Disaster if BCH Crash

[iamawriter]

Little did I know when I opened an account at a Site that pays in BCH what would be in store for me. I was doing well there until in the last few months the value of BCH is dwindled to a two digit low. The only consolation is that I cashed out as and when my earnings reached a certain level. But my friends out there held on and the are losers

What has been your experience?

[jasmine]

I don't know what sites you are talking about, however, you missed the whole point of cryptocurrency. Your BCH might have lost its fiat value but if you continue to hold your BCH, it might gain value in the future. If you have 0.1 BCH, and if based on the current price the value is $10 you will have always 0.1 BCH even when the price goes down and become $5 in face value. Cryptos are just like stocks.

[iamawriter]

As my ID suggests I am a writer and not an investor. I write and earn and that's it. I do not hold and my method is as soon as I reach a certain value I cash it out. It is OK for those who are there for investing the BCH they have earned. They may have to wait for several months for that. Good Luck to them

[jasmine]

You missed my whole point. Even though cryptos were introduced as a payment form, over the years cryptos have evolved as digital assets. They gain and lose value just like stocks. If you are using it as a payment form, you might lose money while cashing out, however, it is also possible that you might gain profits as the price fluctuates frequently.

[iamawriter]

I know what you are saying but it is about me I am talking about. When I opened my account there I did not know it was a place where people invest. I have writing sites like this one for example where we earn and that's it. Similarly the place where people write and wait for the value to move up I wait for my earnings to reach a particular level and then cash out I have no interest in investing whatsoever.

The BCH value has plummeted from 1000 to 100 and those who have invested will have to wait for a long time for it to get back.

[jasmine]

Recently, Vitalik Buterin, co-creator of Ethereum said, BCH is a failed project. I think he has some reasons. While a lot of cryptos have lost their value, BCH despite being the hard fork of Bitcoin never reached anywhere near Bitcoin. Volatility is the nature of crypto. There is no one to control crypto, therefore, the price fluctuates. The best way to avoid loss is by waiting until it gains value.