My Bitcoin Cash journey - when questions are creating more questions
I now have a week on noisecash (https://noise.cash/u/Carabageac94) and readcash. Still trying to learn, assimilate and catch up with the information. I joined noisecash because I was told is a social platform similar to Twitter and the community is great ... and that was true. I am enjoying it and on top of making new friends, I am earning Bitcoin Cash (BCH).
I am new to crypto and I had to be guided in this journey. I downloaded the Bitcoin.com wallet and all the income from noises goes there. This is my balance after a week. If I will do a basic forecast, only posting constantly will lead to $342.16 worth of BCH in a year.
I was hooked up and noticed that some users are also writing on readcash, a blogging platform that also offers BCH rewards. I joined this one as well and wrote my first post. It was a short one as my crypto understanding is still limited. I noticed that the main focus is not on cryptocurrencies and articles about travel, music and food are also trending.
All this reading made me realize that I know nothing about Bitcoin Cash and the details related to its use, history and future. Every question led to more questions but I managed to do a summary!
What is Bitcoin Cash?
Bitcoin Cash, knows as BCH, is a cryptocurrency that forked from Bitcoin in 2017 to increase the block size limit. Important members of the Bitcoin Community such as Roger Ver implemented the increase of the block size, as the limited size made Bitcoin a digital investment not a transactional currency. Bitcoin Cash can be used as a payment meth
What is a hard fork?
A hard fork is the name given to a software update in the blockchain or cryptocurrency that is incompatible with the existing blockchain protocol. This update will create a permanent split and two separate networks that will run in parallel will be created. The fork will create a permanent change in the blockchain protocol’s rules. Bitcoin Cash (BCH) had another hard fork in November 2020, when Bitcoin Cash ABC (BCHA) was created. This new chain didn't raise enough interest because is asking a fee from miners. the Bitcoin Cash Node (BCHN) is considered to be the official Bitcoin Cash.
How is Bitcoin Cash different from Bitcoin?
As a result of his higher value, Bitcoin is an investment and a store of value. It cannot scale effectively and the transaction are processed, verified, and stored in the block chain. The Bitcoin this network is decentralized and because it can process only seven transactions per second, is not as viable as a payment method as Bitcoin Cash. Therefore, Bitcoin Cash is faster and cheaper to use. Bitcoin transactions are also slower and the fees are higher than the fees paid for Bitcoin Cash transactions. Even if they share the Bitcoin title, this two are totally different by usage and properties.
Who is Roger Ver?
@RogerVer is considered one of Bitcoin Cash creators. He was born on the 27th of January 1979, in California and was an early Bitcoin investor. His focus moved from Bitcoin to Bitcoin Cash. His past was controversial as he served 10 months in prison for selling explosives. He pleaded guilty to selling explosives without a license, illegal storing of explosives and mailing explosives.
Roger Ver was Bitcoin.Com CEO until 1 August 2019, when was promoted to the Executive Chairman position. He started investing in Bitcoin in 2011 and worked constantly in promoting and boosting the cryptocurrency awareness. He renounced his US citizenship in 2014, after obtaining a Saint Kitts & Nevis passport.
Who is Marc de Mesel?
@MarcDeMesel is the readcash sponsor. He is the one keeping the platform alive with his huge contribution. I seen he is supporting 100% of the platform's fund. I found out that he invested in Bitcoin since 2012 and has a brilliant mind in spotting crypto opportunities. He shared his life and financial experiences on Youtube and is constantly posting on both readcash and noisecash. He is rising awareness about BCH potential on social media, including Twitter.
Marc grew up in Belgium, in the northern Dutch part of Belgium called Flanders. He was inspired by big entrepreneurs like Bill Gates, Elon Musk, Roger Ver and great investors like Marc Faber, Roland Vandamme, Edward Thorp. Marc looks like a great guy and a source of inspiration.
My Bitcoin Cash aspirations
I want to earn and hold Bitcoin Cash. I seen many posts by @MarcDeMesel saying that BCH is undervalued and is destined to greater goals. Even if my crypto knowledge is limited, I can see the reasons why Bitcoin Cash is better than Bitcoin in daily activities. I hope that in the future, BCH will be a global method of payment and I will be able to pay with it for my coffee in London or my lunch in Dubai.
I like to travel (if you follow me on noise you probably know this already) and I hope that in the next years I will be able to use my Bitcoin.Com wallet during my holidays. This dream makes me feel enthusiast about Bitcoin Cash
I seen many people raising BCH awareness and I think this is cool! The concept of #Club1BCH is even cooler, as it makes users motivated to earn and hold Bitcoin Cash and share the future glory! I wish to achieve 1 full Bitcoin Cash in the future and join the select company of Club1BCH. As my friend always said ... the journey is what gives value to the destination.
Even so, I hope you are more diligent in writing here. At least one article every weekend. Because I believe you are someone who has useful knowledge to develop blockchain systems and technology.