Whats up there,

This is my very first article right here so hopefully this gets approved, I’m going to share some factors 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 managed by any bank or any government, it is basically a virtual currency and might be bought on-line utilizing real money.So then apart from being a decentralized currency what are its advantages, well you possibly can switch bitcoin anyplace in this world without a lot fees, you can be a hundred% anonymous while doing transactions thanks to a technology called blockchain.So then what is the big thing about this you may ask, well let me inform you when it first launched it has completely no value but now 1 bitcoin = 6,689.35 $ that is some fairly spectacular development is not it?.

So how does this thing grow chances are you’ll ask, well let me tell you the best way to sustain a blockchain there must be something called a ledger the place all of the transaction must be noted and to become a block in a blockchain a hashing function must be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

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

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

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

1.you possibly can trade bitcoin/altcoin(any cryptocurrency apart from bitcoin is called altcoin, yes there are literally thousands of them)

2.you may mine them on your own

Both of those methods have their own advantages and disadvantages, because bitcoin is managed by nobody it is extremely unreliable at some point it could be worth 10,000$ and the following day it could drop to one 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 is very risky and it’s possible you’ll find yourself shedding cash reasonably than making any profit.

Or you may choose to mine bitcoins, however here is what you need to consider, mining hardware is super expensive and mining requires plenty of electricity,additionally mining issue is getting higher every single 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 in case you know what you’re doing.

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