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Hiya 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 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 can be purchased online using real money.So then apart from being a decentralized currency what are its advantages, well you may transfer bitcoin anyplace in this world without much charges, you might be a hundred% 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 completely no worth however now 1 bitcoin = 6,689.35 $ that’s some pretty impressive growth is not it?.

So how does this thing develop you may ask, well let me let you know how you can sustain a blockchain there must be something called a ledger the place all of the transaction needs to be noted and to grow to be a block in a blockchain a hashing perform needs to be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To resolve the hashing function typically individuals used graphics cards however as time passed by bitcoin acquired more troublesome 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 millions of them)

2.you possibly can mine them in your own

Both of these methods have their own advantages and disadvantages, because bitcoin is managed by nobody it is extremely unreliable in the future it might be price 10,000$ and the following day it might drop to a 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 could find yourself losing cash fairly than making any profit.

Otherwise you would possibly choose to mine bitcoins, but here is what it is best to consider, mining hardware is super costly and mining requires a lot of electricity,also mining difficulty is getting higher day by day so that 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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