Good day there,

This is my very first article here so hopefully this gets approved, I’m 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 authorities, it is basically a virtual currency and might be bought on-line using real money.So then apart from being a decentralized currency what are its advantages, well you possibly can switch bitcoin wherever 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 completely no worth but now 1 bitcoin = 6,689.35 $ that’s some fairly impressive progress is not it?.

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

To solve the hashing function typically individuals used graphics cards however as time passed by bitcoin obtained more tough to mine and dedicated hardware called ASIC miners had been introduced.

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

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

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

2.you may mine them in your own

Both of these strategies have their own advantages and disadvantages, because bitcoin is managed by nobody it is extraordinarily unreliable at some point it may be price 10,000$ and the following day it might drop to 100$. Trading essentially means buying bitcoin for real money and praying that its price will go up and selling it when it has gone up.This approach could be very risky and you could find yourself losing money somewhat than making any profit.

Otherwise you might select to mine bitcoins, but here’s what you should consider, mining hardware is super costly and mining requires numerous electricity,also 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 good ways to make money should you know what you might be doing.

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