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Why Mine BITCOIN? by jaro

View this thread on: hive.blogpeakd.comecency.com
· @jaro · (edited)
$6.35
Why Mine BITCOIN?
<html>
<h2>That's like asking why mine gold. Simple. Because it MAKES you MONEY.&nbsp;</h2>
<p>But unlike with gold, you don't need picks and shovels or mining pans to do it. Or to move somewhere where there's gold. You can mine BITCOIN at home or ONLINE.&nbsp;</p>
<p><img src="https://i.imgsafe.org/59/591dcc1e94.jpeg" alt="mining bitcoin" width="860" height="450"/></p>
<p>Here are TWO WAYS to do it.&nbsp;</p>
<p>ONE, you can buy a mining rig. The best one for bitcoin costs about $6000 on ebay or $5k directly from China. It's rated at 14TH(terrahashes) and it'll produce about 1 BITCOIN per YEAR, running 24 hours a day.</p>
<p><br></p>
<p>And since Bitcoin is now about $16k, you can profit around $10k by buying one and running it at your home. Of course it's a bit noisy, runs 24/7 and uses 1400 watts, which is about 1000kWh per month.</p>
<p><br></p>
<p>That's still a GREAT DEAL, especially considering that a year from now, bitcoin could be $160,000. Not bad on a $6k investment in 1year, huh?</p>
<p><br></p>
<p><strong>The SECOND way to profit from it, and make REAL money, is to RENT MINING capacity. I.e. someone with a mining rig will rent it to you FOR A FEE. Below is one company that does that, and their fee is $220 per TH.</strong></p>
<p><br></p>
<p>Now the mining rig I mentioned above is rated 14TH/s, so if you bought 14TH from this company, it'd cost you $3080/year, and you'd have an equivalent to having the actual $6k mining rig. MINUS having the headaches of maintaining it, providing internet connection to it, dealing with the heat and noise and electricity costs.</p>
<p><br></p>
<p>And like I said, 14TH will produce about 1 BITCOIN per year, so your $3k investment could produce $16,000 to $160,000 profit in a year!!! How much would a bank pay you in interest for $3000? Not very much, huh?</p>
<p><br></p>
<p>Now this is NOT an investment advice, just an FYI. I'd post it here even if I didn't have an affiliate link that pays me 10% of new people signing in. And it's anonymous, they just want you email. You can pay with BITCOIN or with credit cards, but with credit cards they require verification.</p>
<p><br></p>
<p>Here's how to register:</p>
<p><br></p>
<p>1.Go to: <a href="https://hashflare.io/r/CD873C62">https://hashflare.io/r/CD873C62</a></p>
<p>Setup an account it only takes a few minutes.</p>
<p><br></p>
<p>2. After your account is set up click "Buy Hashrate" on the left hand side of the page.</p>
<p><br></p>
<p>3. From there choose "SHA-256" for bitcoin mining.</p>
<p><br></p>
<p>4. Use the sidebar to choose how much hashpower you want to buy and click proceed.</p>
<p><br></p>
<p>5. On the next page click select payment method and you can pay with BTC or with a credit card(there is no fee for using a card)</p>
<p><br></p>
<p>6. Agree to terms and click confirm</p>
<p><br></p>
<p>7. On the next page enter your payment info if you are paying by credit card. And complete the payment.</p>
<p><br></p>
<p>8. For first purchase with a credit card you will have to go into your credit card purchase history from you bank website and get the 4 digit code on the transaction and enter that code in hashflare so they can verify the card you are using is indeed yours and is not stolen.&nbsp;</p>
<p><br></p>
<p>9. You are all set. Your payout will be in bitcoin once per day.&nbsp;</p>
<p>*************************</p>
<p>BTW, don't take my word for it. Here's a bitcoin mining calculator that shows you a BTC profit from 1TH. It's about 0.05769BTC per year, which is about 0.8 BTC/year from 14TH, AFTER the maintenance fees are deducted. Multiply that by today's price of bitcoin, or by $160k which LIKELY is what 1 BTC will be worth a year from now.</p>
<p><br></p>
<p><a href="https://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=1000&amp;p=0&amp;pc=&amp;pf=15&amp;d=1590896927258.08000000&amp;r=12.50000000&amp;er=14000&amp;hc=150" target="_blank">https://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=1000&amp;p=0&amp;pc=&amp;pf=15&amp;d=1590896927258.08000000&amp;r=12.50000000&amp;er=14000&amp;hc=150</a></p>
<p><br></p>
<p>Looks to me as a potentially LIFE-CHANGING op portunity. I kept telling you guys that having bitcoin is like gold mining 150 years ago. Now that bitcoin skyrocketed from $800 in January 2017 to $16,000 today, it's a full blown GOLD RUSH!</p>
<p><br></p>
<p><strong>At Hashflare you also can mine ETHEREUM and LITECOIN, but I DON'T recommend that, since mining bitcoin is now MORE profitable.</strong> Almost twice as much. But if you want Ether or LTC then you should mine bitcoin and then BUY those altcoins with the BTC you mined. <strong>Here's the registration link again:</strong></p>
<p><a href="https://hashflare.io/r/CD873C62"><strong>https://hashflare.io/r/CD873C62</strong></a></p>
<p><br></p>
<p>BTW, there are other companies that rent out mining rig capacity, but since bitcoin mining is SO PROFITABLE now, some of them ran out of capacity and have no bitcoin mining contracts to sell for any amount of money. It's like mining gold in 1800's; the EARLY miner gets the GOLD!</p>
<p><strong>Oh and Hashflare was in business for several years now, so it is a LOT SAFER to deal with them than with some new mining companies that were in business only for a few months.&nbsp;And you don't have to buy 14 TH (terrahashes) of mining power, you can just buy 1TH or even less.</strong></p>
<p>*************************</p>
<p>And I've been getting ACTUAL payouts at Hashflare of about 0.002BTC/day per 14TH contract. That's $28 before you deduct about 15% maintenance fee, with BTC price at $14,000. And if BTC goes back to $20,000 sometime this year, then ADD $12 a day to that. I.e. if 90 days from now Bitcoin goes to $20k, my mining earnings will increase to about $1000 per month, which is $3000 for the first three months.</p>
<p>And if Bitcoin goes to $30k this year, then <strong>your MONTHLY earnings from a 14TH contract should be about $1491.</strong> And that's applicable all the way back to the first day of your mining contract, since they pay out in bitcoin, not in dollars. And that's on a contract that you paid $220/TH for, which is $3080 for 14TH.&nbsp;Of course those numbers could be somewhat decreased by an increased mining difficulty, which usually comes when bitcoin rises in price significantly.</p>
<p><br></p>
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vote details (357)
@albertoyago ·
great stuff @jaro ! at the moment, mining BCH is way more profitable than BTC... it can be done with the same S9 machines... then you can convert it into btc when you fancy... also consider that, despite the initial investment of the expensive machines, you have to pay electricity monthly....so depending on how costly it is in your country, it might be cheaper and easier, to buy it with fiat straight away now that the price is a bit low...also, nobody guarantees you 160k btc in the near future
👍  
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@randomaccess ·
Not sure where the 160k speculation came from. Lots of chatter indicating that btc has less room to grow than many others due to its usefulness
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@anthonbar ·
Maybe.. Why not to mine Bitcoin..? would much more useful.. I think it's not worth it. Although, good job!
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@arisha ·
trap or not it doesn't matter... i'm a coin collector and i'm not after for the value of these coins i am after for it's history and not the monetary value... i am after for the ART present in these coins and not the dollars..
👍  
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vote details (1)
@jamesmiller ·
thats something new
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@asifgoraya123 ·
Nice Post
Please Follow My Blog as Well @asifgoraya123 
To Receive Exciting News And Signals About Bitcoin and Altcoins.
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@bgsux ·
I think lesser people are using bitcoin as their fav transaction coin due to the high transaction fees. guess the mining world income are greatly affected
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@underpants ·
yeh using eth instead, its much faster and you can buy nearly every other coin with eth like with btc
👍  
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vote details (1)
@bhabykat ·
$0.04
Thank you for sharing on how and where we can mine bitcoins. I would love to mine bitcoins too.
👍  
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@bigi ·
Does anyone know much about Russian Mining Coin? - RMC One https://rmc.one/ I invested a small amount last year.
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@billhablot ·
the point is the EARLY miner gets the GOLD
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@blake123 ·
i thought mining bitcoin wasn't profitable anymore but now im gonna mine some bitcoin
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@bluehorseshoe ·
$0.28
I own some hashflare but love having hardware mining under my control more.
👍  
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vote details (1)
@byltc ·
Hello , I like you blog.Upvote and Follow you ! You are invited to my blog 
Welcome.
👍  
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@byltc ·
Enjoy the vote and reward! Mutual Upvote you :) Follow and Upvote you.
Welcome  !   Thank you .
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@catlove ·
thanks for info ! especially these days mining is important :D
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@characters1 ·
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time  https://seebit.io/?r=56086
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@coinflipper ·
The money you gonna spend on electricity alone is probably higher then what you get for it, unless you hack servers and leech computing power. LoL
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@comule ·
So.. $10,000 profit annually you said. But you forgot to mention how much it'll cost for 1000kWh per month.. multiply by 12 months, minus $10,000.. i think it goes to zero.. plus or minus.. right?
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@jaro ·
Wrong. Electricity costs are only 10-20% of the money you earn. Plus you don't have to worry about that when you do online mining as there those costs are automatically deducted.
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@criptobuzz ·
Good post
👍  
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vote details (1)
@cryptoadviceltd ·
Great predictions, I created my first ever post which I think people will find funny to read. Could some people spread the word :)

I quit my high paid job yesterday to do this so am a bit worried haa.

https://steemit.com/bitcoin/@cryptoadviceltd/quit-my-job-yesterday-my-honest-journey-in-cryptocurrency-the-highs-the-lows
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@cryptosee ·
NEW BUY OPPORTUNITY |LAMBDEN (TAU)| +1000% POTENTIAL PROFITS
https://steemit.com/cryptocurrency/@cryptosee/new-buy-opportunity-or-lambden-tau-or-1000-potential-profits
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@danex1509 ·
Bitcoin is showing a high rate of inflation, isn't it?
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@daviddivergent ·
$0.04
Wow👍 This fully explains bitcoin mining ⛏ Thank You for sharing 👍
👍  
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vote details (1)
@denizkorkmaz ·
It is one of the best article that I read on steemit so far. Well done mate, very clear.
👍  
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vote details (1)
@dimby ·
Is it really trustworthy ? I just had a fast check on http://bittrust.org/hashflare and the reviews are quite bad... 2,63/5 only ! I think we can find a better cloud mining service on the internet.
👍  ,
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vote details (2)
@dkn ·
Why do you think mining is better then buy&holding?
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@dimitar9 ·
$0.04
I like your calculation. thanks.
(please upvote me too)
👍  
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vote details (1)
@dj-turbo-honda ·
only 42 million left to mine
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@djbk ·
got 24TH's on it currently.. im very happy with hashflare so far :D happy earnings
👍  
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vote details (1)
@dkn ·
Why isn't it better to just buy BTC and see, how it grows? 

If you put money to the cloud mining it will be frozen for a long time and you will never get it back if the price of BTC will not grow. You will have profit only if the price will keep growing.

If you just hold BTC the situation is better. If BTC price grows - you are in profit. If it falls - you can just sell it. 

But you cannot sell the mining resource.  

Did you get my idea?
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@jaro ·
Wrong. Bitcoin mining is like buying bitcoin at 75% discount. You pay $3080 for 14TH which will give you almost one bitcoin over the 12 month. So you paid $3080 for a $14000 bitcoin.
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@dkn ·
But what if BTC will cost 3000 over the 12 months?
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@dtube.com ·
<a href="https://steemit.com/dtube/@dtube.com/hi-dtube-users-join-dtube-and-change-your-life-gud-nyt">Hi Dtube users, Join Dtube and change your life. Gud nyt</a>
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@ender2135 ·
$0.04
I agree, mining from home is a bit of a headache, keeping sure things are up and running. If I could do it again, I would likely do cloud mining.
👍  
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vote details (1)
@ezekielpink ·
you can't mine bitcoin
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@fajarharapan ·
Can we make bitcoin be real money not digital..?
What coountry that addopt bitcoin as currency ?
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@famg ·
Given the actual prices and difficulties it seems as if mining ETH is at least as profitable as mining BTC. Cheers.
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@galhadas ·
Great post,
Now that the Bitcoin is high isnt it better to mine something else? 
like Ethereum\Monero\ Ripple?
What do you thing?
👍  ,
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vote details (2)
@mjo ·
If it's helpful, I'm testing out mining Monero on a pretty standard computer now. It sounds like you don't need an expensive rig to be able to mine it at the moment. I'm finding that I've been getting somewhere around .002 XMR per day on a bit of an outdated machine. I plan to post about it after about a month when I have some better metrics but it seems like at the current price it may not be worth it. I'm using a mining pool so if you look at the XMR I'll have mined minus the .008 fee to withdraw and factor in the cost of electricity it looks likely I'll be in the red. 

I'm still going to stick this out for 2 main reasons.
1. I just want to run the numbers and have a conclusion here on if this is profitable.
2. I also like Monero as a long term hold, so assuming the value goes up significantly from $376ish per XMR I might be glad I mined some down the road :)
👍  
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vote details (1)
@galhadas ·
can you explain more how do you mine it?
I have some machine that I dont need I might try too
👍  
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vote details (1)
@sames ·
$0.07
You can't mine ripple. Ethereum going POS and that profitable is down. Monero cpu but not the most profitable in bulk. If bitcoin is high that means that more money you make!
👍  
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@galhadas · (edited)
Doesn't it mean that it will be harder to mine? 
That I will need, more electricity and better equipment to mine 1 bitcoin? 
If you compare to 1 year ago
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@gulfuren ·
$0.04
Beautiful
👍  
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vote details (1)
@halloworld ·
bitcoinmining is a idealism action. you never back the investment. i am a pionier of bitcoin on 1ts hour. ;) bitcoinmining is a very big scam-business.
👍  
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@henzkel ·
Bitcoin mining using Hashflare is still doable but the minimum payout has been increased to 0.05 BTC. This plus the additional transaction cost means that you should invest in a lot of hashpower to break even in just a few months. Otherwise, you will not mine enough just to withdraw. Genesis Mining is much more preferrable at 0.003 BTC but mining contracts have ran out.
👍  
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vote details (1)
@hridoy23 ·
$0.06
i have a question to you. if i keep my cryptocurrency like btc,ltc or something  like that in blockchain or coinbase how much safely it is in there???
👍  ,
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vote details (2)
@comule ·
$0.04
i guess you're new to cryptocurrency.
👍  
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@hridoy23 ·
yes i am new and i have not enough idea about it that is why i asked you.please give me answer
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@randomaccess ·
Safe enough. As long as they don't get hacked or run off with the money. 
Or you can manage it all on your own device and hope you don't get hacked. 
If you intend on buying and holding then look into an offline wallet that you can backup your private keys yourself
👍  ,
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vote details (2)
@nickwalshblog ·
get your coins off exchanges and into nano ledger s or trezor so the coins are offline, keep the ledger in a fireproof small box keep the seed words in fire proof small box some where else and keep copy too.

key logging software is used every hour by criminals stealing cryptocurrencies from coinbase etc when they are gone they are gone, get a crypto education or get recked
👍  
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@iamatabo ·
Mining Bitcoin is great, but how about ethereum?
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@icantor ·
So true! Great post.
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@importanteye ·
If You Are Reading This Fortune Cookie You Will Have A Prosperous And Happy Fall Next Year 🍪
👍  
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vote details (1)
@jaafarkadim ·
I was giving up the idea of mining Bitcoin and I began buying some coins like TRON until I read this. This was because I thought BTC would have a major drop that would've been caused by the high transaction costs.
 Thank you for this post. I would like to read more of you!!!
👍  
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@leoh ·
follow me, I follow you !! vote for this comment so I know who's following me !!
👍  
👎  
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vote details (2)
@jeremyc ·
$0.04
Really interesting post and it has certainly peaked my interest. I was able to understand it having really no prior knowledge of anything crypto but i am starting to get into it.

Thanks for your explanation and also reading the comments have been very useful and interesting! @jaro
👍  
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@jimjam ·
This is a cool article, and it is true that Bitcoin mining is profitable. However, Bitcoin mining is the equivalent to spending $1.50 on $1 of water and then selling it for $2. Cool, you made $0.50 profit, but you could have just bought a dollars worth of water, sold it, and made $1 profit, instead. And, it would have been far easier to do the latter. 

I wrote a quick <a href ="https://steemit.com/bitcoin/@jimjam/should-you-mine-bitcoin-and-why-you-shouln-t-trust-cloud-mining"> article</a> on it if you want to check out the numbers. If not, just know that for the majority of individuals, the numbers don't support the fact that Bitcoin mining is MORE profitable than simply buying and holding Bitcoin. And, Cloud mining is far less profitable given the numbers.
👍  
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vote details (1)
@joydrummer22 ·
I tend to not agree but I do appreciate all the effort and research you've done. The hassle and the upkeep of a mining rig does not always equal the profits. Renting a miner seems especially risky. But to each their own I suppose
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@jaro ·
No work=no money. No risk=no profits. To each his own.
👍  ,
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vote details (2)
@juliansamuel ·
Nice post. Please follow back and check my post and comment. @juliansamuel
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@kaarna ·
Pointless to mine.
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@karthikix ·
Rather than mining bitcoin, you must shell out your ROI calculations on multiple alt coins. You dont need to worry about buying hashrates too. There are better software like minergate which gets you started even for a naive user.
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@kayla353570 ·
Can I come along
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@korak ·
Flat Broke? If you are flat broke and want to try mining at a very small scale you can take a look at the [CoinFactories](https://chrome.google.com/webstore/detail/coin-factories-monero-cry/lonijlpkhmabedfiafipngignpeoighg) extension for Chrome. It's free to use and will let you try out small-scale mining to learn a bit about a hashrate, throttling, etc while you figure out your more serious plan. It's not a replacement for full mining but can be a good way to dip your toe into the pool without risking any money yet.
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@lakarma ·
Cryptocurrency Can't Be Stopped!
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@leagueinside ·
Very interesting subject and Post! 
Upvote this 👍🏼🔝🔝🔝
👍  ,
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vote details (2)
@lsdslash ·
That's a lot on the electric bill, but I suppose that issue will work itself out.
👍  
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vote details (1)
@luckyreddy ·
$0.04
Hashflare is good for bitcoin cloud mining  and it gives good profit to miners
👍  
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vote details (1)
@lwanga ·
Very helpful i will check out it hashflare
properties (22)
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@masrooranwer ·
Informative
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@menel3d ·
great idea 
i plan start mining steem who can help my 
https://steemit.com/steemit/@menel3d/steemit-start-mining-plan
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@mikehustleinc ·
I think if you have the money to invest in mining wither its hardware or cloud-based it makes sense, but $4000-$6000 isn't just sitting on everyone's shelf or in their bank account like that. Those on a smaller budget might want to start with a few alt-coins, $20 on a $0.01 coin will get them 2000 coins in which their money will double every $0.01 it increases. But when dealing with alt coins there are key factors to realize such as the satoshi rate and the actual technology and development of the coin. In other words, if you are going to start small do some research and find creditable crypto news sources on why the coin will rise or never get off the ground. Only other good thing about investing that low is you can only go up!
👍  
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vote details (1)
@mikeycolon ·
I guess it may not be too late for some to mine btc.

But I wonder what the warranty would be on those machines. Plus good luck getting support. 

Great post!
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@miner76 ·
bitcoin is stable crypto @miner76
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@mohammadkaleem ·
$0.04
how much do u earn from mining in a month
👍  
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vote details (1)
@jaro · (edited)
Around $25/day net from 14 TH that cost $3080 for 1 year. But if bitcoin price doubles or triples in 2018, those earnings will double or triple as well.
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@murtazajunior ·
saya suka postingan ada..
sepertinya anda seorang ceo yang handal
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@musa32 ·
You should also mention the Antminer Hardware. They cost about 3-6k but are worth it.
👍  
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vote details (1)
@mwkthang ·
Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin; they value it because they believe that they can exchange it for something else.
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@jaro ·
Bitcoin is a CURRENCY. You can spend it at the speed of electricity in thousands of places all around the world. It's even better store of wealth than gold since it increases in value like crazy. Doh.
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@mwkthang ·
Whenever the price of cryptocurrency is rallying, people start spending a lot more.
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@mwkthang ·
If the world's using bitcoin, governments won't be able to fund wars through inflation like they do today.
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@mwkthang ·
We are seeing more managed money and, to an extent, institutional money entering the space. Anecdotally speaking, I know of many people who are working at hedge funds or other investment managers who are trading cryptocurrency personally, the question is, when do people start doing it with their firms and funds?
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@mwkthang ·
Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin; they value it because they believe that they can exchange it for something else.
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@jaro ·
Bitcoin is a CURRENCY. You can spend it at the speed of electricity in thousands of places all around the world. It's even better store of wealth than gold since it increases in value like crazy. Doh.
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@mwkthang ·
We are seeing more managed money and, to an extent, institutional money entering the space. Anecdotally speaking, I know of many people who are working at hedge funds or other investment managers who are trading cryptocurrency personally, the question is, when do people start doing it with their firms and funds?
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@mwkthang ·
Whenever the price of cryptocurrency is rallying, people start spending a lot more.
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@nemanja030 ·
Hello , please check my [first post](https://steemit.com/bitcoin/@nemanja030/i-have-never-invested-in-bitcoin-but-i-still-have-them)

I think this is much better situation than actual mining
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@nickwalshblog · (edited)
Mining 

Individual Miners 

are playing the lottery as the chance of finding a block  to offset their electricity and hardware costs is very low.

Mining Pools

Coordinate hundreds of thousands of miners and th epool miners share the effort to mine the block and then they share the reward which is 12.5 bitcoins at todays rate.

Managed Pools

Most mining pools are managed so a company or individual is running the pool server, the pool miner connect to the pool server using a mining protocol like Get Block Template.

Peer-to-peer mining pool (P2Pool)

Because managed pools can cheat the miner thro double spend transactions or invalidate blocks or because there is one point of failure as server attacked by denial of service attack and pool miners cant mine then (P2Pool) is better option but is more complex and requires pool miners have: 

full bitcoin node
so dedicated PC 
big memory
big disc space
big bandwidth
P2Pool node software

Runs on share chain which runs at lower difficulty than the bitcoin blockchain - 

P2Pool sharechain	Miner rewards	8,640 Shares	30 Seconds	Dynamic

Bitcoin blockchain	Bitcoin transactions	Complete; all blocks	10 Minutes	Every 2,016 blocks

Nick

Bitcoin Certified Professional

Keep on Steeming!
👍  
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vote details (1)
@nikkijmurphy ·
$0.04
A great post for new like myself looking to get into Bitcoin, thanks for taking the time to share this with the community
👍  
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vote details (1)
@nkkb ·
$6.29
I bought at bitclub.net  but the payout is very small. Think its not worth it. Better invest in penny cryptos wit 1000 % more ROI.
👍  , , , , , , , , , , , , , , , , , , ,
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vote details (20)
@brugis ·
There is many ways you can earn. And only you can choose which part you can go , there  is neither bad or good chooses , only your way . Choose wisely !
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@drakernoise · (edited)
Yes it is worth to invest in "cheap" coins and hold till they pump. In this way I would suggest to take a look at this guide , I've found it quite iluminating.

The link:  http://cryptogurus.com/guides/price-or-market-cap/

Pd: thank you so much @jaro for this interesting post  ;)
👍  ,
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vote details (2)
@jaro ·
$0.28
Investing in penny cryptos is a gamble; maybe you win, maybe you lose. Mining bitcoin is a LOT more reliable. People were mining bitcoin since 2009 and it is STILL profitable.
👍  , , , , , , ,
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vote details (8)
@bhansa ·
$0.04
Mining is really profitable instead of earning in pennies/cents, I agree. Cloud mining is a much better option by the way, you get what you bet there.
👍  ,
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@leoh ·
follow me, I follow you !! vote for this comment so I know who's following me !!
👎  ,
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vote details (2)
@mawit07 ·
Took many years until bitcoin "truly" became profitable. It was still worth under $100 in the first few years. I kind of agree with @nkkb that if one put a few dollars into many penny cryptos then one will bound to go up 1000% or more in the years to come. Just have to do research on the coins and be quick while they are inexpensive. Thanks.
👍  , , ,
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vote details (4)
@menel3d ·
https://www.spacemining.io/?ref=30523  new site 100 GH/s for start on mining Bitcoin    proof payment  100% im testing from myself![spacemin ing.JPG](https://steemitimages.com/DQmWVCae8rrRkWyXDNZNyHmH1F3q1EvXHqHnUaLrgZ19ay1/spacemin%20ing.JPG)
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@soneo ·
yes
👍  ,
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@leagueinside ·
Yeah 🔝🔝🔝
👍  
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@leoh ·
follow me, I follow you !! vote for this comment so I know who's following me !!
👍  
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vote details (1)
@mawit07 ·
I had heard about bitclub and was interested in joining. Now reading your response I am glad I never got involved. Thanks.
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@menel3d ·
https://www.spacemining.io/?ref=30523  new site 100 GH/s for start on mining Bitcoin    proof payment  100% im testing from myself![spacemin ing.JPG](https://steemitimages.com/DQmWVCae8rrRkWyXDNZNyHmH1F3q1EvXHqHnUaLrgZ19ay1/spacemin%20ing.JPG)
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@omega360 ·
please give the full site of the penny cryptos. thank you
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@nkkb ·
https://dentacoin.com/

http://dogecoin.com/
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@some-dude ·
![](https://steemitimages.com/DQmYbbVHN9mL9nSBnLY1mE18rDGFjEETTZ9mgeKSVsw6y5z/image.png)
Want 30GH FREE (REALLY) Go to https://world-mining.net/924987409/  create your account, scroll down left side panel, click "Bonus", click "Activate 30GH/s".
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@abe973t ·
Nice!
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@umerfarooqorak ·
Next Jump


https://steemit.com/bitcoin/@salahuddin2004/bitcoin-will-retest-20-k-before-30-march-2018
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@vishalbty ·
Correct! Investing in low market cap in crypto is much better than actually investing in a mining hardware. Because in the long run, mining is not profitable if the rate doesn't increase due to the increase in mining difficulty.
👍  
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@dkn ·
True. You always can sell the coin, but you cannon sell the mining power.
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@jaro ·
Nonsense. Difficulty has been increasing every year since 2009, and mining bitcoin is STILL HUGELY profitable. In fact it's about TWICE as profitable as mining Ethereum or Litecoin.
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@omega360 ·
i really appreciate the time you took to make this write up. it s very informative. however, i still need you to through more light on this issue.
i notice...that when btc price is rising, ones earning from mining is reducing. and when btc is decreasing the earning from mining increases. why this...it does not allow one to see real benefit from mining.
👍  
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@orlendgreat ·
THIS IS REALLY HOT!

https://steemit.com/blockchain/@orlendgreat/monetize-coin-the-most-anticipated-ico-now-pre-ico-has-closed-early
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@pankajwahane ·
I Like this! Please visit https://steemit.com/buddha/@pankajwahane/noble-intention-behind-steemit
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@pankajwahane ·
I Like this! Let me know if you find this right. If you do I shall follow and upvote. Please visit https://steemit.com/buddha/@pankajwahane/noble-intention-behind-steemit
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@piyushpurwar ·
not worth investment its better to buy equipment and mine it rather than  going with cloud based miner .
👍  ,
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vote details (2)
@jaro · (edited)
Except that most people don't have $6,000 to buy a new miner rig, so for them it's a LOT better and easier to sign up for online mining. 
Yeah, investing $1k to get $4k worth of bitcoin over 12 months is not worth it. RIGHT? lol
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@piyushpurwar ·
i meant if you are having an X amount you want to invest better , invest that directly in buying cryptocurrencies . the profitable yield will be higher for you .
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@pydevnopro ·
I don`t think is worthy to mine bitcoin these days, it takes to much, there are to many miners and you have to invest a lot in software and components. 
I think it`s just better to invest in other crypto like ETC, XRP, Litecoin and other "small" coins. :)
👍  
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vote details (1)
@quattz ·
Why should someone rent out their capacity for less money if they could make a lot more money from it, if they use the capacity themselves?
👍  
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vote details (1)
@rajafahad ·
great post dude
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@rippleeffect ·
If you can't afford 5/6K for a rig, anyone with an iPhone can mine coin with a mobile miner app. https://electroneum.com/2017/10/24/how-much-can-i-earn-as-a-mobile-miner/
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@indiojodido ·
What app mines coins on an Iphone?
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@rizalirawan ·
$0.04
Great post
👍  ,
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vote details (2)
@jamesmiller ·
yea, so informative
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@rizwansadiq ·
This is a good test for cryptocurrencies right now. If China does ban all cryptocurrency trading, we are going to be able to see what cryptocurrencies and exchanges are going to be able to circumvent the ban and prevail. If Bitcoin (BTC) cannot pull through this due to its current lack of censorship resistance, then it will never be able to fulfill what it set out to do in its whitepaper; be a decentralized censorship-resistant digital currency for peer to peer transactions. This will be an interesting case study and something for all of us to learn from.
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@salmanbahadur ·
https://steemit.com/love/@salmanbahadur/7-things-i-will-tell-my-children-about-love-and-life

![](https://steemitimages.com/DQmYwnawXDd5cjcgELwjEiYZQeZV4J9wwHBBc6AVUH2amPi/image.png)
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@sarah249 ·
You are assuming with the hindsight that investing in cryptos will be profitable x times. but in real life not everyone makes money. past few months have been crazy but it will not go on like that all the time. for the most part crypto was going up and down both in last few years. so there is a decent chance that your investment will keep lowering. 
however, in case of mining you keep getting the coins and if the market is bullish then it will be going up as well. When btc makes a correction, whole market goes down. 

if you can, i would suggest split your money and do mining, investing and staking. if you are good at trading or investing, then use the mined / staked coins to trade and increase that.
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@jaro ·
You don't have to be good at trading to make money mining bitcoin. Plus, 90% of traders lose money. Mining bitcoin doesn't require any skills; just thinking independently enough not be influence by the haters.
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@sarah249 ·
I am a trader and i have made some profit and loss in trading.  i am also mining ether on Rx 580 rigs at my home. i still believe the best way is to do both if you can. if you are looking for side income and dont have time then mining is good. if you have some time on hand and you want a primary income then you must have more revenue streams for stability.
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@so-anon-it-hurts ·
Please excuse my skepticism, but I'm really just interested in getting to the root of the matter. 
Do you actually pay for someone else to mine BTC for you? Would you share monthly returns/ pay rates? 
I find it hard to believe that there isn't a catch... why wouldn't the miner just mine and keep the profits themselves? My guess is that the miner makes more money from "renting out" their equipment than the actual value of BTC being mined, which means the "renter" is probably losing money. 
Genuinely interested, cheers!
👍  
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vote details (1)
@boris34 ·
Same question i had in mind.  For sure owner of equipment makes more money,otherwise they would not rent their equipment and do mining themselves. I think trick here is the payout limits. Most probably some high percent of the people who rent equipment and do mining do not hit the payout threshold and as a result leave their BTC s to equipment owner. So hashflare for example in this scenario earns money from renting their equipment and from left out BTCs..
👍  
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vote details (1)
@jaro ·
There's no catch. For a  12-month 14TH contract you'll be getting around $30/day worth of bitcoin. And miners do this because they get paid upfront. I.e. they can buy a mining rig with the money you pay them for a one-year contract. That lets them get into mining business with practically zero investment. They just have to uphold that contract for one year and then they own the mining rig.

Why wouldn't they let you buy them a mining rig? All they have to do is to run it for you for one year. So it's a WIN-WIN; you profit from mining without all the hassle with having an actual mining rig, and they get a mining rig for running it for you for one year.
👍  , ,
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vote details (3)
@drskhan90 · (edited)
this clarifies my doubt as why they are renting. put simply they mine BTC with your money for you. keep the convenience charge and gives rest to you.
but for me altcoins are more profitable. i love those tiny coins.
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@so-anon-it-hurts ·
This is actually what I was looking for, thanks! I reasonable answer to a troubling question.
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@jaro ·
The only thing that's risky is that some companies pretend to mine for you and then run away with your money. So you gotta go with a company that was in business for several years, such as Hashflare. Signup link for Hashflare is in the article above.
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@some-dude ·
Want 30GH FREE (REALLY) Go to https://world-mining.net/924987409/  create your account, scroll down left side panel, click "Bonus", click "Activate 30GH/s".
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@steem2000 ·
@jaro Wow Jerry that was a lot of work, thank you!
 I will check them out when I get home this evening and can sit down and read.
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@surajkumarsharma ·
This post was resteemed by @surajkumarsharma
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   | Want to Know More! Check out [introduction post on how to use HelpingBuddy](https://steemit.com/surajkumarsharma/@surajkumarsharma/wanna-a-boost-use-helping-buddy) 

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vote details (2)
@leoh ·
follow me, I follow you !! vote for this comment so I know who's following me !!
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@sushantgodam ·
??
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@thehermitmonk ·
$0.04
Great article, I’m going to take a look at hashflare. I mine altcoins on my computer and was thinking of buying an ant miner for mining bitcoin but I see now it is cheaper and less hassle signing up for one of these contracts. I will sign up under your link if I decide to do this.
👍  
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vote details (1)
@tnelectronics ·
Great article.   Bitcoin is a little too expensive for me to invest in.  I’ve been focusing on currencies such as ripple and trx!    Keep up the good work
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@trian ·
Nice post. Should i try to use nicehash. Can you make a post about that as well.
👍  ,
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vote details (2)
@vishalbty ·
Why would anyone mine for someone and take the headaches of maintaining it, providing internet connection to it, dealing with the heat and noise and electricity costs to earn less?
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@jaro · (edited)
Because he gets paid upfront. I.e. they can buy a mining rig with the money you pay them for a one-year contract. That lets him get into mining business with practically zero investment. He just has to uphold that contract for one year and then he owns the mining rig. 

Why wouldn't he let you buy him a mining rig? All he has to do is to run it for you for one year.
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