Long time ago, people exchange goods from one item for another, this is know as bartering.
Let’s say, I own a ranch and grew cattle for meat and milk.
While you is a farmer who grew corn or wheat.
If I want a 100 sack of wheat, I will gave you a one cattle as exchange.
However, the problem with barter system though is there’s no accurate measurement of value.
Meaning, no based of value.
Possibly, other wheat grower may change 1 cattle for 50 sack of wheat.
There may be a defamation or deprivation.
So people created fiat currency and the market knows what value of money is. Instead of paying someone with goods, you just need to pay them money.
However, the problem is fiat currency is, it's not really back with real value yet it was declared by the government as legal tender.
It's value is only derive from the relationship between supply and demand.
Risk of fiat currency is that it only rely on the people confidence and the nation backing it, instances of hyperinflation will literally destroys it.
Think what happen to Argentina a decade ago, Venezuela recently who live in a hyperinflation nightmare.
There are some instances that the government itself will intentionally devalued its fiat currency.
In our present times, the actual rates and values assigned to each individual fiat currency are manipulated and rigged.
People start losing confidence in the government and their money supply, a reason why cryptocurrency was created.
The idea behind cryptocurrency is that this is digitally mined and supply are limited, a rise of bitcoin and other cryptocurrency.
In a few year Bitcoin become popular as fiat currency alternative, then become value storage.
However, due Bitcoin high transaction fee, slow confirmation and the concern of privacy.
Another ambitious project was born fix a major weakness found in bitcoin and other old cryptocurrency, specifically designed with mass adoption & fungibility in mind, the SmartCash.
SmartCash comes featuring instantpay, and embraces right to privacy.
Aside from that, SmartCash also offer dividends to it's member.
If you would like to learn more about SmartCash please visit;
Official Website:
https://smartcash.cc/
Official Wallet :
https://smartcash.cc/wallets/
SmartRewards Guide :
https://forum.smartcash.cc/t/smartrewards-guide/125
SmartRewards FAQ’s
https://smartcash.cc/what-are-smartrewards/#toggle-id-2
Mining Pool :
http://pool.smartcash.cc/
Mining Guide :
https://steemit.com/smartcash/@hockleyj/smartcash-mining-on-pool-a-visual-guide-on-how-to-set-it-up
Discord Channel:
https://discordapp.com/invite/BDUh8jr
Smartcard is coming out soon bro :D That will make things so much easier!!
Making SmartCash a best cryptocurrency for payment... thanks bro...
Great post mate I enjoyed reading it
Thank you so much bro...
@smartbot tip @cloudspyder 15
Σ$$$ Tipped @cloudspyder
Σ15 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.276 USDperSMART. Current value of the tip is$4.14 USD. To find out more about SmartCash, please visit https://smartcash.cc.@smartbot balance
You have
Σ15 SMART(unconfirmed:Σ0 SMART).