I have read that cryptocurrency is the future.
I have been experimenting with cryptocurrencies by earning on cryptocurrency-based content publishing platforms. I have also earned by using the Brave browser's reward program. I have also tested Presearch, a search engine that returns some crypto tokens while searching.
I haven’t invested in any cryptocurrency. My hardcore programmer friend, a permanent resident of the US since 1987, had watched the development of Bitcoin etc. He never invested any money on cryptocurrency. He is happy investing in the stock market.
He smiled when I told my American friend about earning cryptocurrencies by blogging. I told him, "It is real; people are getting Bitcoin Cash and are converting them to fiat."
I had read some cryptocurrency whitepapers and more
I have been reading and knowing about the technology of cryptocurrency since 2017. I, along with a like-minded person from Europe, who has a strong background in engineering, studied a lot from 2017 – to 2019.
We have interacted with a cryptocurrency startup based in Singapore. They have been innovating on smart contract using Ethereum. They also developed their cryptocurrency and have collected a good sum of funding.
We have ghostwritten several tech blogs on Medium for their superior smart contract. The use case could not yet come to real-world applications. My European friend and I didn't try to implement their crypto token for any smart contract application by our own hands.
Today, I am earning token Bitcoin Cash by blogging
Reading, writing, and telling people about cryptocurrency is one thing. Earning cryptocurrencies or converting fiat money to cryptocurrencies is another thing.
Graphics: A screenshot of a part of the BCH Logo download page.
Today, I have decided to try hands-on testing at least one Bitcoin Cash payment.
I buy all grocery items from a nearby grocery shop. The shop owner's father created the shop some seventy-five years ago. The shop owner's son (say Bittu is his name) is a freshly passed out mechanical engineer. Bittu didn't get a suitable job. So, he is helping his father in running the grocery shop.
Today I have decided in paying with Bitcoin Cash
When I reach the grocery shop, Bittu is going out on his two-wheeler, a scooter. I have told him, "Bittu, today I will try to pay using Bitcoin Cash." Bittu smiles like my American friend. I am adamant. So, I have made him create an account on a popular cryptocurrency exchange.
I have shown Bittu how to share with me his deposit Bitcoin Cash address. He has shared the BCH address immediately. I have selected a few items, such as one litre mustard oil, soaps, tooth paste, etc. That totals a cost of approximately INR362 or US$4.73.
I have logged into my ReadCash account and initiated payment to Bittu's BCH address. The payment GUI on ReadCash points to Blockchair-dot-Com to check the status of the transaction status.
Payment of US$4.73 by BCH has taken almost 47 minutes
Bittu is still smiling and looking at my face. He probably knows what will be the result. Bittu's smiling face hints at something I don't want to result.
The waiting is too long. The shopkeeper boy then takes his scooter and has gone out for his work. He returns after half an hour or so. He is nodding his head with a sign of denial. The payment of US$4.73 arrived to Bittu’s BCH wallet after almost 47 long minutes!
Bittu again smiles and has gone inside their grocery shop to entertain new customers. My Bitcoin Cash micro-payment has eaten up a long time. I don't have anything to say to the young boy of 23. I am not an expert on cryptocurrency transactions. I can only expect the process of cryptocurrency transactions may have to improve.
Closing remarks and questions
Maybe, I am a newbie and do not know how to manage cryptocurrency transactions.
Maybe, the wallet chosen is not the right one. Wallets of different cryptocurrency exchanges may take different processing times.
Maybe, the amount of cryptocurrency has got a role in transaction time.
There could be many more reasons, and I wish to know.
Will anybody give some clue how cryptocurrency micropayments may be done fast for BCH and other cryptocurrencies?
I practice Science, Technology, Engineering, and Mathematics (STEM). I have also added, "Arts" and "Fine Art" to my interests. So, my current interests become STEAM - Science, Technology, Engineering, Arts, and Mathematics.
I actively develop solutions for password and cybersecurity relevant to cryptocurrencies, blockchain, and other block-less distributed ledgers.
Originally posted on read.cash.
Cheers! Debesh Choudhury
Text Copyright © 2022 Debesh Choudhury — All Rights Reserved
All other graphics and videos are credited just below it.
Disclaimer: All texts are mine and original. Any similarity and resemblance to any other content are purely accidental. The article is not advice for life, career, business, or investment. Do your research before adopting any options.
April 02, 2022.