Whats up there,

This is my very first article 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 cannot be controlled by any bank or any authorities, it is basically a virtual currency and might be purchased online using real money.So then apart from being a decentralized currency what are its advantages, well you’ll be able to transfer bitcoin wherever in this world without a lot fees, you could be one hundred% 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 tell you when it first launched it has completely no value however now 1 bitcoin = 6,689.35 $ that’s some pretty spectacular development is not it?.

So how does this thing develop you might ask, well let me tell you tips on how to sustain a blockchain there must be something called a ledger the place all of the transaction needs to be noted and to become a block in a blockchain a hashing operate needs to be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To resolve the hashing operate typically folks used graphics cards but as time passed by bitcoin received more troublesome to mine and dedicated hardware called ASIC miners had been introduced.

So individuals who spend their time and money to mine bitcoin will be rewarded in bitcoins and as more and more individuals turn out to be 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 apart from bitcoin is called altcoin, sure there are thousands of them)

2.you may mine them on your own

Each of those methods have their own advantages and disadvantages, because bitcoin is managed by nobody it is extremely unreliable someday it will be price 10,000$ and the next day it might drop to a hundred$. Trading essentially means shopping for bitcoin for real cash and praying that its worth will go up and selling it when it has gone up.This approach could be very risky and you could find yourself losing money rather than making any profit.

Or you may choose to mine bitcoins, however here’s what you must consider, mining hardware is super costly and mining requires a lot 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 money in case you know what you might be doing.

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