Starting out with Bitcoin Mining
I have been mining Bitcoin since November 2015 and in that time I have mined over 6 BTC of which over half I have withdrawn and shared with members of my pool and spent myself. The rest was reinvested to get additional mining pools.
Bitcoin Mining Pools
There are 3 mining pools and a Founder Pool. When I started I got a Mining Pool 1 and then invested in the Founder Pool. The pools are mining for 1000 days. This image is just for information because people can buy shares in my pool for 49.99 euros.
This meant I had the following pools when I started 2 years ago:
- 2 x Pool 1
- 1 x Pool 2
- 1 x Pool 3
With the reinvestments that has been done I now have:
- 5.3017 x Pool 1
- 1.8898 x Pool 2
- 2.0271 x Pool 3
Each new pool investment mines for an additional 1000 days so almost continuous mining.
My Mining Syndicate
Since I started I have given family members, friends and others shares in my pool and then mined for them. They don't need to do anything as I handle everything for them. I keep the bitcoins in my mining wallet and when people want a payout they send me an e.mail and I send them the balance of the bitcoin they have earned. Everyone gets a web page (this is just a demo page and Joe Bloggs is not a real person), where they can see what they have mined.
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Pool Payouts
Payouts are only done with bitcoins and not the local currency amounts so when it comes time to request a payout you will need to have a Bitcoin Wallet. The payouts will be able to be requested on the persons web page. The payouts might take 24-72 hours so people must be patient. There is no minimum payout limit yet but this might be added later depending on the volume.
Joining the Mining Syndicate
I sell shares in my pools for 49.99 euros and people can have as many shares as they like.
These are the payment options:
Send 49.99 Euros to my PayPal Address: colin.sydes@gmail.com
Send 0.0178 BTC to BItcoin Address: 12pAsyMdZoTHPvkiRAZiuQhC8bF4DLbYpQ
Send 107 SBD or 260 STEEM to my Steemit Wallet: SydesJokes
Note: The BTC, SBD and Steem prices will fluctuate as the coin prices change.
If you would like to join me with mining contact me on Facebook Messenger or Telegram
Where is mining done & why share pool with others
The BitClub Mining Network is operated from a datacenter in Iceland that utilises state of the art cooling and powered by renewable energy sources like GeoThermal.
People ask me why I am inviting others to join my mining syndicate when it has been running for 2 years and I could just keep the bitcoin that I mine. The answer is twofold:
I was lucky to get into Bitcoin when I did when price was $450/coin so I want to help others benefit from bitcoin mining
I want to expand my mining pools, I want to double it's size in next 12 months, so the money I get from new members joining I will buy additional partial and full mining pools.
The additional mining pools mean I can mine even more Bitcoins that I share with my members.
Additional Resources
- BitClub Network - No need to signup but you can if you want to
- Bitcoin & BitClub Network - Video
- Earn Bitcoin Daily with BitClub Network- Iceland Data Center Sneek-Peek - Video
- Blockchain.info Pools - BitClub Network has 2.6% of total mining capacity
- Coinbase Exchange - Get yourself a Coinbase Bitcoin Wallet (There is also a mobile app for Android & iOS)
- Ledger Nano S - You can also store your Bitcoins in a secure hardware wallet
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