I will be investing between $5000 - $10000.. At a website like CEX.io - no hardware, no electric costs. I would like to partake in cloud mining.
With Bitcoin cloud hashing you can forget about the most frequent mining problems, such as:
Massive electricity consumption,
Constant connectivity issues,
The need to provide cooling and space,
Annoying noise,
Other hardware maintaining issues
Topic: Bitcoin Mining as sole source of income - page 2. (Read 1414 times)
I would like to know how much I would have to invest in a site like CEX.io to make Bitcoin mining my sole source of income.
I plan:
I plan:
- 1. Invest in Bitcoin mining
- 2. Reinvest 50% of monthly revenue
- 3. Gain wealth.
You need:
1. Cooling
2. Electricity
3. Efficient miners
Quit-my-job style mining is only attainable through a large starter investment and possibly discussions with your power company and an electrician. Most outlets only allow 1200 watts max through the plug. You'll need a new rail ran from the breaker box if you really go big and "build wealth".
It gets expensive, but that also assumes you're in a developed country. What are your real goals?
I would like to know how much I would have to invest in a site like CEX.io to make Bitcoin mining my sole source of income.
I plan:
I plan:
- 1. Invest in Bitcoin mining
- 2. Reinvest 50% of monthly revenue
- 3. Gain wealth.
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