About three years ago, I wrote an article about Bitcoin Cash and the strategy of holding cryptocurrencies until they no longer represent promising investments. You can still read my post here: Buy and Hold a great Cryptocurrency until it is no longer great 🤓

Back then, Marc de Mesel was a key figure in the $BCH community, known for his significant financial contributions to platforms such as Read.cash and Noise.cash. These platforms flourished for a while, allowing users to earn $BCH by creating content and receiving tips.

But as I predicted at the time, the situation has changed significantly and $BCH's golden days are long gone.

The Impact of Marc de Mesel's Funding: When a Whale Leaves the Pond

Marc de Mesel's financial support was crucial to keeping Read.cash alive. With daily donations that sometimes reached as much as $1000, he helped the platform maintain an AI-based tipping system that rewarded users. For a while, it seemed like a perfect setup. But like many projects that rely heavily on a single benefactor, the cracks began to show as those funds dwindled.

In 2023, Read.cash experienced increasing difficulties maintaining operations, and today, it has become a mere shadow of its former self. Without the continuous influx of fresh $BCH from Marc De Mesel, the platform could not sustain itself as it once did.

Read.cash Went Down

The closure of Read.cash tells a larger story about how the cryptocurrency market has evolved. When $BCH first emerged, it was hailed as a faster, more scalable alternative to Bitcoin, and some hoped it could even take the crown from Bitcoin.

However, as the cryptocurrency market grew, competition from platforms like Ethereum 2.0, Binance Smart Chain, Cardano, and many others took center stage. $BCH struggled to keep up with the pace of innovation, especially with their failure to deliver a version of Smart $BCH. The main issue was the numerous scams on the Smart Bitcoin Cash Ecosystem: "Another day, another rug pull on SmartBCH"

Today, its market share is a fraction of what it once was, and the era when it was considered a serious competitor to Bitcoin feels like a far-distant memory.

Noise.cash: A short-lived echo of success

Noise.cash, the microblogging platform connected to the Read.cash ecosystem met an even worse fate as it has completely disappeared.

Originally, it offered users the opportunity to earn $BCH for their short content in a more social media-like environment. However, without consistent financial backing from Marc de Mesel, the platform found it increasingly difficult to maintain the same level of engagement and user rewards. Interest waned, and the platform, much like Read.cash, failed to adapt to changing conditions as the crypto community turned to other opportunities.

Bitcoin Cash: Losing its magic in a crowded market

When Bitcoin Cash launched, it positioned itself as a viable alternative to Bitcoin with lower transaction fees and faster processing times. However, the cryptocurrency space evolved faster than $BCH could adapt.

Newer smart contract platforms brought fresh ideas and the market rewarded those who could deliver real value. $BCH, meanwhile, lagged. Even at its peak, $BCH never managed to recapture the excitement of its early days. While many other cryptocurrencies are now hitting new all-time highs, $BCH is still well below its own 2017 peak, disappointing long-term holders.

My Conclusion

As I reflect on this faith of $BCH, my original advice remains just as relevant: invest in great cryptocurrencies and hold them until they're no longer great.

Read.cash's demise and $BCH's waning influence are a perfect example of this principle. If you hold on to a project long after it's lost its shine, you risk missing out on better opportunities.

I've learned that it pays to question the hype and be willing to adapt when the signs point elsewhere. For those who have stayed with $BCH wholeheartedly, it's been a rough time, but for those who moved on when the tide turned, the journey has been far more rewarding.

What about you? Are you still holding any $BCH?

You can also follow me on Publish0x for more and if you like, you can also follow me on X/Twitter and Medium.

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