Certain Traits Necessary For Bitcoin Mining Success

There are certain personality traits that would adapt very well to the avocation of bitcoin mining. And then again, there are some that absolutely wouldn’t fit right at all.

If you are type of person who wants to function like a “general,” standing up in the jeep and pointing for everyone to do this or that, you are not going to be particularly ideal for bitcoin mining. This is the kind of undertaking where you really need to roll up your sleeves and get to work. Even if you are engaged with a small group of people in doing it, that group needs foot soldiers a lot more than it needs generals.

If you are the kind of person who is intimidated by competition, you may want to shy away from this. When you are mining, you are doing it as a solitary pursuit, for certain,. But at the same time, what others do has an impact on what YOU are able to do. There are only so many bitcoins out there to be mined, and the reward is being reduced, so they become harder and harder to discover. Imagine that it is like a treasure that is sitting there and it’s going to the first person who finds it. The more power and speed you are able to put behind that effort, the better your results are going to be. Of course, the converse is also true; the less power and speed, the more you are going to be operating behind the eight-ball.

Written by Bitcoin Mining on January 17, 2013.