Bitcoin Mining VS Gold Rush Mining

What do Bitcoin Mining and Gold Rush Mining have in common? A lot! And you should know more about this! It will change your mind how you look into crypto mining!

Bitcoin Mining Difficulty VS Gold Rush Mining Difficulty

Most of us should agree that the mining difficulty is not the easiest thing to explain to people that are not familiarized with this stuff.
“How to explain the concept of mining difficulty to my grandma?!”

I came across with the similarities between Bitcoin (and altcoins) mining difficulty and the gold mining difficulty.
The similarities are even bigger if you compare Bitcoin mining (the current Gold Rush) with the California Gold Rush, from 1848 to 1855.

Actually the similarities are huge in terms of the economics, psychology and sociology. Let’s see…. hum… I like so much charts that I’m going to do one to compare both Gold Rush!

Let's compare!

Bitcoin Gold Rush	California Gold Rush
Bitcoin Mining became very popular to “normal” people	Gold Mining became very popular to normal people, individual miners
During the Bitcoin Gold Rush, Bitcoin price climbed a LOT	During the Gold Rush, Gold price more than doubled
Thousands of people started mining bitcoin	Thousands of people started mining gold - San Francisco grown from barely 100 prospectors in 1846 to more than 30 000 in 1852
Some people get rich with Bitcoin Mining, half of them breakeven, some lose money	Studies say that half of the miners made some modest profits after taking into account the costs. Some got rich
Many people that don’t hold or mine bitcoins get rich with them. They are the service providers like exchanges and suppliers like mining equipment manufacturers	The ones that profited the most from the Gold Rush were the merchants, mining equipments sellers and gambling sites
Mining equipments got really expensive once resellers want to make huge profit. Example: the Antminer D3 that is sold by Bitmain for $2699, can be bought on ebay for more than $15000	Mining equipments really sore. A simple shovel could be sold for $36 (today aprox. $1007). there was hyper inflation in San Francisco due to huge demand and scarce goods
Miners organize themselves in mining pools to increase luck	Miners organize themselves in cooperatives to increase luck
Development of new technologies to mine more Bitcoins	Development of new technologies to mine more Gold
More miners enter in the Bitcoin Rush, more competition exists in the market and harder is to mine Bitcoin. This is called the mining difficulty	More miners enter in the Gold Rush, more competition exists in the market and it is harder to mine gold because it gets more scarce

Ok, we can find a lot of similarities but you can also find some differences that make your like way much more easier today!!!

Yes, it is waaaaaay much easier for you to mine than in those days!!! And if you don’t mine yet and you are in the crypto game, it’s because you have another good source of income like crypto trading or because you are a f0cking pussy!!!

Yeah!!! Thats right!
Miners that time traveled thousands of kilometers while you can mine from your computer, purchasing Cloud Mining contracts from a Cloud Mining Company!

Miners during the Gold Rush would leave everything behind and risk their lives! You don’t need to get out of home!!!

Miners during the Gold Rush would risk every penny to travel, buy equipment and buy expensive food because the demand was so high! In the other hand, you can start mining in some Cloud Mining companies with as little as $1.20 or buy an Antminer equipment for about $2000 if you have cheap electricity!

In 1850, a shovel would cost the equivalent to $1000!

Oh… and those guys, bitching about the mining difficulty! They don’t know shit!!! if you do your research like I did, you should know that the difficulty is pretty much correlated with the price variation!!! Take a look at the article Bitcoin Mining Difficulty is a Myth!!!

So stop procrastinating, this is the Best Moment to Start Mining AND START MAKING MONEY TODAY!
Take a look at the link in the comments if you are interested in mining in the best Cloud Mining Company in the market (at least in my opinion).

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