Disclaimer: check solar installation regulations in your locale before trying.
Btc and all other cryptos can be mined for profit. As discussed earlier, mining is the verification of transactions that are happening in a blockchain network. This verification is done using powerful processors like GPUs(Graphic Processing Units) and ASICs(Application Specific Integrated Circuits). Asics are basically specialized computers with huge processing power and a resultant big power consumption rate. A miner incurs the cost of power and initial computing devices then gets awarded coins or their fractions automatically by the decentralized network.
"The profit is in the difference"
Profit = Value of awarded coins - (Cost of Devices + Power)
The computing devices are purchased only once at the launch of the operation. The cost to focus on then becomes electricity cost.
In most locations globally, electricity rates (kWh) are high . A specialized mining device like the ASIC would escalate power bills and cause thinner profit margins.
The alternative is using renewable sources to harness free power for cryptocurrency mining. Wind is also an option but solar beats wind ten-nil because it shines throughout. The sun is life. It's also natural, insabotagible, inobscurable and accessible from most terrestrial locations. With solar, one can mine crypto all day and laugh to the bank every couple of days. A miner will however need to keep an eye on their internet plan. Its preferrable to get a unlimited plan for a crypto mining scenario. Many internet providers are capping usage of unlimited plans because users who mine cryptos have been exceeding fair usage policies to their advantage.
Solar panels are relatively durable hardware. They can last as long as 20 years and all you need to do is wipe dust off the panels every now and then.
Mining crypto with solar panels has been done before, always successfully. Most of these proof-of-concept experiments were conducted in countries with short or dim daytimes. Profits that average a sustainable 500% have been reported. Solar tech keeps getting more efficient at converting photons to electricity while at the same time reducing in cost. Assuming the sun can be relied on to keep scorching Africa the way it does, it's time to take advantage of it this way. No liasing with authorities is required. Zero paperwork. You install it today and start counting your earnings the next day. Solar technology has finally found a worthy purpose than being just a just-in-case backup plan. The sun, a free and infinitely renewable source of energy coming together in a one of a kind coincidence-crypto needs a lot of power to mine, mining is profitable & solar energy is free. Somebody say hal... hallway to the exclusive banking room because you will be filthy rich if you try this at home. If subsistence mining rigs in dull-lit nations are earning a stable profit in the neighbourhood of 500% then I think Africa is one big mining pool waiting to happen. If sun were a continent, it'd be Africa. New concepts breed new opportunity. This is how the world has been since historical times. People evolved from using primitive contracts like barter trade to an agreed medium of exchange-money. The same people in 2009 found a way to advance humans' medium of exchange to a fast digital reconciliations system namely the blockchain aka the dad to bitcoin, ethereum, dash, akoin, solarcoin, et cetera. It's important to note that not just bitcoin is mineable.
"ALL cryptos are mined because they must rely on miners to scale"
Mining, redefined, is keeping your computer(node) connected to a given blockchain network to support that networks transaction processing and in exchange automatically getting fractions of the networks coins. A plethora of cryptos exist today. They have various market values. In general speak, the most valuable ones are the most profitable to mine.
Ready to order that solar package yet?
If not, more on this series will follow. Enjoy!