Day One: On 12/4/2013 I went to www.cloudhashing.com to try out ASIC Cloud Mining.
I purchased the Silver Plan for $275.95 USD to get 4 Gigahash/s for one year.
Cloud Mining is where you buy a chunk of ASIC processing power for one year for one price and cross your fingers and hope that the cost of Bitcoin goes up enough and difficulty stays low enough for you to make a profit.
Cloud Mining Claim vs. ASIC Hardware Purchase
I wanted to test the waters without dumping in a lot of money and the best way to do that was to buy a Bitcoin Mining Claim on www.CloudHashing.com
Before I did that I looked at 3 different ways to make money with Bitcoin.
1. Buy Bitcoin and see if they go up (Speculate) I'm used www.Coinbase.com to buy 0.1 BTC just so I can say that I have some Bitcoin. Total investment: $110.00 USD.
2. Buy a mining rig and see if you can mine your own Bitcoin. I think that the days of easy mining are gone. It's hard to say if you can make your money b…