Showing posts with label make money. Show all posts
Showing posts with label make money. Show all posts

Thursday, July 21, 2016

Top Five Ways to Make Money and Earn Bitcoins with Pokemon Go


It’s a worldwide phenomenon that nobody heard of a week ago. Heck, even after hearing about Pokemon Go multiple times from many people over several days, I still didn’t know what it was. I had to Google it. :-)

By now you’ve at least heard about Pokemon Go, even if you’re like me and don’t know what all the fuss is about. In a nutshell, Pokemon Go is an App. It’s a game for your cell phone. You wander around looking for funny little creatures (Pokemon) to capture so you can level up and find more funny little creatures so you can level up again. Yup, that’s what all the fuss is about.

But this game has a clever twist… it uses the cell phone’s GPS to find your location and map your surroundings within the game then places game objectives, random Pokemon, etc on the map so you are forced to traverse the real world if you want to go anywhere in the game. You can play while going about your everyday activities, or plan a real world activity to a destination that corresponds with an objective in the game. The phone will even vibrate when you are near a Pokemon or game objective, constantly reminding you there’s no need to pay attention to driving or other real world activities.

People old and young love the game, they can’t get enough of it. You have the challenge of collecting Pokemon mixed with friendly competition, in-game rewards, and a playful sense of treasure hunting and adventure.

The popularity of Pokemon Go has soared so fast that droves of entrepreneurial types are taking advantage of all the hype and earning real cash (and/or Bitcoins) in the process. Here are a few of the ways I’ve seen people making money with the Pokemon craze…

  • Pokemon Go Drivers – I’ve seen more than a handful of people offering to drive others around (for an hourly fee) so the passengers can play the game in the real world without having to deal with silly real world stuff. Typical Wage: $10-20/hr.
  • Pokemon Go Players – So you want to play the game, but don’t want to play it? Why not pay someone else to play it for you? Now you can and YES, this is a real thing! People are paying others $10 per hour or more to play the game for them. The players will log into your account and wander around their own town, collecting Pokemon for you and increasing your character’s level. I’ve seen more than one parent eagerly hire Pokemon Go Players to help boost their son or daughter along.
  • Make posts on new Pokemon Websites, Get Paid in Bitcoin! – Bitcointalk.org is a great place to find a few webmasters looking to pay people to join their new Pokemon Forums and post relevant topics. If you like to post to forums and wanna talk Poke-whateves, this is an easy way to make some Bitcoin.
  • Make Pokemon Go Related Videos and Monetize Them – One way to ride the coattail of this gravy train is make a video even remotely related to Pokemon Go then monetize it on YouTube. A quick search there will show the popularity is at a fever pitch, meaning it should be pretty easy to hop along for the ride.
  • Write a Pokemon Go Related Blog Post and Monetize It – Um… kinda like the blog post you’re reading right now… except I haven’t really figured out the whole money thing yet. But seriously, it’s a huge craze and if you want traffic to your blog (like I want traffic to my blog), then maybe posting about Pokemon is worth a shot…

So now that you’re “in the know” on Pokemon Go, I’m not sure if you should thank me or curse me.

I’m sorry and you’re welcome.

Monday, July 18, 2016

Bitcoin 10-Day Price Chart - BULLISH Pattern for July 18th, 2016

Current BTC Price as of this writing:  $675.77 USD (Coinbase.com)

I just ran a 10-day Bitcoin price chart and am happy to see a nice bullish pattern emerge with the STRONG POSSIBILITY of a PRICE INCREASE over the next 24-36 hours.

As long as the support level holds, it appears as though upper resistance will be tested again, meaning the price could pop up to the $685-$690 range.

The relative strength is right where it needs to be for such a move to occur, and the slow stochastic just had a bullish crossover (I've pointed out the previous three crossovers in blue and tagged a vertical line through the approximate price at each crossover.  From the chart below, you can see exactly what happen after these crossovers occur (the price moves up).

Nothing in trading or investing is guaranteed, so I urge you to do your own research before risking anything, but by the same token, let's hope this latest crossover will repeat the upward trend.


Chart courtesy of http://bitcoincharts.com.
Additions are my own and released under the same license as the chart.  Info below.

 10-Day Bitcoin Price Chart, 2 Hour Intervals


https://creativecommons.org/licenses/by-sa/3.0/
This chart (with my additions) is licensed under a
Creative Commons Attribution-ShareAlike 3.0 Unported License

Please link back to me and BitcoinCharts.com if you use it.  Thanks!

References:

Sunday, July 17, 2016

Using the Power of Compound Interest to Invest and Grow Your Bitcoins

There's a classic thought experiment in the investing world that goes something like this...  If I were to offer you a choice between receiving $1 million dollars today or a single penny that will double in value every day for the next 30 days, which would you choose?  I'd take the million bucks, at least until knowing better.  What about you?

If you took the penny and doubled the value every day for an entire month, the results start out lackluster at best but then quickly become astounding... you would be a millionaire multiple times over within 30 days!  Here's how it breaks down...


That's the power of compound interest!  Of course, this example is insanely exaggerated and the chance of consistently doubling your money every day forever probably willl never happen but there are a couple very noteworthy lessons here.

The first point to remember is that when you choose a profitable investment, your money WILL GROW OVER TIME.  It takes a long, long time, but if left alone, you will end up with quite a bit more money than when you started.

Second, the amount of time this takes can be significantly reduced AND the final dollar value can be significantly increased with one simple principal... by earning some form of cash flow (interest, dividends, etc) from your investment and immediately re-investing those profits.  When this is done, you earn interest on your interest, and the results start compounding as in the example above.  The more often you receive and re-invest profits, the faster your money will grow.

Third, and just as important, is the amount of time it takes before the full effects of compounding interest start to surface.  In the example above, we see that after an entire week of money doubling, we've managed to grow our penny to a whopping 64 cents.  Pocket change, quite literally.  After two weeks, we're still well under $100, and the $10,485 made after week 3 seems a far cry from the $1,000,000 turned down on day 1.  But then something magical starts to happen and in another 4 days our money has increased over 15 fold!  From there it gets a little silly as the money grows so fast we have trouble keeping up with it.
The point is this... the hardest and most time consuming part of growing an investment through compound interest is building up a respectable nest egg in the first place.  Imagine you started the example above with $10,000, instead of starting with a penny.  It would only take 7 days to become a millionaire.  That's over 4 times faster to reach the same goal and the only thing that changed is the amount of money we started with.

I could keep rambling about the benefits (and pitfalls) of compound interest but this article would never get finished.  Instead, let's see how the ideas above can be applied to investing with Bitcoins in order to make your Bitcoins earn more Bitcoins.

There are countless ways to "invest" your Bitcoins, some are legit, quite a few are not.  One method of investing with Bitcoins is to lend your Bitcoins to someone else for a length of time and then earn interest on the loan.  It can be risky, but there are companies that will mediate the loans and help alleviate some (or all) of the risk.
So it's possible to loan out your extra Bitcoins and make money for doing so.  Then, to do it again, only this time you make money on a bigger pile of money.  The next time you make more money on an even bigger pile of money, and on and on and on.  It just takes time, patience, and discipline.

Over the past couple weeks I've been playing with a couple sites that allow you to loan/invest Bitcoins in this way.  Yes, my profits are starting out small, but I am re-investing ALL of them along with the principal, and I'm repeating the process as often as possible, all while protecting the initial investment.

Now that you've got a primer on the power of compound interest and see how it can be applied to generating Bitcoins, the next article will cover some of the Bitcoin lending services I've tried and my thoughts on the best ways to earn compound interest by lending out your Bitcoins.

Until then, keep letting those pennies add up!

Thursday, June 30, 2016

MinerGate.com Review – Mine the Most Profitable Altcoins with this CPU and GPU Mining Pool

Since my computing power and money resources are limited, I’ve been searching for a profitable way to cpu mine altcoins and haven’t had much luck until now.

MinerGate.com is a cross-platform, profit switching mining pool that allows you to CPU mine or GPU mine the most profitable altcoins easier than ever no matter which computer operating system you are using.  The MinerGate mining software is available for Windows PCs, MacOS, Linux, and Unix, and they even have a CPU mining app for Android smart phones in the Google Play store.  With MinerGate, you don’t have to worry about which mining software to use or getting the settings right for each separate coin, they do this all for you… automatically.

The multi-pool allows you to mine popular altcoins like Ethereum, Monero, Bytecoin, Dashcoin, etc.  You can even mine Bitcoin or Litecoin if you like, although chances are they won’t be nearly as profitable to mine as the other crypto-currencies.  So what, you say?  There’s a ton of profit switching mining pools out there, you say?  Yes, I absolutely agree and have tried them myself and have to conclude that MinerGate.com shines beautifully where other CPU mining multi-pools have failed.

In a nutshell, MinerGate is easier to use and more profitable than all of the other CPU mining pools I’ve tried.  It only takes a couple minutes from the time you first visit their site to the time you’re mining away, and starting to make money!  It really is that quick and easy.
Usually, when you want to CPU or GPU mine any crypto-coin at most any pool, they only offer minimal help when it comes to installing and using mining software to work with their pool (and for the type of crypto-coin you want to mine).  MinerGate flips this concept on its head by offering their own mining software for free that is already configured and set to start mining altcoins as soon as its installed.

Smart Mining
The mining software has a nice feature called “Smart Mining” where it will automatically mine the most profitable cryptocurrency at any given time (from the list of coins that they support).  When mining in this mode, the software will automatically switch mining to whichever altcoin can be converted into the most Bitcoins at the current exchange rate.

Single Coin Mining
This is great for those of us who want an easy way to CPU or GPU mine our favorite coin and aren’t so concerned with always switching to whatever coin can be sold for the most at that minute in time.
A lot of people interested in Monero (XMR) or Etherium (ETH) choose this option and mine only that coin.  Single coin mining is especially useful for anyone new to Cryptocurrencies who wants to give it a shot on a cool new coin without much investment or risk.

Benchmark Your Mining Rig
Whether you’re CPU or GPU mining, there are several little interesting features including a Benchmark area where you can test your computer’s hardware to see how it compares with others.  I knew my laptop was old and decrepit but my benchmark results kinda feel like rubbing salt in a wound.   https://minergate.com/b/1bf71646bd70eaf30baff0b852092be435747ff8

Achievements
Just to keep things entertaining and provide little rewards for using the mining software, there is an Achievements area where badges are earned for completing challenges.  The software claims that you get a “MinerGate prize” after unlocking all achievements but I haven’t got this far yet so I don’t know what the prize is or if it is any good.

Integrated Wallets
Each altcoin that you mine (or fractions of coins) will show up in the Wallets area.  This section definitely needs work (at least the Linux version).  If you show too many coins here at once, they just run off the bottom of the screen and you have no idea what those coins are or if you have mined any.  You can select which coins to show in the “View” menu but it is a cumbersome process, especially if you want to view balances for more than 5 or 6 coins at a time.
The work-around… use the mining software for mining, and the website for analyzing account balances, wallets, and other stats.

MinerGate also offers a sort of auto-exchange called Changelly where you can easily convert one crypto-currency into another.  There is a 0.5% fee for doing this and I haven’t cross-checked their exchange rates with other altcoin exchanges so can’t say a whole lot more yet.

Withdraws
From the website you can withdraw/send any of the altcoins you’ve mined to another address (instead of leaving them in the pool’s wallet or converting directly to Bitcoins).  I’ve talked to many others who’ve had successful withdraws here and reputable members who recommend the site but again I can’t post my thoughts until my account has built up enough where cashing out is an option.

That’s all for now but please check back often as I’m adding more and more to this site and will update this post with anything new.

Feel free to post in the comments if you’ve had success (or problems) with MinerGate.com