Before anything else, I want to make a quick recap about Bitcoin and Bitcoin Cash so that new users of this platform, especially those who came from noisecash will know the difference between these two cryptocurrencies well, why Bitcoin Cash was created and why did I call it,
“THE COIN OF THE PEOPLE, THE REAL BITCOIN.”
Satoshi Nakamoto released Bitcoin’s white paper in 2009, it simply stated: Bitcoin: A Peer-to-Peer Electronic Cash System.
Based on the white paper’s abstract, it provides a strong case for the invention of a new online payment system. Bitcoin’s idea was to create an electronic payment system based on cryptographic proof NOT trust, where two involved parties can directly transact with each other without the need for third parties. The third parties always have disputes as well as the inefficient payment processors.
To tackle the issue of the real world, Satoshi launched the first Bitcoin client in 2009 and handed the project off to the community in 2010, from then, it became the open-source of study, work, and desires for millions across the world and a revolution in the world of fintech.
When Bitcoin introduced in the market, it gradually attracts many investors, both small and big investors. The early Bitcoin adapters thought that the coin is the solution to the real-world problem. As years go by, more and more people get on board, driving the coin’s price higher.
Going back to the abstract of the white paper, Satoshi aimed to solve the issue of the real world’s payments system, and he aimed for Bitcoin to be USE BY THE PEOPLE. However, as the price of Bitcoin increases, along with it is the increase of transaction fees, scalability issues, and slower transaction speed.
Now the question is, did Bitcoin followed what is written in Satoshi’s white paper?
A BIG NO!
Bitcoin was MEANT to be a peer-to-peer digital currency for daily transactions as proposed by the inventor of the coin, Satoshi Nakamoto. But over the years, as its price surged, Bitcoin became an INVESTMENT VEHICLE ONLY AND NOT A CURRENCY. Its blockchain experienced a scalability issue and could not handle the increasing number of transactions. The transaction speed dropped and the fee also surged because of its limitation of 1MB block size of Bitcoin.
How did Bitcoin Cash solve the issue of Bitcoin?
As a result, in 2017, that was two years before Bitcoin turns to decade-year-old, it underwent a ‘fork‘, and Bitcoin Cash was created which caused controversy in the crypto community. Some people in the Bitcoin community called the ‘miners‘ proposed to remedy Bitcoin’s scalability issue by increasing its block size to 8 MB and further increased to 32 MB. It enabled to process more transactions per second, with a transaction speed that is much faster than Bitcoin and a transaction fee that won’t even cost a single dollar.
Bitcoin Cash Main Advantages
Bitcoin Cash is the Real Bitcoin
BITCOIN CASH was the FIRST fork of Bitcoin that FOLLOWED THE ORIGINAL VISION of payment service proposed by Satoshi Nakamoto.
It is the real Bitcoin because it implemented the peer-to-peer (P2P) electronic cash system. The coin that can be used by the people in daily transactions with affordable price, lower fees, and fast transaction speed.
Mr. Toorik, a great supporter of BCH on noisecash also posted the same thought that Bitcoin Cash is the real Bitcoin.
@RogerVer who is a strong supporter of Bitcoin Cash and the man behind the creation of Bitcoin Cash always reminds people that it is the coin that followed the peer-to-peer electronic cash system that is written in Satoshi’s white paper, that it is the real Bitcoin.
Many people are still blinded by the truth because what they only saw is the huge price of Bitcoin, that it is the king of cryptocurrencies, that it is the most stable crypto. They don’t accept the fact that the real coin with a peer-to-peer system is Bitcoin Cash.
Bitcoin Cash is the “COIN OF THE PEOPLE”
Now let me ask Bitcoin supporters here, do you use Bitcoin in daily transactions?
I bet your answer is NO!
That is because of its huge transaction fee and slow transaction speed. Bitcoin is just their investment vehicle, good for holding, but not a real currency that can be useful in their daily lives. Moreover, its huge price makes it not affordable for the small investors, that’s why we call it the “coin for the rich people only.”
But Bitcoin Cash provided everything for the people and everyone, everywhere can use it.
Why Choose Bitcoin Cash?
Bitcoin Cash offers the best services for the people and that’s the advantage of the peer-to-peer electronic system.
- Send payment to your friends directly. You don’t need to go to the bank to make payments. The transaction is fast and the payment will go directly to both of you.
- Spend money straight from your phone. Wanna buy a new gadget or grab a coffee? Bitcoin Cash has increasing participating websites and stores, and even vending machines. You can simply search it to find out, and just scan the QR code to pay using BCH.
- Send remittance abroad almost for free. Compare to sending remittances at the banks which takes up to 6.8% charges, sending Bitcoin Cash only costs a few penny, and it fast too.
- Pay online without a card. If you are a person who doesn’t want to travel far or take a long queue, then Bitcoin Cash is best for you. You can simply pay online without any credit cards or bank accounts.
- Students can also benefit from this advantage due to the lack of credentials or a valid ID. They can simply withdraw or send money to their family or friends without a need for ID or bank accounts.
- Safer storage. Scammers are everywhere and they sometimes pretend to be your bank, Bitcoin Cash removes the use of third parties to fix this trust issue.
- Pay with the privacy. Compare to banks where your identities and history are tied, Bitcoin Cash will provide you privacy. Payments can be sent privately and nobody will know who you are.
Merchants can also benefit from adopting Bitcoin Cash:
- Ultra-low fees and no chargebacks. The transaction fee of using Bitcoin Cash won’t cost a single dollar. Bitcoin Cash trans-fee in converting to fiat currency through merchant’s processor is also very low and there are no chargebacks compare to the credit card processing.
- Free marketing and press to gain new customers. More merchants chose Bitcoin Cash as a payment method as it has low trans fees and fast transaction speed. They can also get free listings in website and app directories, and take advantage of this new trend and generate press for their business.
Is Bitcoin Cash A Good Investment?
- With all the advantages of Bitcoin Cash I have listed above, is there any reason not to invest in Bitcoin Cash? If there is, you can comment your answer below and let’s discuss about it.
Why hold Bitcoin Cash?
Bitcoin Cash has a maximum supply of 21,000,000 BCH and a circulating supply of 18,649,644 BCH, and to own at least 1BCH is a great privilege.
Some are worried every time its price goes down but in my seven months of staying in the crypto world, I learned that in every pump, there is a dump, and after a drastic drop is a surge. And we should not worried about the drop, instead take it as an advantage to accumulate more Bitcoin Cash.
As I have always told others inside and outside this platform, “the price doesn’t matter, but the strong fundamentals and its supportive community.” For as long as there is a strong community and projects are increasing, Bitcoin Cash will always be here.
How Can We Help To Boost Bitcoin Cash’s Price?
The answer is very simple, ADOPTION AND SPREAD BCH AWARENESS.
In adopting Bitcoin Cash, it doesn’t only mean holding your BCH in your wallet. To get the real adoption, you can use BCH in your daily life transactions like:
- Sending money to your friends or family.
- Using BCH as a form of payment online.
- Paying BCH in any stores, restaurants, or other establishments accepting BCH.
- Accept BCH as a form of payment for your online stores or businesses.
And in case you have missed it, I also made an article about a guide for the #BitcoinCash awareness campaign. You can click the link below to get ideas on how to spread #BitcoinCash awareness in your place.
A Guide for #BitcoinCash Awareness Campaign
Bitcoin Cash is the coin of the people and the money for the world. Just have faith in #BitcoinCash and your future will be secured.
Now, if you haven’t set your goal yet, it’s your time to make it. If you still doubt Bitcoin Cash, then read again this article from top to bottom.
If you want to learn more about Bitcoin Cash, you can visit this link:
And Bitcoin Cash blog site of @georgedonnelly in this link:
For the lists of projects, you can visit this link: https://www.bitcoincash.org/projects/
For the lists of services, you can visit this link: https://www.bitcoincash.org/services/
Be part of our #Club1BCH. We aim not only to reach 1 BCH or more, but we also help those who are optimistic to reach their BCH goals.