ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Bitcoin Mining Global Gold Strike. Making Millions in The Digital Age.

Updated on May 23, 2014

The Bitcoin Revolution!

Bitcoin is a digitized crypto currency. It's a method of transferring money for goods. It is referred to as peer to peer; instead of bank to bank. This of course is outside the boundaries of our Federal banking system, as well as most of all Governments. The US Dollar like most countries is backed by gold. Our dollar is no longer a gold note or certificate that you can exchange for Ft Knox Prime Grade Bling.Our coins no longer have silver inside then to denote any real value.

Bitcoins then are really no different than our worthless sawbuck; it's digital Internet money. It's backed by exchanging any countries dollar for them or mining work for coins. One Bitcoin is worth approximately $116.00 US Dollars. Bitcoins is sweeping the Globe. You can imagine that this is generally unpopular with most Governments; because they have a hard time taxing something that is digital and anonymous.

What is BitCoin

It's About Control

Our forefathers wanted a Nation that was not suppressed by a big mean Government. many folks will try to convince you that The Right to Bear Arms was meant for a citizen militia or National Guard of sorts.

All one needs to do is to read quotes from our founders and you know what they wanted for American's today. That said, there is a balance between control and income tax evasion. Whatever your feelings Bitcoins is worth investigating.

Let's consider the MtGox issue. MitGox was a Bitcoin exchange located in Japan (again this is a Global Phenomenon). MitGox was hacked and nearly a half a Billion dollars was stolen. One can only guess that many Governments would like to destroy Bitcoin. However, rumor has it that many are also embracing it as a trade income opportunity.

Bitcoin has all the earmarks of a new frontier that should be investigated and invested in. Why? Because you don't rile that many feathers unless there is BIG $ Money involved.

The Bit Mining Gold Rush!

Bitcoin Mining or Bit Mining is the process of helping to solve world wide mathematical problems (Bitcoin Transactions) with your computer. Your overhead is your hardware and electricity. When you get the right milihertz ratio down; it's said to be very profitable.

I found a nifty youtube video that offers a low electricity high milihertz ratio unit that generates near $500 bucks per month. Not bad for an initial $300 investment.

Some Miners have created farms of these mining units to generate Thousands of dollars per month in income.

There are teachers and business folks also loading the software onto company computers. This enables them to mine behind the scenes while they operate for students and employees without their knowledge, as it's all background tasking.

Build a Bitcoin Miner

How helpful was this video?

5 out of 5 stars from 2 ratings of How to Make a Bitcoin Computer

Bitcoin Trading

Bitcoin trading is highly desirable right now. According to Chris Dunn professional Bitcoin trader; Bitcoin is a good investment for the same reasons that folks call it risky. It's volatile. Which means there are large swings in the market which means it's easier to make a lot of money than a level market. Fortune favors the bold entrepreneur.

Bitcoin Debit Card

Source

Bitcoin Debit Card

There is alot of debate over which places actually accept Bitcoin. Overstock does but Amazon doesn't. Subway does but McDonald's doesn't. There is now a pretty good cure; it's the Bitcoin debit by Bit Plastic.

You can transfer your Bitcoin to Bit Plastic and access it anonymously at an ATM. How cool is that? You can then spend cash; get money orders or make a deposit and use your regular debit/credit to buy anywhere that you wanna be. Bitcoin; what's in your wallet.

Bitcoin Poll

Show what you think about Bitcoin Which describes you?

See results

Not to be a Nay-Sayer

Not to be a Nay-Sayer, but I do remember a preacher of mine screaming about a one world Government; and worried terribly about a one world currency. They of course came out with the Euro and the world did not end.

In fact, even if it were prophesied; one could not change future events that are destined to happen. Just don't elect a Global Leader and get 666 tattooed on your forehead.

Further, If this is at all accurate. I have found some web listing that quoted early Bitcoin's worth at the $40,000 mark. If this is true It appears to be steadily declining in value compared to the US dollar; with the currrent value at $116.00. That said, it's hard to believe that anyone would trade $40,000 for 1 cyber coin.

Regulation

The US is currently debating regulation of Bitcoin deposits. Currently it's not a recognized currency but that may change in the near future.

China is rumored to have outlawed deposits. Canada is said to be studying Bitcoin possibilities. Basically, the jury is still out Globally.

That said, the Facebook Winklevoss twins may be heavily invested in Bitcoin. They were right once; will they be right once again?

Being an unrecognized Global currency, leaves the US touting that you swim at your own risk. They again argue that the safety net that they provide is worth the regulation, increased fees and loss of opportunity. Funny, that's what the mob's bag men say, isn't it.

It Does Grow on Trees

Bitcoin Helps in Uganda

Support Groups

I found about 2 dozen different support groups between linked-in and face-book. There is even a Bitcoin Internet casino; where you can bet you bitcoins.

Most groups tend to focus on investment support and knowledge base. If you can't find what you're looking for via a regular google search; I'd give them a try.

In Conclusion

Bitcoin is a potential Global game changer. I am a bit of an entrepreneur. The status quot hate when things potentially may change. Why? Because, they have a bigger ladder and basket to pick all that money off the money tree than anyone else does.

I can practically guarantee that Western Union, Pay-pal and other big businesses will be firmly against Bitcoin. After all, I'm sure that video tape companies were against DVD and Blue-ray.

As an entrepreneur, we look for anything that may shake that tree; so that less will hit their big basket and more will fall within my arm's reach. I say shake the fire out of that tree-will you.

Those who get on board at the onset will make the most money. Bitcoin started in Japan in 2009. It's growing around the Globe rapidly. It's the face-book of money.

In today's America; you've (The Budding Entrepreneur) got two main choices. Marijuana and Bitcoin. Bitcoin is simply monetary transfer. The powers that run the US will say that Bitcoin promotes terrorism and drugs. Yet they legalized marijuana and who knows what else.

In a crumbling US economy, it makes sense to harness the power of the larger Global economy. Don't succumb to their fears. I for one plan to try mining for it some day.

Comments

    0 of 8192 characters used
    Post Comment

    • JosephShope profile image
      Author

      Joseph Shope 3 years ago

      The investment keeps growing with interest