The evolution of money $BCH

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Avatar for Jadeliyi
3 years ago

The evolution of money have been in existence from time being had from the barter system to cryptocurrency. The credibility of cryptocurrency being subjected to debate has gone beyond those area to more acceptability world wide.

Barter system

Money is known to be a medium , of exchange, store of value, settlement of debt, in order to exchange for good and service that is generally acceptable. The history of money begins with barter system where good and farm product are use as medium of exchange as well as store of value. However matter arising from measurements of a good for another goods brings about difficult in measurements. For example exchange of cow 🐄 for grains could not be easily measure, generally acceptable is another means of conflict though it was a store of value barter money is known as a commodity money. Commodity money leads to the introduction of the next phase of banks note but how does bank notes begins.

Banks notes

Merchant who kept gold and silver with a goldsmith, whom issue receipt to depositor of gold and silver the quantity and value of commodity held with them. Merchant in order to minimise risk of carrying these commodity use the receipt as a medium of exchange,These introduce the use of bank note. Bank note is known as fiat money, as the the removal of the gold standard in 1971. These as allow the government print more money and control more money, removing real strength of demand and supply of money.

Cryptocurrency

Satoshi nakamoto successful develop a digital currency, to help money exchange between people across borders, very easy faster, and cheap. The cryptocurrency Is know as Bitcoin. However today there are version of this, one that still follows the original road map bitcoin cash and the other bitcoin core.

Bitcoin cash Vs Fiat currency

The Bitcoincash is the cryptocurrency after the fork from the bitcoin which lead to the bitcoin core and the bitcoin cash, the Bitcoin core has a very cheap transaction fee, fast transaction, more block size and still on track with the satoshi white paper which the core developer has changed over time. Bitcoincash is a peer to peer decentralised form of digital currency. Unlike fiat Bitcoin cash satisfy the characteristics of money

Scaresity : fiat currency cannot be said to be fully scares as government could print out, money at any time they fill like and have control over it hereby causing inflation. Bitcoincash has a limited supply of 21 million Bitcoincash $Bch .

Durability : money can be used over and over again, fiat currency would not Stand a test of time for so long, all cryptocurrency and satoshi's Bitcoincash is not subjected to wear and year .

Portablity : easy access of money to carry and transport any where, fiat money has a limitation of the amount you can carry by cash, and delay in transaction as well is s problem with fruit money and do many cryptocurrency, but with Satoshi's Bitcoincash fast transaction across borders with increase block size to ease transaction is what others no one can't beat.

Homogeneous : as fiat is subjected to counterfeit, Bitcoincash is very hard to have a fake of it across anywhere at any time in the world.

Divisibility : money being in smaller unit for the ease of transacting large and very small unit of transaction. Bitcoincash allow the medium of exchange of very small transaction at an extreme low rates .

Acceptable : satoshi's Bitcoincash is generally acceptable across all the border of any country as it can be use to transact locally and internationally, acceptable of Bitcoincash is very well ascertain.

Bitcoin cash Vs Bitcoin core

A fork from of bitcoin bring about bitcoin core and Bitcoincash. The bitcoin core developers have change the original satoshi nakamoto roads plan to make bitcoin as a medium of exchange to what they called " store of value" isn't that a scam and a slap on satoshi ?. Bitcoin was created to challenge fiat, and replace it with over supply of money and government manipulation. A Transaction carried out on the $btc is by characterized by delay in transaction which may take up to days huge transaction fee unlike $bch which is very fast, and minimal transaction

Transaction fee

Transacting with $btc is not encouraging as the transaction fees of over $10 would make a lot of item impossible to purchase defeating the peer to peer transaction sense, however charts below show the parabolic increase that would occur in $btc which means minner keep taking out of people.

Transation time

The time spent to get transaction across from wallet to wallet is painstaking as I had wait for four days to get a transaction confirmed at some point in time Using $btc , but with $bch it has being very fast to conduct transaction immediately.

Of every of the crypto currency Bitcoincash stand only as a medium of exchange, store of value , means of payment. Its a perfect growing phase in the evolution of money has it possesses every satoshi vision.

The Bitcoincash cash is the solution in e-payment that arise from the past use and uses of money. In the long run gradually people would know about how greed has taken over of some individual and then people would acknowledge and embrace the satoshi bitcoin $bch.

Every kind of money except cryptocurrency are subjected to different kinds of errors, unrealiable usage passage of time and disbelief but cryptocurrency have come to stay, and no doubt Bitcoincash is the one.

You can always preach the gospel of Bitcoin $bch , tell some to inform the other. Amy means of payment presently I only accepts $bch 😌😌😌.

That is fast,reliable, and low transaction fee within some seconds is a reason .

I would continue to hodl $bch I believe it to be exceptional and most used widely acceptable crypto soon.

Financial advice.

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$ 0.01 from @Hanzell
Avatar for Jadeliyi
3 years ago

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