Joby Weeks BitCoin Miner on Free Energy


Bitcoin entrepreneur Joby Weeks from BitClub said earlier this month that their company is looking for the cheapest source of energy in the world.  According to Joby Weeks himself, no one consumes as much electricity as BitCoin Miners and now their next step is figuring out how to provide Free Energy to the world.



Jeff Berwich and Joby Weeks talk about Cloud Mining


In the video posted Jeff Berwick on his ‘The Dollar Vigilante’ Youtube channel,  Joby Weeks goes on to explain that they are looking all over the world for the cheapest possible sources for clean energy to power their BitCoin Mining. The company BitClub hosts industrial data computing centers that perform the advanced and demanding calculations necessary for crypto currencies.

Because BitCoin mining is such an energy intensive process it’s not longer very profitable for people to mine bitcoins as home, the answer is Cloud Mining. With BitClub anyone can purchase a contact and share the costs and the labor of mining BitCoins. At the moment over 300 000 individuals have signed up and participate in their Cloud Mining Programs.


BitCoin Mining and Electricity


I am myself quite new to BitCoin and Cryptocurrency so please feel free to correct me in the comment section below. The BitCoin which is an alternative digital currency has grown over the last five years to become a multi-billion-dollar industry.  It is by no means a perfect currency and while there are benefits of crypto currencies there are of course drawbacks as well, but the matter of the fact is that day by day the interest for these currencies are growing immensely. Some of the benefits are less to none paperwork, direct transactions cutting out the middle hand, high appreciating value (very volatile),  quick and cheap irreversible transactions.

Today the price of just one BitCoin is approximately 4600 USD, per Bitcoin!  BitCoin and Alternative Cryptocurrencies (AltCoins) can be mined in industrial data computing centers in a similar way as Gold is mined in Gold Mine. The mining centers which are huge operations running extremely expensive cutting edge computing technology are awarded coins every few minutes by crunching data. Because the difficulty to mine coins is all the time increase and due to the cost of energy to run a mining rig the rigs are updated or exchanged about every 18 months or so – after this time the rig is no longer profitable.


BitCoin Prize 06092017

Mine BitCoins with the worlds cheapest electricity


Having access to the worlds cheapest electricity one actor can take a sizeable chunk of the market, especially in the Cloud Mining Industry where huge amounts of individuals come together to share the cost and the profit of mining.  Working with an energy giant such as waterfall is not enough, the data centers gobble up so much energy they mining companies have to spread their data centers around the world.

With cheaper energy costs it’s possible to run your mining rig longer than your competitor, it could also be possible to buy up old mining rigs on the cheap and turn a profit on their continuous operation. Maybe it could be possible to buy old rigs by the price of scrap metal?

BitCoin and Free Energy


BitCoin or other Cryptocurrencies might continue to grow and while hard to say stands a chance to outgrow other currencies. In a land where there is inflation BitCoins can enable trade, individuals in third world countries who do not have access to a bank account could trade with BitCoin using a phone.

There are only a few Bitcoins in the world so their value is rising, more and more people daily starts to trade in coins, play with coins or seriously invest. In a future world, machines and robots might have a bitcoin wallet of their own, receiving and paying for their own energy usage and their own raw material.

Just as every other industry, lack of cheap and clean energy is a problem. Imagine the mayhem coupling BitCoin Mining with Free Energy Technology. Those that read my blog probably see where I am going with this…..


Bitcoin cash - Invest in BitCoin September 2017


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** Please note that I am not a financial advisor and you should never invest more money than you can afford to lose. Just as the price of BitCoin, Ethereum, and other coins can go up, the price and also go down.

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