How to earn
1 Bitcoin A Month
How Much I Made Mining Bitcoin For 30 Days
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for the last 30 days and 30 nights i
have been mining bitcoin for 24 hours
per day
seven days per week and in this video i
am going to be telling you guys
exactly how much money i made doing this
and by the way when i say mining bitcoin
i don't mean digging for it
in my backyard or owning some sort of
super mine with thousands of super
computers worth millions of dollars
because as you guys can probably tell
i'm pretty young and i don't have that
kind of money
for the last 30 days all i've had to
mine bitcoin was this regular old pc
behind me
introducing a five-year-old 400 desktop
computer my dad bought me for christmas
when i was 13 years old
this computer isn't really anything
special but using this application
by the name of honeyminer i have been
able to mine bitcoin
every single day for the past month in
the first seven days of mining bitcoin
on my pc i documented literally every
single step of the process
on my youtube channel in a video titled
i mine bitcoin on my computer for one
week
in this video i show what it is
realistically like to mine bitcoin with
nothing but a regular computer
and after seven days of mining i
concluded that it's not really worth it
because although bitcoin mining is
literally 100
passive income you're still going to
have to dedicate an entire computer in
your house to mining
for very little bitcoin in return long
story short in the first week of mining
bitcoin with nothing but my computer i
mined a grand total of 0.00012401
bitcoin
or 2.22 worth which is actually now
worth 2.24 cents
thanks to the coin appreciating in value
as soon as that first video released on
my youtube channel it started absolutely
blowing up all the way to 50 000 views
and with that came a lot of criticism
now the first point that people made
abundantly clear in the comment section
of my last video was that i likely spent
way more money on electricity than i
actually earned mining bitcoin
i actually did some research on this
recently and found out that you guys are
100
correct the average electricity bill in
the united states is 13 cents per
kilowatt and since it takes a desktop
computer about
0.2 kilowatts per hour to run my parents
spent a grand total of 18.72 cents on
electricity
over one week just for me to mine two
dollars and 24 cents worth of bitcoin
after crunching those numbers i honestly
feel really bad for doing this to my
parents so let's go out into the living
room surprise them with 20
and hopefully that makes up for the
electrical costs for the first week of
this challenge
did this video where i mined bitcoin for
a week and it kind of put a strain on
the electricity bill
so uh here's 20 to make up for the costs
i think it's going to be like 16 extra
for the week on the electricity bill so
the extra 4 is just kind of a tip
oh i know it it's that's 20 right right
you said it called 16.
yeah so the extra four is a tip but i
kind of mined bitcoin for 30 days
so hopefully that covers it i don't
think it will but then i'll just be back
for you when i get the bill
sounds good my only counterpoint to all
of the comments on my last video
talking about the electricity costs of
mining bitcoin is that they are not
taking into account the massive
potential
for bitcoin to appreciate in the coming
years now i'm not saying that these
things are 100
true but i've recently been seeing so
many articles talking about the massive
rise in demand for cryptocurrency
and how bitcoin could potentially reach
over 100 000
per coin by the end of 2021 alone
i also saw a crazy article where the
goldman sachs hedge fund chief
said that bitcoin could potentially
reach over one million dollars per coin
in the next five years alone now in my
personal opinion i don't think bitcoin
will reach that high in just the next
five years alone or else i would be
dumping my life savings into it but
let's just say by some crazy sequence of
events
bitcoin reaches 250 000 per coin
in this case our one two four 0.0001241
bitcoin
that we mined in just one week will be
worth about thirty one dollars in five
years
which is greater than the eighteen
dollars and seventy two cents
my parents spent on electricity costs as
i said earlier this argument is only so
effective because who knows where the
prices of bitcoin and other
cryptocurrencies will be
just five years from now the future of
these cryptocurrencies is largely
unknown
but i will say that i think it's smart
to hold at least a little bit of bitcoin
in your portfolio
in case its price rises heavily in the
upcoming future
you can do this either by mining bitcoin
through an application like honeyminer
or buying it through a place like
coinbase i will have affiliate links
linked down below for both coinbase and
honeyminer
with coinbase for using my link i think
you get like ten dollars worth of free
bitcoin once you invest a hundred
dollars
and also with honeyminer i think you get
like 25 cents worth of free bitcoin
but hey free money is free money now
that i have addressed the most common
complaint on my last video about bitcoin
mining it is time to reveal
how much money i earned mining bitcoin
for 30 days
but first can i get a drum roll please
as you guys can see over the last 30
days we have earned a grand total of
0.000 four
eight six eight one bitcoin or nine
dollars and sixteen cents
although on paper it may seem like we
earned a little bit over
nine dollars mining bitcoin there were
still some major expenses
associated with it as i mentioned
earlier to run a desktop computer that
takes up 0.2 kilowatts of electricity
per hour it'll cost you about 2.67 cents
per day
if you leave the desktop running for 24
hours straight
since for this challenge we left our
desktop on for 30 days straight
24 hours per day it cost the parents an
extra 80
and 10 cents on their electricity bill
i'm honestly really hoping my math
is off and the twenty dollars we gave
them earlier makes up for it
but guys if not i'm gonna have to
reimburse them for all that because uh
that's my bad if my math is correct just
for me to break even on the electricity
costs it took to mine
zero zero zero four eight six eight one
bitcoin
it would have to appreciate by nearly
one thousand percent
all the way up to two hundred thousand
dollars per coin that is obviously very
unlikely to happen
over the next couple of years but as
justin bieber once said
never say never after crunching all of
these numbers i am most definitely going
to stop mining bitcoin on my pc to
prevent my parents from filing for
bankruptcy but guys with that being said
if you guys enjoyed this mini video
series and want to see me continue
mining bitcoin
please be sure to smash 2 000 likes on
this video
because if we are able to do that i will
invest in a full-on bitcoin mining setup
from ebay that costs about 1 000
the last video we made on bitcoin mining
earned about five hundred dollars
and if this one earns that also that
would be awesome because we will have
enough money to invest in something like
that
