Hi there there,

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

For these of you who do not 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 can be purchased online utilizing real money.So then apart from being a decentralized currency what are its advantages, well you’ll be able to switch bitcoin anywhere in this world without much fees, you might be 100% nameless 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 but now 1 bitcoin = 6,689.35 $ that’s some pretty spectacular progress isn’t it?.

So how does this thing grow it’s possible you’ll ask, well let me inform you how you can maintain a blockchain there have to be something called a ledger where all of the transaction must be noted and to become a block in a blockchain a hashing function must be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

To resolve the hashing function typically folks used graphics cards but as time passed by bitcoin bought more difficult to mine and dedicated hardware called ASIC miners had been introduced.

So individuals who spend their money and time to mine bitcoin will be rewarded in bitcoins and as more and more folks grow to be part of this blockchain its value will increase.

so how can I make money with bitcoin, there are two 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’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 extremely unreliable at some point it will be price 10,000$ and the next day it could drop to 100$. Trading essentially means shopping for 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 could find yourself losing money reasonably than making any profit.

Otherwise you may choose to mine bitcoins, but here’s what you must consider, mining hardware is super costly and mining requires numerous electricity,also mining issue is getting higher daily 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 cash if you happen to know what you might be doing.

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