What's up everyone! Welcome to Part 2 of this week's edition of "From Faucet to McLaren"! Before we get started here, I would just like to remind anyone who has not done so yet, check out my first post for this series, to understand what I'm doing, why I'm doing it and to also read my disclaimer for this series. You can check it out here.
https://steemit.com/free/@lincs/from-faucet-to-mclaren-making-it-in-crypto-with-minimum-fiat-investment
Also, check out my "An Introduction to Me" post, to learn a little bit about me and give it an upvote :)
https://steemit.com/bitcoin/@lincs/an-introduction-to-myself
Welcome back everyone to Part 2 of this week's edition. I just want to take a moment and thank you guys for the support so far! I'm doing this that in hopes that maybe some of the things I'm sharing, can help someone out! I always say that I want to help give everyone an equal opportunity to start accumulating Crypto Currency. Crypto is the way the world is heading, and I don't want ANYONE to miss the train!
"Never be the first or the last, to get into something new." I strongly believe in this quote. You never want to be the first person, just in case whatever it is, isn't all that it's cracked up to be. You never want to be the last person. Because then you've missed Everything!
We are in the PERFECT time for Crypto Currency! Crypto has only been around a few years and only just this past year in 2017, we started to see the popularity of Crypto grow astonishingly! We have seen growth of over 1000% and in some cases 2000% in a year for some Crypto. Imagine. You put in $100 a year ago. And now, you're sitting on Thousands.
I'm not just making this up. You can find this information ANYWHERE on the internet.
Well... If you're reading this. You probably were not the first, and did not put $100 into Crypto.
Well let me tell you. You are NOT going to be the last in, if I can help it! Just about Everything that I talk about in this series can possibly be utilized by ANYONE AND EVERYONE, to start entering into the World of Crypto Currency.
I am JUST starting out in Crypto myself. I've been reading news articles daily, watching hours of youtube and networking with various different sources to learn as much as I can about the Crypto World for the past while now.
But, I don't really have a ton of money that I can just throw in. Because even though this is a growing market, don't fool yourself into thinking that nothing bad can happen. THERE IS RISK INVOLVED. So with that, you should only put in money that you can afford to lose.
Well, I don't have ANY money that I can afford to just throw away (That is the frame of mind you should have when putting ANY money into something like this. If you wouldn't walk up to someone and just give them $100 for no reason...Then DON'T go and put $100 into crypto.) Only put in an amount of money that you would be comfortable with just tossing it out the window while driving down the highway. So back to me. I'm not comfortable throwing ANY money out the window. And that brings me to what I am doing here. Starting in the Crypto world, with 0 initial investment, and growing it into something a little more worth my while :)
If you have not yet seen Part 1 of this edition, please go and read it before continuing on with this Part 2.
https://steemit.com/bitcoin/@lincs/from-faucet-to-mclaren-week-1-no-investment-buy-a-mclaren
So continuing on from Yesterday's edition.
I hope those of you who have read the last edition have now become more familiar with your Exodus Wallet, FaucetHub, CoinPot and this morning, you would have seen your first day of 5% growth in your wallet that I hooked you guys up with! (You can check it out here if you still have not claimed your wallet that comes stocked full of Crypto Currency https://steemit.com/bitcoin/@lincs/here-s-a-wallet-with-free-crypto-to-help-get-you-started )
Here is a snapshot of 1 day of groth with that wallet. Also, the market shot too the moon yesterday, and almost all those coins are worth even more than just 5% of growth today.
Reveal spoiler
I am really excited for what this wallet can do for us a little bit further down the road!! If Dogecoin hits $1. We, my friends, just made over $1000. Without breaking a sweat. That doesn't include all the other coins sitting there growing.
Do I have your attention? I hope so! Because I don't want ANYONE to miss out. We are Not the first ones, but if I can help it, WE will NOT be the last!
Moving on. Before we start claiming Faucets and worrying about anything else much more. I must move on to our next subject. We are Building our foundation for the future. Building a strong base, to support the top level of this structure.
This shit isn't going to happen over night!
Mining.
What is mining. Or, better yet.... What is Mining Bitcoin? Well, my source https://www.bitcoinmining.com/ tells us that,
"With paper money, a government decides when to print and distribute money. Bitcoin doesn't have a central government.
With Bitcoin, miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine.
Bitcoin is Secure,
Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure."
There is only 1 problem with mining. Big companies have noticed that... You can make a shit ton of money mining Bitcoin!! (And Altcoins too!) If 1 mining rig can make you $100 a month. Why not invest Millions into a factory that has HUNDREDS of computers, all using the BEST software available utilizing the fastest speeds possible. Well, with the price of 1 Bitcoin has a value of $21,592.23 (At the time of typing this) You can really see the incentive to do this.
But, the more of these Super Mining facilities keep poping up. There is a "Bitcoin Mining Difficulty" As more and more computers link up and start mining, the difficulty for Solving these Math problems grows and grows.
YOU Can mine Bitcoin (Or Altcoins) too! You may use your personal Computer or Laptop to get in on this! BUT--- Remember what I was saying about the Bitcoin Mining Difficulty? Since there are these massive factories using TONS of resources and energy driving up the difficulty, it makes it hard for us individuals who would like to mine bitcoin, make big profits. Unless you go out and spend over a Grand on a mining rig, or an ASIC miner, or Building your GPU mining rig, you're not going to make a killing from mining.
Here is an example of my mining rig. I was fortunate enough to have built myself a gaming computer a few years ago, so that I could play BattleField3 on Ultra, Perfectly smooth. It has 2 video cards and a decent processor. It did cost me about $1000 to build at the time. I have it set up off to the side, running (as close too) 24/7 as I can.
You don't need a high powered computer to mine. When you go off to work, or go off to school for the day, or when you go to sleep at night. Your computer is just sitting there doing nothing. I bet you 95% of you guys reading this, don't even turn your computer off when you're done with it. Well, thanks to MANY different websites. We don't have to download this special software, go through lines of code and use command lines and such. FaucetHub and Coinpot are very good examples of that. You can mine Bitcoin, through your web browser, on those sites. I'll let you know now, that you probably will NOT make $7 a day. Heck maybe not even $4 a day. BUT. When you utilize browser mining, with all of our other methods.... It all adds up to more than what you had in the first place.
Now, some people bust out the Profits calculator for mining, so they can plug in electricity costs, and subtract that from total earnings. Add in up time, and what they spent on their equipment. All to find out how long it will take to start reaching profts.... Well. If we never go out and spend money for the purpose of mining.. We can take that negative factor out of our calculation. Electricity costs. Before you started reading this post.... Are you someone who never turns their computer off at night, or when you go to school, or work? If you don't. Then you have 0 extra electricity costs. So everything you mine, is profit right from the start.
You can maximize your mining without buying any extra equipment if: You have more than 1 computer in your house and also... If you have an Xbox One! Using your Xbox One, you can log onto your CoinPot account and mine any of the listed currencies! Check out my post on Mining with an Xbox One, here, and give an upvote if you find this useful!
https://steemit.com/cryptocurrency/@lincs/mining-for-bitcoin-on-your-xbox-one
So now we have an understanding about what Mining is, and how we can be a part of it. If you're still a little unsure about mining and what you can use to mine with, just post a reply and either I or someone will get back and help you out with your question as soon as possible!!! As part of this series, if you are following along with what I'm doing.
I would suggest to use the FaucetHub Web Miner and or CoinPot, because FaucetHub and CoinPot are already linked to your main wallet. So after you've made some profits, mining on the site, those coins are added to the coins you've been collecting from the faucets, and you'll be able to make withdraws more frequently. Because you will notice that there are Minimum withdraw amounts. You must have a minimum of, so many coins, before you are able to withdraw them.
PLEASE Do not worry about these "Minimum withdraw" amounts. These are put in place to help you! Each time when you transfer Crypto Currency funds, there is a network fee. In place for everyone in the Crypto world. The minimum withdraw amounts are put in place, so that when you do make a withdraw, those Fees are not eating up a the majority of what you're withdrawing. (You can learn more about network Fees for transferring Crypto Currency, all over Steemit, youtube and google.)
Before I carry on to the next subject, I will give you guys my list for ALL of the Faucets I use, that are in fact Directly linked to CoinPot. I REALLY like these ones because they are passive Faucets. Meaning. Claim whenever you want. Once a day, twice a day, every hour, every 15 minutes, whatever! The trick to them is actually to claim once every Hour or Two. From Empty, these faucets fill up quickly, and as the available claim grows, it slows down. So lets say for instance, if you claim a Faucet, go back in 2 Hours, there's 400 coins. But, you go back 8 Hours later, and there's only 600 coins. Make sense?
So I've found that a claim every 2 hours is probably your most profitable bet. Anyway, here's the lists (Make sure you bookmark them for easy access!)
http://bitfun.co/?ref=1D5D551CDC84 -Lots of fun games on this site too!! :) -
http://moonliteco.in/?ref=e0bdfe5cf4b7
http://moonbit.co.in/?ref=f35df963433b All these are progressive-
http://moondash.co.in/?ref=501C46F865D8
http://moondoge.co.in/?ref=3b122a3dca45
http://bonusbitcoin.co/?ref=2139AE2FC50A -This site doesn't have a progressive claim. But, it adds 5% bonus of whatever you claimed that day to the findal balance of that days earnings. Under the Claim Button, make sure you go into "Change your claim settings" Make sure you check the box of Claim Average about every time! If you don't, you have the cance to win like 5000 satoshi. But you only have 0.05% chance on hitting that. 95% of the time you are actually paid out LESS THAN THE AVERAGE. We will get better returns is we just leave the Claim Average, checked.
Here are a few more faucets I really like, that are tied into FaucetHub!
-This is a really cool Faucet. It's like an RPG game, where you can earn Bitcoin for leveling up. Super easy to do and there is a HUGE potential with this website! http://www.satoshiwars.com/?ref=31962
-http://freebtcmine.com/?partner=119249 THIS is probably the best paying faucet you will find! It has a high minimum pay out, but you can make some serious free coin on this site!
-https://freebitco.in/?r=11057637
-http://freedoge.co.in/?r=1558033
For when we are killing our faucets, there are 3 different ways to go about it.
-We can claim 1 type of coin from all the faucets.
-We can claim ALL possible different coins, then sell them for 1 specific coin
-Or we can just accumulate ALL possible coins all the time, so we keep everything diversified.
Another benefit to doing it this way, is since there are sizeable withdraw limits, you will have multiple coins ready at the same time for you to withdraw to your main wallet. You will have a bigger return. (especially if one of those coins or even a couple of them, gain a bunch of value in the market!)
You can do whatever you prefer. I havn't sat down and done the math on the MOST PROFITABLE WAY to go about doing it. But, I personally just collect like 3 different coins from the faucets, and sell them all so I can buy Litecoin. The transaction fees for Litecoin are less than Bitcoin, pretty much every wallet accepts Litecoin, you can get lots of Litecoin, so much easyer than lots of Bitcoin. And I personally feel, that there is SO MUCH room for Litecoin to grow in price, that I want to accumulate as much of it as I can now, before it gets to be as expensive as Bitcoin!
So let's run a quick recap on everything you should know and have now.
-We should have at least a mild understanding about Crypto Currency
-We should have faily strong knowledge about different ways of storing your Crypto Currency and the benefits of Crypto
-We Own 3 different wallets (At least for now) Exodus, CoinPot and Victory. Victory being the wallet we do not need to deposit into. It just gives us 5% free daily interest on the given balances. Don't touch it yet! :)
-We are signed up to FaucetHub, and CoinPot so that we can take advantage of some awesome faucets! Some of which I have shared with you in this thread..
-We now know about mining. What it is, how to do some, why and where to mine.
Next week we are going to dive deeper into this Bitcoin Mining thing and find out the BEST ways to use these massive Bitcoin Mining factories (Also known as Mining Farms). But remember, this is --From Faucet to McLaren-- I'll show you how to get some serious mining power...... For free?????????????????!?!?!?!
Cheers everyone!!!
Any and all discussion is encouraged. Share strategies, proven methods, great offers, best faucets, ANYTHING!