It's really heartbreaking. Bitcoin Cash is #27 in Coinmarketcap.
I really believe that concept of p2p electronic cash and hoped with upcoming high inflation Bitcoin Cash will shine and make a difference.
But with repeating all-time lows against Bitcoin and Ethereum people lose their attention and sees Bitcoin Cash as a failure like Vitalik.
https://tradingview.com/chart/?symbol=ETHUSD%2FBCHUSD
https://tradingview.com/chart/?symbol=BTCUSD%2FBCHUSD
Ok, some friends at this sub says: Bitcoin Cash works flawless, smartbch promises a lot, bch is used for transactions who cares the price. Price is important for the ones who wants to get rich faster. etc...
I do not agree with those, price is important as hell. Price (with fair distribution of course) is a partial indicator of a coin's adoption, recognition. People defend their ideas with their money.
At that point we have to admit that people do not share the vision of Bitcoin Cash. We need to UNDERSTAND the people. Not criticize. Not celebrate Bitcoin's fall or other coins' falls.
First of all I haven't sold my BCH's from split in 2017 and buy more at 2018, 2020 and 2021. Hold roughly 100 BCH's. It is more than 90% of my savings. Tell all my friends about Bitcoin Cash. Few of them bought BCH with another cryptos. They told me that I am the only one recommending BCH. They read articles like it was fake Bitcoin (excellent disinformation of Blockstream), untrustworthy chain and said that they do not have any interest of buying things with crypto so they do not interest with low fees, see crypto as an investment. None of them have a hardware wallet. I still recommended them to hold BCH because with mass adoption Bitcoin would fail to meet transaction need. You know "LN in 18 months" after all. 100$ fees would push people from Bitcoin. Eventually with high fees at May 2021 people's attraction to BCH was impressive. Unfortunately the attraction depending fail of Bitcoin does not last long.
By the way please stop using the argument that "we do not hold coins we use it constantly for buying things". There is a concept called velocity of circulation. You can not use a money without holding it. If you do not hold it, someone else should hold it. If noone holds it then value of money will dramatically lose. All money are good or bad designed to be a store of value. Some are worse store of values, that's all.
So we have to determine the situation. Bitcoin Cash offers a functional Bitcoin to market (with smartbch more than that). But the problem is Bitcoin has a higher brand value and a better distribution (wondering current situation of Bitmain holdings of BCH). So Bitcoin attracts institutional money much more than Bitcoin Cash. And that money provides Bitcoin a stable growth with less volatility. That attracts people and feeds the cycle. On the other hand people do not seek functionality for now. We all know that functionality will eventually be needed. But Bitcoin Cash should be in the game when time come.
By the way some devious people with better insight saw the functionality need and chose to manipulate the market. Trying to create a Bitcoin Cash from Dogecoin is an excellent and profitable idea. Congrats to Elon. In an alternate timeline with his contribution Bitcoin Cash would flip Ethereum and could challenge Bitcoin easily. Imagine a flawlessly working coin, a hard money and the richest man in the world promotes it against a not functioning expensive blockchain offering not to use blockchain.
Anyway Bitcoin Cash needs recognition from the RICH. Not manipulative ones. Some people with insight needs to see the hard money and store of value in one product. I remember Pompliano's interview with Roger. Roger said that Bitcoin Cash has the scaling solution and that would bring the money. Pomp said that maybe the money would bring the scaling solution to Bitcoin. People do not want to lose money so the institutional money would try anything to secure their investment. I do not think lightning is the way but if I had hundreds of millions in Bitcoin, I would pay millions to see a working solution. And generally money solve problems in time. So we have limited time.
Hate the vision of Saylor but Bitcoin Cash needs motivated institutional money like Saylor. Bitcoin Cash is electronic money and a store of value. I see posts criticizing Bitcoin as a store of value. Please stop doing that. Bitcoin Cash is also a store of value and performs far worse than Bitcoin in market fall's. This kind of posts look ridiculous. Don't get me wrong but Bitcoin Cash promotion should be more than "Bitcoin is bad".
Bitcoin Cash needs to be accepted in retail. Inflation is there and Bitcoin Cash as a hard money needs to restore trust. International corps like Alibaba, Amazon, Starbucks etc.. Online services. Maybe a professional foundation should be founded and funded for this or powerful individuals should fight for that kind of recognition. Kim Dotcom and Roger are doing remarkable things. But we need more. You could have a perfect product but it won't be enough unless you attract powerful people.
And still can't accept the metrics against Litecoin. Tweets by day, transaction count, marketcap. Bitcoin Cash has to dominate the low fee, proof-of-work coin market.
All I need to say progress starts with acceptance. We have to accept that things has not gone well for 4,5 years. And that's not because of evil Bitcoin maximalists only. Vitalik had a point, two unnecessary forks weakens the Cash concept. But we need to promote Bitcoin Cash to rich and institutions. We can not expect people to find BCH like Paypal. We are the underdog.
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