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 those of you who do not know what Bitcoin is let me put it this way, Bitcoin is a currency which can’t be controlled by any bank or any government, it is basically a virtual currency and may be purchased on-line utilizing real money.So then apart from being a decentralized currency what are its advantages, well you can switch bitcoin anyplace in this world without much charges, you can be a hundred% anonymous while doing transactions thanks to a technology called blockchain.So then what’s 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 however now 1 bitcoin = 6,689.35 $ that is some fairly spectacular development isn’t it?.

So how does this thing develop you could ask, well let me tell you how one can maintain a blockchain there have to be something called a ledger where all the transaction has to be noted and to turn into a block in a blockchain a hashing perform has to be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To resolve the hashing operate typically individuals used graphics cards but as time passed by bitcoin received more difficult to mine and dedicated hardware called ASIC miners have been introduced.

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

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

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

2.you can mine them in your own

Both of those methods have their own advantages and disadvantages, because bitcoin is managed by nobody it is extraordinarily unreliable in the future it might be worth 10,000$ and the next day it might drop to one hundred$. Trading essentially means buying bitcoin for real cash and praying that its worth will go up and selling it when it has gone up.This approach is very risky and chances are you’ll end up losing cash reasonably than making any profit.

Otherwise you may select to mine bitcoins, however here’s what you should consider, mining hardware is super costly and mining requires plenty of electricity,additionally mining problem is getting higher day-after-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 if you happen to know what you might be doing.

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