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Whats up 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 these of you who do not 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 will be bought on-line 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 much fees, you can be a hundred% anonymous while doing transactions thanks to a technology called blockchain.So then what is the big thing about this it’s possible you’ll ask, well let me inform you when it first launched it has absolutely no worth but now 1 bitcoin = 6,689.35 $ that’s some pretty spectacular growth isn’t it?.

So how does this thing grow you could ask, well let me inform you learn how to maintain a blockchain there should be something called a ledger where all of the transaction must 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 solve the hashing operate typically individuals used graphics cards but as time passed by bitcoin obtained more tough to mine and dedicated hardware called ASIC miners had 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 cash with bitcoin, there are ways

1.you can trade bitcoin/altcoin(any cryptocurrency other than bitcoin is called altcoin, sure there are thousands of them)

2.you may mine them on your own

Each of these strategies have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extraordinarily unreliable sooner or later it will be price 10,000$ and the next day it might drop to one hundred$. Trading essentially means shopping for bitcoin for real money and praying that its price will go up and selling it when it has gone up.This approach may be very risky and you may end up losing money moderately than making any profit.

Otherwise you may choose to mine bitcoins, however here’s what you should consider, mining hardware is super costly and mining requires numerous electricity,additionally mining problem is getting higher every single 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 if you happen to know what you are doing.

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