SmartCash? What The Hell Is That?
Think of the following text as two people speaking to one another
Heard you wanted to get into cryptocurrencies!
“Yes, I do! But I have no idea what to buy or what not to buy…”
Have you checked bitcoin and Ethereum?
“Yes I did, but now I’m reading some info about this crypto called SmartCash, but I still don’t understand it completely”
Well, if you want I can explain it to you
“Yes, please do explain!”
SmartCash or SMART is a community-backed coin with a max supply of 5 billion coins, at this moment is being traded at $0,24.
“Community-backed coin?”
By having SmartCash you can vote on the future of the currency, you can take charge of where the coin is going and where it’s not going, as long as you are part of the community you have a say in the future of the coin, to this we call SmartVoting!
“What about the team?”
We have a well-diversified decentralized team without a core. That makes it so SmartCash can’t be corrupt by a central corporation! The HiveTeam.
“Ok I get it, what about speed”
Speed? SmartCash is averaging about 65 transactions per hour, which means a transaction takes around 55 seconds to be made, which is much faster than Bitcoin.
“That’s still not much…”
Yes, it’s not much YET! A superb team of developers is working on it as we speak, one of the things that SmartCash is aiming for is that it’s supposed to be fast, extremely FAST! In 2018 they want to release InstantPay, which is supposed to make SmartCash an instant paying system, so that you can buy you coffee, magazines, gas, water, anything you want instantly, even faster than VISA.
“What about fees?”
Fees? The transaction fee is around 0.02SMART, which means you can make 20.000 transactions for around 10$.
“Ok, I’m getting interested, how can I get SmartCash?”
SmartCash works on a Proof-of-work system, which means that you can mine it if you want to, however, you won’t get the full amount of coins that you mined. A percentage of the mining reward is allocated for SmartRewards – People that have more than 1000 Smarts can start earning more Smart passively, this encourages long-term Smart holders! A percentage is also allocated for SmartNodes – People that have 10.000 Smart can get a Smartnode server up and running and get even more Smart passively!
You can also buy Smart from some exchanges, like Coinexchange for example.
“And where can I store my Smart?”
Smart has a really good and secure online wallet, I’ve used it and it’s extremely easy to use even if you are not that “SMART”… And it also has some other wallets that you can use!
“Is it being used right now in any store?”
Yes, at the moment it’s being used by 28 merchants.
“You talked about InstantPay, are they planning anything else for 2018?”
For 2018 they want to start a 24-hour support line, atomic swaps where you can change one crypto for another without third parties, easier to start SmartNodes, a Smartcard where you can pay stuff with a physical Smart card, invisible addresses, and much more!
“I’m convinced! I’m getting on that SmartCash action next!”
You should! It would be a very “smart” move!
Question of the day: What is the thing that you most enjoy about SmartCash?
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First time writing about smartcash, hope I didn't give out any wrong information, also, most of the images were done by me using gimp, I'm still very noob at using it, hope you guys enjoy them, especially the cool SmartCash divider!
You've been studying I see!! Extremely well composed!!
You gotta teach me how to take the pictures to the side btw!! I haven't been able to figure out the markdown code for this.
First tip... stop using markdown, start using html, the first 2 or 3 times it's hard, after that it's almost instinct, i edited this whole thing without looking once at how it was going to be, only looked at it in the end
Wait, how do you change from using Markdown styling? I didn't even know you could do that.
Ok ok, you both hang on a couple of hours/days, i will do a tutorial on how to do it very soon...
Made a video about it go check it out
Made a video about it go check it out!
The video isn't loading :( I don't if it's my net being crap or what. Will try again in a few hours.
It's not your net... it's probably dtube, dtube still has way to many problems...
Yeah I guess so.
How did you hear about SmartCash? Are you currently running a node?
Not running a node since i only have like 20 smarts, trying to get more atm...
Heard about SmartCash from Smartcash's number 1 fan - @simplifylife, the community is amazing, if you want to join the discord here it is, they are an awesome community and they always answer your questions, join us, join the
dark sidesmartcash communityI'll consider it. I have a lot of projects that I'm working on and they all need time. I'm (of course) looking for profitability. The charts I looked at showed that it would take around 2 years to get 100% ROI on a node. That's not great. We'll see. I'll bet if I took the time to hop in the discussion I could learn more about it and how people are making it profitable.
You can earn lots of Smartcash just posting and talking about it... i didn't buy those 20 Smarts, and i only started getting into it a few days ago
Have you taken into consideration you also get smart rewards on those 10,000 SMARTs while you also earn the node payouts? That might make the time much less than 2 years, I haven't done the math myself though.
No, I haven't looked into it enough to calculate the variables and see how long it would be. I mean, if I could use a laptop to run a node, and it took $2,500 to get started, if I could get my money back within a year, that wouldn't be too bad.
But you would still HAVE your money. I mean after you buy those 10,000 smartcash, that's yours. Setting up a node doesn't mean you lose access to those 10k smarts. You can trade them whenever you want, but then you won't receive the node rewards anymore, that's all.
That's true.
That makes sense. I'm not saying it's a bad idea. I'm just wary of tying up capital like that right now. Could be a bad move. We'll see.
Thanks for engaging. I appreciate it. It sounds like it's a cool system. I just need to do more research to see if it makes sense for me to add right now. Take it easy! :)
Of course man. You should always do your own research :)
I have been thinking on which other crypto to invest, advice from some friends where EOS, STEEM. This Smartcash sounds interesting from your detailed write up.
Thanks EOS is also one of those that i want to buy :)
Its a project that drive away hell and promote freedom to everyone.
Exactly!! I especially like the voting part and no central core to corrupt part.
Thanks for reading!
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