Bitcoin Cash CRYPTO&ME

Sending bitcoin cash as a birthday present. Live. Also bit about the fork in August.

Today I remembered my dear niece is turning 25. I spend summer with her in Czech Republic, and she saw myself getting deeper into cryptocurrency.

 

As you might to know, of most likely you do not know, on August 1st, there was a fork.

What that means? Well, simplified, lets say, that bitcoin stopped to be what it meant to be.  Peer to peer electronic cash.  Because bitcoin is decentralized, there is not a central authority. Nobody to obey. Not a single person is making decisions.  And the community could not come to agreement of whats next. As Bitcoin gained more popularity, there is a need to scale. Means, it has to be possible to use is widely, keep the coast of transactions cheap, and quick.  That was no more possible with the legacy bitcoin. It took ages to confirm the transaction and fees were high.

This is possible to solve with increasing the block size. From some reason, this simple solution was not agreed, or loved by enough people. (Can we maybe see corporate take over there? Centralization? Banks wanting their piece of cake?)

They call it scaling debate. It took years, and nothing happened. So, people, who know, or believe, that bitcoin is electronic cash, for the people, not just a store of value for the wealthy once, forked of the legacy bitcoin. And created Bitcoin Cash.

 

They raised the block size to 8Mb. They took away the Segwit. (Segregated Wittnes). Bitcoin Cash is continuation of the original vision created by Satoshi Nakamoto, as peer-to-peer electronic cash. And it works.

 

In the video below, I am sending bit of BCH to my niece.  I wrote her that I would like to send her some, if she can download a wallet. I made a tutorial about Unit wallet and I sent her the link. She did so. Then I got the idea, I could make the transaction live. So I did.

 

As usually, the kids came along. We sang her birthday song together, and the rest is about sending the money from my Exodus desktop wallet, to her Unit wallet. She send me email with her address (easy from Unit wallet) and I open my email, copy the link, pasted to my Exodus wallet and sent.

 

I wanted make sure, that it arrived, so there is some talk in-between. I also mention the  Yours.org platform for content creators, where we are rewarded in BCH.

Then she confirmed she has it. So, my niece is in the cryptoworld now. 🙂 (my other one too, as I gave a bit of bitcoin as present to her husband, on paper wallet. They too have a bitcoin cash, as it was before the fork, maybe next video will be about how to extract Bitcoin Cash from paper wallet )

 

I am witnessing a curve in my live, I am artist, but most of my time is now studying, learning bitcoin. And It looks I have a lot of joy. I am finally getting a clue.  People starting to ask me about it, and compare the masses, I have some knowledge. I am newbie compare to bitcoiners, but I know now, where to go to learn more.  There are people, who are waking up into cryptocurency world and finding it overwhelming, I would like to serve those as a bridge. For some time, I felt not confident enough, but that is changing slowly. I am meeting people giving talk about bitcoin in public space, misleading information, full of confidence. And slowly, it is making me to go more out with what I learned and what I value.

 

I believe and know, that cryptocurrency can change the world and money as we know it, and I am experiencing myself to contributing to this revolution. 

 

May good things keep happening!

 

No Comments

Leave a Reply