The advantages of BSV versus a local currency
The main difference between Bitcoin (SV) and government currencies is that Bitcoin is deflationary. This is an economic term to indicate something that the longer it stays more valuable (the rarer) it becomes because the amount in circulation does not increase. With the government money, on the contrary, the opposite happens: the longer it is maintained, the less valuable it becomes, because over time more and more bills are printed.
For a visualization of this, we recommend this tool that allows you to calculate how much government money has depreciated over the years.
If I had $ 1 in 1970, today I would need $ 5 to buy the same amount of things that $ 1 allowed me to buy again. In other words, in almost 50 years, the US dollar has depreciated 5 times. If you had $ 100k in 1970 and decided to save, today you could buy 5 times less than you would buy in 1970.
With Bitcoin (SV) you are protected from this phenomenon. If Bitcoin (SV) was used as a global currency in 1970 in parallel with the USD, and you had saved $ 100k at that time, today that amount of BSV would be worth $ 500k.
Do not convert your bitcoin money to the government currency
This is the money you earn through hard work. If your hard work is worth $ 100 today, those who receive a payment in USD must spend it quickly to recover the same quality or quantity of services that they offered to earn that money.
On the other hand, those who receive bitcoin cash payments can spend their money at any time and always receive the same amount of service, if not better, than the amount of service / work they had to deliver to earn that money.
In other words, by using government money, you are allowing society to devalue the work you did in the past, so you always have to work more and more. When using Bitcoin Cash, due to its deflationary nature, no one can devalue the work he did, even if it was 50 years ago.
For this reason, I strongly recommend that you do not convert your money into bitcoin to fiat, but spend it as such and save the rest. If no local company in your area accepts bitcoin cash, we recommend that you keep it for online purchases exclusively for now until it becomes more popular in your area.
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