As I walked by a podcast interview at a recent Bitcoin conference, I was made to laugh. “People say Bitcoin mining isn’t profitable. Well, if you mine Bitcoin now, and if the price goes up, doesn’t that mean Bitcoin was profitable?”HT: Economic Policy Journal
The key word there being “if.” That “if” makes the above-stated proposition nothing more than speculation, but leave it to a Bitcoiner to turn speculation on a nascent technology into a workable business model that people – especially young bitcoiners – can depend upon.
The reality in Bitcoin is the general pay for most people is around $10 per hour or less. People starting their own companies complain to me all the time about how they can’t find developers to work on their projects because the developers are too busy working on their “pet projects” – likely doing some in-the-trenches coding for new Bitcoin apps more exciting than the musings of non-developers or hobbyist miners with a bit of cash saved up. Those people working on the “pet projects” spend all of their waking hours working for pennies....MORE
Monday, December 21, 2015
"Warning: If You Choose A Career In Bitcoin You Might Die Poor And Alone"