Good day there,

This is my very first article right here so hopefully this gets approved, I am going to share some factors 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 controlled by any bank or any authorities, it is basically a virtual currency and can be purchased on-line utilizing real money.So then apart from being a decentralized currency what are its advantages, well you’ll be able to transfer bitcoin anyplace in this world without a lot fees, you might be a hundred% anonymous while doing transactions thanks to a technology called blockchain.So then what is the big thing about this you could ask, well let me inform you when it first launched it has absolutely no value however now 1 bitcoin = 6,689.35 $ that is some fairly impressive growth is not it?.

So how does this thing grow you might ask, well let me let you know tips on how to maintain a blockchain there must be something called a ledger where all of the transaction must be noted and to change into a block in a blockchain a hashing function must be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To resolve the hashing perform typically folks used graphics cards but as time passed by bitcoin acquired more tough to mine and dedicated hardware called ASIC miners have been introduced.

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

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

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

2.you’ll be able to mine them in your own

Both of these methods have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extremely unreliable at some point it could be price 10,000$ and the following day it may drop to one hundred$. Trading essentially means shopping for bitcoin for real money and praying that its value will go up and selling it when it has gone up.This approach could be very risky and chances are you’ll end up losing cash slightly than making any profit.

Or you may select to mine bitcoins, however here is what you should consider, mining hardware is super costly and mining requires lots of electricity,also mining problem is getting higher every day so that 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 if you know what you’re doing.

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