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Can you make a fortune mining bitcoin?
The answer is, it depends. Obviously, as the price of bitcoin climbs, each you can mine becomes more valuable. But competition goes up with the price, making it less and less likely that you’ll actually be able to successfully solve the computational puzzle which yields new bitcoin.
In the early days, bitcoin mining could be done with any old machine you happened to have laying around. But today, crypto’s rise in popularity and prominence has led to an entire mining industry, complete with purpose-built hardware and companies specializing in nothing else.
There’s no way your MacBook Pro is going to be able to compete with a warehouse filled with mining rigs.
Entrepreneur and financier Josh Moore is hoping to change this.
Josh has spent most of his career looking into alternative investments and trying to do more to make finance available to Main Street.
His latest company is a new approach to bitcoin mining that lets people buy in with their own machines and offers extremely attractive returns.
(Does this sound like a mining pool? We thought that too, and Josh talked us through the differences between mining pools and his approach.)
We hope you enjoy this episode on the future of bitcoin mining with financier and entrepreneur Josh Moore!