Mining Bitcoin with the Antminer S9

Hi there, great to see you again.

I'd like to share a little more about my experience on mining bitcoin. After trying out mining litecoin, I decided to combine recourses with a cousin of mine. We got a Bitmain Antminer S9 13.5TH/s which runs SHA-256. It was a hefty sum at that point, $4800USD then. Here's what it setup looks like:

Setting this up and running it for the first time was truly an experience. Never did I expect the fans to run at such speed with that kind of sound volume. It's like as though there were a dozen hairdryers running at full speed in my home! And it's definitely not something you want to be in the same room with when you sleep. I did try a couple of methods to reduce the noise, but eventually had to keep it off when i was home, otherwise the sound would drive me nuts.

But then again, after all, it is an industrial miner, so it's fine if you have a room, store or dedicated place away from your living space if you'd ask me. I personally just run it when we're out of the house, which is approximately a combined 48 to 72 hours a week.

Since having started this machine up, I have experimented on a couple of different pools and coins with the SHA-256 Algorithm. In my opinion, for our geographical location, i find it best to use antpool.

Will keep updating as we go along. Let me know your comments or thoughts. See you soon. Cheers!

Mining Litecoin / Bitcoin Cryptocurrency with an ASICs Miner

Hi There, nice to be back. I'd like to share more on my cryptocurrency journey with mining.

Previously I mentioned that I started with cloud mining contracts from Hashflare.io. After that I started to try out getting an ASIC(Application Specific Integrated Circuit) miner for mining litecoin, these are chips specifically designed for a single purpose, namely mining different types of cryptocurrency, and in this case namely litecoin(which uses Scrypt Algorithm). It was a small investment of about $150sgd for a used Gridseed Chip GC3355 Blade Miner running a hashrate of about 5.2Mh/s. Here's what the equipment looks like:

   

It was a good learning experience figuring out how to setup and run this unit. For those wondering about how ASICs work, in a nutshell, there are many algorithms and each cryptocurrency coin blockchain uses a particular algorithm which they are based on, so these mining chips can only perform calculations for the algorithm they are made, and needless to say, each algorithm has it's own advantages. Some of the algorithms are scrypt, sha-256, X11, cryptonight, Ethash, Equihash, and the list goes on. I'll probably share more on my setup and create another post and possibly include a video to share more details at a later time.

If you're curious, I bought it from Aliexpress. Here's the link if you'd like to find out more: https://www.aliexpress.com. Personally I found that this was a good platform for me to experiment with a low cost equipment and get my fundamentals right before moving on the bigger guns. In my next post I'll write more on the ASICs miner. Thanks for reading, I hope my journey can help you decide on how you embark on yours. Do let me know if you have any thoughts that you'd like to share. See you again.

What is Cryptocurrency? And can it bring financial freedom?

Hi There. Great to see you again.

Today I'd like to share a little more on my bitcoin journey. As I took the steps to learn more about cryptocurrency, I think the questions that needed answering was "What is Cryptocurrency and  Bitcoin?", "Is this real?", Can this really bring financial freedom?" and "Can I use this or cash this out?" Thus i began my endeavor.

A number of people has asked me what Cryptocurrency, Bitcoin, Litecoin, Ethereum...  is all about, so I've always tried to put it into simple terms so that a lay person can understand it. Basically, cryptocurrency is a digital currency, secure, transparent and a trustless system(You don't have to trust a bank, visa or master card to perform the transaction for you). It is not governed by any country, is driven by supply and demand, and it's value depends on the price at which it is currently traded. It operates 24/7, 365 days a year. Transactions that take place are stored in what we call a blockchain, and anyone can download or view this information. There are well over 1500 cryptocurrencies at this point of time, and Bitcoin is the first decentralized cryptocurrency which started in 2009.

Cryptocurrency is real, and in my opinion, there are a few things that could happen, there will be a few standing established cryptocurrencies at the end of the day, it could become a world currency in time to come, or all of it just crashes and burns.

Can Bitcoin bring financial freedom? I think it's possible, but it takes time and some planning. I wouldn't encourage you to place all your eggs into 1 basket though, but would rather recommend diversifying into other avenues like stocks, property, online business... I'll share more on these at a later stage.

The big question I had on my mind was whether I could cash this out. And from what i found out, the short answer is yes. The only thing about this is that the verification process is really long(more than 1 month), which is actually quite ridiculous if you ask me, but ok I guess if you're in it for the long term. One of the trusted platforms that I use is Coinbase(You can get some free Bitcoin on your 1st purchase). This platform enables you to buy, sell and transfer Bitcoin(btc), Bitcoin Cash(bch), Ethereum(eth) & Litecoin(ltc).

If you find my information useful, and like to embark on Cloud Mining. you can use my affiliate link to Bitcoin Mining at hashflare.io.

Do share with me know your thoughts or ideas. I'll write more in the coming days. Thanks for reading and see you again.

Mining Cryptocurrency

Hi, Nice to see you again.

Today i'd like to share with you how my crypto journey with bitcoin began. This all started about 5 months ago. As some of you may or may not know, this was the peak of bitcoin, hitting over USD19,000, which piqued interest of many around the world and needless to say, mine as well.

First of all, i needed to know what this bitcoin cryptocurrency coin was all about, but let me save the details for a different post. I started my 2 week long research into this digital currency, looking at the different ways of embarking on this journey. There were many ways which I discovered, some of which were investing in the coin directly, mining and trading. I eventually decided on mining bitcoin. And i settled on contract mining for a start. It was a straight froward decision for me, although with slightly lower profits, there were no overheads, equipment maintenance and other headaches.

I was ready to possibly lose a portion of what i was investing, as the possible gains would outweigh the possible losses. So I decided to research and test a couple of platforms, and also took some risks and went against my better judgement to embark one of them(i was tempted by the good returns, but since then this site has been shutdown), so the important note:"if it's too good to be true, it probably is too good to be true.". I eventually found a platform that wasn't a scam that gives a daily stream of bitcoin, and where people on the platform have had no issues withdrawing bitcoin to their digital goods wallets. Here's the link that i'd like to share with you for Bitcoin Mining at hashflare.io.

What I did for Bitcoin Mining at hashflare.io was to first try out with a small amount. I started with USD150(The amount that i was ready to lose). I would recommend a small amount at your comfort level for anyone starting. Once i was comfortable and after investing about USD12,000, today, here's a snapshot of my earnings for the coming year, this is after 5 months of withdrawing my earnings of about 0.4btc(Currently valued at about USD4,000).

So what I'm doing is waiting for the right time to sell(Hopefully USD30,000 to 1btc), if I sell it at USD10,000, that would bring in total of USD14,000, which yields a USD2,000 profit(about 17%), but if I sell at USD30,000(btc price), then it'll be a 250% profit. So I'm in for a longer game. I'll share my strategies and what i recommend in another post as well as i don't have much time for now.

Please feel free to share your ideas or thoughts with me along the way. Have a great day and see you again soon.

My Bitcoin Cryptocurrency Journey

Hi, this is Jonathan and I'm from Singapore. It's great to connect with you here!

On this blog, I'm going to share my journey of cryptocurrency, which started with Bitcoin and Litecoin. Although I'm still kind of new to all this(Crypto and Blogging), but I have also been quite adventurous as well, trying out different platforms and sites and even mining.

For those of you who are new to crypto currencies, I hope my experiences will help you to possibly learn from and avoid some of the mistakes that I have made, and possibly make some money along the way.

Just a little bit on myself, I have a wonderful family with a wife and 4 kids, I have been in the IT Industry since the year 2000, and have explored the health and solar industry in the last 7 years. My passions lie in the Family, Hands on DIY Projects, Cryptocurrency and Health.

I hope to be able to share with you more of my experiences as we go along and hear your thoughts and gladly welcome your feedback, that i may learn something from you too. And feel free to post if you have any questions. Thanks.

See you again.