So, Bitcoin has recently reached almost $3,000 in value on the marketplace so I wanted to make this quick video to show you how with your existing hardware
You could actually make a little bit of money or a little bit of Bitcoin from what you already own
Hey guys, Johnathan here with TechWizTime in this video it's a little bit different I'm sitting on the couch, I'm
Sort of trying to relax a little bit and just talk to you like as if you were sitting here with me
So yeah just a little bit different but the reason for that is because I wanted to talk to you about the recent hike in Bitcoin prices
So currently Bitcoin is sitting just over $2000, they're going up and down but it did reach as high as 27 hundred US dollars
So what I wanted to do was make this quick video to show you how you could actually capitalize on that right now
So the good news is is that you don't need to go out there and invest it in any new hardware especially if you've got a current generation graphics card
Or even second or third generation graphics card
Even some CPUs will actually still produce a little bit of profit
So one of the easiest ways to actually get Bitcoin is to not mine Bitcoin directly which sounds sort of counterintuitive but just hear me out
So there's a website out there and it's got nice hash and you can go and visit that from the link down in the description below
But basically what nice hash is is a website that sells and buys hashing power
So what you need to do is you need to go over to their website you can download their miner
Which is on github so you can actually download the latest release or in my case I'd actually download the latest stable release because I just I feel more comfortable having a stable version rather than an unstable version if you know what I mean
So once you've got the software what you can do from there is you can set up your wallet
Now some people that are already familiar with mining will already have a Bitcoin wallet however
If you don't you've got a couple of options here
One of them is to actually sign up through Nicehash their website and sign up for a wallet there
The advantage of having a Nicehash wallet is that you can and get a payout early so
Instead of having to wait for their schedules and so forth
If you have a Nicehash wallet then you can actually get that payout just a little bit earlier or the other option you've got is to sign up for any of the other wallets that are out there like Coinbase or so forth
So once you've downloaded the software and you've got yourself a wallet you go through setup the software with your Bitcoin wallet address which is quite a long string set up where the closest country is to you in my case it's China and Hong Kong
And you run a benchmark just to see where you sit with your particular graphics card or CPU
Now one of the handy things about Nicehash is that on their website they actually do have a profitability calculator so you can put in the cost of your electricity you can select what graphics card or CPU you're using
And then you can calculate out if it's going to be profitable or not and in my case when I factor in electricity and so forth
My GTX 980 is actually going to earn me three dollars a day
So three dollars a day in Bitcoin as well so that's where it gets really exciting because they payout in Bitcoin but they will mind whatever currency is the most profitable at that point in time
So Bitcoin does drop in value then it isn't going to necessarily be just mining for Bitcoin
It'll go out there and sort out what the current highest value virtual currency is and mine for that for you
So it's pretty much a set and forget thing
So there's probably people out there that are thinking "Yeah, three dollars a day, that's nothing" but when you think about it, okay three dollars a day
That works out at thirty days in the month roughly you might all say so that's ninety dollars in one month that you'll get In Bitcoin for just using your graphics card, now
For most people that's like yeah but there's electricity in factor in but once you've affected in the electricity and you take out that from the equation we're still making a profit
And the other beauty of it is is that there are places out there that now accept Bitcoin so
As an example the Steam summer sale is coming up
And the Steam store actually does accept Bitcoin so you could be mining for the next month until the steam summer sale comes up
And you can spend that on you know some of the latest games that are coming out there
So when you're not gaming
Throw the Nicehash miner on and actually earn a little bit of Bitcoin so you can pay for
You know those cool sales that come up during the Steam summer sale
So again this isn't a full-blown tutorial it's just to let you know that this is out there because some people don't know that
And Bitcoin is very popular and if you leave your computer on most of the time and you're not too worried about electricity costs, or even if you are
You can still see whether or not it's going to be profitable for you
So what did you think of this new style of video me just sitting on the couch, having a chat
Talking about something that's current that you might be interested in and it's tech related, so
Let me know what you think down in the comments below or
Give me a thumbs up if you liked it if you didn't like it definitely give me a thumbs down because then I can know "Yeah OK"
It was crap you didn't like it
I'll try and think of something else to do differently like I like sitting on the couch alike it's comfortable I can talk to you
It just feels natural
I just released my channel trailer this week so if you haven't checked it out, check it out
I think I was a pretty cool guy in it
Anyway that's it for me so as always
Imagine, Learn, Create