If you have been following up with recent updates in the crypto world, you will no doubt agree that it is presently better to mine for bitcoin than to mine for gold. The work of mining can be very difficult (both for gold and bitcoin) but it seems bitcoin have a greater advantage of giving its miners huge profits.
From the recent market price, an ounce of gold is worth somewhere above $1,300 but a bitcoin is currently worth more than $10,000. This means that, for every bitcoin successfully mined by a bitcoin miner, he/she will be about nine times ounces of gold richer.
While gold investors might still be maintaining their own share of profits, bitcoin investors and miners will be making lots more. Lets point out some reasons why it is better to mine bitcoin than gold.
1. MINING BITCOIN IS EASIER THAN MINING GOLD
The first reason why it is better to mine for bitcoin rather than gold is that bitcoin mining is easier compare to gold mining. To mine for gold, one needs access to the natural resources other times it involves digging and some other procedure. But mining for bitcoin is digital, you just get your mining equipment ready, connect with the blockchain technology and you are good to go.
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2. MINING FOR BITCOIN YIELDS MORE PROFITS
For every successfully mined bitcoin, a bitcoin miner will be $10,000 richer. So if a bitcoin miner can successfully mine four bitcoins in two days, it means that the bitcoin miner is $40,000 richer in just two days. Now that is something mining bitcoin offers that gold mining can not give its miners.
For good reasons bitcoin is refer to as the black diamond of the modern day. With the bitcoin price still on the rise, one can only wait to see how far and how long bitcoin will dominate the world of currency exchange and investment.