Bitcoin Cash, a P2P digital electronic system: It's Just Money Bro

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Avatar for alli2021
2 years ago


Doing a little experiment where a person can go to a convenience store and pay something, for example a soda, using Bitcoin Cash, that payment can just be cut the total value of the soda with no additional costs.

Bitcoin is money;

Bitcoin Cash can be used to purchase a pizza, to pay for a coffee, to purchase tickets for movies or even book an accomodation abroad and go to vacation with family in a paradise Island! Also can be used to pay recurring bills, make an investment using the currency etc, Bitcoin Cash is a really asset that can be used to improve people's lives all over the globe.

A P2P electronic cash payment system

Bitcoin Cash can be used for daily peer-to-peer payments such as physical money if it is without major damage to the consumer's pocket, that is, if the consumer goes to a convenience store and requires, for example, a coffee they will only pay the value of the coffee. The same happens when the consumer goes to a travel agency and pays for his plane ticket, he will only pay the value of the ticket without additional transaction costs which making Bitcoin Cash decentralized digital money more effective for those who bet on Open source blockchain.

Bitcoin Cash is inside an ecosystem that also are part other currencies that can be used to exchange for goods and services but, different from Bitcoin Cash those currencies aren't money! To understand this it's necessary to see the transaction costs, money have less costs to use in order to get the product purcahsed. For example, when it's used Ethereum to buy a cup of coffee just in transaction charges the consumer can lose more than what is willing to pay for the product! The same happens to other coins such as BTC.

To resume, it can be assumed that not all currencies can claim to be digital cash as Bitcoin Cash as to be digital money it must have all the necessary requisites to use in really world like Fiat currencies and not all, can be able to exchange it directly for products and services without need to swap it in Fiat.

Bitcoin Cash Is Money For The World

Money isn't only something tangible, a thing that can be filled on the pocket but is something that goes above that. Money is the hability to have something that give power to purchase things and has value. Money is an asset to transfer, pay or even send to family and friends anytime, anywhere that could be used right away to buy goods or pay for services that really matter in life.

That's exactly what Bitcoin Cash is, a decentralized [non-paper] digital money that allows humans to use it quickly, dynamically and super secure. For being digital decentralized money it gives holders more ways to store it without have to relay on government or banks to custody it.

The difference with paper money, state money or fiduciary money with Bitcoin Cash is that it is controlled by the Government and is centralized while Bitcoin Cash is controlled/owned by each holder and issued in a decentralized way.

To understand what money is, we can refer to our daily lives where society has physical notes, coins in their possession, that are used to make payments in stores, supermarkets, pharmacies and other establishments. These banknotes or coins have long been part of humanity and allow people to feel with them that they have some purchasing power over products they truly want.

The history of money is linked to humans and has always been important for the development of countries because it allows a lot to be acquired, paid or even transferred to society evolution. Most of the paper bills are made so that there is no counterfeiting and with an original type of state seal and require the state to invest heavily in resources to ensure that its money is issued and distributed by the central banks to the people.

  • Fiat money is very expensive for the state, but the people are not the ones who pay this money. People pay by paying tax taxes, property taxes, import taxes on products such as vehicles or even cleaning products, etc.

As it is centrally issued, the individual does not properly own the fiat money, he simply 'rents' it and can use it as he pleases but it is not his money, does why it's needed by banks to user create bank accounts. By getting bank accounts, the state knows that the customers themselves will pay the tax to the authorities and if the individual does not have a bank account and wants to keep the money in their custody, he can be convicted of tax evasion and suffer heavy penalties.

This is a small part of the history of money that I wanted to leave here to remind you what exactly money is and what it is for and with that we can see together that Bitcoin Cash is actually money.

It's Just Money Bro!

Bitcoin Cash is Just Money Bro,

It can be used to purchase products and merchants accept it worldwide without need to exchange in Fiat, it has really usecase In the world also it value is used by people to adopt the currency as backup plan to fight back poverty in the planet. Holding Bitcoin Cash is more than have a simple cash in the pocket as BCH can be used in all the planet with no borders as long people involved in Bitcoin Cash economy are willing to accept and use it!

Paper money is slowly getting obsolete with big economies in the world trying to substitute it with digital national currencies, the CBDC (central bank digital currencies), and in the future more products and services could be bought using digital cash. Don't mistaken thinking that CBDCS are open source there aren't.

The best way to preserve more financial status is to use decentralized money for the world, and Bitcoin Cash is that money!

Bitcoin Cash was made to the people by the people in an attempt to build a better economy to the world, where everyone can be their own bank and bet on their future using decentralized currency, that has lower fees, fast as lightning, can be used to purchase things in a peer-to-peer way, totally inclusive to maximize more people to use it and benefit from it.

Merchants, contractors and others are increasingly accepting the currency in large parts of the world and as Bitcoin Cash is known for being decentralized and digital it is really money of those who own it.

Final thoughts,

While other cryptocurrencies do not work as peer-to-peer electronic cash payment, Bitcoin Cash is exactly what it is and does! It works like decentralized digital money and can purchase consumer goods and also pay checking bills using the currency.

When Bitcoin was introduced to the world it was supposed to be money, something only Bitcoin Cash can finally make good on the name, and as its fundamentals are strong people are rediscovering the true meaning of Bitcoin by seeing what Bitcoin Cash is all about can actually do.

Bitcoin Cash works and it's just what the title of the article says, It's JUST Money Bro!

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Avatar for alli2021
2 years ago

Comments

el mundo de las criptomonedas es algo confuso par la mayoría de las personas, lo que hace difícil que pequeños comerciantes hagan uso de este método de pago, hace falta mas campañas educativas acerca del bitcoin cash y las criptomonedas.

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