Unfiltered

Is There Any Shame in Mining Bitcoin?

People have related bitcoin with their weirdest fantasies. The human mind is crazy, be that as it may, bitcoin is sensible and not crazy.

Making money in bitcoin may seem simple but it does take a little bit of patience and dedication, it is good extra cash though. Making bitcoin money by mining bitcoin or by working for bitcoin, it cool too, it allows people to make fair amounts of money, no hacking, no unfair work, the worker is treated fairly and rightly because bitcoin has no boss or owner, it is a owner-less entity run by the workers. It is like a cooperative, where all those working own a small part of the whole business. It is a new format thus hard to digest.

Also, thus very hard to understand and very easy for people to comment on it.  The earning by any means is not unfair, illegal or wrong. We live in a world of moral high priests and it might be very ordinary for people to rationalize and morally equate things, but there is hardly anything immoral or moral about the idea of bitcoin.

Capitalism, socialism and communism can be reduced down to morality. Currencies can not. Debt, loans, mortgages can be thought of as moral or immoral, the use of money can certainly be classified under the headings of moral and immoral, although, morality too is a social construct. But, earning as long as it is not hacking, can not be.

Just by virtue of being digital the traditional and closed minded skeptical come out and start causing dogmatic havoc. It is hilarious. Following is how people mine and earn, the complete process, see for yourself if it is good enough for you.

1. You have to purchase custom mining hardware
2. Obtain a Bitcoin wallet
3. Secure your wallet
4. Decide between joining a pool or going alone
5. Download a mining program
6. Run your miner
7. Keep an eye on temperatures
8. Check your profitability.

If you are satisfied, you stay, if not, you sell your equipment on ebay or Amazon and then move on to what you think are better things.

The miners are rewarded by two things, one is by letting them vote after they have mined or been a part of the system long enough, second, in bitcoins. The total number of bitcoins to be circulated are limited and a lot of them have been given to miners for all their work. Miners also earn in tips and it is estimated that they will begin to earn way more in tips than the whole value of a bitcoin for each block they obtain.

So, happy money mining this holiday season?

Show More

Khunsha Javed

A Filmmaker, PR enthusiast & Editor of BlockPublisher-Unfiltered. I like things that make my brain tingle. Email: khunsha@blockpublisher.com or editor.unfiltered@blockpublisher.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.