Hello steemians, I am back again for those that want to get there hands dirty with bitcoin profits. Today i will be sharing with you what I have learnt about bitcoin mining.
For a while, I have been into Bitcoin mining business and I have been getting paid sometimes big and little.to be sincere little at time because it depends on the price of bitcoin in the market. Along the line, I have learnt more of important lessons about Bitcoin mining and that's what I want to share with steemians because this infirmatiob is going to help you to remain in a position to make profits for a while in the BItcoin mining sector.
what are the needful remain Profitable?
It is simple, If you are a miner which I suggest you should be you should form the habit of upgrading your mining power/hashrate or facilities according to what you can afford.
This is very important for you to increase your daily mining profits. Yes it is.
It's that very easy but am sure that many of miners do not obey this law of mining profit strategy that is why i have concluded to write a post on it so i can encourage us to start taking it seriously.
Hmmm! I know some of steemians will think that the reason we need to upgrade our hashrate in mining is for us to mine more bitcoin. Yeah that is true , but it is beyond that.There is the other thing you may not know about this strategy:
If you are mining Bitcoins with the same hashrate for a long period of time, your daily income will start decreasing and this is simply because more miners are connectingto the mining environment, bringing in their own powerful machines and they are increasing the total number of hashrates in the bitcoin network which will keep on increasing the difficulty, I mean hashing which is a degree of how difficult it is for your machine to make some money, which will lower the profit that you will make.
That's the reason why you will make low volume Bitcoins over long periods of time when you fail to upgrade your mining hashrate .
DOES LOW VOLUME OF BITCOIN MEAN LESS PROFIT ?
Hmmmm!
This is another very crucial question that deserve answer.
The value of Bitcoin is generally on the increase and depending on the rate at which the value of Bitcoin is increasing as against the rate at which the difficulty rate of hashing in bitcoin network increases gives you the value in terms US dollar that you are mining everyday.
In summary: let assume the value of Bitcoin increases from $2000+ to @$3000 and you are mining only 1 Bitcoin everyday or less, your profits will automatically soar from earning $2000 daily to $3000 daily! Know that you have realise how profitable mining bitcoin can be, please take your time to upvote this articles.
This is the series two of bitcoin earning strategies, all questions will be attended to.
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