It was only very recently (within the last year) that I became aware of bitcoin cash and all it has to offer when I started on read.cash earning amounts for my rubbish pieces of writing. (Probably still rubbish but hopefully improving) I would see it as something that I could turn into “real money”, now what I see is that bitcoin cash is the future. So for the last 3 months, instead of turning it straight into fiat, I am keeping hold of it, I can see the benefits of this coin. I can see real term application in the future.
It's quick, and the fees are minimal now as someone who knows very little about crypto in the grand scheme of things I know that is good. People can tip me pennies or penny on noise.cash with bare minimum fees from all over the world and that is what baffles me, especially after recently looking at money transfers and seeing how much the fees are to send all around the world. (Although there are ways to earn money from them wink wink)
But thinking about it I don’t really know what bitcoin cash is where it came from, where it's going, all I know is that I want more of it.
When did Bitcoin cash start and what is it
Bitcoin cash is a hard fork of bitcoin, which basically just means it is a whole new currency, the difference my basic understanding being that the block size was increased, which again my limited understanding means that is why the transactions can be done so quickly, but on the other side means that the system is less secure?!
What Are the Benefits of Bitcoin Cash?
Bitcoin cash has all the same advantages of bitcoin, decentralised and secure, but seems scalable with very low fees, and very fast transactions it could be possible to buy a pack of gum from the shop
Biggest problem: will it become widely adopted?
The problem is will it win out, will it become wider known and used, that appears difficult to know but what is true the people behind bitcoin cash.
I had no idea there were so many different bitcoin forks, but this does appear the one that for real term application is closest to.
I think the community is what will make it grow, people spreading the news believing it, and of course, the best way is for people to spend it.
What read.cash and noise.cash are doing is getting people like me who know little about it, get some bitcoin cash and see the benefits from it. Now if I could earn my bitcoin cash myself keep hold of my own securely and spend it freely from the same wallet and bare minimum fees. I would be all over it, at the moment to turn this into ‘real money’ I would send it to an exchange and then send it to my PayPal losing money on my fees and then changing it to ‘real money’
So that is why I am keeping hold of it because I believe in it.
But going back 6 months if someone told me about bitcoin cash, and how it worked would I believe it in as much? probably not
But things are going in the right direction definitely the real test is will the marketing of it work. Will the fees remain as low if it becomes as popular?, Will it stay as secure?
Now I need to go away and learn from scratch about all of this because now I have a real desire to learn, the problem is on the limited learning I have done, although I think I have grasped some subjects, I don’t think I have got hold of it all, it still is confusing. Education is key it appears so that people trust this magic mystery money.
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Thanks for reading
