▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
In this video I take you through my experience mining bitcoin (BTC) using a cloud mining service (I used Genesis Mining), which I think is still probably the easiest setup for mining bitcoin. However, we also go over another very easy solution, the coinmine one plug and play miner. I also go through a high level analysis of why I don’t think any of these “easy” bitcoin mining solutions are worth it and I talk about what it takes to profitably mine bitcoin in 2021 including one case study of a successful mining operation based here in the USA.
My hope with this video is that by explaining what bitcoin cloud mining is and giving you a mental model of what successful and unsuccessful miners look like, I can help you not make the same goofy mistakes that I (the certified miner boy) made when it came to bitcoin mining when I got started in bitcoin and cryptocurrency back in 2017.
📖 My favorite book for people new to Bitcoin: Bitcoin Hard Money You Can’t F*ck With:
⛏ What is Bitcoin Mining?:
♊️ Sign Up for Gemini (the only exchange I use to buy Bitcoin) and get $10 of BTC when you Trade $100:
⚡️ Checkout Strike the best way to buy Bitcoin on iOS/Android! Verify your Account and Earn $5:
🎙 Learn More About Bitcoin (and fiat) Mining in this podcast between Jason Williams and Preston Pysh:
🚗 Jason’s Mining Company Overview Article:
Intro 0:00
Cloud Mining: Genesis Mining 0:30
Plug and Play: Coinmine One 2:56
How to Profitably Mine Bitcoin 6:02
How to Think About Mining Options 8:08
▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
Youtube version
