A
Solution
There are two ways to make money doing such things, though you can blend the two. Maybe 3 in some cases but that is more facilitation (possibly literally if the police/prosecuting type cares to make it so).
1) You have enough computing power and electrical power that the exchange rate is better than the cost of using them to mine coins/act in the giant computing problem that underpins crypto currencies. Different currencies have different requirements (sometimes by design) for what they need in computing, and how many people are participating to get it done.
2) You bank on the idea that the crypto you either bought or created/mined will be worth more in the future so you buy it now, sell it off at that point in the future and any difference then becomes your profit. In many ways you are some years late for this one.
3) You buy them and sell them on to people you meet in the real world if they are unwilling or unable to do things. Depending upon where you are then this can mean various people ranging from those looking to move some money and dodge fees, those looking to invest, or those looking to dodge the law (at which point you might have just helped them do it and the police come step on your fingers to make you talk).
For the most part crypto is bitcoin and all the rest.
All the rest is four or five coins (ethereum being the one you have most likely heard of) and then a few million more that are likely going nowhere. There may be another in the future (bitcoin has several weaknesses, most of which others aim to address if not otherwise adding new features -- see smart contracts which was ethereum's big trick) but who knows. At the same time the millions going nowhere are often pretty volatile.
https://www.tradingview.com/symbols/BTCUSD/
The wild ride of bitcoin has sort of come to an end (today it is not so far off what it started the year at) but I suppose back in March had you bought in at the low point you would have more than doubled your money had you sold today. The days of hundreds of percent though are way in the past.
Mining. At this point thousands in hardware investment up front and a lot of cheap power is what you need there to join a pool and have anything useful come of it.
1) You have enough computing power and electrical power that the exchange rate is better than the cost of using them to mine coins/act in the giant computing problem that underpins crypto currencies. Different currencies have different requirements (sometimes by design) for what they need in computing, and how many people are participating to get it done.
2) You bank on the idea that the crypto you either bought or created/mined will be worth more in the future so you buy it now, sell it off at that point in the future and any difference then becomes your profit. In many ways you are some years late for this one.
3) You buy them and sell them on to people you meet in the real world if they are unwilling or unable to do things. Depending upon where you are then this can mean various people ranging from those looking to move some money and dodge fees, those looking to invest, or those looking to dodge the law (at which point you might have just helped them do it and the police come step on your fingers to make you talk).
For the most part crypto is bitcoin and all the rest.
All the rest is four or five coins (ethereum being the one you have most likely heard of) and then a few million more that are likely going nowhere. There may be another in the future (bitcoin has several weaknesses, most of which others aim to address if not otherwise adding new features -- see smart contracts which was ethereum's big trick) but who knows. At the same time the millions going nowhere are often pretty volatile.
https://www.tradingview.com/symbols/BTCUSD/
The wild ride of bitcoin has sort of come to an end (today it is not so far off what it started the year at) but I suppose back in March had you bought in at the low point you would have more than doubled your money had you sold today. The days of hundreds of percent though are way in the past.
Mining. At this point thousands in hardware investment up front and a lot of cheap power is what you need there to join a pool and have anything useful come of it.
A job is what most people would tell you, maybe you can find something that is in high demand and get inventory of it and sell it, and make money that way, for example I use to get white N3DS cover plate for like $10 and sell it for $50.
Yes but you'll have to mine and hold coins that you can get into in early stages of development, and its still a gamble albeit a significantly less financially invested one. Time, however... you'll put in time. Crypto is evolving into being more than fiat currency as a value measure and standard. Fiat currency simply holds value, but fluctuates based on various factors. Crypto is evolving to not just measure and hold value, but to add it as well through basic foundation ideas. Ethereum is essentially a programming platform for Dapps, Golem is a project supercomputing platform, and Chainlink is an oracle platform. All add value by doing more than holding it. This is why Bitcoin has lost its luster among investors. Its still stable due to its age and market value, but other coins offer more developed value solutions, so naturally they excite investors more. There are many other coins in early stages still being mined, but as mentioned be prepared to hold your earnings until value pays off.
The trade off is power consumption and hardware for Bitcoins. This is only really viable if you live somewhere with cheap electricity and you can buy enough computational power (rig) in order to solve an entire block in the blockchain. With Bitcoin, if you can't solve the block in 10 minutes, you won't get the coins.
An alternative is pool mining, where you help others solve a block.
This is much more likely to pay out, but you get fractional rewards.
One more thing, Bitcoin mining rewards drop by half every four years.
Whether mining is for you, I recommend you buy some BTC and forget about it.
The market has crashed twice in the last 4 years because it's so volatile, but I see BTC reaching $100,000 someday.
You can get started here.
An alternative is pool mining, where you help others solve a block.
This is much more likely to pay out, but you get fractional rewards.
One more thing, Bitcoin mining rewards drop by half every four years.
Whether mining is for you, I recommend you buy some BTC and forget about it.
The market has crashed twice in the last 4 years because it's so volatile, but I see BTC reaching $100,000 someday.
You can get started here.
your wasting your time either just get an entry level job OR even streamers make more than this bullshit these days. all your doing is hurting the market by increasing fucking GPU prices!
Spend whatever computational power you have right now and put in time (you said you don't have a job so you must have time) to learn a skill that will make you money, or put in effort and time to do something online such as YouTube, making mods, advertising or something. Simple internet related stuff will make you steady income over time, and you might not ever see the numbers do any crazy jumps like crypto would but over time you'll get a long stable income stream. The easy way out (btc) isn't gonna work right now, unfortunately.
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