Howdy there,

This is my very first article 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 cannot be controlled by any bank or any government, it is basically a virtual currency and will be purchased online utilizing real money.So then apart from being a decentralized currency what are its advantages, well you’ll be able to transfer bitcoin anywhere in this world without much fees, you could be 100% nameless while doing transactions thanks to a technology called blockchain.So then what is the big thing about this you may ask, well let me let you know when it first launched it has absolutely no value however now 1 bitcoin = 6,689.35 $ that’s some pretty spectacular development is not it?.

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

To solve the hashing operate typically folks used graphics cards however as time passed by bitcoin got more troublesome to mine and dedicated hardware called ASIC miners had been introduced.

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

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

1.you may trade bitcoin/altcoin(any cryptocurrency aside from bitcoin is called altcoin, sure there are millions of them)

2.you can mine them on your own

Each of those methods have their own advantages and disadvantages, because bitcoin is managed by nobody it is extremely unreliable one day it could be value 10,000$ and the subsequent day it could drop to one hundred$. Trading essentially means shopping for 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 may end up shedding money rather than making any profit.

Or you may select to mine bitcoins, but here’s what you should consider, mining hardware is super costly and mining requires numerous electricity,additionally mining issue is getting higher each day so 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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