BCH - The Evolution of Money

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Avatar for Greatwolfman
3 years ago

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.

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Evolution of money

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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.

Trade-by-Barter

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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

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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

Coins

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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

Paper Money

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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

Plastic Money

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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.

Cryptocurrency

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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

Image source

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.


Lead image Source from Unsplash

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Avatar for Greatwolfman
3 years ago

Comments

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

$ 0.02
3 years ago

πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚ @ greatwolfman my dear friend, people can be very very funny with their fears as regards cryptos and how someone can earn from it, no wonder he's been asking you questions regarding bch and cryptos generallyπŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚. I can't help but keep laughing at this funny friend of yours

$ 0.02
3 years ago

Same here, I was just surprised myself

$ 0.00
3 years ago

Right,some people are still unaware about crypto, but that's good you make him to know about it. Your description of bitcoincash and other currencies is so perfect. Thank you for it.

$ 0.02
3 years ago

You are most welcome @Itsfarah

$ 0.00
3 years ago

BCH is the easiest way to control your own money. I do believe on cryptocurrency's future. Soon they will be over all the world. Well explained brother keep it up.

$ 0.02
3 years ago

Thank you, BCH will soon dominate the financial world as we know it

$ 0.00
3 years ago

This is such an informative article. I believe that cyptocurrency will be our future. I am glad tgat most of my friends whom I introduced this platform were all open minded and teachable πŸ€—

$ 0.02
3 years ago

I wish mine were like that, at least I have played my part

$ 0.00
3 years ago

Cryptocurrency is still new to me but at least i have an idea now since i have started my journey here. I also introduced this site to some of my friends and siblings and some of them liked it.. i think i wasted too much time of my previous years of not being here, i wasted too much time on nothing, why i waited so long to discover this site.

$ 0.02
3 years ago

It's never too late to start, a joined about 3 months ago but wastes one month doing the wrong things, at least now I know how best to direct my time and energy productively.

$ 0.00
3 years ago

I tried introducing this platform to some of my friends recently they still don't believe and I even show them proof but still thinking it's a scam. I even told them since you are not paying anything to start can't you just try... But I think they are not just interested

$ 0.02
3 years ago

No one is ready to do any work, they want easy money hence the reason they keep falling prey to scams

$ 0.00
3 years ago

Yeah you are right

$ 0.00
3 years ago