Whats up there,

This is my very first article right here so hopefully this gets approved, I am going to share some points 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 can't be managed by any bank or any government, it is basically a virtual currency and may be bought on-line using real money.So then apart from being a decentralized currency what are its advantages, well you can transfer bitcoin anywhere in this world without a lot charges, you may be a hundred% anonymous while doing transactions thanks to a technology called blockchain.So then what's the big thing about this you might ask, well let me inform you when it first launched it has absolutely no worth but now 1 bitcoin = 6,689.35 $ that's some pretty impressive progress is not it?.

So how does this thing grow you could ask, well let me let you know methods to maintain a blockchain there must be something called a ledger the place all the transaction has to be noted and to change into a block in a blockchain a hashing perform has to be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

To resolve the hashing function typically people used graphics cards however as time passed by bitcoin bought more tough 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 folks turn out to be 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 other than bitcoin is called altcoin, yes there are thousands of them)

2.you can mine them on your own

Each of those strategies have their own advantages and disadvantages, because bitcoin is managed by nobody it is extraordinarily unreliable at some point it may be value 10,000$ and the subsequent day it could drop to a hundred$. Trading essentially means buying bitcoin for real money and praying that its worth will go up and selling it when it has gone up.This approach could be very risky and you could find yourself dropping cash rather than making any profit.

Or you might choose to mine bitcoins, however here's what it is best to consider, mining hardware is super costly and mining requires a lot of electricity,also mining issue is getting higher day-after-day so that 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 if you know what you are doing.

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