The thing about crypto - BCH

How many BCH (Bitcoincash) do you own? Most of you will say not even one and quickly add to it BCH is the crypto to use, not to invest in and to keep in the wallet. When someone starts with this phrase everyone starts saying it which feels a bit odd to me.
Do we really think BCH is the key to our financial problem or are we copy-pasting the message -by now the BCH-slogan- because we feel obliged to say so? All heads need to be turned in the same direction right after all this is the place where we can receive that precious BCH for free. If someone invests in us, rewards us some loyalty is the right thing to do. Besides that if BCH isn't promoted, not more people invest in Bitcoin cash no one will benefit from it.
Imagine what happens if we all give up on BCH today. Those who invested in it sell it or swap it for another crypto. The trust will be gone. There's plenty of choice by the way. All (big) investors who sold their BCH could buy ETH or HOT or some other crypto with an attractive shortcut like ADA (sounds like a girl's name) or they massively invest in Monero because this crypto is what cryptocurrencies should be about: anonymously which can be very important in the nearest future. The great reset is a fact. The plans are unfolding.

Worldwide countries are bankrupt because governments spend money they don't have, banks use 90% of people their bank accounts and talk many into loans they can't afford to pay off. The money we use became worthless. Officially it can not even be called money because if it comes to the definition of money -six rules are set for what is allowed to be called money- the euro, USA dollar or any other currency doesn't follow these six rules. Printing extra money is not the answer to a financial crisis. A crisis governments worldwide created. I dare to say it is done on purpose.
If it comes to finances every 30-40 years a country has a new crisis, a new coin, financial system, governments and banks are always bankrupt, bankrupt and corrupt.

BCH can be a great solution but isn't the only one. To be honest I always wondered why so many currencies exist. The idea behind the invention of Bitcoin (BTC) was already gone as more crypto lovers started investing and using it three to four years ago. If you invest in or use cryptocurrencies you can be traced, you are not anonymous, you do leave a footprint, pay a fee and indeed can wait for it for days. Your track is saved on the blockchain forever. The kind of forever governments, dictators who love the Chinese social credit system are interested in. The system we all are heading to and said we don't want.

I wish I could use my BCH directly for my groceries, to pay my rent and gas and electricity bill but I can't. In my country, hardly anyone accepts payments in cryptocurrencies. Not in Bitcoin Cash, Bitcoin, Ethereum or Monero. If shops, entrepreneurs don't accept it it's simple: BCH is not for spending, is not suitable to use in every country and personally I don't know how to change that.
Several people with a business I asked to make it possible to pay in Bitcoin cash but to most, it's too difficult -or complicated- to learn that new payment method. I thought all those lockdowns and extra time would be used well by the present entrepreneurs and the mass to invest in a new business model that included new payment methods after all that's what we are heading to anyway.
Although the Netherlands is called a western country, modern we are limited if it comes to our payments.
The most wanted is the debit card and we are forced into online payments. Instead of a debit card, we can pay with our phone -switch NFC on- or with the chip implanted in our hand by a tattoo shop (strange any doctor, vet or idiot can plant a chip). The wallet with cash changed into one single plastic card and next smartphone and chip.

If you no longer see, touch currency you lose the value of it, will always be short and it doesn't matter with what you are paying euro, dollar, florin or litecoin you will always be short and in debt. We are so used to pay with numbers, numbers before or behind the comma. With cryptocurrencies, we lose track. How much Bitcoin cash do I pay for a bread 0.0045 or 0.00045 or? Most people can hardly count and if I need bread I pay whatever is asked.

"I don't understand the benefit of paying with Bitcoin cash," someone said to me lately, "nothing loses its value so fast as cryptocurrencies."

I can't deny that. It's true. The value of each cryptocurrency is measured in dollars or euros or whatever currency is used in the country where you live. Today 1 BCH can be 600 euros and next day 300 euros only. If you don't need to use it to eat it doesn't matter otherwise the price of bread increased by 50%. How does that work for you and me?

It works if you get it for free but not if you need to buy it first. Buying already means paying a fee.
If I like to pay with cryptocurrencies I need to search for entrepreneurs online willing to accept it. They can not easily be found. They do not have a sign on their door, frequently they do not even mention it on their website. Another disadvantage of paying with cryptocurrencies in the Netherlands is only very expensive items or services -like a holiday of thousands of euros- can be paid with it besides marijuana.

The situation in real life -if it comes to payments- is like this:
Just the bank debit card, NFC, chip in your hand or online payments in euros are accepted. No credit cards, cheques, cryptocurrencies. Soon no cash either. The beggars on the street will need a bank account and pin and chip reader or better ask for food, gloves, a shirt or something else they need. With us each debit card reader is different and most shops cannot even read a foreign card no matter if maestro is printed on it (Visa, MasterCard is seldom accepted).

If you like to invest in cryptocurrencies you need a third person and be registered. Name, ID, address, bank account, social security number, photo, where the money comes from you invest and so on. If you give all your personal information it may be clear there is no anonymity. You are registered, they know you, can find you, watch you and check you out. Not only you as a person but they track your payments too and if so they do not give you your 'money'. This happened to me several times which means you do not receive it fast unless you call several hours till days fast.

Investing in cryptocurrencies sounds interesting but isn't easy either is spending it. Most of us need a third party to change the investments into a currency we can use. We do not buy our groceries with Bitcoin cash but a different currency and lost our anonymity as soon as we needed to give our data to a stranger we know nothing about. Someone we need and who shares this info with banks, the government, the taxes department, the police or anyone who asks for it.

It's great to invest but I admit that I'm worried. Worried because so many of us count on it because it helps us through the cold Winters in our life. We can afford to eat, buy a little extra and some can even buy a house with it. That's great but what will happen if our entire life depends on electricity and they shut us down, steal from or close down all those accounts? Will there be a way to survive without electricity, online payments and digital currencies? Is there a personal plan B? Will we go back to paying with bricks, shells use ancient trading systems or go for a skill/task for a meal?

I hope there will be a future for cryptocurrencies and all the benefits it once started with will be back including easier and more ways to adapt and use them. I'm sure this is possible since Monero does it and the governments are going to use that easier way to force the nation into their new payment system. A system where your account will be closed if you are a shopaholic, doctor, scientist, offend people, bought too much plastic, meat, medication, didn't keep social distance, are jobless, vulnerable, share 'crazy' ideas about one god, democracy, decentralisation, show interest in history, watch horror or sf-films, listen to music, drink lemonade or coffee, eat candies or refuse to be chipped.

To answer my question: At the moment I own three. I just need to figure out how it can benefit me or my children in the -nearest- future. I might set this as a goal for early 2022. The clock ticks.

#kittywu #bch #cryptocurrency #investing #spending