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Is bitcoin mining profitable?

Is bitcoin mining profitable?

Every new industry and new market that is introduced to the world, the winners are those who are among the first to enter and receive often huge profits. Bitcoin mining was no exception, and the first ones in the market made huge profits, but not because mining and mining were lucrative, but because they kept their mines at low prices. (For example, when bitcoins were below $ 1, or a few years later when they were $ 10, or even a few years later when they were a few hundred dollars) they did not convert their bitcoins into dollars. They kept their bitcoins and sold them for several thousand dollars.


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But this does not mean that mining is not profitable and that only by increasing the price of bitcoin can it be economically viable. Each job has its own concerns and different jobs and income methods should not be objectively compared. If you want to look at mining as a property rental, car rental, bank investment or risk-free forex investment, you will no doubt be knocked out of the market and careless about all the coins and digital currencies!

How to make huge profits from bitcoin mining?

good job! This became a question worth answering. In order to make huge profits from mining, you need to look at mining with respect. Just buying a mining device or getting a cloud mining subscription can not bring you huge profits. As a team that has been involved with digital currency markets from the beginning, and along with testing and reviewing various brokers and following them from the beginning, such as Forex Time and Alpari, as well as investing in Forex, we have tried to use this market as a source of income. Well, we followed the following method:

  1. First, we decided to buy anti-mining equipment in an area with cheap electricity. So we started with 250 anti-miner devices. At that time, devices were declared on the basis of their power per second, and they were not yet as advanced and powerful as they are today.
  2. Then, over several months after deducting maintenance costs, we extracted about 20 bitcoins. It was at this time that the machines gradually began to wear out and fail one after another. We also decided to sell the other miners who were still working as second-hand devices to prevent our initial capital from being zero. We eventually converted this capital into bitcoins, leaving us with about 25 bitcoins.
  3. The extracted currencies were also eroding in our wallets, and the price did not rise above about $ 250, which it did not! Finally, we decided to invest some of this capital in bitcoin cloud mining.
  4. With the sale of 10 bitcoins and the provision of cloud subscriptions from the major sites of the time, we resumed mining. By the end of the subscription period, we managed to convert those 10 invested bitcoins into 18 bitcoins.
  5. Finally, in 2017, with the right decision, we sold all our currencies at a price of $ 17,000, and through this, we made a capital of $ 561,000. Interestingly, our initial capital when entering this market was only $ 25,000. That means more than 1000% passive profit (Passvie Profit) in less than 6 years, effortlessly!

This process has been done thousands of times by thousands of different people at different prices and times and with different investments, and each time has resulted in nothing but success for that person.

Can extraction in any way have the mentioned profit?

The answer is definitely no. It is strongly recommended that you do a thorough research before doing anything in the digital currency market. If we had extracted the cloud instead of buying the device from the beginning, we would have made much more profit, but at that time, this concept did not exist at all. So in any case, try to make the most economical decision possible. The same goes for bitcoin mining.


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