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Hey there,

This is my very first article here so hopefully this gets approved, I am going to share some points about bitcoin and blockchain.

For those of you who do not 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 may be bought online using real money.So then apart from being a decentralized currency what are its advantages, well you may switch bitcoin anywhere in this world without a lot fees, you may be a 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 inform you when it first launched it has absolutely no worth however now 1 bitcoin = 6,689.35 $ that is some pretty spectacular progress is not it?.

So how does this thing develop it's possible you'll ask, well let me tell you the way to sustain a blockchain there have to be something called a ledger the place all the transaction has to be noted and to grow to be 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 function typically folks used graphics cards however as time passed by bitcoin obtained more difficult 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 turn 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 apart from bitcoin is called altcoin, sure there are literally thousands of them)

2.you possibly can mine them in your own

Both of those strategies have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extraordinarily unreliable one day it will be value 10,000$ and the next day it may drop to one 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 may end up losing cash relatively than making any profit.

Otherwise you would possibly choose to mine bitcoins, but here's what you must consider, mining hardware is super expensive 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 in case you know what you are doing.

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