When bitcoin was first introduced, no one knew this digital currency was going to actually catch on or become so valuable within the space of a couple of years. All it took was one person with a software development masters degree and a daring attitude to change the way that people invested online, saved, and exchanged currency. With the price of a single bitcoin now worth several thousand dollars, those who have faithfully been mining are looking at a small fortune. Even if you got into the game late, if you are still mining for bitcoins you should be looking at your scripts, programs, and algorithms to ensure that you are getting a return on investment for your time.
Most People Aren’t Mining For Their Bitcoins
If you know how to write code or have an online MSSD degree, you are in the minority of those who regularly trade for bitcoin. The vast majority of investors are looking to buy their way into the bitcoin industry by exchanging cash for bitcoin at the lowest rates. You have an advantage of being able to leverage your knowledge for bitcoin, meaning that you don’t need to do much apart fromwrite code and setup an online bitcoin wallet account. When bitcoin rates increase, you are simply earning more on the bitcoins that you have already mined.
Brick and Mortar Retailers Are Now Accepting Bitcoin
It was possible to take bitcoin and barter for different services online, right from the beginning. In fact, for many online investors, it is a preferred form of currency simply because it has not depreciated significantly in a long time. On the other hand, actually cashing in your bitcoins means that you have to find a trustworthy exchange website and fill out detailed financial reports so that the government knows where your money is coming from.
Now, bitcoin miners have the ability to trade bitcoin for clothes, laundry servicing, books and even cab rides in the real world. If you have tweaked your scripts correctly you can make back what you spend on services in real life.
Bitcoin Is Super Popular
There are tons of people who are looking to make their first dollar by investing in bitcoin. It is a stable and versatile currency that is guaranteed to gain interest no matter what you do. If you are confident in your coding ability, you can always find ways to make money by helping others mine for their first bitcoin while also working on building your own reserves. There are still many people who don’t quite understand how it all works, but that isn’t stopping them from getting started and becoming active bitcoin miners and traders.
Those who mined for bitcoins five or so years ago should be able to buy a home, start businesses, or quit their jobs and go on a tour of the world with the money they have made. On the other hand, there’s no sign that the value of bitcoin is going to stop growing so mining is actually one of the best uses of an online masters in software development.