Hiya 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 these 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 authorities, 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 can switch bitcoin anywhere in this world without a lot fees, you can be a hundred% nameless while doing transactions thanks to a technology called blockchain.So then what is the big thing about this chances are you'll ask, well let me tell you when it first launched it has absolutely no worth however now 1 bitcoin = 6,689.35 $ that's some fairly spectacular development isn't it?.

So how does this thing develop chances are you'll ask, well let me let you know find out how to sustain a blockchain there must be something called a ledger where all the transaction needs to be noted and to turn out to be a block in a blockchain a hashing function needs to be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

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

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

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

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

2.you'll be able to mine them in your own

Each of these methods have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extremely unreliable one day it will be worth 10,000$ and the subsequent day it may drop to 100$. Trading essentially means buying 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 might end up dropping money quite than making any profit.

Or you may select to mine bitcoins, but here's what it's best to consider, mining hardware is super costly and mining requires plenty of electricity,additionally mining problem 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 two good ways to make money should you know what you might be doing.

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