I just noticed that many people are asking about how to teach Bitcoin mining in the group, so I’d like to share my own perspective—because in reality, mining Bitcoin isn’t as easy as people think.

First of all, let’s understand what Bitcoin mining actually is. It’s not really “mining” ore; rather, it’s the process of verifying transactions and adding new blocks to the blockchain. Miners have to solve complex mathematical equations, and whoever solves them first receives the reward. Currently, the reward per block is 3.125 BTC (down from 6.25 BTC after Halving ครั้งที่ 4 in April 2024), plus transaction fees.

Bitcoin is currently priced at $77.57K. That looks interesting to miners—but wait, the truth is much more complicated than that.

If you want to teach Bitcoin mining in an easy way, you need to go through the main steps. First, you need to prepare ASIC equipment, which is not cheap, costing from 3,000 to 10,000 dollars or more. The key issue is that electricity costs will be the main expense of mining. No matter where you mine, you have to calculate your electricity costs carefully.

Second, you need to prepare a digital wallet (Wallet) to store the Bitcoin you mine. You also need to understand the Public Key and Private Key—because if your Private Key is lost, there’s no way to recover it.

Third, please join a Mining Pool with other miners, because mining alone is almost impossible to win. Joining a group helps increase your chances and splits the rewards based on the computing power you contribute.

Fourth, install Bitcoin mining software and connect it to the Mining Pool—then just let the system run.

But this is the point where you need to be careful: when you add these steps to teach Bitcoin mining, the reality is that the returns may not be worth it. Equipment costs range from 52,500 to 350,000 baht and up, electricity costs 3,500 to 10,500 baht per month, maintenance costs another 1,750 to 7,000 baht per month, plus a Mining Pool fee of 1-3% of your revenue.

For ordinary people, you may earn about $10-20 per day after expenses, which isn’t really an exciting amount. Compared with simply trading Bitcoin directly—which may be faster and doesn’t require investing in machines and electricity.

There is also Cloud Mining, but it comes with high fees, and some services may have problems.

In summary, if you want to teach Bitcoin mining to new people, you need them to understand that it’s not a quick way to make money. It takes time, you need to calculate costs carefully, and it may not be as worthwhile as you think. Other options, such as trading Bitcoin through an exchange platform or CFD, might be better choices for beginners.