Robert Steinadler, 2 months ago
Bitcoin Cash (BCH) may have lost the fight against Bitcoin (BTC) and is perceived as an altcoin by most market participants and analysts rather than the true version of Bitcoin. There is still movement regarding its adoption and community.
What is Cashrain, and what are the plans of Kim Dotcom when it comes down to Bitcoin Cash?
Cashrain is the latest start-up that Dotcom presented in November. It is a marketing platform fueled by Bitcoin Cash. Users can sign-up and join a community and may be required to perform minor tasks on social media.
In return, they are rewarded with Bitcoin Cash that is rained down upon them through their community leaders. Cashrain promises influencers and companies to grow their audience and engagement rate by creating a marketplace for attention and potential followers. This idea is not brand new, but bringing Crypto Twitter, Bitcoin Cash, and Kim Dotcom to the table might turn Cashrain into a working platform.
Needless to say, the new venture would also fuel the Bitcoin Cash adoption. Community leaders have to buy BCH from the open market to use it for their social media growth. With Roger Ver lobbying for Bitcoin Cash in St. Kitts and Nevis and Kim Dotcom trying to create another use-case, BCH might have a chance to survive the bear market.
If you are hoping to catch some of the precious BCH you’ll have to hold your breath a little longer. So far, Cashrain distributes only $18,000 worth of Bitcoin Cash. Signups are limited and require an invitation from an already existing user.
Another factor that will come into play is fraud protection. It will be interesting to watch how Cashrain will prevent bots from signing up at the platform and acting as community members. Kim Dotcom has a reputation as an inventor of disruptive business models that develop quickly and successfully. So far, the entrepreneur had little luck with crypto.
He already faced critique from all sides since he chose BCH over BTC, but what is more important is that he failed in 2019 with an IEO for his K.im platform. That being said, not all ventures started by Dotcom turn into gold immediately. It remains to be seen if Cashrain will share a similar fate or if it marks a turning point in Dotcom's crypto career.
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