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Hello 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 don't know what Bitcoin is let me put it this way, Bitcoin is a currency which cannot be managed by any bank or any government, it is basically a virtual currency and might be purchased on-line using real money.So then apart from being a decentralized currency what are its advantages, well you can transfer bitcoin wherever in this world without much fees, you can be one hundred% anonymous while doing transactions thanks to a technology called blockchain.So then what's the big thing about this chances are you'll ask, well let me tell you when it first launched it has completely no value but now 1 bitcoin = 6,689.35 $ that's some fairly spectacular development is not it?.

So how does this thing develop it's possible you'll ask, well let me tell you tips on how to maintain a blockchain there have to be something called a ledger the place all the transaction must be noted and to turn into a block in a blockchain a hashing function must be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

To unravel the hashing perform typically individuals used graphics cards however as time passed by bitcoin bought more tough to mine and dedicated hardware called ASIC miners had been introduced.

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

so how can I make money with bitcoin, there are ways

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

2.you can mine them in your own

Each of these strategies have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extremely unreliable someday it may be value 10,000$ and the subsequent day it may drop to 100$. Trading essentially means buying bitcoin for real money and praying that its worth will go up and selling it when it has gone up.This approach is very risky and chances are you'll find yourself shedding cash somewhat than making any profit.

Or you may select to mine bitcoins, but here's what you need to consider, mining hardware is super expensive and mining requires a lot of electricity,additionally mining issue is getting higher day-after-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 cash in the event you know what you might be doing.

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