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Store of value and digital currency.

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Written by   176
7 months ago

The store of value narrative that Bitcoin Core supporters are using is nothing more than smoke and mirrors to fool new users into buying and holding Bitcoin BTC and also to provide a cover to justify the high transaction fees that Bitcoin has. The high transaction fees mean that you can't use Bitcoin for the purpose that was created in the first place.

Bitcoin maxis want to adopt the store of value narrative because they want people to not use Bitcoin for nothing more than to just speculate in the future price of the asset which was not its primary usage and at the same time, Bitcoin holders and believers want to pretend that their fork can still work as a peer to peer currency and those that point out that Bitcoin no longer is a peer to peer currency get ban or censor, the price for BTC should come down and will come down in the future because people will realize it doesn't work.

Bitcoin Core BTC no longer is Bitcoin and it is actually a fork of Bitcoin, the moment someone tells you that Bitcoin is a store of value or digital gold you should point out that right there they are describing a fork of Bitcoin because Bitcoin is and will always be a peer to peer to currency first and most and after that something else. If Bitcoin Core can't have cheap transactions it is also a fork because the real Bitcoin will always have a low transaction fee.

Bitcoin Cash is the real Bitcoin and not a fork and it has been the real Bitcoin since 2009, Bitcoin Cash was not born in 2017, Bitcoin Core was born and forked that year than that community decided that they no longer wanted to be a real and cheap peer to peer currency but instead, an expensive settlement network that would work better if no one uses it and so they called it digital gold or store of value so that new users will feel comfortable not spending it and as such not paying the high fees.

Bitcoin Cash has been producing new opportunities for people around the world and you don't have to be rich to use it because with as little as one penny you can have your account funded and running in no time without having to ask for permission from third-party service providers like Wallet of Satoshi or Strike. Bitcoin Cash is and it will continue to be the real Bitcoin that works as a peer to peer currency first and will become the next programmable money second and store of value because it does its first mission well and cheap that the other two functions will come as a result of the first.

Bitcoin Cash doesn't need any laws to be accepted as a peer-to-peer currency it just needs people willing to accept it to send and receive payments. Bitcoin Cash doesn't need that users sign up for custodian services either, you can have your own account without having to give up control of your own keys. In short Bitcoin Cash is money because it has a hard limit of 21 million coins, and you can use it peer to peer as long as both parties agree without the need for third parties.

Digital gold is inferior to digital currency because the digital gold market is at least 10 times smaller than cash, Bitcoin Cash as a peer-to-peer currency has a greater potential for growth if you count the market capitalization of both markets. As such Bitcoin Cash digital cash is at least 10 times better than a digital goal. And the store of value narrative or lie goes out the window the moment a competitor starts to eat up market capitalization.

Those that believe that store of value is the same as speculation will find out a nasty surprise because sooner or later the real peer-to-peer currency will take over the whole cryptocurrency market. The moment a coin starts to move towards position number one the store of value narrative will be totally useless. As long as Bitcoin Core reminds number one that narrative will continue to work but at the first sign of trouble, those promoting it will dump their holdings no questions ask.

Bitcoin Cash will have to prove itself that it is the real Bitcoin by processing more and more transactions than ETH, BTC, LTC all of them combine and the fees must be kept low in the BCH network and it must also not compromise the network decentralization, at 32MB for blocks that is not a problem so now it is just a matter of time before Bitcoin Cash starts to process 1m transactions or more a day.

I do believe that SmartBCH will bring the usage numbers to the Bitcoin Cash network and it will also prove that it can actually scale on-chain without compromises, Bitcoin Cash already proved that it can have as many transactions as Bitcoin Core now it just needs more usage from real users making transactions in the new DeFi platform that BCH will create and this will improve the whole network.

SmartBCH will also integrate a bridge between ETH and BCH which will mean that it will be easy for tokens to move from the ETH network to the BCH network and that will mean more transactions for the Bitcoin Cash network as well as more financial freedom for those who use the network. The SmartBCH bridge will also make it easier to move funds from one network into another and as such BCH could have a greater market capitalization because money will move in into our network.

Bitcoin Cash is a peer-to-peer currency first and it has the potential to become the best programmable money and the ultimate store of value as a result of being used first as currency and not the other way around. This means that people will save the currency that works today to be spent in the future and especially if in that future your money will work as well as it does today. Bitcoin Cash will be the peer-to-peer currency in the future as it is today.

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Written by   176
7 months ago
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7 months ago