Mine Bitcoin At A Profit?!
If you ever wanted to mine bitcoin at a profit then no other times is better then right now to order up those mining contracts and get into gear.
Recent news out of China calls for a total shut down of bitcoin mining operations in the country what once use to be the single largest country to mine the coin. While yes operations are moving else where the amount of time and effort that goes into moving those operations will be a few months. This will most likely see a dip in the mining difficulty in the coming weeks and months allowing you to mine more bitcoin with your contacts.
For myself I mostly use Hashflare <- yes this is my affiliate link and I will be compensated for it if you use it. If you do thank you!
Via the chart above you can see the slow down of mining over the last few weeks. This will be an important chart to look at as well as the projected increase or decrees in mining difficulty over the next few weeks. As difficulty is reduced you should be mining more bitcoin at the same hash power.
indeed mining bitcoin is quite profitable, i also use hashflare and currently its so expensive to buy the hash power $2.20 for 10ghs is so expensive
It does seem expensive but when you run the numbers at the high value of bitcoin right now your break even is about 2-3 months in if not sooner if the price of bitcoin where to jump.
This is so useful and timely. Thank you so much @bitcoinflood although I currently use hashing24.com for my mining contracts. But I'm gonno try hashflare also
"China calls for a total shut down of bitcoin mining operations in the country"
^ Not something I expected. Could you provide a source? I can't seem to find anything on this (although I didn't look for long).
Best I can find is from September of last year, but still relevant:
https://www.coindesk.com/document-lists-closure-steps-for-chinas-bitcoin-exchanges/
I have been mining Bitcoin since Nov 2015 when Bitcoin was $450 :)
it is a good information for steemr.....
thanks for sharing the post
Hey @bitcoinflood
Well its right way and best work. Thanks for update and nice blog. Its informative for steemian. They mining and take better result. Keep it sharing and stay blesse
It's unlucky time for btc in China ..
i think nowadays bitcoin mining is quite profitable. it would be better if we mine other cryptocurrency.. @bitcoinflood
Thanks for sharing the post.........