Agreed on all points. However, mining has become a difficult business, especially in the last 5 years or so. As with any industry, the miners that started early are likely successful and profitable.
The decision to be made is to be a hobby or business, with the clear difference being profit. We always encourage learning and experimentation, but it is unlikely a typical person, starting in 2023, would have a successful business in mining given the level of competition there is, and the longevity of existing mining companies. The typical person, spending a significant up front investment of equipment, learning and electricity is competing with entire mining farms, and some governments (who can print fiat currency to pay electricity bills).
With non kyc bitcoin, the most popular exchange, bisq, is a good idea. However, the most popular methods of exchanging bitcoin, last we checked, are through kyc companies like Revolut and Zelle. The former methods of prepaid gift cards are less and less and less common.
So even if a person wanted to use bisq to acquire non kyc bitcoin, the most popular exchange methods on bisq are kyc services. Please let us know if you agree or disagree, as we encounter this very topic frequently.
#bitcoin
Delta Charlie
npub1aq…vmhkh
2023-09-13 12:04:25
in reply to nevent1q…z2q9
Author Public Key
npub1aqxs793kps5eanmvnse97at6nc975pg6e0c6tjzxq700x0jzdl7qvvmhkhPublished at
2023-09-13 12:04:25Event JSON
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"content": "Agreed on all points. However, mining has become a difficult business, especially in the last 5 years or so. As with any industry, the miners that started early are likely successful and profitable. \n\nThe decision to be made is to be a hobby or business, with the clear difference being profit. We always encourage learning and experimentation, but it is unlikely a typical person, starting in 2023, would have a successful business in mining given the level of competition there is, and the longevity of existing mining companies. The typical person, spending a significant up front investment of equipment, learning and electricity is competing with entire mining farms, and some governments (who can print fiat currency to pay electricity bills).\n\nWith non kyc bitcoin, the most popular exchange, bisq, is a good idea. However, the most popular methods of exchanging bitcoin, last we checked, are through kyc companies like Revolut and Zelle. The former methods of prepaid gift cards are less and less and less common. \n\nSo even if a person wanted to use bisq to acquire non kyc bitcoin, the most popular exchange methods on bisq are kyc services. Please let us know if you agree or disagree, as we encounter this very topic frequently. \n\n#bitcoin",
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