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should i mine bitcoin

should i mine bitcoin

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Best answer


The short answer is yes. The long answer鈥?#32;it鈥檚 complicated. Bitcoin mining began as a well paid hobby for early adopters who had the chance to earn 50 BTC every 10 minutes,mining from their bedrooms. Successfully mining just one Bitcoin block,and holding onto it since 2010 would mean you have $450,000 worth of bitcoin in your wallet in 2020.

People also ask


  • Can you really make money mining bitcoin?

  • The short answer is yes. The long answer鈥?it鈥檚 complicated. Bitcoin mining began as a well paid hobby for early adopters who had the chance to earn 50 BTC every 10 minutes, mining from their bedrooms. Successfully mining just one Bitcoin block, and holding onto it since 2010 would mean you have $450,000 worth of bitcoin in your wallet in 2020.

  • Should you buy Bitcoin on an exchange or mine it?

  • This is why buying bitcoin on an exchange can be a simpler way to make a profit. However, when done efficiently it is possible to end up with more bitcoin from mining than from simply hodling. One of the most important variables for miners is the price of Bitcoin itself.

  • Is bitcoin mining profitable or worth it in 2021?

  • Is Bitcoin Mining Profitable or Worth it in 2021? Malcolm Cannon Jordan Tuwiner Last updated March 2, 2021. The short answer is yes. The long answer鈥?it鈥檚 complicated. Bitcoin mining began as a well paid hobby for early adopters who had the chance to earn 50 BTC every 10 minutes, mining from their bedrooms.

  • Is bitcoin mining more profitable than Ethereum mining?

  • While the value of both cryptocurrencies is expected to increase in the coming years, that of bitcoin is expected to rise much faster. Since you are rewarded in the coins you are mining, it would mean that bitcoin miners would earn more than those who mine Ethereum.

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