In The Not Too Distant Past
Not too long ago, it seemed as if Bitcoin mining was for the technically savvy. Linux gurus, computer programmers, or those who possessed a computer science background could easily grasp the concepts involved in mining, but it certainly wasn't a task for your Average Joe.
Furthermore, according to Google Trends, the search volume related to Bitcoin mining was 700% lower back in January of 2017 when compared to today's search volume.
In The Super Current Present
Many companies have popped up in the past several years who have made the Bitcoin mining experience far less burdensome than it once used to be, however. Bitmain is one such company, and they have been leading the way with advanced plug-and-play Bitcoin miners. These miners don't require much know-how, either. In fact, they can be setup, configured, and earning you Bitcoin within the same day you receive them.
It's become so popular, and so seemingly easy, it's reported that the mining of Bitcoin consumes more electricity than the entire country of Ireland. However, even with this fact in mind, what shocked me more was this:
That's correct! Mining has become so popular that Walmart is now selling Bitcoin Miners! In fact, they are selling Bitcoin miners directly from Bitmain.
Reality Check
Before you get too excited, though, I wanted to mention a couple of facts:
- Walmart has marked up the price of these miners by over $5,500 when compared to their current price on Bitmain.
- With the current mining profitability in mind, it would take you, roughly, 377 days to make your money back if you were to purchase one of these from Walmart.
- With how fast this technology is moving, I can't imagine these miners will retain their value for another year, which will also increase the amount of time it will take the purchasers of these miners to recoup their investment.
So, before you go out and purchase one of these, please do a little bit of research!
I hope this helps some of you out. If anyone has questions, or they need help with anything crypto-related, please let me know! If you're looking to invest in cryptocurrency, you can signup at Coinbase or Binance (both affiliate links). If you're against using affiliate links, I'm not offended in any way, and you can use the following two links: Coinbase and Binance. Both of these exchanges are my favorites, Coinbase for Bitcoin, Litecoin, and Ethereum, and Binance for several altcoins.
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