Howdy 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 can't be managed by any bank or any government, it is basically a virtual currency and may be bought online utilizing 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 can be a hundred% nameless while doing transactions thanks to a technology called blockchain.So then what is the big thing about this it's possible you'll ask, well let me let you know when it first launched it has completely no worth but now 1 bitcoin = 6,689.35 $ that's some fairly spectacular development isn't it?.

So how does this thing develop chances are you'll ask, well let me let you know the right way to maintain a blockchain there must be something called a ledger where all the transaction must be noted and to turn into a block in a blockchain a hashing operate needs to be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

To solve the hashing operate typically folks used graphics cards however as time passed by bitcoin received 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 individuals change into part of this blockchain its worth will increase.

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

1.you may trade bitcoin/altcoin(any cryptocurrency aside from bitcoin is called altcoin, yes there are thousands of them)

2.you may mine them in your own

Each of those strategies have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extremely unreliable in the future it will be value 10,000$ and the following day it might drop to a hundred$. Trading essentially means shopping for bitcoin for real money and praying that its value will go up and selling it when it has gone up.This approach could be very risky and you might find yourself dropping money quite than making any profit.

Or you may choose to mine bitcoins, however here's what you should consider, mining hardware is super expensive and mining requires numerous electricity,also mining problem is getting higher every single 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 case you know what you might be doing.

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