I will be updating this article frequently, so check back later as i will be adding tomorrow's revenue. Don't forget to Bookmark this article so you can follow with me. This is just the beginning of this case study. You can of course interact with me, as i will be replying to every single question and comment.
Have you ever wondered how Bitcoin is created or who creates it ?
This process if called Bitcoin Mining and it's not unique to Bitcoin, although the focus of this replicable case study will be on Bitcoin.
Bitcoin Mining requires a lot of computing power, you can't just mine it using your computer at home. These specialized mining appliances are called Miners, and often come in the form of ASIC enabled devices. One of the best miners you can get is the Antminer S9, it can deliver up to 14TH/s depending on the batch.
But miners are expensive, and often involve risks such as burning down your chip and completely losing your investment.
Mining Bitcoin Online, 100% risk free.
The first thing you're going to need is a Bitcoin wallet where you will keep all the bitcoins you're going to make. You can create a free wallet at Blockchain.info. 😀
Once your wallet is created, it's time to start making some Bitcoin.
1. Head to genesis-mining.com
2. Create an account
3. That's it.
Now that you have an account on Genesis Mining it's time to buy some hashing power and putting our money to the work. For the purpose of this tutorial i am going to buy 700$ worth of hashing power hoping that i would get it back here on steemit (Don't let me down with that upvote) i am not using any affiliate codes, and i am in no way affiliated with nor by Genesis Mining.
With that said, let's continue with our investment...
One thing to keep in mind. Genesis Mining offers you the possibility to pay using your credit card. But in that case, you won't be receiving any payouts for 30 days until the transaction has fully cleared without issues. But for the sake of speed, i will pay using Bitcoin.
Order is filled and i can start mining.
As you can see from the screenshot, i have a total of 72TH/s of Hashing power. This is enough for me to generate $ 67.30 per single day.
The payouts should now arrive in the next 24 hours following my purchase. Payouts arrive daily and are directly sent out to the Bitcoin wallet you have created in the first step.
If you have paid using your credit card, don't worry if your payouts aren't showing yet.
So far i have invested close to $ 8000.00 to get to where i am. The rest of my hashing power comes from re-investing my earnings. I am making a little bit more than $ 2000.00 and reinvesting almost every penny, my ultimate goal is to reach a steady $ 10 000.00 per month.
Bitcoin mining can be quite expensive, but if you hold on for a while and think about it... It's not. A year ago BTC was rocking at 700$ a piece. Now it's up by more than 400%. If your intent is to mine your coins and hold them, i am more than certain that you could end up with a lot of money.
I will be updating this article frequently, so check back later as i will be adding tomorrow's revenue. Don't forget to book mark this article so you can follow with me, this is just the start of this case study. You can of course interact with me as i will be replying to every single question and comment.