How i earned my first Bitcoin 🔥
This is my story on how I earned my first Bitcoin, and what I learned along the way. In December of 2013 I downloaded Bitcoin-QT after hearing about the meteoric rise of Bitcoin. At the time the price was in correction from the all time high of 1163 and was at 651. I had missed the train.
At this time I started to visit r/Bitcoin more. I didn’t understand a thing I was reading. It’s like I stumbled across another language, with so many references to concepts that were completely foreign to me. I am by no means a computer expert. My competence level is average.
The highly technical language used in this sub and in the Bitcoin spaces is a barrier of entry to non-tech savvy individuals. But it is also an attraction for people who have a thirst for knowledge. And once you understand the technical side of Bitcoin it becomes more attractive. By its very nature Bitcoin is a self sustaining unit of account that is incorruptibly honest. Reading those words is entirely different from understanding what they mean. And once you do understand what they mean, what Bitcoin means, Attraction Amplified. So after lurking for a while and learning the basics, I came to this simple conclusion. I wanted it. But I honestly couldn't justify out right buying it.
So I set myself a goal. I’ll try earning just .1 bitcoin. Looking back, this took me way too long because I sticked with the faucets and paytoclick sites for way too long. But once I got go my first .1 BTC in February of 2015 I set myself a new goal. To earn one Bitcoin. My first Bitcoin wasn’t going to be mined or bought, but Earned. And 5 months latter I achieved that goal. By doing this I learned so much about the Bitcoin ecosystem.
Chart of earnings over time. Blue is earnings per day. Red is total earnings over time.
The first thing I learned was that faucets are a huge waste of time for earning Bitcoin. But they’re nice to begin with just to get a feel for the mechanics of transactions.
The second thing I learned was that I could earn on average around 1500bits per day using Bitcoinget to do small online tasks, like visiting sites or doing short surveys. But, I have a love hate relationship with Bitcoinget. On the one hand, I’ve earned a good amount with them. But on the other hand, their jobs suck balls. The majority of the tasks on their site are not worth the time to complete, and many don’t work properly. The key is to know which tasks are worth doing and which are not. One in ten tasks on Bitcoinget are worth doing, and that’s being generous. But by using Bitcoinget I was able secure a steady supply of Bitcoin.
The third method I learned for earning Bitcoin was giveaways. Changetip and sign up bonuses from sites like circle were very lucrative for the time spent on singing up. Just by visiting r/Bitcoin regularly you can get a fair amount of Bitcoin through giveaways.
The fourth method for earning BTC, and the most profitable, was using r/Jobs4bitcoins. My first job I took for this method was video editing for some kind of school project/feminist propaganda. The second job I took from Jobs4bitcoins was a excel research project, finding the smart phone penetration rates throughout Africa. This last job tipped me over the edge of .95BTC to 1.25BTC. Both jobs paid quite fairly for the task involved. Protip: never submit work before receiving payment first/use an escrow service.
Jobs4Bitcoin is hands down going to grow into something more. There is huge potential for people around the world to connect with someone else with the skills they need for quick work. Bitcoin enables this seamlessly and empowers individuals to pick and choose their work for themselves. So, shameless plus #2, if you need someone who is good at excel/researching literature/synthesizing large amounts of data, I’m your guy. Video editing too!
Along the way I’ve learned the Bitcoin lingo, set up multiple wallets using Armory, Electrum and Mycelium. I discovered the wonderful world of multi-sig addresses, and the benefits they offer for security. I’ve also learned how to store the backups for these in exotic offline devices like calculators and digital cameras. I’ve even attended a Bitcoin ATM release event, Cool stuff.
Conclusion: Bitcoin is simply amazing and amazingly simple in its simplicity. Overall it’s been a fun experiment, and I’m glad I did it, but this is definitely not a method for everyone. Buying from an exchange or ATM is much faster to acquire BTC. This is why I’ve joined an exchange and plan on buying some more BTC.
My new goal is 2.1 BTC, but I don’t think I’ll be satisfied until that coveted 21 BTC mark. 1 in 10 million here I come, 1 in a million one day soon. Maybe one day when we’re all grey and weary with the years of Bitcoin reaching planet after planet past the moon, I’ll tell my great-great-great-grandchildren that I earned my first Bitcoin. And they’ll either ask me, “what’s a Bight-coin?” or stare at me in silent wonder. I don't know where Bitcoin is going. But I do know that I want it. Other people want it. And there's only ever going to be 21 million.
I had fun writing this post and I hope you enjoyed reading it. Here's to drinking the moon-aid.