First up I should specify this article on Bitcoin Miner is in regards to an app I downloaded. Not the actual process of mining bit coins through a computer processing transactions yourself. I believe this can be quite lucrative but I lack the technical skills or budget to get something like this going at the present time.
BITCOIN MINER APP
Bitcoin Miner App is an online gaming thing that supposedly gives you an income stream paid out in crypto currency. I guess you would call this a “Bitcoin Miner” (It’s also the name of the app). I should say in this regard, I’m still new to this so I don’t know whats really going on here. After downloading the app I started playing away on my phone. Without really knowing what I was doing I was collecting micro fragments of a currency called “Satoshi’s”. SATOSHI’s are a small fragment of the digital currency Bitcoin. It took me a couple of days to earn 100 of these Satoshi’s. I tried to assess the value of these things and turns out 100 satoshi’s are worth around 2 cents in American currency. Thats around 3 cents in Australian currency.
I also seem to be earning fragments of other coins. If I can collect the sets to make more coins this could possibly amount to something reasonable over time as well. The other coins look to be of even less value than the Satoshi’s though. Over all I found the branding of the app as “Bitcoin Miner” rather misleading. This is one of my gripes with the internet in general as 90% of the money making ideas seem to be Horse-shit. Sifting through horse-shit can be painful and time consuming.
Bitcoin miner also bombards you with advertising videos to power up and level up. I’ve watched a fair few of these as well. Let’s say it can get annoying. The value of the crypto I’ve “Mined” (i’ll say that Im not 100% convinced this revenue is coming from “Mining”) is well under the assumed value of the advertising revenue the platform is making from us playing these games. I have a feeling Bitcoin Miner is taking advertising revenue in from other companies and re-distributing a portion of that as “Mining Proceeds”.
INCOME POTENTIAL
Satoshi’s would appear to be rather undervalued. they’ve lost around 94% of their value over the course of the last year, so If this does bounce back this could amount to something. Look up the 1 year graph on Coin Market Cap to see for yourself.
Over all the game is reasonably fun, and serves as a great de-stresser when things get hectic at work. More importantly it actually DOES payout. Instantly too! If you’re relying on this to bring in money to live, I’d say look elsewhere. At this point I can’t see this being anything more than a bit of fun. I’ll keep playing this for a while longer to see what happens as I am getting some level of enjoyment out of this as well. If you’re looking to make money of crypto’s Id say focus on a strategy of buy and sell according to the market fluctuations or focus on actual crypto mining not this. You’ll make far more money with much less effort. I SHOULD ALSO STRESS THIS IS IN REGARDS TO THIS APP ONLY, THERE ARE OTHER APPS OUT THERE WHICH I HAVEN’T TRIED WHICH COULD BE FAR MORE PROFITABLE (OR LESS SO)
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