Good day 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 these of you who do not know what Bitcoin is let me put it this way, Bitcoin is a currency which cannot be controlled by any bank or any authorities, it is basically a virtual currency and will be purchased on-line using real money.So then apart from being a decentralized currency what are its advantages, well you possibly can transfer bitcoin anywhere in this world without a lot charges, you could be one 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 tell you when it first launched it has completely no worth however now 1 bitcoin = 6,689.35 $ that's some fairly spectacular development is not it?.

So how does this thing develop you might ask, well let me tell you the way to maintain a blockchain there must be something called a ledger the place all the transaction needs to be noted and to turn out to be a block in a blockchain a hashing function must 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 got more difficult to mine and dedicated hardware called ASIC miners were introduced.

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

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

1.you may trade bitcoin/altcoin(any cryptocurrency other than bitcoin is called altcoin, sure there are literally thousands of them)

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

Both of those strategies have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extremely unreliable one day it will be price 10,000$ and the subsequent day it could drop to one hundred$. Trading essentially means buying bitcoin for real cash and praying that its worth will go up and selling it when it has gone up.This approach may be very risky and you might find yourself dropping money relatively than making any profit.

Or you would possibly choose to mine bitcoins, but here is what you must consider, mining hardware is super expensive and mining requires lots of electricity,additionally mining difficulty is getting higher on daily basis so that 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 in case you know what you might be doing.

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