Hello, Bitcoin Cash

What is Bitcoin cash?

Bitcoin cash (BCH) is a cryptocurrency. Cryptocurrencies are digital assets that are bought and sold online. Crypto, as it’s known, can be used for a variety of things, including making payments and online transactions. Bitcoin cash is not related to Bitcoin. It was created in a hard fork.

Bitcoin cash was created by a group of developers who decided that they didn’t want the Bitcoin blockchain to have any limitations on how much data can be added to it. The original Bitcoin protocol could only process a limited number of transactions per second. This limited the size of its blockchain, which is the decentralized ledger that holds all of the transaction records for the cryptocurrency.

When the developers wanted to add more transactions to the blockchain, they couldn’t do it without increasing the block size, which would have taken years to do manually. Instead, they created a new coin with the same name, but with a larger block size.

Bitcoin cash uses an identical proof-of-work system as Bitcoin, and its blockchain size is also similar.

How can you get Bitcoin Cash?

Bitcoin cash has two ways of getting it. The first is by purchasing it directly from one of the exchanges. Exchanges will either have an order book or they can be traded on an order book. In this case, traders can put their sell order on the order book and buyers can place their buy orders on the order book. The exchange will match up buyers and sellers based on the price and quantity that they want to trade. The other way that you can get Bitcoin cash is by mining it. Mining is when you use your computer to solve mathematical problems in order to validate transactions and earn new coins.

How to Store Bitcoin Cash

The safest way to store your bitcoins is in a hardware wallet like Ledger or Trezor. This way, if your computer is infected with malware, it won’t be able to steal your coins. Your private keys are stored on a device that is only connected to your computer through a USB cable. A hardware wallet also means that if your computer gets stolen, your coins won’t be compromised.

What are the pros and cons of Bitcoin cash?

Pros:

• Bitcoin cash has a larger block size than its predecessor. This means that it can handle a higher number of transactions per second. This means that transactions can be completed faster, which can make the network more secure.
• Bitcoin cash was created because some developers didn’t want to see the limitations placed on the original Bitcoin blockchain.
• Bitcoin cash uses a proof-of-work system like its predecessor. This means that the network will still be secured through the amount of computing power being used to mine new coins.

Cons:

• The original Bitcoin protocol had been working fine. This means that there wasn’t really a need for a larger block size.
• Bitcoin cash is a separate cryptocurrency from its predecessor. This means that you won’t be able to use both interchangeably on the same wallet or exchange.

What can you do with Bitcoin cash?

Bitcoin cash can be used in all of the ways that other cryptocurrencies can be used, including paying for goods and services online, transferring money to others, and investing. The biggest advantage is that it allows for faster transactions and is cheaper to transact than its predecessor. This makes it a better choice for smaller purchases or when you’re just trying to pay someone back for something.

You can use BCH in the same way that you’d use other cryptocurrencies. You can transfer it to others, invest in it, or use it to pay for goods and services.

One activity growing in popularity is using Bitcoin cash in casinos. Casinos accept cryptocurrencies as payment so that you can gamble using BCH. You’ll find that most casinos will allow you to deposit and withdraw in BCH. There are plenty of bitcoin cash casinos in operation and most of them are reputable.

I Bought Some Crypto. It Wasn’t So Bad.

Yesterday I did something I swore I wouldn’t do for as long as I lived. I bought some Crypto.

It wasn’t so bad.

My friends Tom and Kate have been egging me on for months. Years, even. I call them the “crypto couple” because at dinner parties and even just when hanging out, cryptocurrency is all they talk about. Not really all I guess, but enough that it seems like it.

Tom has been sending me WhatsApp messages for the past few months about something called “The Merge.” I guess anyone who’s reading this and already knows about crypto knows what this is. But I didn’t. So here’s a little explanation for crypto newbs like me.

Ethereum (symbol: ETH) is the second most popular crypto currency out there and on September 15, they completed a long-awaited change from something called “proof of work” to “proof of stake.” This is basically a major change in the way that the Ethereum system validates transactions on the network. The headline behind the headline is that it also reduces energy consumption by 99%. CNN has an explanation video that gives much more detail.

This whole change has been called “The Merge” by many and it’s been a big deal.

For me, not that big of a deal.

But because Tom and Kate have been discussing it so much lately it got me to start thinking that maybe it was finally time to start thinking about buying some crypto. And that’s what I did this week.

I opened an account at CoinBase, which T and K said was good for beginner crypto buyers like me. After going through a lot of steps for validating my account, I was ready to go. It was annoying at times to provide all the documentation that I am me but I guess they’ve got to do it and it was no more difficult than doing the same thing in person at the bank.

The next thing I did was transfer some money into the account. I’m a little shy when it comes to investing money in anything. You should see how old my car is and don’t get me started on the age of the appliances in my home. I decided to start with $250, which I deposited via credit card. It seemed like the fastest way to dip my toe into the water.

I was immediately disappointed to learn that I wouldn’t be able to buy a whole Ethereum, because even after the “Merge” one single ETH costs about $1,400. I was able to buy a fraction of an Ethereum, however. It cost me around $140 for 0.1 ETH. I was finally a crypto trader!

With the rest of my money, I bought an even smaller amount of Bitcoin. Bitcoin (BTC) costs just under $20,000 per coin, and it’s going to be a long time before I would even dream of owning a whole Bitcoin. But I’ll be happy with my tiny little fraction of a Bitcoin for now.

I considered buying some other cryptos. Some were recommendations from Kate and some were ones that just looked good to me. But because I was a little shy about all of this, I decided to wait. Also, not all of them were available through Coinbase. Tom recommended getting an account on Binance, another exchange that is even bigger, but I’m good with just one for now.

The coins on my maybe list? Well, I looked at something called Polka Dot (DOT) which supposedly helps different blockchains work better together. I’m not even sure what that means, but Kate said it is going to be a big deal in the future. The second one I looked at was called Cardano (ADA) and to be completely honest I have no idea what it does. The last one Tom and Kate hadn’t even heard of. It’s called SNACK and it’s not available on Coinbase. I had seen it on the jerseys of my favorite soccer team and thought it had a great name.

I guess it’s a good idea I’m only spending $250 on cryptocurrency!

So what’s next for me? I think I’m going to just sit back and see what happens with my crypto empire. I’ll be happy if I just don’t lose any money from my Bitcoin and Ethereum purchase. I’m not planning on being a crypto millionaire anytime soon, but it’s nice to have a piece of the action for now.