Hi, Hope you are doing well!
Today I saw a tweet of David Bond in which he was giving importance to Bitcoin Cash in front of Fiat money.
David Bond, his real name is Steven Mapel is a YouTuber. His content is all about his life, traveling, sharing his philosophy on life, and of course taking beautiful women all around the world. He is also in Crypto too. You can saw him teaching Bitcoin Cash to his friends on Twitter. His username: @DavidBond77
Now back to the main topic, David Bond posted a tweet in which he was saying that he has refused to receive any money in fiat currency. According to Him:
" I have completely stop accepting payments in government issued money "
Tweet link: https://twitter.com/DavidBond77/status/1444104888645046273?s=19
I totally appreciate his decision and want to tell you guys why you all should accept your payments, salaries in Bitcoin Cash.
Why using Bitcoin Cash over Government issued Currency:
1. Privacy Concerns:
Fiat Currency: In Fiat Currencies like Dollar and Euro you can't transfer any money from one place to another without involvement of a bank. You have to tell the bank that why are you transferring ***** amount of money to ***** person. And If you receive/transfer a high amount of money through bank then agencies will involve to investigate you.
Bitcoin Cash: Bitcoin Cash uses Peer-to-peer network system which means you can transfer or receive any amount of money from any place in world without involving a third party. Using Bitcoin Cash, transactions will be encrypted to everybody except the person who are sending and person who are receiving. ( Cryptocurrencies transactions data are saved in open ledgers i.e Blockchains. So, anyone can see the transactions but no one can see the sender and receiver )
2. Freedom and Control:
Fiat Currency: Paper/Fiat Currencies are issued and controlled by Banks and Government and they are Centralized which means if a bank system goes down you can't transfer or send any amount and can't even receive! Some Bank provide online banking service but because they are Centralized, there are possibilities that System can be Hack!!
You can check the link for your own confirmation:
https://www.independent.co.uk/news/world/americas/bank-of-america-app-down-b1930884.html
Bitcoin Cash: Where as Bitcoin Cash is produced and distributed through a process called Mining and it is not controlled by any Centralized Authority. Blockchain is a decentralized public ledger where all the transactions are saved and it can't be Hack and Shut down by any county in the World. So, If you use Bitcoin Cash as daily medium of exchange no one can't track or stop your transaction.
3. Fees for Transaction:
Fiat Currency: Transferring money through a bank cause a high amount of fee because bank's have staff to pay salaries, security fees, online ledger's storage rent, and other bills to pay.
Bitcoin Cash: Through Bitcoin Cash you can transfer thousands of dollars globally and the network charge as low as a pennies and transfers in mini seconds with a confirmation message.
Conclusion:
If you want to save your money from Non-reliable Centralized Financial System, Accept Bitcoin Cash as the Medium of Exchange which is cheap reliable, Fast and easy to use!
Thumbnail link:
https://unsplash.com/photos/aX1hN4uNd-I