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 these of you who don't 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 might be bought online utilizing real money.So then apart from being a decentralized currency what are its advantages, well you may switch bitcoin anyplace in this world without a lot charges, you may be one hundred% anonymous while doing transactions thanks to a technology called blockchain.So then what's the big thing about this chances are you'll ask, well let me inform you when it first launched it has completely no value however now 1 bitcoin = 6,689.35 $ that is some fairly impressive development isn't it?.

So how does this thing develop you might ask, well let me let you know methods to maintain 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 operate needs to be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

To unravel the hashing operate typically people used graphics cards but as time passed by bitcoin bought more difficult to mine and dedicated hardware called ASIC miners had been introduced.

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

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

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

2.you may mine them on your own

Both of those strategies have their own advantages and disadvantages, because bitcoin is managed by nobody it is extremely unreliable in the future it can be price 10,000$ and the subsequent day it might drop to a hundred$. 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 is very risky and you might end up shedding money quite than making any profit.

Or you would possibly select to mine bitcoins, but here's what it is best to consider, mining hardware is super costly and mining requires lots of electricity,also mining issue 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 in case you know what you might be doing.

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