@georgianna51s
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Bitcoin and Methods to Make Cash With It
Hi there there,
This is my very first article right here so hopefully this gets approved, I am 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 cannot be controlled by any bank or any authorities, it is basically a virtual currency and may be purchased on-line using real money.So then apart from being a decentralized currency what are its advantages, well you possibly can transfer bitcoin wherever in this world without much fees, you might be 100% nameless while doing transactions thanks to a technology called blockchain.So then what is the big thing about this you may ask, well let me tell you when it first launched it has completely no worth but now 1 bitcoin = 6,689.35 $ that's some pretty impressive development isn't it?.
So how does this thing develop it's possible you'll ask, well let me inform you tips on how to maintain a blockchain there have to be something called a ledger the place all of the transaction needs to be noted and to turn into a block in a blockchain a hashing function has to be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.
To solve the hashing perform typically individuals used graphics cards however as time passed by bitcoin obtained more troublesome to mine and dedicated hardware called ASIC miners have 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 cash with bitcoin, there are two ways
1.you may trade bitcoin/altcoin(any cryptocurrency apart from bitcoin is called altcoin, sure there are thousands of them)
2.you can mine them in your own
Both of these methods have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extraordinarily unreliable someday it might be price 10,000$ and the next day it might drop to one hundred$. 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 may be very risky and you may end up losing cash reasonably than making any profit.
Otherwise you may choose to mine bitcoins, however here's what you must consider, mining hardware is super costly and mining requires numerous electricity,additionally mining issue is getting higher on daily basis so 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 cash in the event you know what you might be doing.
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