Joey explains how bitcoin mining can be a lucrative money making machine for anyone - with just a capital of $23 to start with. This business has a potential to give returns of more than 400% per annum, with hardly any risk of losing your investment. For more free guides on Bitcoins, visit https://www.bitscoins.net

1. Bitcoin Mining Made Easy
By Joey George
Contents
BitcoinsIntro1
2 BitcoinWallet
AboutMining3
BecomeMiners4
5 Legal

2. Bitcoins Intro
Bitcoin is a form of virtual currency- ie. if you have bitcoins,
you cannot purchase goods by handing notes or coin like
objects to the seller. Bitcoins are mainly used for electronic
purchases and transfers.
You can use bitcoins to pay friends, merchants, etc. who
accept this form of payment.
Every single bitcoin purchase is immediately logged
digitally (on computers worldwide) on a transaction log
(called blockchain) that tracks the time of purchase and
who owns how many bitcoins. This way many people own
the log, but still it is safe with encryption.
BLOCKCHAIN
Bitcoins are growing in popularity. A few years back, they
were largely used by speculators for online trading; it
peaked its price to $1000+ and lead to a burst in a month,
causing many people to lose money. The people who lost
money with bitcoins were ones who were trading on it. They
lost money like they would, on any stock speculation.
This peak-burst phenomenon made it less popular. But
now that the price has stabled, its popularity is again
increasing.
Many big companies like WordPress, Overstock.com, and
Reddit accept Bitcoin, and a growing numbers of brick and
mortar stores are starting to accept them, internationally as
well. More than $1.5 billion worth of bitcoins are currently in
circulation around the world, with millions of transactions
occurring daily.

3. Bitcoin Wallet
You can obtain a free 'Bitcoin wallet' from any of the virtual
providers like blockchain.info, localbitcoins.com,
coinbase.org. There is no limit to how many wallets you
can own, but its best to maintain one or two max.
Your Bitcoin wallet is essentially like, any other wallet,
except its purely digital. You can download your wallet on
your computer; its a good habit to backup your wallet
frequently. Your wallet can be stored on computer or any
cloud drive as an encrypted file.
Never forget your wallet password, there is no
way to retrieve it back.
It takes just a few minutes to get a wallet, and then, you
can start accumulating bitcoins.
To collect bitcoins, there are mainly 3 ways:
1. Exchange trading
2. Selling services through a website.
3. Bitcoin Mining
Exchange Trading is the most lucrative and devastating form
of earning / losing bitcoins. Many people have earned
millions in the last bitcoin trading spike, and millions have
lost money by being part of that bubble. The key to exchange
trading is to invest when low, and wait for a spike sufficient
enough to sell off. But most people get in when the bubble
has already started expanding. Exchange trading will require
another book to be explained. So lets stop here.
Second method is the poor man's method - sell good/services
online, but instead of just accepting credit cards, allow
customers to transfer funds into your bitcoin wallet. This
method works only if your customers have a b-wallet of their
own, or at least ready to create and maintain one.
Last, we will discuss mining in the next section.

4. About Mining
Miners are people who maintain blockchains. Their job is to
ensure that the transaction is secure and processed
properly and safely. In return for their services, miners are
paid fees by the vendors/merchants of each transaction (as
fees).
Mining operations are very resource intensive, and initially,
the only way to be a miner was to buy expensive computing
hardware, host it in your own place, and pay the expensive
maintenance and electricity fees.
Then people came up with the concept of pool mining,
where low cost hardware could be used by individuals, and
as a grouped pool, they could perform complex operations,
get paid for transactions, which is then distributed among
the group. Pooled mining is now the most popular option.
However, there is still one problem, an individual has to
maintain the hardware, and pay for electricity+cooling fees.
So the next evolution was to move mining into the cloud.
So then came a hoard of cloud hosting providers that
allowed you to buy cloud based mining hardware, and earn
bitcoins for their own b-wallet, in turn, charge a nominal fee
for maintenance. This system has worked wonders, as more
and more cloud based providers are giving economical
solutions to simple individuals like us.
You can also earn money by simply owning a cloud miner,
its the safest no-brainer way.

5. Genisis Mining, is one such miner provider that has
established a wonderful reputation of having millions of
individual miners under their hood. Cloud miners range
from $23 to thousands ofdollars depending on their
power and ability to churn bitcoins.
Become Miners
Here is how you can also become a miner for as low as $23.
Click on the link “GET A CLOUD MINER” above, and purchase
a miner as per your choice. Use the code as coupon
and get a nice discount on the price. Wait for miner activation
and watch money pouring in on a daily basis. A miner of
0.25 TH power can churn you a few satoshis per day (1
satoshi = 0.00000001 BTC, that is, a hundredth of a millionth
BTC).
That sounds very less, but just imagine that your initial
investment is only ~$23, and with time, price of bitcoin
increasing, you are investing in a huge profit for every bit
earned. Now Add this up for multiple miners, you get it!
The price of bitcoin is stabilized now, and is only expected
to go up steady. Thanks to idiots who gave it a bad name
sometime back, now people are careful not to trade on it to
form another spike.
Get a Cloud Miner
The beauty of Bitcoin is that there is no central authority. It
is literally a network of users - who simply decide to buy
and sell goods and services through a mode of virtual
currency. It will be difficult for governments to 'shut down'
Bitcoin. In fact, with internet e-commerce expanding like
ever, virtual currencies are definitely the wave of the
future. Better to invest on this now, than later.

6. Joey is an internet enthusiast, marketer, and entrepreneur. He holds a degree in
Computer Sc. & Engineering, and has been an IT Analyst for 10+ years in reputed
IT establishments.
He owns a web 2.0 company, maintains numerous niche websites, and is an
avid stock market analyst. He is obsessed with internet and online business
opportunities. Alongside his digital life, he is a spiritual preacher and likes to
paint his imaginations on canvas.
AboutJoey
Legal Stuff
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