Sport Nitrates?

Sport Fitness
I have heard about nitrates randomly throughout my looks into a better diet. I've been told that nitrates are very bad and you should avoid them. I can't even find a very clear bit of info on them though. What exactly are nitrates? How do I know what has them?(I'm guessing the ingredients list on Nut Info?) What are the damages done by them? I mean I just want some information to figure out why I should eat them. I particularly have been informed of them in bacon and I occasionally like a slice or two of bacon for a little spice to a meal. (I've eaten 2 slices in the past year now and that was just this past week.)
 
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