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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