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 controlled by any bank or any authorities, it is basically a virtual currency and could be purchased on-line using 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 much charges, you could be 100% 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 tell you 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 develop chances are you’ll ask, well let me inform you the right way to sustain a blockchain there must be something called a ledger the place all of the transaction has to be noted and to develop into a block in a blockchain a hashing perform has to be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To solve the hashing function typically individuals used graphics cards however as time passed by bitcoin got more difficult to mine and dedicated hardware called ASIC miners had been introduced.

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

so how can I make cash 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 can mine them on your own

Both of those methods have their own advantages and disadvantages, because bitcoin is managed by nobody it is extraordinarily unreliable in the future it may be price 10,000$ and the subsequent day it might drop to one hundred$. Trading essentially means buying bitcoin for real cash and praying that its price will go up and selling it when it has gone up.This approach could be very risky and you might end up shedding money rather than making any profit.

Otherwise you would possibly choose to mine bitcoins, however here’s what you need to consider, mining hardware is super expensive and mining requires plenty of electricity,additionally mining issue is getting higher day-after-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 for those who know what you might be doing.

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