The links on the reply of my previous post has been so helpful to me, now I know more about Bitcoin, the rules guiding the forum and how it works. The only thing I knew about Bitcoin was how to purchase bitcoins at a Bitcoin exchange, sending and receiving of Bitcoins. But now I’ve read through all the links you shared and my knowledge has increased, I know one can also Earn bitcoins through mining. To my understanding, Bitcoin is still in the process of maturing and everyday we get to know more about how it works because nobody can really give an accurate analysis of what the outcome might be in the next minute or next day. There is no guarantee that Bitcoin will continue to grow or continue to dip even though it has developed at a very fast rate so far. There are various ways to make money with Bitcoin such as mining, speculation or running new businesses. All of these methods involves risk taking so It is up to each individual to make a proper evaluation of the costs and the risks involved in any such project.
ChatroomBitcoin is a decentralized digital currency that allows you to trade, buy and sell directly, without the need for an intermediary such as banks. The Bitcoin's founder, Satoshi Nakamoto originally identified the necessity for "an electronic payment system based on cryptographic proof instead of trust."
Every Bitcoin transaction ever recorded is on a public ledger that is accessible to anyone, making transactions difficult to reverse and extremely difficult to counterfeit. This is due to the decentralization of Bitcoins, Bitcoins aren't supported by the government or any other institution that issues them or other institution, and there's no way to ensure their worth other than the evidence that is baked into the central part of the system.
"The reason why it's worth money is simply because we, as people, decided it has value--same as gold," says Anton Mozgovoy, co-founder & CEO of the digital financial services company Holyheld.