Hiya 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 those of you who don’t 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 will be bought online utilizing real money.So then apart from being a decentralized currency what are its advantages, well you possibly can switch bitcoin anywhere in this world without much fees, you will be one hundred% anonymous while doing transactions thanks to a technology called blockchain.So then what is the big thing about this it’s possible you’ll ask, well let me tell you when it first launched it has absolutely no value but now 1 bitcoin = 6,689.35 $ that’s some pretty impressive progress isn’t it?.

So how does this thing develop it’s possible you’ll ask, well let me tell you learn how to sustain a blockchain there must be something called a ledger where all the transaction must be noted and to become a block in a blockchain a hashing perform needs to be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

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

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

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

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

2.you can mine them in your own

Both of those strategies have their own advantages and disadvantages, because bitcoin is managed by nobody it is extremely unreliable at some point it can be price 10,000$ and the following day it could drop to a hundred$. Trading essentially means shopping for bitcoin for real money and praying that its worth will go up and selling it when it has gone up.This approach may be very risky and you may end up dropping cash quite than making any profit.

Or you would possibly select to mine bitcoins, however here’s what it’s best to consider, mining hardware is super costly and mining requires a lot of electricity,additionally mining issue is getting higher day by 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 when you know what you might be doing.

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