When Bitcoin first launched in 2009, mining it was relatively easy. Anybody with a decent computer could do it.
As more and more people got into mining, the difficulty increased. Nowadays, you need specialized hardware, and you need to join a mining pool to have a chance of making any money.
In 2009, you could have mined hundreds or even thousands of bitcoins with a decent computer. Today, you’d be lucky to mine a single bitcoin with anything other than specialized hardware.
And even then, you’d probably never see that bitcoin, as the pool would keep it.
Mining pools are groUPS of miners who work together to mine bitcoins and split the profits. If you solo mine, your chances of ever finding a block are very slim.
Even if you find a block, the reward would be so small that it wouldn’t even cover the electricity costs of mining.
So how much could you have made if you started mining in 2009? It depends on how much you invested in hardware and how lucky you were. If you had a decent computer and were lucky enough to find a few blocks, you could have made a few thousand dollars.
If you had invested in specialized hardware and joined a mining pool, you could have made tens or even hundreds of thousands of dollars.
But regardless of how much money you could have made, it’s important to remember that mining is now a very different beast than it was in 2009. It’s now an expensive and competitive endeavor that requires significant investment and luck to make any money at all.
5 Related Question Answers Found
When Satoshi Nakamoto created the Bitcoin network in 2009, he (or she, or they) also created the first block of the blockchain, known as the genesis block. This block contained the text: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.
” This quote is from The Times newspaper published on January 3rd, 2009, and it refers to then-Chancellor of the Exchequer Alistair Darling’s plans to provide more financial support to banks in the UK. The inclusion of this quote in the genesis block is thought to be Satoshi’s way of showing that Bitcoin was created in response to the 2008 financial crisis.
Assuming you have an Antminer S9, which is currently the most efficient Bitcoin miner on the market, you can expect to mine about 0.14 BTC per day. This assumes that the Bitcoin network difficulty remains the same and that the price of Bitcoin stays the same. If either of these two things change, your mining profitability will change with it.
Bitcoin is a cryptocurrency and a payment system, first proposed by an anonymous person or group of people under the name Satoshi Nakamoto in 2008. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part.
If you invested just $1000 in Bitcoin in 2010, your investment would now be worth a whopping $30 million today! This incredible return on investment (ROI) has made Bitcoin one of the most popular and profitable investments of the past decade. When Bitcoin first launched in 2009, it was worth just a few cents per coin.
As of September 2019, 1000 US dollars is worth around 0.0117 bitcoins. This means that 1000 dollars can buy around 8.5 bitcoins. However, the value of bitcoin is constantly changing, so this is only an estimate.