There are a loterijlot of misconceptions about bitcoin right now. It doesn’t help when banks and governments are telling they help to fund illegal activities. The thing is other currencies such spil the US dollar, Canadian dollar, Yen, Pound all help to fund illegal activities.
Others rechtsvordering it is backed by nothing. Well, every currency ter the world is backed by nothing spil well. Not a single currency of any major country ter the world is backed by gold anymore. Spil a matter of fact, when governments need more money they just print more. This is what causes inflation and hyperinflation. They print the money and it is backed by nothing.
Banks and governments will do everything to scare you away from them. Why? Because they can’t control it and don’t make money off of them.
The other misconceptions are it’s too late to make any money with bitcoins now. It’s costs way too much. You should have got into bitcoins a few years back.
I have bot mining bitcoins since Oct 2016. I make money at it. I find it interesting that when I mention bitcoins to people they commence telling mij about what they know about bitcoins. What they are voicing is other peoples’ opinions about BTC not anything they know about them. Ter fact, they begin telling mij why no one can make money at BTC. After I hear what they have to say, I don’t bother mentioning that I have 29 BTC miners with 7 more on the way and will be buying more spil soon spil I can get them.
When I very first embarked mining BTC, ter Oct 2016, they were trading at approx. $637 US/$850 Cdn. While I wasgoed writing this article BTC were trading around 3900 US/4702 Cdn. They did klapper a high of almost 5000 US/6200 Cdn ter Aug 2018. I have also seen stories like ter July when BTC lost 42% or more of it’s value. What they didn’t say wasgoed by Aug Five th it had gained it all back.
Here are some of the ways to make money with bitcoins
The very first one is you can mine them by purchasing a BTC miner. When I very first began te Oct 2016 you could buy a miner for 1400 US/2000 Cdn. Now the cost is te the area of 3300 US/4000 Cdn. That just means your come back on investment is longer. The average BTC miner earns about $500 US/600 Cdn before paying for power. The cost of power will vary. My average month bill vanaf miner is 100 US/120 Cdn. So after power they are still making money. The major issues with setting up your possessor miner farm is you need a lotsbestemming of power. Each machine requires about 1600 Watts of power to run. The average household may be able to treat 1 or Two of thesis machines before they gargle a breaker. Each machine makes a loterijlot of noise and generates a loterijlot of fever. I have 7 running ter my basement during the winter and with the furnace turned off my house wasgoed sitting at 93 F/34C. It wasgoed 5F/-15C outside! To set thesis up and get them running does take a bit of a learning curve spil well.
The other way is to commence day trading the BTC like any other currency. To do this it will pretty well require full-time effort by you or someone you trust. From June to Jul to Aug you could have doubled your money if you bought at the low point around Jul 9 th and then sold around Aug 15 th . There are online exchanges where you can buy and sell BTC. They are predicting that within the next 3-5 years BTC will be worth anywhere from $Ten,000 to $100,000 US/Cdn. So you can buy a few and just rail the sways. It would be best to buy them and disregard BTC for the next 3-5 years then check how much they are worth. There will be a lotsbestemming of ups and downs ter that time. I just want to save you the anxiety!
You can buy a miner on a cloud-based mining pool. You don’t have to worry about the noise, warmth or power bill. The one thing I noticed about the cloud-based ones are they take upwards of 40-70% of the profit for themselves and give you the surplus. You also have to pay spil much or more for a real miner to get ter. So you can make money there just it will take long to get your original investment back.
Another way, which is more safer, is to invest or loan someone money with a assured comeback so they can buy the miners and take care of everything. I have done this with my friends and suggest anywhere from 10%-20% annual rate of come back, depending on how much they invest. Some of the early people who loaned mij the money received a 35% rate of terugwedstrijd. I can’t suggest that now because of the increase ter the price of the miners. Every month they get an rente check and at the end of 12 months they get their original investment back. This is a very safe way to make money and get a better rate of terugwedstrijd that what you are getting at the handelsbank.
Can you make money at BTC, absolutely. It’s like I tell my friends wij are ter the 21 st Century Bitcoin Rush, which is similar to the Klondike Gold Rush of 1896! My miners are working 24 hours a day, 7 days a week making mij and my friends money. So hop on houtvezelplaat for a wild rail! It’s indeed arousing!