoin BTC fees go out of proportion and people decide that enough is enough. Still, you should also have your own short and medium-term altcoins to hold, and you can also hold BTC, but you should also research if a fee wouldn't be a problem. I guess I am saying to do your research before buying any cryptocurrency.

Conclusion.

My long-term vision for Bitcoin Cash is that it becomes the real Bitcoin or for everyone to recognize it as the real Bitcoin.

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1 year ago

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Your long term vision for Bitcoin Cash is awesome and hope that happens too. If we talk about the fees then there can be change in future for transaction rates but if it remains same then it will be great for us. Holding this crypto can bring a huge good luck in future for holders.

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