This is a sample of a copywriting project.
Bitcoin was the first and is by far the most famous digital currency. It is more than just the face of cryptocurrency. It’s multi-faceted. Both highly technical and hugely competitive while at the same time constantly evolving.
Anybody can become a Bitcoin miner by running software with specialised hardware. In the beginning, the mathematical puzzles which needed solving to be awarded Bitcoins were relatively simple. A personal desktop computer was enough to carry out the task and to reward the user with Bitcoin. However, when the network expanded, the puzzles grew increasingly complex. Meaning more and more computer processing power is needed.
Can I make money mining?
Mining has become a highly competitive industry and there is serious money to be made. Lone miners working from home are in all honestly no longer getting rich overnight. A shift in the way people mine has made it easier for more people to get involved. You need to think bigger than your home computer if you want to see a substantial return.
Can I use my home computer to mine?
In the early days of Bitcoin, anyone could find a new block using their own computer's CPU or high-speed video processor card. That is increasingly difficult in today's market. As more and more people started mining, the difficulty of finding new blocks increased substantially. To the point where you need to be using specialised hardware. It's the only cost-effective method of mining today. To start mining Bitcoins, you will need to purchase some Bitcoin mining hardware. Custom Bitcoin 'application-specific integrated circuit' (ASIC) chips offer an enhanced performance of up to 100 times more capable than dated systems. They have come to dominate within the Bitcoin mining industry. Attempting to mine Bitcoin with anything less will end up with you spending more money on electricity costs than you can expect to earn. It's essential to use the best specifically designed Bitcoin mining hardware that you can afford in order to mine bitcoins profitably.
Is it still worth mining Bitcoin?
Absolutely. Over recent years Bitcoin mining has become increasingly popular as its value has become huge. Once thought of as a flash in the pan, an idea mocked by many, it is now taken seriously and everybody wants to get in on the action. The result of this means that nowadays, this type of mining is considered a great business opportunity. There are many people and companies, investing large sums on money in resources. All in the hope that they will be able to mine Bitcoin faster than their competitors.
What do I need to start mining?
Firstly there are your basic overheads to consider when you want to start mining Bitcoin:
1. Electricity - costs get quite high if you aren't using optimal equipment
2. Internet - it goes without saying that you need to have a fast and reliable connection
3. Location - it is vital to make sure that Bitcoin mining is legal where you are planning to mine.
4. Maintaining hardware - to make sure everything is running well
5. Taxes/accounting - costs that will be taken from your mining profits.
Depending on how you chose to mine there may be other costs involved of course.
Before you start mining you need to decide what route you will take. You have the option of purchasing your own (potentially very expensive) hardware and setting up your own “rig”. Or alternatively, you could use a cloud-mining company. They allow you to mine Bitcoin without the need to keep upgrading and maintaining your hardware.
What is cloud mining?
First off, cloud mining is where you lease space with an already established mining farm to mine Bitcoin. They remove all the risk from a Bitcoin mining setup. You pay them a fixed fee for hashing power. Some companies charge you a small maintenance fee for the service. But you still get to keep the remaining Bitcoins that you earn. You also get to choose the length of your contract. So you aren't required to make a long term investment if you decide it is not for you.
That sounds simple.
That's because it is. If you're looking for an easy way into the Bitcoin mining industry this could be the best way forward. It’s easy. It really is. There's no need to buy and maintain large expensive setups. You don't need to find space for the rig. No need to worry about the noise, heat, updates, potential crashes or anything else that is involved in the day to day running of Bitcoin mining. If you’re interested in starting mining Bitcoin but don’t know where to begin, do your research. There are no fast and hard rules on how to start. Find a way that works for you, if it stops working find another. It is pretty easy to switch it up so there's nothing stopping you from starting Bitcoin mining today.