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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 can't be managed by any bank or any authorities, it is basically a virtual currency and might be bought 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 may be 100% nameless while doing transactions thanks to a technology called blockchain.So then what's the big thing about this you may ask, well let me tell you when it first launched it has absolutely no worth however now 1 bitcoin = 6,689.35 $ that is some pretty spectacular growth is not it?.

So how does this thing develop chances are you'll ask, well let me tell you find out 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 perform needs to be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To resolve the hashing operate typically people used graphics cards however as time passed by bitcoin received more tough to mine and dedicated hardware called ASIC miners were introduced.

So individuals 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 two ways

1.you'll be able to trade bitcoin/altcoin(any cryptocurrency aside from bitcoin is called altcoin, sure there are millions of them)

2.you possibly can mine them on your own

Each of these strategies have their own advantages and disadvantages, because bitcoin is managed by nobody it is extraordinarily unreliable sooner or later it might be worth 10,000$ and the next day it may drop to a hundred$. Trading essentially means shopping for bitcoin for real cash and praying that its value will go up and selling it when it has gone up.This approach may be very risky and it's possible you'll find yourself dropping cash relatively than making any profit.

Or you might select to mine bitcoins, but here's what you need to consider, mining hardware is super expensive and mining requires lots of electricity,also mining difficulty is getting higher day-after-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 money in the event you know what you might be doing.

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