Hi there 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 can’t be controlled by any bank or any government, it is basically a virtual currency and could be purchased online using real money.So then apart from being a decentralized currency what are its advantages, well you can switch bitcoin anyplace in this world without a lot fees, you might be a hundred% nameless while doing transactions thanks to a technology called blockchain.So then what’s the big thing about this it’s possible you’ll ask, well let me let you know when it first launched it has absolutely no value but now 1 bitcoin = 6,689.35 $ that is some fairly impressive progress is not it?.

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

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

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

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

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

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

Both of these strategies have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extraordinarily unreliable one day it could be value 10,000$ and the following day it may drop to a hundred$. Trading essentially means buying bitcoin for real money and praying that its price will go up and selling it when it has gone up.This approach is very risky and you might find yourself shedding money somewhat than making any profit.

Or you would possibly select to mine bitcoins, however here’s what it’s best to consider, mining hardware is super costly and mining requires lots of electricity,additionally mining issue 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 good ways to make money in the event you know what you’re doing.

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