Cryptocurrency is a digital money built on a blockchain technology. It is designed to serve as a medium of exchange and also to solve some of the problems that fiat money (paper money) could not solve; problems like counterfeit money and so on this is not to say that Cryptocurrency do not have its own problems but I like to focus on this merit of the Cryptocurrency over fiat money.
#COUNTERFEIT #MONEY
Have you ever tried to spend your money and it was rejected not because the money is torn, old or faded but that the money is counterfeit? This was what happened to me December 2017. I took a taxi from Jos-east to Jos-north, I was seating close to the driver so when he saw me brought out one thousand naira note from my wallet, he did not wait to see my next move before he started saying “oga I no go collect that money oooo the money na fake” I was shock to hear that because someone just gave me the bunch of naira notes in my wallet; he went on to say “ I get three of them at home so I don study the money well, so that, any where I see am I know say na fake”. I had no option than to look for money (real) and paid.
One day at the bank in Akwa-Ibom state, I went to pay in money to my father’s account when I heard a man lamenting to the casher that how does he want him to explain to the person that gave him the money? As I pay close attention, I got to know that out of the bunch of money the man came to deposit, some counterfeited notes were found and destroyed by the casher, refusing to give the man the pieces but requested the man to write a new deposit slip or complete the money with (real) money. I became scared of depositing the money I was holding but later I had to just risk it.
#LESSON #LEARNED
These two experiences made me loose trust for the paper note and I had to take my time to observe the differences between the real note and counterfeited note (not very obvious differences). I respect the Cryptocurrency the more. Cryptocurrency like steem, litecoin and bitcion that are built on the blockchain technology which is base on trust and can never be counterfeited. There are only twenty-one million bitcoin in the world and will forever remain so except for lost wallets which may reduce the quantity.
#MY #WISHES
I look forward to a time where Cryptocurrency like bitcoin and steem will generally be accepted as means of payment on our street, saloon et cetera.
If you have ever faced similar problems, share your experience on the comment page below. Thanks.
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