As the bear market continues, I sense that some may be feeling down about it. In Chinese culture, we have a saying that goes, “In Crisis, lies Opportunity”. Bitcoin Cash has been around for 1 year now and if you have been closely monitoring the BCH space, you would notice a sudden explosion of innovation and growing ecosystem. And I would argue that all Bitcoin Cash investors are all early adopters and in crisis, lies some of the biggest opportunities in the space.
The first mover is usually NOT the winner. Remember Altavista the early search engine? It’s all Google now. Remember Friender the early social network? It’s all Facebook now. Remember Nokia phones? It has been overrun by Apple/Samsung now. BTC is a dead man walking dinosaur coin, most people don’t realize that yet. BTC is slow, unreliable, high fees, doesn't scale, centralized by a single core development entity and uses Lightning Network that caused users to lose their funds. Similarly, people will not remember BTC next time and I would argue the likely winner of the cryptocurrency space will be something better and my bet is on Bitcoin Cash.
And here’s my reasons for that.
1) Bitcoin Cash has some of the most brilliant scientific people in it. They run experiments and use empirical evidence to identify bottlenecks in the protocol and how best to scale it as permissionless sound money for the entire world. I think pretty much everyone in Bitcoin Cash agrees that the goal is to scale Bitcoin Cash to be usable as cash for the entire world. And we are working hard to make that happen.
2) Explosion of Tokens is coming to Bitcoin Cash. This means lots of different innovative applications coming on top of Bitcoin Cash in the coming months. So the most common question is, why not do tokens on Ethereum? When CryptoKitties first came out, it choked the entire Ethereum network so there are still some existing problems there. Bitcoin Cash is ready.
3) Privacy is coming to Bitcoin Cash with CashShuffle. Privacy is good even for people who doesn’t need privacy. I believe this will help real people in certain oppressed countries such as Venezuela where privacy is almost related to safety. In fact, I would argue privacy is a matter of life and death in some countries.
4) The Bitcoin Cash community is made up of some of the most amazing wonderful people I know. And this would be a key reason why Bitcoin Cash will be successful. Feel free to join one of our group at http://ambassador.cash/
5) People in Bitcoin Cash are working towards real utility and demand for it, instead of just “hodling”. We are building up the ecosystem to make things happen and not just “hodling” waiting for things to happen. The cryptocurrency space right now is equivalent to 1990s of the Internet early period, and just like that period, only the ones with fundamental values will survive. Remember, even Amazon lost 95% of its value during the dotcom crisis. Price does not equate to value. A fool knows the price of everything, and the value of nothing.
Those are some of the reasons off the top of my head on why I am so optimistic, positive and feeling great about Bitcoin Cash despite the bear market. And above all, there is a sense of purpose for people in Bitcoin Cash community because we know our work impact real lives today and for generations to come. You can read more at https://localbitcoincash.org/news/22/Why_do_we_urgently_need_a_decentralized_global_peer_to_peer_cash_system
Let’s together change the world and make it a better place, one Bitcoin Cash at a time.