Written by : joel nzoda on Digilah (Tech Thought Leadership)
Bitcoin mining is rarely a profitable business for individuals. Bitcoin ‘s popularity has generated huge competition which makes it inaccessible.
Most often only industrial sites manage to profit from this activity. Before you venture into this adventure, I invite you to read the (already old) testimony of Greg Ryder and to visit the space dedicated to mining on the Bitcointalk forum .
Note in passing the existence of companies that practice the “cloud mining” and sell computing capacity to their customers who receive in exchange the fractions of mined bitcoins, after deduction of management fees. Be careful though, some services are often very disappointing, when it’s not just pure scams. In general, even if practiced seriously, cloud mining is rarely profitable.
Practiced on French (or European) soil, cryptocurrency mining is only recommended for people who have, for domestic purposes, their own green electricity generator (solar, wind, geothermal, hydraulic) without having the possibility of reselling production surpluses on the public network.
Another possibility to make mining rational in France is to use the heat produced to produce hot water, this is the proposal of the French startup WiseMining.
Most searched question
What is cryptocurrency?
What is bitcoin and how does it work?
Most searched queries
Hello readers! Hope you liked what you read today. Click the like button at the bottom of this page and share insights with your colleagues and friends!
For more such amazing content follow Digilah