You don't want to pay 50$ for a 2$ coffee or do you?

With growing censorship in various parts of the world more and more people are getting interested in cryptocurrencies. The rise of bitcoin and then Ethereum proves this point. However, transaction fees have been on the rise. In recent days Ethereum gas prices have reached around 34-50$ which is too much. And bitcoin blocks take around 15 minutes for confirmation. You don’t want to pay 50$ on a 2$ coffee or wait for a long before your order is confirmed. Bitcoin Cash seems to solve this problem.

As a freshman in university, I was introduced to the world of blockchain and decentralized systems. I was fascinated by the idea of a world with no central authority controlling financial institutions. I saw this as a transformative system for people living in third-world countries with authoritarian rulers and censorships. Later on, I took the role of a research assistant focusing mainly on Ethereum and smart contracts. My job wasn’t trading but intrigued by Ethereum prices I studied further and found out that Ethereum gas prices are volatile. In recent days they have again been on the rise.

For bitcoin, once the 21 million limit is reached transaction fees will inevitably increase. That combined with slow block confirmation times does not make for a good combination for use in third world countries.

I was truly impressed by the confirmation times of bitcoin cash and little transaction fees. The block size is also very small. While bitcoin block size is around 1MB, bitcoin cash blocks can reach a maximum limit of 32MB. However many blocks are much smaller than that.

Being someone who has worked with other blockchains and seen the problems in them, bitcoin cash is a silver lining. There are countries in the world where the government controls the financial markets and people are helpless in the face of it. Bitcoin cash will completely transform their lives. You may have seen posts from pro-Bitcoin guys on Reddit about Bitcoin cash being offensive and not up to the standards. But they are not even true to the vision of decentralized finance.

There is always a talk of integrating cryptocurrencies into the mainstream economy. Many companies have started developing systems for integrating cryptocurrencies. There is no better crypto alternative than bitcoin cash. In real life buying or selling scenario quick transfer of money is important and that too with little extra charges? Only bitcoin cash provides this opportunity.

So yeah, I’m all up of BCH. And I’m definitely going to invite my fellows to contribute to this ecosystem because I can see a future that is secure from the monopoly of large corporations and governments.