How to earn BTC with Antminer Hardware in Pakistan
We all know that Bitcoin is a virtual Crypto currency/asset/software. I will not dig into the depth of who invented bitcoin and how it came into existence because almost half of the digital world knows about it and is using bitcoin. Satoshi Nakamoto was the inventor of Bitcoin who published the invention on 31 October 2008 in a research paper called Bitcoin that is mined in the parlance by computers plugging away at very hard math problems and is connected to a ledger called Blockchain. It is of much importance in Europe, America and China where people do online shopping by using it in the same way as by using the credit cards. I would like to write about Bitcoin mining today.
Bitcoin is not run and managed by any individual, business or company. There are various ways to get it that includes CPU mining, cloud mining, GPU mining and ASIC mining, but the easiest and profitable way is ASIC mining. It is a hardware machine that is recognized as Bitcoin Miner Hardware or Bitcoin Antiminer. You can get it by from any part of the world as mining systems are set up worldwide. Now, a lot of people in Pakistan are making Bitcoins through ASIC miners without interrupting their jobs or any physical business routines. The mining system can be installed anywhere with the help of internet and electricity where Bitcoin mining will come into process automatically. We only have to buy miner hardware machine (ASIC miner), and it is connected to an online database where earned Bitcoins can be seen. The mining speed can also be noted down.
It is the best time for earning Bitcoins in Pakistan. With the rising trend of mining, the difficulty in the mining is being increased. If someone was able to mine 1 Bitcoin 3 years ago, this process has been decreased to half or even less, but the mining speed, cost of electricity and miners efficiency remain same. The buying selling price of Bitcoin is also increasing day by day with the rapid demand of this digital currency. So, what are you waiting for? Start mining today as there is a total of 21 million Bitcoins in the world and more than 13 million has already been mined. That is why this process will not be beneficial after 2 or 3 years as it is now. Start this world’s fastest growing business and buy Bitcoin miner right now. It is to inform that mining machine (miner) will remain your personal property for the lifetime. There is no better way for the investors to invest in it and earn a living.
However we do recommend checking profitability as it may vary from person to person. Therefore please also google bitcoin mining calculator to calculate your income. These machines are sold by 3rd party vendors and are not associated with this website in anyway.
I will be covering how to earn bitcoins through ptc sites and faucets sites. Please take note we are not associated with any sites and have only used them. We will not be held responsible for anything or any loss on these sites. I am just posting them because lots of people want to earn online through easy means so bitcoins is one of the easier and better way. Here you will learn how to earn bitcoins or btc in urdu from a ptc sites that basically pays you some btc for simply watching videos. Video dekhnay say phelay app yehan register karain Ads4btc.
Bitlanders is a social platform similar to facebook. We have written about it before and how to earn bitcoins through it. I will try to cover that in roman urdu for people to read here while also adding videos on it so you guys can learn about it and how to use it.
Yahan I have made a series of 5 videos jin may bitlanders ko use kernay ka tarkea hay.
Video one may urdubit ki malommat hain jahan say app apnay bitcoin ko pkr may convert kerwa saktay hain lakin yeh bhot baad ki stage hay. Is pay abhee register nahee karain kion kay bitlanders say app ko minimum 0.0251 btc chaiya takay app un ko withdraw kerwa sakay
Video Part 1
Video Part 2
Video Part 3
Video Part 4
Video Part 5
This is the last video that I will cover in this and it is how to withdraw btc to payza I will cover payza in more detail on a different post with how to withdraw from there. Before bitlanders would give you bitcoins directly now you have to use payza.
Withdraw From Bitlanders
Bitlanders has shifted to bitmiles which can be cashed out via payza then from payza you have to select bitcoin withdrawal.
From here on I will cover more sites that pay out in bitcoins. Please note karain kay in may say koi bhee site hamari nahee hay. May nay sirf isliya post ker raha hoon takay app khud in say earning ker sakay. Aik aur cheez I think bitlanders bitcoins may payments khatam ker raha hay.
The rise of bitcoin has seen banks scrambling to implement blockchain technology into their current system. The underlining tech may truly be revolutionary, but thats not where the banking ends. I have posted a blog before referring to where the banks got it wrong. Banks and bitcoin is at war, so as it seems. The idea presented by satoshi nakamoto in my personal opinion was more on decentralization which was backed by a truly remarkable software in the form of bitcoin/blockchain that we see today.
Banking & Bitcoin:
A few things that have had confused me earlier or maybe I misinterpreted, was that bitcoin is a replacement of banks. The thing I have now come to realize is that bitcoin is really not the replacement of banking. But infact is a replacement for the current fiat currency as we have come to know it. Fiat as we know is governed and controlled by countries its accepted in. That is also why it holds value and is constantly exchanged back and forth with bitcoin. Why I say this is because I believe banking has so many more aspects to it then we as tech enthusiasts forget to see or realize.
Banks offer banking. Yes they are controlled and centralized but arent all the services that are being built on bitcoin the same? We see banks as a place to hold our money, isnt that what bitcoin wallet services such as bitgo or coinbase or mobile wallets doing the same? with the blockchain becoming bigger and bigger its harder to run the full bitcoin qt clients.
Then we look at services such as btcjam and bitfinex which offering loans and buying btc on leverage opportunities. Does that not fall into the space of a loan by a bank? I think they are very similar in nature. Banks now offer you running finance, or loans on interest where as these companies are doing the same.
Remittance is a hot topic in bitcoin. Bitcoin remittance has been talked about, and service have been built upon it. There are just too many to list here with each one operating in their requisite country of operation. While all try to take bitcoin out of the forefront they are built on buying and selling btc for consumers. This model has seen some success but not on a worldwide grand scale as of yet. If bitcoin remittance is broken down into its basics it basically offering what banks do with wire transfers to your loved ones in any country.
One more aspect that I would like to talk about here is escrow service, I guess you can compare that to Letter of credit as the banks call it. Basically its a guarantee that once a service is tendered the liability of payment lies in the hand of a bank (third party). If we consider a bank a third party then there are many escrow agents working as these third parties to make this happen.
I believe bitcoin is a replacement for currency and not banking. Banks need to understand this and so do the crypto followers. The services that were being offered by banks once are now being offered by individuals who are mimicking the services of banking, one sector at a time. While its not a bad thing, I believe that banking is being revolutionized with the coming of bitcoin and it will be in the best interests of banks to realize that now then later.
In 2015 we saw numerous banks turning to blockchain the underlining technology of bitcoin to drive customer base away from btc and improve their own system in the process. An example was laid out where it was stated that Bank Of America alone uses more electricity then the entire bitcoin network combined. It was popular believe that the “beauty of bitcoin lies in blockchain”, I for one was sold on this. But the more you understand bitcoin the more you realize thats not the case, and the more you fall in love with the whole concept of bitcoin.
Many might disagree with me on this statement. While I am not saying that blockchain and bitcoin are revolutionary, all I am saying is that its not just the tech that makes bitcoin or btc special, its the underlining principle of the bitcoin that makes it the most disruptive tech in the fintech space.
The idea as purposed by satoshi nakamoto was loosely based on on torrent software where you would share your bitcoin via peer to peer system where you would not require central auditing or confirming authority. Now lets think about this for a minute. Decentralization and the open source nature of bitcoin is what make it so special. An example is the recent development disagreement by the core developers where 2 developers purposed a fork of bitcoin XT. That saw the prices of bitcoin plunge to lows of around $150. While many thought that proposal was destroying bitcoin, I believed it was making btc stronger by displaying that no one has control over bitcoin. In the end it will be the people who will decide what is good for the network and not any one entity.
The banking sector was of the belief that its the blockchain tech that drives bitcoin, and without understanding the true nature of why decentralization is important they jumped on the blockchain wagon releasing their own chains and coins in the process. I think bitcoin and banks can live in harmony, how you may ask is very hard to answer. For one I think banks can use bitcoin as a settlement product within their networks. Think of bitcoin as Mastercard or Visacard. When the concept was brought forward banks went a head started incorporating these into their systems rather then coming up with their own individual cards. There is alot to cover of how btc and bank can live in peace then this one article, but the idea can be be implemented in ways that banks haven’t imagined yet. I think time will only improve our understanding of what bitcoin is and how it will shape the future of fintech.
Idea of online earning is not an old one. We have seen many websites launched that are now selling “adpacks” or “advertisement upgrades” promising you to earn by working online. While there are many of these that make you invest upfront there are few that are completely free. The reason I wanted to write about this is because many people call us and ask how do we make money online.
Earning online, or earning bitcoin or btc is not a simple task. I tell people you have to work hard and the best way to earn especially bitcoins in Pakistan is to go to sites like fiver or my personal favorite xbtfreelancer (well they pay in bitcoin ;)) is the way to go. These are freelancing websites that offer you payments for your skills. Pakistan is now the 3rd largest freelancing producer in the world. And with recent news coming out about how freelancers are working to earn online in Pakistan the standings will only improve while providing job opportunities.
To add to this I have seen many people who do not have the skill set to work on these sites or find it very hard to compete against the set players in the field. For the later (while I dont promote these often I am telling people about this so they can give them a try) I suggest looking to something called ads viewing or clicking. These websites are pretty straight forward all you have to do is signup click on view ads or my advertisements and just click on ads and watch the ad for a few seconds. The ad window should be active for getting credited for the ad. These sites pay in multitude of payment methods with bitcoin being one of them. I would strongly suggest against buying any sort of upgrades etc from these websites and I dont run any of them. I have just been testing out a few sites such as ads4btc (video)and adfiver. You can also go on something like ifaucet and earn through faucets.
Please take note that I dont own or know about these websites. But I am testing these out just to let people know if they actually payout. I also recommend that dont buy and upgrades from these sites instead there are many sites offering this free and you can simply signup on multiple sites rather then buying adpacks or upgrades etc.
Its getting easier faster and better to use bitcoin in Pakistan. Now Paybill has gone live after the advent of topup24 going live with instant mobile topups or easyload to any mobile network in Pakistan. Paybill plans to make bill payments a breeze no matter where you are fast and instantly. Now you can simply enter your consumer number/account number and a mobile number to pay your bill instantly and receive instant sms for confirmation of bill payment by the bill payee company.
As I have mentioned before its very important for people to start using bitcoin and not just trading in it to realize the true potential of btc. With this vision, eCommerce sites such as http://www.yourstore.pk and http://www.sakamaonline.com also came online accepting bitcoin in Pakistan. We are on trying very hard to convince big name brand names to start accepting this and create a ripple effect in our ecosystem.
Pakistan is already the 3rd largest freelance work force producer in the world if they start accepting bitcoins with the absence of payment gateways such as Paypal. A Software with value such as btc can help them overtake a gap left by such service. While services such as Paynoeer and Perfect Money have tried their level best fill this gap but the issue is that these services are expensive and not easy. Hopefully one day we will see bitcoin raise to a level it was envisioned by Satoshsi Nakamoto.
My thoughts on what happened with the bitcoin price this week. I had recently covered a blog post at bitlanders covered here on why I thought the price had gone up. Closing comments were that we can see a drop if and when the sell comes.
Bitcoin Price touched the highs of 2015 by hitting $500 plus at the same time major exchanges were hit by a DDOS attack followed by arbitrage opportunities which caused a bit of concern since the transaction volume of bitcoin took a jump. As such bitcoin transactions started getting delayed to from 3 to 6 hours. Major trading platforms in China saw volumes as large as 2000000 btc in 24 hours. I guess for a person who had just gotten into this it was very shocking and exciting time but as the experts will tell you this has always happened to bitcoin. I do advise all the new investors to weigh the pros and cons of btc first, as its not just about making money on the short term.
In the News:
Bitcoin price had received great news that kept the buy pressure up. One was by Bloomberg which advised to keep an eye on btc, which was later(2 days) followed by research by CNBC which stated that bitcoin will become the 6th largest reserve currency by default at current pace by the year 2030. This was seen by large as a very positive sign and the buying continued.
The above aspects saw the rise all the way upto $500+ before the dumping began. The pull also must have created panic selling orders followed by bots going into sell mode as I mentioned in the blog and therefore saw a fall in price of btc to $360. While predicting the next wave is very difficult we are now seeing a more controlled rate around $380 to $404.
Where will the piece go next:
I am no expert at predicting prices however for traders I suggest sticking with intra-day trades rather then looking to make it big in overnight bull runs. Additionally articles are covered online at our main news site http://www.newsbtc.com and for all other news regarding litcoin dogecoin or bitcoin you can check out http://pk.newsbtc.com where we try to cover everything in Urdu plus cover Pakistan related news about bitcoin in Pakistan
Most people get into bitcoin due to making a quick buck by mining. Once they do however get in they realize that the beauty of bitcoin lies in its theory of what Satoshi Nakamoto presented. The idea was decentralization of digital assets or money or currency. While recently everyone is talking about the technology that is blockchain they fail to realize that its not the blockchain or bitcoin itself that made it famous, it was the underlining principle that your funds should really mean that they belong to you.
Fast forward today and we see most people trying to setup mining farms or make it big by trading bitcoin and crypto currencies. While I believe that bitcoin exchanges have made a big impact and are helping it move forward and making it available for the masses, we still tend to lag in actually utilizing bitcoin the way it was intended. Bitcoin was suppose to bridge the gap between third party holding your funds and charging you for utilizing them to a complete peer to peer system. I believe if we are to move forward it is very important to utilize bitcoins for buying and selling and creating opportunity to use bitcoins everywhere.
Now the question comes to mind is what I can do other then store it for value or use them as a safe guard against what recently happened in Greece? Well you can do alot now. Big name companies have begun to accept bitcoins as a payments. The reason behind this is simple its cheaper to accept bitcoins then credit cards, with no chargeback issues plus a low fee of 0.0001 btc it makes sense for people to accept and pay in bitcoins. Services such as Dell, Microsoft, Vultr(a VPS service), namescheap(domain and hosting services), expedia(hotel, ariline and local transport), cheapair(airline tickets) and topup24 (buy mobile prepaid credit) makes it easy for anyone around the world to utilize bitcoins.
Sitting in Pakistan where credit card acceptance may be one of the lowest in the world we see bitcoins as gateway. The general population of Pakistan is below poverty level and hence doesnt really have access to the international gateways like most countries do. Bitcoin can be a bright light at the end of the tunnel, donations, payments, remittance can be utilized to the micro level bitcoins. And now you also have a place to utilize your bitcoins not just trade them at trading exchanges. But if you are just old fashioned and still want to trade bitcoins for profit you can always join us at Urdubit.
On ending note, Start using bitcoins like they were meant to 😉
I will continue to blog here and post articles. I will try to move along this website teaching people how to utilize bitcoin. As such the news tidbits will now be updated at our new initiative http://pk.newsbtc.com where we will cover all bitcoin related happenings in Pakistan. Including but not limited to price analysis of major crypto currencies. We will be moving forward that direction and would like everyone to share the articles on that site so that we can move forward. I will also cover how to buy and sell bitcoin in Pakistan.