Hi there there,

This is my very first article here so hopefully this gets approved, I’m going to share some factors about bitcoin and blockchain.

For these of you who do not know what Bitcoin is let me put it this way, Bitcoin is a currency which cannot be managed by any bank or any authorities, it is basically a virtual currency and can be bought online utilizing real money.So then apart from being a decentralized currency what are its advantages, well you may transfer bitcoin anyplace in this world without much charges, you could be one hundred% anonymous while doing transactions thanks to a technology called blockchain.So then what’s the big thing about this you may ask, well let me let you know when it first launched it has completely no value however now 1 bitcoin = 6,689.35 $ that’s some fairly impressive development isn’t it?.

So how does this thing grow you might ask, well let me let you know learn how to sustain a blockchain there should be something called a ledger the place all the transaction must be noted and to develop into a block in a blockchain a hashing perform needs to be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

To resolve the hashing function typically folks used graphics cards however as time passed by bitcoin received more troublesome to mine and dedicated hardware called ASIC miners were introduced.

So individuals who spend their time and money to mine bitcoin will be rewarded in bitcoins and as more and more individuals turn into part of this blockchain its worth will increase.

so how can I make cash with bitcoin, there are ways

1.you’ll be able to trade bitcoin/altcoin(any cryptocurrency apart from bitcoin is called altcoin, yes there are thousands of them)

2.you’ll be able to mine them on your own

Each of these strategies have their own advantages and disadvantages, because bitcoin is managed by nobody it is extremely unreliable someday it can be value 10,000$ and the next day it could drop to one hundred$. Trading essentially means buying bitcoin for real money and praying that its value will go up and selling it when it has gone up.This approach is very risky and you could end up dropping money quite than making any profit.

Otherwise you might select to mine bitcoins, however here is what you should consider, mining hardware is super costly and mining requires a number of electricity,additionally mining issue is getting higher every day so you won’t be able to get some profits without high initial investment.

That being said bitcoin trading and mining are two good ways to make money for those who know what you are doing.

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