I know a lot of people have been worried about the XEC price, which has been bearish since it peaked in early September. I’m sure it’s been a painful couple of months for those who bought the top, or near the top. And while I could sit here and lecture you on how you never go all in, or why you should always dollar cost average, the point of this article isn’t to offer you unsolicited advice.
What I do want to do is share my reasons for why I haven’t sold any of my XEC. As always, you’re obviously free to ignore everything I say. You can think I’m an idiot, or a liar, or even worse, an idealist, but if you’re at all curious why I still continue to hold my coins, feel free to keep reading.
I know that for the past couple of months the price has been disappointing, if not downright boring.
You may not want to hear this but the truth is that prices can always go lower. Anyone who swears to you that the price of something can’t go lower doesn’t remember when a barrel of oil was worth negative forty dollars.
As someone who prides himself in being honest, I can’t say I know what the XEC price is going to do in the short term, but what I can tell you is that I believe in this project long term. I can even imagine that one day those who sell their eCash at these prices might regret it as much as this guy regrets selling his Bitcoin:
Of course I can’t promise anything. There are no guarantees in crypto.
I know the only question most of you want me to answer is, when lambo? But unfortunately, I can’t tell you that.
But here’s what I can tell you. I believe in the team at Bitcoin ABC. I belive they are continuing to work diligently on integrating Avalanche post-consensus on eCash and that in a recent interview, Amaury himself said he expected the first phase of Avalanche to be finished by the end of the year (and that was if he was being pessimistic). So I’m hopeful that they’re getting close.
With that said, I honestly don’t know how the market will react even when it is finally done. After all, this project is still flying mostly under the radar. But it’s also possible that the news will help gain the project plenty of well-deserved attention. Because I believe the Avalanche enhancement is a much bigger deal than most people realize. It’s effectively taking Bitcoin to the next level and bringing it a significant step closer to becoming world money. Whether the world notices or not is the question.
Something else you may have noticed is that XEC is not yet available to purchase on any US exchanges. But I’m confident that day will come. Whether that pumps the price or not is again anybody’s guess, but I know what I think, and I’ve placed my bets accordingly.
Then of course there’s the upcoming addition of staking. No Bitcoin fork has ever offered staking rewards, which is probably why I never tried to run my own node. But in anticipation of earning staking rewards by running an eCash node, I recently learned how to properly set one up (I’ll try to write an article about it in the near future).
I did so because I want to be ready when staking begins. Not only to support the network but to get paid in exchange for doing so.
No details have yet been released, but I’m going to guess that those who hold a significant amount of coins will want to contribute to the network. Not only to earn more XEC, but in order to help it become the best network crypto has ever seen and make their coins even more valuable in the process.
Because as long as there are enough honest actors, the eCash network will offer reliable instant confirmations, become impossible to be 51% attacked, and will even pay you to run a node. This could also drastically reduce the supply because those who will stake their coins are less likely to sell them on the open market because unlike miners they won’t have significant costs they have to cover.
It’s also true that currently no one talks about eCash, at least none of the big crypto twitter accounts. You never see it mentioned on major media outlets, or by any of the big YouTubers. And while you may think this is exactly what’s the matter with XEC, I think this is exactly what makes XEC such a huge opportunity.
What do you think will happen when some of these “influencers” do start paying attention? What happens when eCash proves itself to be a superior technology? Or when the supply is drastically reduced as a result of staking?
That’s why I didn’t sell.
You can have your dog coins, but I’m placing my bet on experienced engineers who know more about Bitcoin than Elon ever will. On a network that is focused on solving the right problems, has the right incentives, and a robust and detailed roadmap.
I didn’t sell my XEC because of all of the above but also because I want to be a part of the eCash journey, and document it, and help as many people as I can along the way.
Maybe that makes me a dreamer, but I’m also guessing I’m not the only one.