RE: There's a Bitcoin GOLD RUSH Going on - How to PROFIT Big from BITCOIN
First off, excellent post.
My first real exposure to crypto was when I joined SteemIt in October 2016.
Since then, I caught on quickly and have made quite a bit of money with Bitcoin and Litecoin.
I thought about mining, but reconsidered when I learned that Bitcoin is not infinite, meaning that there is a limited amount and once it's all mined, that's it. So, miners will still be able to make money from transaction fees, but there are a lot of questions about whether or not just having income from fees will be able to cover the cost of running a rig. If anything, renting would be better once all of the Bitcoin has been mined.
Personally, I find that it's much more lucrative (and more fun) to trade different cryptos. I think now is a fantastic time to be buying lots of crypto. I especially like Litecoin and Steem right now.
I really enjoyed your article. Thanks for the great info!
What you missed is that bitcoin transaction fees have skyrocketed. And who do you think gets those fees? MINERS.
Actually, I didn't miss that at all. I even mentioned the fact that miners get fees in my comment. I know fees are high right now. What I am saying is that after all Bitcoin has been mined, miners will have to rely on fees for income. If transaction fees drop, it will be a question of whether or not the fees that miners bring in will be able to support the cost of their rigs and provide a decent profit.
I didnt't say mining wouldn't be viable. I just think it remains to be seen. We won't really know until it happens.