How to introduce Bitcoin Cash in Pakistan

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Avatar for AbdullahSattar
3 years ago

What is Bitcoin Cash?

Bitcoin cash is a cryptocurrency created in August 2017, from a fork of Bitcoin.1 Bitcoin Cash increased the size of blocks, allowing more transactions to be processed and improving scalability.

The cryptocurrency underwent another fork in November 2018 and split into Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision)

 Bitcoin Cash is referred to as Bitcoin Cash because it uses the original Bitcoin Cash client. 

Bitcoin Cash is much better then other cryptocurrency but in Pakistan people don't understand the key point behind the bitcoin cash and how it works. To solve this problem I am creating communities in Pakistan in many cities such as Karachi Lahore and Islamabad so that people can understand the benefits of bitcoin cash and how it can change there life simply i have observed many people around me how are getting benefit from bitcoin cash and its very simple. Bitcoin cash makes life very simple many people around the world are able to do online shopping and payments through Bitcoin cash.

Concerns About Bitcoin Cash

Bitcoin Cash promised several improvements over its predecessor.13 But it has yet to deliver on those promises.

The most important one is regarding block size. The average size of blocks mined on Bitcoin Cash’s blockchain is much smaller than those on Bitcoin’s blockchain.14 The smaller block size means that its main thesis of enabling more transactions through larger blocks is yet to be tested technically. Transaction fees for bitcoin have also dropped significantly, making it a viable competitor to bitcoin cash for daily use.  

Other cryptocurrencies aspiring to similar ambitions of becoming a medium for daily transactions have added another wrinkle to Bitcoin Cash’s original ambitions. They have staked out projects and partnerships with organizations and governments, at home and abroad. For example, Litecoin announced partnerships with event organizers and professional associations, and others, such as Dash, claim to have already gained traction in troubled economies like Venezuela, although such claims are disputed.15   

While its split from Bitcoin was fairly high-profile, Bitcoin Cash is mostly unknown outside the crypto community and is yet to make major announcements about adoption. Based on transaction levels on the blockchain, Bitcoin still has a sizeable lead over its competition.

The second fork on Bitcoin Cash’s blockchain also highlights problems with managing its developer pool. That a sizeable section of the pool thought that Bitcoin cash was diluting its original vision is troubling because it opens the door to further splits in the future. Smart contracts are an essential feature of all cryptocurrencies. However, it remains to be seen whether Bitcoin Cash pivots to become a platform for incorporating smart contracts for transactions or simply for payment systems. 

Bitcoin Cash also does not have a clearly-defined governance protocol. While other cryptocurrencies, such as Dash and VeChain, have innovated and outlined detailed governance protocols that assign voting rights, the development, and design of Bitcoin Cash seem to be centralized with its development teams.16

 As such, it is unclear with investors without substantial holdings of the cryptocurrency have voting rights or a say in the cryptocurrency's future direction.

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Avatar for AbdullahSattar
3 years ago

Comments

Plagiarism. Very lazy too. Find a job at manual labor. You are not worth even as a cheater.

Source he plagiarised. https://www.investopedia.com/terms/b/bitcoin-cash.asp

I hope you are ashamed of what you did. If I was the original author I would seek legal action against you.

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3 years ago

i am not a god writter i am taking help online

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3 years ago

the way that bitcoin cash is gaining the confidence of peoples from all over the world than any other cryptocurrency i think the peoples of pakistan will also realize its credibility and importance..

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3 years ago

Well I am not from Pakistan but I think that you will just have to explain to people what Bitcoin Cash is and how people are making money with it and why they should accept for goods and services as well. When it comes to price the best way to explain it is that it is like stocks they come down and up in price, but I you hold long enough you may profit. most profits in the stock market comes from investor that buy and wait. In terms of peer to peer currency sending them a few pennies may explain better than many words. That is called on boarding, where you send them some money and in return they send some of that free money to another person, that works best if you already have 2 friends who don't know what BCH is and how it works. But you must also explain to them that if market comes down so their value, and if they want fiat value they must exchange in their local exchanges.

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3 years ago