Hello there,

This is my very first article here so hopefully this gets approved, I am going to share some factors 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 bought online utilizing real money.So then apart from being a decentralized currency what are its advantages, well you’ll be able to switch bitcoin wherever in this world without a lot fees, you could be a hundred% anonymous while doing transactions thanks to a technology called blockchain.So then what is the big thing about this chances are you’ll ask, well let me tell you when it first launched it has absolutely no value however now 1 bitcoin = 6,689.35 $ that is some fairly impressive development is not it?.

So how does this thing develop chances are you’ll ask, well let me tell you how to maintain a blockchain there have to be something called a ledger where all of the transaction has to be noted and to grow to be a block in a blockchain a hashing operate must be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To resolve the hashing operate typically folks used graphics cards however as time passed by bitcoin received 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 develop into part of this blockchain its worth will increase.

so how can I make cash 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 in your own

Each of those methods have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extraordinarily unreliable sooner or later it might be worth 10,000$ and the next day it could drop to a hundred$. Trading essentially means shopping for 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 may end up losing money quite than making any profit.

Or you would possibly select to mine bitcoins, but here’s what you need to consider, mining hardware is super expensive and mining requires lots of electricity,also mining difficulty is getting higher every day so 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 money in case you know what you might be doing.

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