Hey 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 can’t be controlled by any bank or any government, it is basically a virtual currency and can be bought on-line utilizing real money.So then apart from being a decentralized currency what are its advantages, well you’ll be able to switch bitcoin anyplace in this world without a lot charges, you could be a hundred% 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 fairly spectacular growth is not it?.

So how does this thing grow chances are you’ll ask, well let me let you know how one can maintain a blockchain there should be something called a ledger where all the transaction has to be noted and to grow to be a block in a blockchain a hashing operate must be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To resolve the hashing operate typically folks used graphics cards however as time passed by bitcoin got more difficult 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 folks develop into 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 other than bitcoin is called altcoin, yes there are thousands of them)

2.you possibly can mine them in your own

Each of those methods have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extremely unreliable one day it will be value 10,000$ and the next day it may drop to 100$. Trading essentially means shopping for bitcoin for real cash and praying that its value will go up and selling it when it has gone up.This approach may be very risky and you could find yourself shedding money quite than making any profit.

Or you would possibly choose to mine bitcoins, but here is what you must consider, mining hardware is super costly and mining requires lots of electricity,additionally mining difficulty is getting higher on daily basis 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 cash for those who know what you might be doing.

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