GOOD AFTERNOON MY MONEY HUNGRY STEEMIANS, LET’S NOT PASS ANOTHER OPPURTUNITY! IN THIS ARTICLE I WOULD LIKE TO GO OVER; WHAT IS MINING, WHAT IS THE PROFITABILITY OF MINING, WHAT COINS SHOULD WE MINE, CLOUD MINING VS USING YOUR OWN HARDWARE OR GPU.
SO, WHAT IS MINING? BY INVESTOPEDIA, “MINING IS THE PROCESS BY WHICH TRANSACTIONS CAN BE VERIFIED AND ADDED TO THE PUBLIC LEDGER, AKA THE BLOCKCHAIN. THE PROCESS INVOLVES COMPILING RECENT TRANSACTIONS INTO BLOCKS AND TRYING TO SOLVE A COMPUTATIONALLY DIFFICULT PUZZLE. THE FIRST PARTICIPANT TO SOLVE THE PUZZLE GETS TO PLACE THE NEXT BLOCK ON THE BLOCK CHAIN AND CLAIM THE REWARD. THE REWARDS COME FROM BOTH THE TRANSACTION FEES AS WELL AS NEWLY RELEASED BITCOIN.”
IN SIMPLE TERMS, THE TRANSACTIONS GOING THROUGH THE BLOCK CHAIN ARE VERIFIED BY THE MINER WHO GETS REWARDED. YOUR HARDWARE DOES ALL THE WORK FOR YOU.
WHAT IS THE PROFITABILITY OF MINING? MINING PROFITABILITY DEPENDS ON THE COIN YOU MINE, THE DIFFICULTY TO MINE AT THAT TIME BASED ON HOW MANY ARE TRYING TO SOLVE THAT PUZZLE, IT’S POSSIBLE EXPONENTIAL GROWTH, YOUR HARDWARE, THE POOLS THAT YOU MINE WITH AND SO ON. I PERSONALLY HAVE STARTED BY JUST MINING BTC TO GET MY FINGERS WET AND I WILL START MINING ZCASH VERY SHORTLY. SO FOR PROFITABILITY, I WILL SHOW AN EXAMPLE OF BTC AT 10 000 USD AT THE CURRENT DIFFICULTY WITH COST OF ELECTRICITY (NOT INCLUDING THE HARDWARE). BELOW IS A CHART ON COINTELEGRAPH BY DARRYN POLLOCK SHOWING THE COST OF MINING IN DIFFERENT COUNTRIES RANGING FROM SOUTH KOREA WHERE IT WOULD COST OVER 26000$ TO MINE A 10000$ BTC TO VENEZUELA WHERE IT WOULD BE AS CHEAP AS 531$ TO MINE THAT SAME 10000$ BTC. DON’T FORGET THIS DOESN’T INCLUDE THE PRICE OF YOUR HARDWARE TO MINE.
THIS CHART CLEARLY TELLS YOU WETHER YOU SHOULD MINE WITH YOUR OWN HARDWARE OR IF YOU SHOULD BE CLOUD MINING. MINING WITH YOUR OWN HARDWARE ALSO REQUIRES EXTRA KNOLEDGE AND TIME WHERE YOU WILL HAVE TO DO YOUR OWN RESEARCH. YOU MAY NEED TO REPLACE PARTS AS YOU GO AND HARDWARE MAY BECOME TO OLD TO STAY PROFITABLE. IT REQUIRES MUCH MORE THEN JUST BUILDING A RIG AND PLUG AND PLAY.
SO WHERE IS THIS ALL GOING? CLOUD MINING, THE SOLUTION TO ELECTRICAL COST, HARDWARE COST, HARDWARE MALFUNCTION AND UPGRADES, MINIMUM INVESTMENT, TIME, ENERGY, AND PEACE OF MIND.
WHAT WILL THE RETURNS BE LIKE? I’VE JUST SUBSCRIBED AND YOU CAN DO SO USING THE LINK BELOW. AT THE CURRENT DIFFICULTY RATE WITH THE PRICE OF BTC BEING 10000$ AND NOT GOING ANY HIGHER WILL DOUBLE MY MONEY IN 12 MONTHS. IF BTC GOES BACK TO IT’S ALL TIME HIGHS SINCE WE JUST BOUNCED OF OUR BOTTOM, THEN I WILL HAVE 4X MY MONEY OR MORE. YOU ALSO HAVE THE OPTIONS OF MINING ZCASH WHICH I WILL BE STARTING NEXT WITH A HIGHER INVESTMENT, OR ETHER WHILE IT’S STILL MINABLE AND ALSO DASH.
https://hashflare.io/r/13DCD046
HOW TO GROW THOSE PROFITS EXPONENTIALLY? THE SECRET TO MAKING A FORTUNE IS TO KEEP TAKING THE PROFITS AND REINVESTING IT INTO MORE HASHPOWER. SO TECHNICALLY YOU CAN COMPOUND YOUR PROFITS. IT DOESN’T GET ANY BETTER THEN THAT. IF THAT CHERRY ISN’T ENOUGH THEN WITH THE PERCENTAGE OF THE PROFITS THAT HASHFLARE IS KEEPING THEY ARE ALSO WILLING TO GIVE YOU 10% OF THE DEPOSITS MADE BY YOUR REFFERALS. PASSIVE INCOME GROWING CONSTANTLY. THEN YOU CAN DO A STEEMIT POST OR DTUBE VIDEO AND MARKET IT WHICH EVER WAY YOU THINK IS BEST.
WELL, I’VE ONLY BEEN IN THIS SPACE FOR ABOUT A YEAR, I’M CONSTATLY LEARNING NEW THINGS AND I WILL BUILD MY OWN MINING RIG WHICH WILL BE QUITE COSTLY BUT I AM IN QUEBEC WHERE ELECTRICITY COST ISN’T TO HIGH, HOWEVER, FOR THE TIME BEING, I HAVE STARTED CLOUDMINING. I WILL BE BUYING IN MORE HASHING POWER HOPEFULLY EVERYWEEK. MY NEXT STEP IS TO START MINING ZCASH.
HELP MY GAIN VISIBILITY BY UPVOTING, RESTEEMING AND COMMENTING, JOIN USING MY LINK FOR HASHFLARE. DOING ANY OF THE 4 WILL ENTER YOU IN A DRAW TO WIN 10 USD IN STEEM. AGAIN THIS IS NOT FINANCIAL ADVISE, JUST A FREE WINNING LOTTO TICKET. GOOD LUCK AND STAY PROFITABLE. ALSO BUY THE DIPS.
https://hashflare.io/r/13DCD046
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