Hi there there,

This is my very first article right here so hopefully this gets approved, I am going to share some points about bitcoin and blockchain.

For these of you who don’t know what Bitcoin is let me put it this way, Bitcoin is a currency which cannot be controlled by any bank or any government, it is basically a virtual currency and will be purchased on-line utilizing real money.So then apart from being a decentralized currency what are its advantages, well you’ll be able to transfer bitcoin anyplace in this world without much charges, you might be a hundred% nameless while doing transactions thanks to a technology called blockchain.So then what is the big thing about this chances are you’ll ask, well let me tell you when it first launched it has absolutely no value however now 1 bitcoin = 6,689.35 $ that’s some fairly spectacular development is not it?.

So how does this thing grow you may ask, well let me let you know the way to maintain a blockchain there have to be something called a ledger where all the transaction must be noted and to turn into a block in a blockchain a hashing perform must be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

To solve the hashing operate typically people used graphics cards but as time passed by bitcoin obtained more tough to mine and dedicated hardware called ASIC miners were introduced.

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

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

1.you may trade bitcoin/altcoin(any cryptocurrency other than bitcoin is called altcoin, sure there are thousands of them)

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

Each of these methods have their own advantages and disadvantages, because bitcoin is managed by nobody it is extraordinarily unreliable someday it might be worth 10,000$ and the subsequent day it might drop to a 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 it’s possible you’ll end up losing cash rather than making any profit.

Otherwise you would possibly choose to mine bitcoins, but here is what you must consider, mining hardware is super costly and mining requires a number of electricity,additionally mining problem is getting higher daily so that you won’t be able to get some profits without high initial investment.

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

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