Why cryptocurrencies today are not cryptocurrencies at all.

For many people, maybe even most people, cryptocurrencies are something they invest in. But are currencies meant to be invested in? Do you use your currency USD, EUR, PHP, PKR, BDT or whatever to invest, or do you use it to buy and spend? That's actually what cryptocurrencies are for, that's what Bitcoin was designed for. So all those who "invest" in cryptos today are not buying cryptocurrencies, they are actually buying (crypto) stocks. But behind real stocks there are companies, behind (crypto) stocks there are only users.

The whole crypto world has degenerated into a manipulated stock market. Bitcoin Cash is unfortunately also affected by this. As we recently learned from the example of LUNA, these crypto (stock) markets can collapse in a very short time. There is only one way to turn crypto stocks into real cryptocurrencies. Millions or even billions of people need to own and, most importantly, use them, like BCH here at read.cash. Only mass adoption will protect us from a collapse like UST and LUNA. There is no other solution. If mass adoption fails, all cryptocurrencies will end up like UST and LUNA. BTC and ETH too. Yes also BTC and ETH will be sold by investors in no time.

Especially BTC is now dominated by institutional investors. When they realise they can get more returns elsewhere, they will sell BTC stock and the market may collapse like LUNA. Many are bothered by the fact that the price of BCH is falling. I keep writing that the current price has no meaning at all. The price of LUNA was very high recently and now it is zero. Without mass adoption, it can happen to any cryptocurrency including BTC and ETH.

But if a cryptocurrency is used by millions or even billions of people, if they purchase goods and services with it, if the cryptocurrency does not lie in the wallets of a few institutional investors as it does today, it becomes more robust and less susceptible to manipulation. In my view, there is only one cryptocurrency that has a chance of mass adoption. That is Bitcoin Cash. That's why we have to do everything we can to ensure that as many people as possible own and use Bitcoin Cash.