The Essential Guide to Bitcoin Mining – A Cryptocurrency Tutorial : [PDF Download]

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“You can mine for Bitcoins and use those mined Bitcoins to spend or send or use them as investment capital. To mine for Bitcoin, you need to buy a special computer that’s made especially to mine Bitcoin. Bitcoin mining is one of those areas in life where you have to spend money to make money.

You really need to go “all in” if you want to profit from mining Bitcoin. The biggest miners spend tens of thousands of dollars. Don’t expect to make a profit if you spend $20 or $100.

You can certainly enjoy Bitcoin mining as a hobby at this low investment level but if you want to profit from Bitcoin mining you need to shell out at least hundreds of dollars and have a relatively low electricity cost. I will go more deeply into Bitcoin mining in Chapter 5.

Another way to get Bitcoin is to ask for it as payment for a service you provide. For instance, if you give guitar lessons you could ask for payment in Bitcoin as a payment option.

This would work for any service you provide. Some examples are: cutting the grass, shoveling snow, editing papers, housecleaning, commissioned artwork, babysitting, tutoring.”

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