It's the last day of the month, a day of reflection some would call it. I was talking to a friend two nights ago about read.cash, I noticed the confused look he had when I brought up Bitcoin Cash. Finally, he asked me
"What is Bitcoin Cash?" - he said
Then I saw my error, I was wrong to assume he knew what Bitcoin Cash was.
"It's a cryptocurrency"- I replied
"Crypto what? "
Another error, these days with the constant evolution of the world, you would expect almost everyone to be conversant with what Cryptocurrencies are.
Many people are still unaware of the opportunity it brings widely due to ignorance or simple negligence, written off as a scam.
People have been cheated so many times in the past that they are not ready to take anything seriously, they regard anything they do not understand as a scam.
Imagine his surprise when I told him about how I earn Bitcoin Cash from writing articles.
"How much did you pay to register?"
"Nothing, it's free"
"It's not possible, it's a scam, better quit it"
It sounds too good to be true but it is, and I wouldn't have learned of this opportunity if I didn't open myself to learning.
The world is constantly evolving, it would be really bad to be left behind. So last night, an idea struck my mind.
Trying to explain what Bitcoin cash is without giving full background to a layman is like speaking in a foreign language. NFT's, Farms, Airdrops, Swapping, Hodling, Crypto Wallets, and other terms are not easy to understand to newbies of the Crypto-verse, so why not break it down to the easiest possible explanation for better understanding eh? which is what this article will be about
Before I proceed, I want to thank my wonderful sponsors for their support in my journey here as a writer.
Evolution refers to constant change, according to science, even human beings evolved into what we are today. The world is constantly changing. What we had in the past is different from what we have now. One of which is Money
Money is simply an exchange between two or more people for a particular product or service. Over the decades, it has taken up different shapes and forms
Trade-by-Barter.
At the earliest point in civilization, this was a major means of exchange. Wealthy men were classified based on the size of their farms and crop produces as well as their flocks which comprised Horses, Sheep, Goats, and Cows.
Man -1 : hello there mate, I would like to purchase one of your fine horses, he's a beast, I like him.
Man -2 : Alright there mate, I'm afraid it's going to cost you, you see he's a fine steed and a rare one. What do you have to offer for him?
Man -1: what do you say I give you a bag of rice and a bag of salt for him eh?
Man-2: I'm afraid that won't cut it, 3 bags of rice and a bag of salt should seal the exchange
Man -1: 2 bags of rice and a bag of salt is my final offer
Man -2: Looks like we've got a deal
Just like that, the deal was done. This method functioned for a while until the inception of Metallic Money
Metallic Money
Gold and Silver became the new criteria for measuring wealth and this was largely due to its scarcity.
The scarcity of a commodity increases the value.
Man 1: I love your house, I would like to purchase it
Man 2: I'm afraid it's not up for sale
Man 1: I will offer you 10 gold pieces for it
Man 2: getting upset, It is not up for sale friend
Man 1: determined to get the property, 2 bags of gold and a bag of silver.
Man 2: now you are talking, I think we have a deal, my good man.
Now, you might wonder, transporting such amounts of money from place to place could be risky, heavy, and open for theft. Another major problem was calculating the worth of the gold. Judging a gold's worth by its weight wasn't good enough.
Metallic Coins
This was introduced and values were assigned to the coins making it easy to count and measure.
Man 1: I would like you to come work for me
Man 2: that depends on my pay.
Man 1: what's your offer.
Man 2: 10 pounds and 5 shillings
Man 1: deal
Man 2: wait, what? Just like that?
Man 1: Yes, just like that
Man 2: I think I would like to raise my fee
Man 1: a deal is a deal
Soon enough, metallic money started to prove difficult to transport about so the next evolution began
Paper Money
We have banknotes today in every part of the world, this is the idea of "Money" most people have. This has been widely adopted by everyone.
Banknotes were lighter and easy to save in banks and there were allowances to exchange these notes for other currencies based on their value.
Due to the short lifespan, it couldn't be kept for a long time and was not advisable for carrying out large transactions.
Plastic Money
Credit cards and the Debit card were an upgrade from paper money, this curbed the issues of theft and made transactions a lot easy, these transactions are controlled by banks. The banks have the power to charge you for these services and also control who sends and receives the funds. Evolution didn't stop here though
Cryptocurrency.
In easy terms, digital money. You can't hold it but it has value in fiat currencies. These currencies are not influenced by world banks and also ensures transparency as well security of transactions since you are the only one who possesses the private keys. These currencies are capable of massive growth due to their adoption hence more volatile than fiat currencies.
Bitcoin Cash is one of those currencies, and due to recent developments, its adoption, as well as holders, keeps on increasing which will ultimately lead to the rise in value of this coin.
read.cash is just one of such platforms that enables you to earn Bitcoin Cash (BCH).
At this rate with the constant increase with the adoption of this coin, the value is sure to go higher as time goes by.
I intentionally refused to go into details to avoid confusion, but with this, you now have a general idea of what Cryptocurrencies are and the origin.
All you right here is true , but it's so hard to explain to other people mostly if they are not open minded. By the way thanks for all of the information I learned more for this