BCH now transfers more USD value in a day than ETH, XRP, Zcash, XMR and LTC. The only chain that transfers more value in USD terms is BTC. As more and more users adopt BCH for e-commerce, it is only a matter of time before BCH has more transactions and more USD transferred in a day. Once we get past BTC then we need to take care of Visa and Mastercard and put the "Bitcoin can't scale to buy a coffee on-chain" argument to rest. #BitcoinCash
7 comments
I fear that very few of these transactions are e-commerce transactions.
Why fear that? Do you think most transactions are just spam?
I don't think it's spam, I think these big amounts are transactions of one person between exchanges. They are not p2p transactions between two people.
Even if they are from a person to exchange, they are still transactions of value transfer but I agree it is not p2p. Even if BCH achieves global currency status, there will be a good chunk of money used for speculative reasons. With percent fiat system, pure p2p transactions I make are only a small percent. Most of the transactions are me paying to a business for a product or service
I really see a huge opportunity in the SmartBCH sidechain. Normal products and services can usually be paid for conveniently in fiat, so many people ask themselves, should I really spend my precious BCH when I can spend fiat? With the apps on SmartBCH, that changes. You can only use them if you own BCH. You have to spend BCH there if you want to use them.
Yes. I agree. Having Smart Bitcoin Cash is like having a whole ecosystem built on top of BCH.
Yes, this is really a huge opportunity. That's why ETH and BNB are growing in price so much now. More and more applications will be run in the sidechain in the future. There is no way back. This is the future and this will grow. In the long term, more and more processes will be digitised. The demand for the coin, which is necessary for using the app, will increase. This is not speculation, as with BTC, that relies on me finding someone to sell my BTC for at a higher price in fiat in the future. At some point BTC price will reach a level for which no one wants to buy it anymore, then the descent begins, maybe even to zero, because the coin has no use. There is no ecosystem for it and there never will be. I just hope it doesn't happen so fast because BCH needs to build an ecosystem first, otherwise BTC will drag BCH into the abyss.