Starting out with Bitcoin Mining
I have been mining Bitcoin since November 2015 and in that time I have mined over 6 BTC of which over half I have withdrawn and shared with members of my pool and spent myself. The rest was reinvested to get additional mining pools.
Bitcoin Mining Pools
There are 3 mining pools and a Founder Pool. When I started I got a Mining Pool 1 and then invested in the Founder Pool. The pools are mining for 1000 days. This image is just for information because people can buy shares in my pool for 50 euros.
This meant I had the following pools when I started 2 years ago:
- 2 x Pool 1
- 1 x Pool 2
- 1 x Pool 3
With the reinvests that has been done I now have:
- 4.5516 x Pool 1
- 1.7281 x Pool 2
- 1.7828 x Pool 3
Each new pool investment mines for an additional 1000 days so almost continuous mining.
My Minining Syndicate
Since I started I have given family members, friends and others shares in my pool and then mined for them. They don't need to do anything as I handle everything for them. I keep the bitcoins in my mining wallet and when people want a payout they send me an e.mail and I send them the balance of the bitcoin they have earned. Everyone gets a web page where they can see what they have mined.
Pool Payouts
Payouts are only done with bitcoins and not the local currency amounts so when it comes time to request a payout you will need to have a Bitcoin Wallet. The payouts will be able to be requested on the persons web page. The payouts might take up to 48 hours so people must be patient. There is no minimum payout limit yet but this might be added later depending on the volume.
Joining the Minining Syndicate
I sell shares in my pools for 50 euros and people can have as many shares as they like.
If you would like to join me with mining contact me on Facebook Messenger or Telegram
Where is mining done & why share pool with others
The BitClub Mining Network is operated from a datacenter in Iceland that utilises state of the art cooling and powered by renewable energy sources like GeoThermal.
People ask me why I am inviting others to join my mining syndicate when it has been running for 2 years and I could just keep the bitcoin that I mine. The answer is twofold 1) I was lucky to get into Bitcoin when I did when price was $450/coin so I want to help others benefit from bitcoin mining 2) I want to expand my mining pools, I want to double it's size in next 12 months, so the money I get from new members joining I will buy additional partial and full mining pools.
The additional mining pools mean I can mine even more Bitcoins that I share with my members.
Additional Resources
- BitClub Network - No need to signup but you can if you want to
- Bitcoin & BitClub Network - Video
- Earn Bitcoin Daily with BitClub Network- Iceland Data Center Sneek-Peek - Video
- Blockchain.info Pools - BitClub Network has 2.7% of total mining capacity
- Coinbase Exchange - Get yourself a Coinbase Bitcoin Wallet (There is also a mobile app for Android & iOS)
- Ledger Nano S - You can also store your Bitcoins in a secure hardware wallet
Advertisement:
Come and mine Bitcoin with me daily - Part 2
https://steemit.com/bitcoin/@sydesjokes/come-and-mine-bitcoin-with-me-daily-part-2
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A great way to mine bitcoin @sydesjokes not to be missed, mining is where you grow. This looks to be a great offer.
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get your mining on ico sup
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nice post and thanks for sharing. follow me back
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Hi, will check your page for info. Just starting to learn about bitcoin. Thank you for this article.
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Bitcoin hit up to $5800 and settling around $5600. It definitely is helping people who mine it.
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I don't know much about how mining works but I have read some and thought about getting into it in the past. I decided that my current skill level was too low and I would have to do a lot of studying plus invest a lot of money up front in order to get into it. But this sounds like an easier way to get involved.
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I just bought mining pools and that was it didn't need any technical skills. Now I offer people shares in my pool and they don't need to anything and they share my mined bitcoins.
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wow so nicee post great working on steemit keep up _and we are your follower get back and give you 100% upvote plz back _thanks
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@reported has voted on behalf of @minnowpond. If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.
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If I had the money I'd join, unfortunately things are a bit tight at the moment, but I'll keep this one in mind.
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Well my shares are less than the actual price of the pools because people are buying shares in my pools.
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Okay, so I can purchase a share like $50 or $100? That's interesting, but at the moment even that's out of reach for me. But it might be a viable option in a few weeks, things are changing like crazy at the moment.
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It's 50 euro so approx $56. Give me a shout when things calm down.
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nice post
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Excellent cheers
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Is mining Bitcoin still profitable ? I believe Ethereum is a better alternative for mining. Kindly share if anyone else is mining some other coins.
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Yes I am still mining bitcoin daily and even better as price is over $5100 today.
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Just hit $5,400 on Coinbase as I write this. Bitcoin to the Moon and back! Please check out @steemthat and @steemthatshare the bots that Steemit.
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nice post ..thank you for shahring
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Thank you for detailed article ! Great !
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Thanks for the Task on Kryptonia.io. You too can earn Superior Coins by performing Tasks on Kryptonia.io just go there and sign up to start earning today. If you want to make more on @steemit check out the bot that's not just your average bot it is @steemthat and @steemthatshare.
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