There’s a lot of opportunity to be found in Bitcoin right now, and William Szamosszegi believes that those with Bitcoin miners will want to make sure that their mining equipment is on. In his article, he writes that the opportunity is looking great and the U.S. infrastructure is positioned in such a way as to support this opportunity.
Bitcoin mining is facing a fantastic opportunity for growth in the United States. Bitcoin miners, remember, are rewarded for their work in securing the network for each block they mine with Bitcoin. When more miners are at work, the Bitcoin reward decreases and when fewer are at work the reward increases. A big part of the reason why this is the case is that the difficulty rate decreases.
Due to the Chinese Bitcoin mining shutdown, the difficulty rate has decreased at historic proportions. So many Chinese miners have left and put their equipment up for sale that there have been several negative adjustments. As such, Szamosszegi writes that with the high price of Bitcoin and low-priced hardware for mining the opportunity for those wanting to get in on the deal is looking great.
In keeping with the investing adage buy low, sell high, the time has never been better to get in on the Bitcoin mining action – and if you have a Bitcoin miner handy, you need to take a moment and turn it on – don’t even wait until you finish reading this article.
Bitcoin is receiving a lot more legitimacy in terms of being used as more than an investment piece. There are real estate companies that are accepting Bitcoin offers on homes, more big-name companies are investing in Bitcoin for their long-term strategies, and there are more ATMs that are cryptocurrency compatible.
The opportunity is particularly important for those with mining equipment to take advantage of. The reason being that there’s a shortage of low-cost locations, profitability is rising quickly, and cheap power locations can take over a year or longer to contract and develop. If you already have the equipment, you’re ahead of the game and can take advantage of the current environment. This is especially important with infrastructure in question.
By jumping on the opportunity quickly, you’re very likely to experience great profitability for less work than you would have needed to put in even just a few months ago. So, if you’ve set aside and turned off your equipment because you didn’t think it was worth it, it’s time to turn it back on and reap the rewards.