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BCH is Not "Free Money"

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Avatar for RowanSkie
Written by   185
1 year ago

As I used both read.cash and noise.cash, I have taken noticed people who have arrived not because they heard about Bitcoin Cash but instead have heard that these two sites are giving away free money, and they would simply leave if they don't get paid anymore.

I've been at that stage of my life, but I moved out of it as I learned what Bitcoin Cash truly is, and it is not free money at all.

Bitcoin Cash isn't "free money" for you to take. It is the money you should use on the Internet.

Now, you might be asking, why am I saying that Bitcoin Cash is the money you should use on the Internet? That is because it simply is the safest and most secure way to transact, after all.

Bitcoin was once known as the "Magic Internet Money" for a good reason, and that was you can send it anywhere and that all you needed was just an internet connection and a Bitcoin wallet. It was only until the world had noticed that those who are true to the word of "Magic Internet Money" and "Peer-to-Peer Electronic Cash" managed to break free from the corrupted Bitcoin blockchain just a few months before Bitcoin's fees skyrocketed because they turned what is effectively an anti-spam measure into a permanent thing.

This anti-spam measure, the 1MB block size limit, then caused multiple issues on the network itself including, but not limited to:

  • Slow transaction confirmation speed

  • Variable transaction fees that can reach $10+ with an all-time high of $98 back in December of 2017

  • Loss of usability with in-chain tokens, most of which now live in Ethereum

  • Loss of potential users, causing a massive drop of merchants using Bitcoin due to fees

And this is all according to the central banks' plan. It didn't also help that people started treating it as a way to get a million dollars quick when there had been memes that Bitcoin won't bring you a million dollars because you don't need those million dollars.

This leads us to the thing which made read.cash and noise.cash very famous. Outsiders think they're giving "free money" in the form of Bitcoin Cash. And they might be correct, but it's not the whole picture. These "free" BCH are given so everyone benefits each other by using it as both sites had intended: tipping and exploring the wonders of Bitcoin Cash.

The reason I wrote this post is simple: People aren't using Bitcoin Cash as it should be, and they're using it to earn Fiat currencies. I'm guilty of that as well, but it doesn't mean to use Bitcoin Cash as an investment machine.

Bitcoin Cash is not free money.

Bitcoin Cash is the money to be used to ensure your payments are securely passed towards those that will receive them. That doesn't mean you should use an exchange it and convert it back to USD or any fiat currencies.

For now, the HODL method works but that's because we don't have massive adoption to use Bitcoin Cash, but its true use case is being able to Spend and Replace it. Bitcoin Cash's goal is to create a closed economy loop, and every Bitcoin Cash that leaves the loop and becomes Fiat Currencies isn't helping it.

By cashing out to fiat currencies like USD and PHP, you're letting the banks win by depositing your BCH to someone who doesn't control your public address.

If you guys followed me around in noise.cash and Reddit, you can see why I have a certain distate in things like Coins.ph. They're also good for introducing Bitcoin Cash, but then only in noise.cash, read.cash, BCH.games, lazyfox.io, and other similar sites where we will get true adoption.

Noise.cash's transaction increase is just one of the proofs that shows that we can use BCH in a way that works to onboard new users. Now, we need help in getting Bitcoin Cash permanently in their wallets.

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Avatar for RowanSkie
Written by   185
1 year ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

I figured that out..it really is not a free money specifically for new users like me.. thanks to ryry whom I have read her/his article which he/she mentioned this article of yours

$ 0.00
1 year ago

It is really very helpful. thank you so much for your article.

$ 0.00
1 year ago

Please contact me. I wil give you 50$.per writing email :johurulislam47.47@gmail.com

$ 0.00
1 year ago

Really isn't free money, once you make something like a blog job to receive em, some people only

$ 0.00
1 year ago

Oh no, I almost belong to the class of people who focus on the word free. Hehehe hehehe

However, it will take you a long time to make sure your dreams come true. I'm not in a position to choose between you or the group of free bitcoin seekers.

At first, there was a difference between noise.cash and read.cash and Instagram, Facebook, or Twitter. I already know the difference without me having to explain it to you.

So, first of all, we need something that will keep writers from writing here. Maybe a global community. Or maybe, there are developments in this application to make it easier for people to write.

Regards Andrian from Indonesia

$ 0.00
1 year ago

Your post is very interesting, you treat with precision the motivation of many to participate in sites with it. Most people are pragmatic and they try to get money anywhere. People think it is free money, but it is not, behind it, there is a greater objective that can change the world. Also, if you want to be well rewarded, you must be creative and add value to those who read you. In the case of tips at noise.cash, I'm impressed by the logic that governs it. Sure, it's perfectible but it encourages fair dealing against greed.

$ 0.00
1 year ago

All what you said is true

$ 0.00
1 year ago

[deleted]

$ 0.00
1 year ago

BCH is free, because nobody controls BCH. No bank, no government.

$ 0.00
1 year ago

My bad. I'm thinking in other way. My understanding is we need to work hard to earn bch. That's why I said it's free. Sorry.

$ 0.00
1 year ago

There are two meanings of free. Free as free of charge and free as free from bondage. Bitcoin Cash is the second.

$ 0.00
1 year ago

Now I understand.

$ 0.00
1 year ago

I'm glad that you have explained this matter that BCH is not a free money.i agree with you.

$ 0.00
1 year ago

Hello, I love reading your article. I was able to learn something. If you don't mind, I was curious with your reply on one of the comments here about "Bit Coin Community". May i know what it is? and how it works?

$ 0.00
1 year ago

Do you mean the Bitcoin Cash community? Well, it's the whole community that uses Bitcoin Cash, of course. Like how WSB is made up of "investors", Bitcoin Cash users are made up of people who want peer-to-peer electronic cash.

$ 0.00
1 year ago

Strongly agree with you! I think that projects like this where you can earn and spend Bitcoin Cash are important to show real usage viability.

$ 0.00
1 year ago

While this is true,

Bitcoin Cash isn't "free money" for you to take.

noise.cash and read.cash is only making BCH easy to earn through writing efforts. They are not distributing "free money" but they reward your efforts with "money that can make free"

$ 0.00
1 year ago

It's just a small piece of the picture. People who mostly joined in read.cash and noise.cash just wanted money. The large usage of read.cash back in 2020 is all because of a system called the points system, in which people get BCH from the fund with 4 comments or one large article.

And right now, noise.cash is currently heavily combating "tip for tip" and "sub for sub" measures because it has a system where you get "free tips" you can use to tip others, and if you and a bunch of other people want to tip each other so you get the whole free tip, well, it's a scam practice. And all just wanting to get "free money."

Like I said in the article, there's a lot of people in noise.cash, and a few articles here showing off, just thanking "admin for the money".

$ 0.10
1 year ago

Yeah, I agree with all the points you have cited there. But I have come to think of this, what were the goals of noise.cash and read.cash anyways?

We'll say "to onboard people to BCH" and that's definitely true. But it really takes a lot to totally onboard them. First of all, people come in this platform to earn money because they need money. And to do it they exchange their BCH to fiat currencies such as peso through coins.ph (I also wonder if you are from Philippines) so that they can buy the things they need. For me, what is only lacking now is the number of merchants we have available to countries like for example Philippines. I'm one of the people who help merchants accept BCH payments and it's a really tough job. But if we can for example provide a place to spend for these users who come here to earn money, we can solve also merchants' problems. Because honestly what merchants also need is consistent growing inflows.

$ 0.00
1 year ago

What you are doing is really amazing and am sure your fellow citizens would agree I mean I know many Philippine people do rely on crypto currency to survive its evident in a lot of places and for some BCH and other crypto currency’s is actually helping to lift them out of poverty it’s just that amazing 🤩 😀

$ 0.00
1 year ago

I also wonder if you are from Philippines

Honestly, I think I should just add it on every article at this rate, haha /s

Hopefully, someone does get reach and create a merchant presence here, true. I only saw attempts in Manila and Davao.

$ 0.00
1 year ago

I know someone from Makati. She is doing bch meetups. I just don't know atm if she still continues to do it.

$ 0.00
1 year ago

There are in Iloilo also 😪 I'm the one promoting it

$ 0.00
1 year ago

Honestly, I also came here because someone told me that I can earn free money for writing but reading this article made me realize, that is not the case.

$ 0.00
1 year ago

The thing with read.cash and noise.cash is that they're onboarding tools to show users about Bitcoin Cash, and it will depend on the user if they want to cash out (and therefore lose out) or join the Bitcoin Cash community. It's all in your favor on where you want to go with your Bitcoin Cash.

$ 0.00
1 year ago

I bet most users joined these two sites because of the earning part of it, the other things come as bonus. Believe me, if the earnings stop, most users will leave. The earning in itself is not free, we have to work for it, write and publish articles.

$ 0.00
1 year ago

I honestly agree with you it’s not free money it’s a investment for the future like stocks is, but when your unemployed like me for months and see your family struggling I can see why people are quick to cash out so early even am tempted because anything you can get to help you is better then nothing but I also believe in holding onto to it for the future, for now I believe if we didn’t have the pandemic people would be more inclined to hold on to it.

So I blame the pandemic we are all suffering which makes it even more harder to save up for a rainy day every day is a rainy day because of this unpredictable virus.

$ 0.00
1 year ago

...

did you even read?

I said that Bitcoin Cash isn't free money nor an investment machine...

$ 0.00
1 year ago

I did read and I never said investment machine but a investment for the future to be clear you did mention that BCH helped to bring people to crypto currency easier but you must never ignore that it actually helps many people all over the world because of it’s low fees and availability unlike bitcoins, don’t get me wrong I did read your article and I do understand what you said all am trying to say that to some people they see it as there life lines that’s why many transactions are happening people mostly don’t feel like holding on to it because there desperate for anything that’s all am trying to say really.

$ 0.00
1 year ago

Didn't wasted time reading this. I don't usually leave a comment on an article that I read. But this one is worth it. I've been thinking of a way too, of how the people who earn BCH on different sites to maintain BCH on their wallets. With BCH convertinf to fiat, its hard to think of a way, especially for countries who doesn't have enough or doesn't have at all merchants who accepts bitcoin cash. BCH is adopted by users (i'm not saying all) on noise.cash and read.cash to convert it to fiat.

$ 0.00
1 year ago

wow such a good job

$ 0.00
1 year ago