Why am I promoting Bitcoin Cash? so that you can donate BCH or BTC towards my campaign.
https://read.cash/@Parkins/bch-bakkie-crowdfunding-d4622421
If you decide to contribute in bitcoin or bitcoin cash allow me to explain something about this particular cryptocurrency. I went through the internet and gathered some information for a simple explanation and a brief introduction.
What is bitcoin? If you don’t know by now it is virtual money you can earn or buy online and transfer it to your account to withdraw it as cash or whatever else you want to do with it. There are bitcoin ATM’s in certain countries that allow you to deposit and withdraw cash and selective stores that support bitcoin.
What's all the hype about BCH (bitcoin cash)?
It’s an awakening to the realization that Bitcoin Cash believes in the original vision for Bitcoin by Satoshi Nakamoto. A fast, secure, worldwide peer to peer electronic cash system with low processing fees.
What's a peer to peer transaction? A peer-to-peer transaction means that a transaction is sent directly from the sender to the recipient, without a service provider regulating your limit or charging interest depending on the amount.
What's the difference between Bitcoin Cash and Bitcoin?
Bitcoin Cash comes from the same mill as Bitcoin. They share the same white paper, a similar supply, the same mining algorithm and possibly the same reward system.
Both Bitcoin and Bitcoin Cash aim to be a worldwide accepted digital currency, but there are some important technical differences as both communities have differing views on their solution to scalability.
Technical differences
Features -BTC -BCH
Start -2009 -2017
Founder -Satoshi Nakamoto -Bitcoin Unlimited
Block Size -1MB -32MB
Transaction size -3-7 pers second -Over 100 per second
Transaction fee -$0.01 -$2-$50
Considered to be -Digital Gold -Digital Cash
Scalability solution -SegWit, Lightning Network -Increased block size
Although Bitcoin and Bitcoin Cash may partake in similar mining algorithms, they do have a different adjustable level of mining difficulty.
Like I said this is just a summary to give you an idea of bitcoin cash. There's still a lot attached to cryptocurrency such as blockchains, node, faucet and more which require deeper breakdown. But I would like to focus on a BCH awareness such as:
Did you know that your government can print more money creating a huge inflation problem? Bitcoin Cash prevents this by having a predictable creation schedule. No one in the world can decide to say that tomorrow we'll have to create a billion new Bitcoin Cash. It's impossible. Some very advanced math guarantees it.
Did you know that your government and bank can freeze your account and not apologize if they made a mistake? With regular money this situation is possible, with Bitcoin Cash this situation is impossible. You control your money at all times and nobody, except you, can move it. Not governments, not your bank, nobody but you have excess.
Did you know that your bank can limit you or even overcharge you for an international transaction? for example, let's say your friend is in another country. How much would it cost to send the money there? Usually it's about $20 more or less. How fast would it be? Probably about 3 workdays. With Bitcoin Cash it's less than one US cent and immediate, in some cases the recipient of the money would need to wait about 10 minutes for the money to "settle" if the amount is big enough.
If fact here’s some key points that can benefit business owners.
Bitcoin transactions are not fully anonymous
A far as I know, you don’t need to share your identity to attain a digital wallet, it’s more private than a bank account. However, Bitcoin is not a privacy coin: the blockchain is public to everyone, meaning that all transactions can be viewed.
If you like to keep your Bitcoin transactions extra private, use a different address for every payment. To do this in your wallet app, click on create a new address in the send and receive tab if you’re the one sending or receiving the Bitcoin.
How Bitcoin Cash payments boost your business
Lowest fees - No matter the transaction size, Bitcoin Cash payments cost less than a cent making high payment processor fees a thing of the past.
Zero chargebacks - Every payment in Bitcoin Cash is permanent so, unlike with credit card chargebacks, you have the right to make refunds at your own discretion.
Immediate payment - Never wait on payment processors again. Bitcoin Cash payments are received in seconds, ready for you to save, spend, or convert into your local currency.
| Where to start?
Create a wallet. A wallet is an online cryptocurrency site whereby you can exchange your local currency into cryptocurrency and visa versa. Click on bitcoin.com or use Luno (I use Luno) but there are many more out there. Fill out all the required information and you are good to go. The wallets will provide a lot of direction and help to most of your questions.
| Final words.
So now that you have a small idea of what bitcoin cash is all about do me the courtesy and donate towards my campaign that will make a difference in the kids' lives and an impact in ours. We have been donating towards underprivileged kids for years and we made it happen through all complications and this time around we need assistance with one major challenge you can help with.
Please read more about it here - https://read.cash/@Parkins/bch-bakkie-crowdfunding-d4622421
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