Howdy there,

This is my very first article right here so hopefully this gets approved, I’m going to share some points about bitcoin and blockchain.

For those of you who don’t 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 online using real money.So then apart from being a decentralized currency what are its advantages, well you’ll be able to transfer bitcoin anywhere in this world without much fees, you will be 100% anonymous while doing transactions thanks to a technology called blockchain.So then what’s the big thing about this you could ask, well let me let you know when it first launched it has completely no value however now 1 bitcoin = 6,689.35 $ that is some pretty spectacular progress isn’t it?.

So how does this thing develop it’s possible you’ll ask, well let me let you know the way to sustain a blockchain there have to be something called a ledger where all the transaction has to be noted and to turn into a block in a blockchain a hashing operate must 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 acquired more difficult 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 folks change into part of this blockchain its value will increase.

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

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

2.you possibly can mine them in your own

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

Otherwise you may select to mine bitcoins, however here’s what you must consider, mining hardware is super costly and mining requires plenty of electricity,additionally mining difficulty is getting higher daily 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 the event you know what you might be doing.

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