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Bitcoin Cash has usecase and this will be the key for success

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Written by   868
1 month ago

There are over 6,000 cryptocurrencies worldwide and more are appearing and many of them are speculative in nature with no real usecase in real life. They are widely used for trading as a profit instrument or are used to insure and thus earn more money after years by holding, but they have no daily use, that is, they cannot for example:

  • go to a bakery and pay for a loaf of bread or even take a bus and pay for the ticket with it.

When there are these currencies that are accepted to make this type of payment, they have highly prohibitive fees, making many people to not adhere to the service, leading many merchants or providers to suspend the service because they are not having usability of the system.

The importance of decentralized currencies with low fees

It may sound a bit pretentious to say this but it's the plain reality, the world is composed of a broad middle-poor where the majority live below $5 a day and in more remote areas of the planet even below $1 a day, which makes the success of decentralized currencies that charge a lot in transaction fees not feasible to be used in the world. It makes no sense to talk about adoption as the coins are not inclusive and can be used by a handful of people who can afford to pay very high fees.

Inclusive cryptocurrencies, such as Bitcoin Cash, are more likely to be adopted in both medium-high and poor-level countries as one of the bases for adoption is the guarantee that anyone can use the money any moment without having to worry about paying too much just in movement fee. For global adoption, fees play a crucial role as them allow more people to use and also merchants accept to receive the currency in exchange for their products.

The creator and father of cryptocurrencies, Satoshi Nakamoto, thought about this and during his initial involvement with Bitcoin he predicted that for people to join the decentralized currency world and have to interact directly with merchants, the fee aspect had to be favorable to both parties to allow no one to get hurt in the business. And in fact it is important for transaction trust as both parties are aware that even though they do not use traditional payment instruments, they can accept peer-to-peer electronic cash payments at any time of the day and thereby obtain the desired item as well how the merchant obtains its value directly in its wallet, all this by paying extremely low fees and with guaranteed speed and security.

Bitcoin Cash usecase goes far beyond what we imagine

As a decentralized currency issued in blockchain Bitcoin Cash is also a speculative asset, but unlike many speculative currencies it has usecase in real life. Bitcoin Cash can be used in the daily economic environment and can also be used in virtual life, as if we are going to repair Bitcoin Cash is widely used to purchase goods and services directly where there are merchants all over the world who are willing to accept the currency.

Bitcoin Cash can be used to buy things that matter in people's lives, it can be used to buy movie tickets, plane tickets, pay for a hotel stay, can be used to buy a simple cup of tea/ coffee or a soda, all done without having to worry about fees because they are practically non-existent (less than 1 cent on the dollar) and this use can be of a daily nature. This usecase allows a lot of people to join Bitcoin Cash and directly control their money because they know they can use it however they want and whenever they want.

In the same way that traditional money is used, the same can be done with Bitcoin Cash, with a difference, because Bitcoin Cash is directly controlled by the owner and its issuance can be done in blockchain, which gives the holder more guarantees than Fiat. Fiat may suffer inflation and have its usability called into question since it may not have the weight of purchase of the product that it could purchase yesterday at the stand, which does not happen with the usage of Bitcoin Cash as this currency is anti-inflation and its purchasing power is much broader as it continues to have the same purchasing power today, tomorrow and in the future because it gains value daily.

Bitcoin Cash can be used in a peer-to-peer manner either domestically or even internationally, paying the same fee every time each time transacted. Its usecase is both domestic and international, allowing anyone who wants to send values ​​to family, friends or even make donations to do so in a carefree way knowing that at the exact moment the transaction was made it can be used immediately.

Summary,

Bitcoin Cash has its own usecase and unlike other cryptocurrencies it is accepted by merchants, companies and individuals who are willing to use it and know its value in the decentralized economic market. If an employee accepts to receive in the currency, they know what the value of Bitcoin Cash is, where they will use Bitcoin Cash and how they will use Bitcoin Cash.

For this person to accept receiving Bitcoin Cash is because they know they have enough space for its usage if they didn't know or had a place where they can spend it, so why would they be accepting it? It would not make any sense, after all, this employee has to pay bills, has to eat, or even has the right to have fun. But, he knows that usecase exists and has places where he can find what he is looking for, so he accepts to receive in Bitcoin Cash.

Nowadays it is possible to leave the house and have a meal and at the end make the payment using Bitcoin Cash. It is possible to travel and during this period pay for accommodation, food and even the ticket back home using Bitcoin Cash.

In the past it was necessary to leave the house with cash in the wallet or credit cards to make payments, nowadays this is no longer entirely necessary as people only need to have merchants willing to receive Bitcoin Cash and for this the user only needs a mobile phone to be able to make payments directly to the merchant's wallet quickly, dynamically and securely, paying minimum required fees.

Bitcoin Cash is the currency of the future and can be used directly as means of payment for anything and this differential is very captivating for its adoption worldwide.

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Written by   868
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Comments

Esto es un mundo de paciencia al final al pasar el tiempo aseptaran como no. Y más cuando vean el Auge que tiene. Linda mañana te deseo lo mejor de este mundo salud y prosperidad para ti y tu familia besos y abrazos desde Cuba

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1 month ago

I am happy to hear that merchants, companies and individuals are now accepting Bitcoin cash as a normal Currency. I hope soon it would be completely use everywhere.

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1 month ago

I believe that soon enough more and more people will accept the currency

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1 month ago