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How to get started mining bitcoin (and actually be profitable)....

Moolah
Hey friends,
Short(er) issue today due to life being busy AF lately. I’ve been knee-deep in bitcoin mining as I continue learning what makes Bitcoin tick. So if you’re curious how bitcoins are created in the first place—and how to get started if you’re interested—this issue is for you.
On a final note: please share this newsletter with friends and family that are interested in Bitcoin and all things crypto! Twitter makes me forget that not everyone is keeping up with the fast flow of information coming out of this industry, so if you like what’s being curated or know someone who would, please forward this email!
Stay healthy,
Phil

Discoveries
This is an excellent primer on mining bitcoin, whether or not you’re seriously considering it. Braiins, the publisher, is a bitcoin mining solutions company that provides both hardware and software for mining. The article provides an overview on the economics of bitcoin mining, why mining pools are the dominant players in the industry today, and even how to source your own hardware if you’re thinking of mining at home.
AJ Scalia from Galaxy Digital penned this article on the key economic drivers in bitcoin mining. Whereas the first article above lightly touches on the economics of bitcoin mining—focusing much more on how to actually get started—this article provides a deeper dive into what determines whether or not a miner will be profitable. He also crisply explains what differentiates bitcoin from other physical commodities, like gold, and what makes them similar.
What’s more important in crypto: scalability or decentralization? Kyle Samani, co-founder of Multicoin Capital, argues that it’s the former for decentralized finance (a.k.a. “DeFi”). The footnote here is that a protocol must still be sufficiently decentralized, otherwise it’s not truly DeFi. Regardless, it’s always interesting to read how professional investors like Kyle think about the crypto space. And when you finish reading, you’ll realize that this is really a pro-Solana investment thesis in disguise. Still worth a read.
NFT of the week
Tweet of the week
Jess 🌱
MVP DAO.

> Mirror crowdfund
> Gnosis for treasury management.
> Snapshot for off chain voting
> Collabland + Discord for scheming & planning

Add liquidity to an AMM and you're in biz.
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Phil Hendricks
Phil Hendricks @PhilLHendricks

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