Male
Somewhere you couldn't possibly know.
Seen November 24th, 2021
Posted June 24th, 2020
From what I know;
Bitcoin is the first decentralized online currency and so it's not issued by banks. It's "produced" by computers performing various mathematical functions, and this is called "mining". The functions are set up in a way such that it gets progressively harder to mine as you collect more bitcoin. As for how profitable it is, it isn't very. Not unless you're using quite a powerful computer dedicated for mining it 24/7. The network self-monitors itself and processes all requests practically autonomously.
As for Bitcoin itself, it's very volatile, and even though it's at around $450 per Bitcoin right now, it's been known to jump around frequently, falling as low as $70. On the other hand, since it's independent of any banks/governments, it's not effected by economies and no bank can issue a large amount of it and devalue it. You can also transfer it and use it without any transaction fees or the likes, and without going through a bank, which makes it an increasingly popular option in illegal operations such as money laundering and illegal item purchases.
All in all, it's a pretty interesting system that just goes to show how incredible our technologies are right now. That said, the current BTC system is somewhat fragile and dangerous to use, considering how volatile the value of it is, so I'd advice against using it. You could put $1000 into it and if it drops suddenly, as it often does, you could end up losing a lot of it. Then again, as is the case with most of the Internet, something better and more stable will most likely come around soon enough. :P