@edwardobickerste
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Bitcoin and Tips on how to Make Money With It
Hi there there,
This is my very first article here so hopefully this gets approved, I'm 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 controlled by any bank or any government, it is basically a virtual currency and could be bought on-line utilizing 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 can be 100% anonymous while doing transactions thanks to a technology called blockchain.So then what's the big thing about this you may ask, well let me let you know when it first launched it has completely no worth however now 1 bitcoin = 6,689.35 $ that is some pretty impressive progress is not it?.
So how does this thing develop it's possible you'll ask, well let me tell you the right way to maintain a blockchain there have to be something called a ledger the place all the transaction needs to be noted and to change 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 function typically people used graphics cards but as time passed by bitcoin received more difficult to mine and dedicated hardware called ASIC miners were introduced.
So individuals who spend their money and time to mine bitcoin will be rewarded in bitcoins and as more and more individuals grow to be part of this blockchain its worth 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 aside from bitcoin is called altcoin, yes there are literally thousands of them)
2.you possibly can mine them on your own
Each of these methods have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extremely unreliable someday it can be worth 10,000$ and the next day it could drop to one 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 it's possible you'll end up shedding cash rather than making any profit.
Or you may choose to mine bitcoins, however here's what it is best to consider, mining hardware is super expensive and mining requires numerous electricity,also mining difficulty is getting higher daily 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 money should you know what you might be doing.
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Website: https://immediateedge.de.com/
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