Rise of Bitcoin Factories

Article: The Rise of Bitcoin Factories: Mining for the Masses - Wall Street Journal

NOTE: The above article may only be available to non-subscribers for a limited time.

Bcause is a company that houses mining rigs for clients. But, they also want to offer cloud mining by charging $4,800 for one year of using one Antminer S9. I consider that to be unusable.

The objective of mining companies like Bcause is to make money off of your wanting to make money. It is unlikely that you will make your money back. Bitcoin difficulty continues to go up, and by time your S9 comes online, it is unlikely that you will be profitable. If you want Bitcoin at this point, you need to simply buy it.

It's really just too late to get into Bitcoin mining. Mining of other coins could possibly be profitable, but not Bitcoin. I bought one Bitcoin rig in October and received it in December. With that one, I will be working to break even on it. I might make a 100% profit on it over time, at the most. But, that's it. Bitcoin would have to go up quite a bit for it to be truly profitable.

I got into mining because I enjoy the technology, and I enjoyed the challenge of setting up my two Antminers, setting up the networking, setting up the electrical. But, I know that profitability, such as it is, is nothing to count on.

My 5 TH/s Bitcoin cloud mining at Genesis went online October 31 of last year. But, Genesis takes a 30% cut of what you make. And, while I will make my money back, that much of a hit to what I make should tell anyone that Bitcoin mining at Genesis, at this point, should be absolutely avoided.

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First Major Crypto Index

Press Release: VanEck's MVIS® is the First Major Index Provider to Offer Digital Asset (Crypto) Indices - VanEck

Index List: Digital Assets Indices - VanEck

Bitcoin and crypto investors and enthusiasts have been hoping for involvement by established financial institutions.

Now, a major provider of financial indices has established a set of crypto indices. VanEck has been wanting to start an ETF, an Exchange Traded Fund, for cypto. They have put that on hold, citing resistance by regulatory bodies. But, in the meantime, they have partnered with CryptoCompare.com to establish crypto indices ranging from ones dedicated to one cryptocurrency to those composed of a variety of currencies.

Click above for the Press Release, and for the full list of indices.

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Scamcoins You Need to Avoid!

Article: A Closer Look at How Three of the Biggest Scamcoins Lure Its Investors - Bitcoin.com

Scams go hand in hand with crypto. Everyone needs to be very careful in the crypto space. Do your due diligence, then do it again! Only invest or mine established currencies. And, if you're mining, know that if you're mining new currencies, they could be vaporware and go adios, or tank, quickly. Remember, your Private Key is just that: PRIVATE! Do. Not. Ever. Share or post. Anywhere. Ever!

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My First Mining Is Online!

Start Mining Now: Genesis Mining - Click for 3% Discount!

After waiting for a bit, my Bitcoin Mining is online! Today is my first day of BTC Mining, with 5 TH/s mining power through Genesis Mining.

Genesis is a cloud-mining service that lets you buy hashpower with crypto or even a credit card. I bought my Bitcoin Mining through a pre-order and it has now started. You can currently buy Zcash, Ether or Monero 2-year contracts and mining will start immediately.

My Bitcoin Mining contract is open ended. So, I will get continual hashpower unless Genesis finds Bitcoin mining to be unprofitable. Then, things could change. But, Bitcoin is the most resilient cryptocurrency, so prospects look good!

I will report back to tell you what the returns on my Bitcoin mining are.

Last week, I used a 3% off coupon and purchased 100 H/s of Zcash Mining. That instantly started producing returns:



>> Click Here for a 3% Discount at Genesis Mining <<

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Bitcoin Gold Created in Fork

Notice: Bitcoin Gold Initiates Hard Fork Split to Create New Cryptocurrency - CoinDesk

Bitcoin Gold has just been created in the new fork.

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Coinbase Addresses Bitcoin Gold

Notice: Bitcoin Gold FAQ - Coinbase

Many people have been wondering what Coinbase's stance is on Bitcoin Gold. Read the notice about and you'll find out!

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MyEtherWallet Hacked

Article: A Look at Five Different Cryptocurrency Hardware Wallets and Prices - Bitcoin.com

I have permanently given up on Software Wallets. This week, MyEtherWallet was hacked. 1 ETH and 3000 KICK Tokens were stolen from my by this address: 0xF7860ea76a36Ee83abB7F88d3C773f0440e178be. You can read the comments on Etherscan to see that I am not the only one: Etherscan Info.

I didn't want to use MyEtherWallet, and now I know why. It is clearly hackable, and I would advise everyone to avoid it. Especially since you are having to input your Private Key for access. Private Keys are secured in other online wallets. And, in Hardware Wallets, they are locked up on the device.

But, unfortunately for me, I followed the advice of KICK ICO and put money in MyEtherWallet, and had the tokens I bought there. Now, they're all gone. I have written MyEtherWallet for help, but don't know if they will help me.

ICO's are notorious for being riddled with schemes and rip-offs. I have now learned a hard lesson to never even think of doing one unless I have a Hardware Wallet in place. Furthermore, I am close to starting mining. And, I guess that it is best to know that I need to make sure that any coins mined are taken offline as soon as possible, and secured on a Hardware Wallet.

I will update with anything I hear back from MEW. I tried KICK ICO. But, I guess that I shouldn't be surprised that they offered no help, only replying to me in broken English. ICO's are a clear minefield. I would avoid them. But, if you absolutely want to participate, do so in only small quantities that you can afford to lose. Because, as in my case, you might very well lose all of it.

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Baikal Starts Miner Pre-Sale

Article: Baikal Giant X10 - Baikal Mining

Baikal Mining has started a Pre-Sale on its Giant X10 Miner. The Cryptocurrency Miner mines coins using the X11, Quark and Qubit algorithms.

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Russia Proposes Own Coin

Article: Putin Orders the Issue of Russia’s National Cryptocurrency – the Cryptoruble - Bitcoin.com

Russia has been back and forth on cryptocurrencies lately. But, the latest indications are for Russia to create its own coin, the Cryptoruble.

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Best Altcoins for 2017

Article: Five Most Promising Altcoins of 2017 - Coin Telegraph

The article is from June, but it's a good one! And, I wanted to share it with you.

Coin Telegraph lists the altcoins they believe to be the most promising for this year. Good reading!

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MillerMine is Live!

Hello! This is my new blog and site, dedicated to Crypto Mining. I will document my work in mining a number of currencies, including Bitcoin and Litecoin. I am considering others, such as DASH and other altcoins.

I am already signed up for 5 TH/s of Bitcoin mining at Genesis Mining. It will start around October 31. I am shopping for ASIC Miners, and hope to have my first (or more!) by December 31.

I will also document all the different aspects of my mining projects, including hardware costs, electricity costs, pool costs, etc.

This is also the place where I will post links to news, articles and tips for how to make your mining as profitable as possible.

Thank you for viewing my new site! I hope that you find it useful!

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