I have been searching for ways to make money while still having some freedom and independence in the world. I want to be able to try things without feeling like I don’t have the time or the resources to dedicate to projects I consider more important. I want to get closer to God, be able to learn languages, and not depend on the vicissitudes of my ability to simply exist. I also want to be able to help my loved ones rather than be a burden to them. So far my job applications haven’t really worked.
But serendipity seems to have struck, since I have a little extra money that seems to be coming my way as a result of being charged for unauthorized purchases, and I may have found a way to invest the money. I have found a Bitcoin miner that seems to fit my price and also allow me to live.
You may be unsure about what Bitcoin mining is, so let me break it down as I understand it.
First, what is Bitcoin? It is a currency, just like the dollar, only without a single institution able to make policy to disrupt the value. There is no central bank, no board of governors, and all transactions must be subject to absolute confirmation by all machines that operate the monetary infrastructure. So it’s not like anyone can simply print money out of thin air like the Federal Reserve does.
What is a Bitcoin miner? A miner is a piece of equipment, a machine, that uses computing power to look at all the accounting ledgers in the network of ledger nodes in order to verify that a transaction is eligible for execution. If it is eligible, then a machine has said that it’s looked at all the accounting information, and nothing contradicts the information involved in the transaction. I want to buy one of these verification machines, a miner.
But why would I want to buy one? In order to encourage the stability and efficiency of the system, the protocol of Bitcoin implements a reward system for adding computational power to it. When you verify a transaction, the protocol rewards you with a fraction of the transaction value, allowing you to function as a tiny middleman facilitating the transaction. You allow someone to pay someone else and get a small fraction of what was paid.
For the amount that is due to me, I discovered that this machine is affordable: the Antminer DR5, which costs $1000-$1500. The industry websites say that you can earn $40-$50 per day with it, meaning that it would more than equate to the Universal Basic Income, or UBI, proposed by Andrew Yang.
Even if it doesn’t live up to its reputation, I will surely recoup my money, and it may allow me to keep growing if I find out that I want to invest in more equipment. The only thing I would have to worry about is tax liability, but I will worry about that when it comes. It seems like a good value proposition, and I will be ensuring that I will have what I need. You may want to check it out too.
If you want to support my work and journey, you can go to: https://www.buymeacoffee.com/tberg
I appreciate every comment and all your support.