BTC halving and mining industry restructing bring new opportunities for new entrants

#1. Is the Bitcoin actually manipulated?

Bitcoin is a decentralized global market, the institutions or large funds can affect the short-term trend for at most a month, no one is able to affect BTC’s long-term trend.

The Rise and Fall of the Dollar

#2. From two mining machines to hundreds of thousands of machines, can your road to success be replicated?

For most people, the biggest problem with buying Bitcoin is that they have little money to invest. In fact, the capital is not a problem. At the end of 2013, I bought 2 Graphics Card miners with 30,000 RMB ($4300), and I did not invest any more funds afterwards. In the most ideal case, if your investment doubles every 200 days, these two miners could become thousands until now, instead of 200,000 machines.

#3. How much money do I need to get started the mining?

Mining requires a relatively large amount of capital. If you want to directly intervene in mining, you must buy at least 1000 ~ 2000 mining machines in order to have the scale advantage of operation. Based on the current situation, one less expensive machine will cost you 5000 RMB to 10,000 RMB, therefore you need at least 10 million RMB before jumping in this business. This has not taken into account other investments such as mining farm construction, for example, building a 50,000 Kw mining farm requires another 20 million investment.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store