What is Bitcoin Currency
Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency since the system works without a central repository or single administrator. It was invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.
you can see various bitcoin companies which are the most transferable and wallet companies and you can exchange your bitcoin also.
you think what is the cryptocurrency, whose currencies cannot show only you can store it on your digital platform like your mobile, computer these currencies are not visible.
Bitcoin is the first currency that is growing day by day as I say u seen it last 2-3 months its value is increasing double an more. you can see the price index of bitcoin it is not loosing only increasing many companies are approved the transition through bitcoin wallet.
In the market, many cryptocurrencies are survived and there are few make the place to stand because many companies not accepting bitcoin or others currency . bitcoin is not authorized by any country government it is an open currency . are u think that we can create I make bitcoin as I wish that is not possible because there are some rules and regulations as like government. we can not create bitcoin it is only generated on transition means I am a seller and another one buyer when the payout via bitcoin then there is some algorithm which should solve by hasher or system that can solve it. you can say that its currency based on an algorithm.
How to earn/Generate Bitcoins
This is the main point how to generate and earn bitcoin as you know bitcoin value is very higher than other currencies.
you can earn bitcoin these methods.
- Mine your own Bitcoins. (The very first way to get your own Bitcoins was through mining)
- Do work for Bitcoins
- Offer something for Bitcoins
- Gambling and casino games
Mine your own Bitcoins
This method is best and I recommended this method if you can invest money because this is the best way you can earn more money in short time , I think many miners using this method for earning . are you thinking what are needs to mining bitcoin simply many GPU manufacture companies make miners for mining the bitcoin these are the mining machines that can simply earn money .
In the market, you can see the miner’s price are very high and many ASIC machines there is list of the machine which one good it depends on your budget as you simple word say more budget more profit.
you can manufacture manually with the most powerful GPU rig.GPU is a powerful system it is Graphics processing unit as you know GPUs provide graphics and accelerate the creation of images videos and frames on the screen. GPU mostly use for gaming console because there are heavy graphics whose converted rapidly by GPU if your GPUs processing slow then it cannot manage heavy images suddenly.
I think many local bitcoin miners make gigs of graphics processing unit and some companies also make a gig of GPU and selling on Amazon and many eCommerce websites and make our income but you can make a gig simply that is not a hard work if you lack money but you want to invest before buying any product.
please confirm that seller is not fake because there are find many faults by sellers so, I just say that before buying you need to know all about seller or company.
Do work for Bitcoins
If you’re just interested in making some Bitcoins you have several options. A sub Reddit called Jobs2Bitcoins displays a Bitcoin job board where you can exchange your skills for Bitcoins. BitGigs is the website that is similar to Fiverr where people post what they are willing to do for a few Bitcoins. You can try to become a seller on BitGigs but I don’t think the site has that much traffic.
XBTFreelancer is a 100% Bitcoin only freelancing site, you can post jobs paid solely in bitcoin and freelancers on the other end get paid in Bitcoin only.
Now if you want to work for bitcoin you have to excellent knowledge about bitcoin it then you can feel good about bitcoin industry.
Offer something For Bitcoin
In the offers section, you need to offer any product with bitcoin means you can sell your product replace with bitcoin because in that day the price of bitcoins is unstoppable, so you can sell anything that you want and get profit on it.
Gambling and Casino Games
There are many sites available for bitcoin gambling, each with their own games, bonuses, jackpots, and prizes
- Stake offer a faucet based on level and wagered. 0.00000100 BTC is the minimum. To claim your faucet add and confirm your email first.
- Lucky Games Up to 2000 Satoshis BTC. The RainBot will send out 2 free bits every ~10 minutes. The RainBot link is in the chat.
- Crypto-Games faucet depends on the players level. Higher the level, higher is the faucet. For Bitcoin games, it’s from 1000 satoshis to max 20500 satoshis (= 0.000205 BTC)
- Rollin.io Free 0.000015 BTC. Claim 0.015 mBTC, only one time per account
- Mega Dice Register an account, claim 200 satoshis once every 60 seconds, and roll the dice for free
- Fun CryptoGames Free 0.00001 BTC. All Players can receive funds on their account balance for free. After clicking Faucet button and solving Captcha, player’s account balance will be credited with 0.00001 BTC (0.001 LTC or 10 DOGE) right away. Faucet option can be used once in 10 minutes on one account or IP-address.
- BetBtc The amount you’re going to receive varies and can go up to 0.05 BTC.
- BetterBets Free 0.00000200 BTC every 5 minutes. The big difference with other sites is that you can claim faucets on better bets even if you have a balance. To get the 200 Satoshis, click on the symbol next to your balance.
- Primedice The amount you can claim from the faucet is dependant on your level. From 0.000005 BTC at the lowest level.
- 99.9% Dice Free 0.000002 BTC. A claim can be made one time per account, per IP and per 5 minutes.
- FortuneJack You are eligible to receive free 0.00000523 BTC as long as your balance on all currencies remains 0.
- ChainRoll Free 0.000001 BTC every hour. Claim 1 Bits, only when the balance is zero in your account.
- Bitsler Just claims their faucet and some satoshis will be added to your account. You can claim several times a day up to fifteen times maximum for new users and no limit for LEGEND users.
- DuckDice Get free coins to try the game! Free coins are given only if you don’t have enough funds to make a roll. The faucet amount depends on your wagered amount. You can claim from 0.0000025 BTC up to 0.00002 BTC!
- Bitwheel Claim Free 0.000001 BTC. Your account balance must be 0 to be able to claim free faucet money.
- Satoshibet Free 0.000005 BTC. You can request 0.005 mBTC every 20 minutes only when your Bitcoin balance is zero
- Win88 Claim Free 0.00002 BTC if your balance is 0.
- BustaBit Free 0.000002 BTC. Claim 2 free bits an hour, so you can always play for fun and without the commitment!
- BitcoinRush Free 0.001 BTC. play the Faucet Bot up to 3 times a day to sharpen your skills and if you can beat the bot twice – you win 10,000 satoshis or 0.1 mBTC!
these are some website to earn bitcoin claiming and gambling but every day and every hour you can claim and playing games and earn from it.if you know more than help me and visitors to add a new website.
Bitcoin pros and cons
Freedom in Payment
- With Bitcoin, it is possible to be able to send and get money anywhere in the world at any given time.
- You don’t have to worry about crossing borders, rescheduling for bank holidays or any other limitations one might think will occur when transferring money.
- You are in control of your money with Bitcoin. There is no central authority figure in the Bitcoin network.
Control and Security
- Allowing users to be in control of their transactions help keep Bitcoin safe for the network.
- Merchants cannot charge extra fees on anything without being noticed. They must talk with the consumer before adding any charges.
- Payments in Bitcoin can be made and finalized without one’s personal information being tied to the transactions.
- Due to the fact that personal information is kept hidden from prying eyes, Bitcoin protects against identity theft.
- Bitcoin can be backed up and encrypted to ensure the safety of your money.
Information is Transparent
- With the blockchain, all finalized transactions are available for everyone to see, however, personal information is hidden.
- Your public address is what is visible; however, your personal information is not tied to this.
- Anyone at anytime can verify transactions in the Bitcoin blockchain.
- Bitcoin protocol cannot be manipulated by any person, organization, or government. This is due to Bitcoin being cryptographically secure.
Very Low Fees
- Currently, there are either no fees or very low fees within Bitcoin payments.
- With transactions, users might include fees in order to process the transactions faster. The higher the fee, the more priority it gets within the network and the quicker it gets processed.
- Digital Currency exchanges help merchant process transactions by converting bitcoins into fiat currency. These services generally have lower fees than credit cards and PayPal.
Fewer Risks for Merchants
- Due to the fact that Bitcoin transactions cannot be reversed, do not carry with them personal information, and are secure, merchants are protected from potential losses that might occur from fraud.
- With Bitcoin, merchants are able to do business where crime rates and fraud rates may be high. This is because it is very hard to cheat or con anyone in Bitcoin due to the public ledger, otherwise known as the blockchain.
Now that we’ve covered the basic advantages, we can move on to the disadvantages. There are three main ones that need to be pointed out. This is so you can get an overall idea of what to expect with Bitcoin. We don’t want anything to be hidden from our viewers.
Lack of Awareness & Understanding
- Fact is many people are still unaware of digital currencies and Bitcoin.
- People need to be educated about Bitcoin to be able to apply it to their lives.
- Networking is a must to spread the word on Bitcoin.
- Businesses are accepting bitcoins because of the advantages, but the list is relatively small compared to physical currencies.
- Companies like TigerDirect and Overstock accepting Bitcoin as payment is great. However, if they do not have a knowledgeable staff that understands digital currencies, how will they help customers understand and use Bitcoin for transactions?
- The workers need to be educated on Bitcoin so that they can help the customers. This will definitely take some time and effort. Otherwise, what is the benefit of such large companies accepting Bitcoin if its staff doesn’t even know what digital currencies are?
Risk and Volatility
- Bitcoin has volatility mainly due to the fact that there is a limited amount of coins and the demand for them increases by each passing day.
- However, it is expected that the volatility will decrease as more time goes on.
- As more businesses, medias, and trading centers begin to accept Bitcoin, its’ price will eventually settle down.
- Currently, Bitcoin’s price bounces every day mainly due to current events that are related to digital currencies.
- Bitcoin is still at its infancy stage with incomplete features that are in development.
- To make the digital currency more secure and accessible, new features, tools, and services are currently being developed.
- Bitcoin has some growth to do before it comes to its full and final potential.
- This is because Bitcoin is just starting out, and it needs to work out its problems just like how any currency in its beginning stage would need to.
These are the advantages and disadvantages of bitcoin I think what about bitcoin I know I write here if any further step that I don’t know give your advice in comment box you can also contact me on my email account, Facebook and Twitter. so guy please follow us on Twitter Facebook and create a great community to share your thoughts. Share post if you like.