Back in 2015 I was fortunate enough to buy shares in a Bitcoin mining farm based in Iceland. I didn’t know anything about Bitcoin but it seemed like a good punt at the time. The company was, and still is, called BitClub Network and it was possibly the best investment I’ve made in my life.

Timing is everything of course.

In the first year or so I was fortunate enough to mine a life changing amount of Bitcoin. I didn’t know this at the time, of course, as Bitcoin was around $300-$400 a coin and that seemed a huge amount of money even then. Fortunately I didn’t just spend it all and the Bitcoin I kept has, as most of you will know, gone stratospheric in value, currently sitting at around $7400 a coin.

But as more and more people got into mining Bitcoin, the built in mining difficulty increased, and so did the electricity costs involved in running the computers required to mine it.

From 2018 onwards the amount of Bitcoin I was getting out of BitClub Network dropped by a staggering amount and would have made it an unprofitable investment had I joined then.

I’m pleased to say that a good many CashMaster readers followed my lead on BitClub Network and also bought shares at around the same time I did, and have also been very pleased with the result. But I also know quite a few didn’t, or they came in much later when most of the BitCoin was starting to dry up.

I’ve always thought this was probably a once in a lifetime opportunity that I was fortunate enough to jump on at the time. I say fortunate, but I know I make my own luck to a certain extent by being willing to take punts on things. I’ve lost a lot of money on stuff over the years but, as with value betting, if you’re always taking punts on things where the returns offered greatly outweigh it’s true chances of success then it’s just a numbers game where you’re constantly taking the odds in your favour and, like any casino or bookmaker, you’re always going to come out with a profit over the medium to long term.

Even so, given the amount I invested in shares in BitClub Network ($3,500) and return I got from it (seven figures), I still believed this was a once in a lifetime punt that paid off.

Until now…

What if we could turn the clock back to 2015, or even before that, and get the chance to buy shares in a mining company again, with the same (or even greater) potential to profit from it?

Well, I think I’ve found it. And I’ve bought shares in it. And it’s almost exactly like BitClub Network was… with a difference.

Mining City – Bitcoin Vault

Mining City mine Bitcoin and they do it very efficiently. But that isn’t all, far from it, this is also about (and mainly about) Bitcoin Vault.

Very few people know about this yet but when it becomes better known there will be a mass of interest in mining this new boy on the block. It could quite easily become the major focus of the biggest mining surge in all Cryptoland.

But right now, if you get on this early, you are going to gain a huge advantage.

Bitcoin mining is, in the right circumstances, still very lucrative and if, as expected, Bitcoin moves ahead on another big bull run and we see prices going above and beyond the $20,000 it achieved in late 2017, mining propositions could become highly sought after again.

That’s reason enough to buy shares in Mining City’s Bitcoin mining pool because these guys do it better than anyone else.

When Bitcoin mining has been good, it has been very good, but now you need to be so aware of the costs related to mining. Most mining farms outside of the big ones in China are struggling to make mining viable. Electricity has a major impact on this of course. The secret is to find low-cost electricity that you can do a deal on and within a territory that is pro Bitcoin mining and reasonably stable politically.

For example, Venezuela boasts ultra-low-cost electricity so why isn’t anyone mining there? Well as far as I know, no-one is. I would guess because the political and financial environment is dodgy to say the least.

On the other end of the scale I am sure that the Solomon Islands would be a brilliant place to mine Bitcoin, but the electricity costs would make it impossible.

During 2015, 2016 and early 2017 the amount of Bitcoin acquired from that initial cost input was exciting and hugely profitable but since the later part of 2017 and beyond, the costs and difficulty of mining have taken the shine and the profitability away for most.

Does this mean that Bitcoin mining is no longer viable? No, it absolutely is still viable. But you really must be mining it efficiently and at the lowest possible costs. You stand no chance unless you have big money behind you and access to the latest technology. Mining City use BTC.com miners. Here they are on the blockchain data charts:

The Mining City facility is based in Kazakhstan where mining power costs are affordable and Bitcoin mining is still very profitable even if Bitcoin values go lower.

To mine Bitcoin, to acquire the asset through the natural process of new coin being created from the block, must still be the sweetest way to acquire your own. I was lucky enough to be acquiring Bitcoin from the block through mining in 2015 and beyond. The costs of gaining the right to mine (albeit through a pool) were within my ability to pay and the pool I joined was (1 share) $500, (2 shares) $1,000, (4 shares) $2,000 or all 7 at $3,500.

There is an almost identical structure at Mining City.

But wouldn’t it also be fantastic if something new could be mined in the same way that could, realistically and potentially, go the way that Bitcoin went?

Enter Mining City’s Bitcoin Vault

Bitcoin Vault is not a standalone project. Mining City mines ordinary Bitcoin and will continue to mine Bitcoin so Bitcoin Vault is an additional product of Mining City, but it requires buying a new type of mining machine.

They have two types of mining machines, mining two different coins under the same roof. You don’t need to be involved with both, but I want to be into both. That way, when (if) Bitcoin steams up to $50,000, I get the benefit of the increased value again, but I also have the new project to profit from too.

When Bitcoin first appeared no-one could have known whether it would take off, but it did and those that got behind Bitcoin in the early days made an absolute fortune.

I now find myself looking at the possibility that it could happen again.

Fundamentally, Bitcoin has experienced only one critical vulnerability in all its time in play since inception.

Now this isn’t often talked about but that happened when one malefactor snagged billions of dollars-worth of Bitcoin, back in (I believe) 2013, still very much the early days. Fixing that required a rolling back of the entire financial record (blockchain ledger) by 24 hours. That fixed it and, to be fair, just one vulnerability in nine years is praiseworthy.

One of its greatest achievements has been to ensure that, to date, Bitcoin has run without any central system, and remains totally transparent and decentralized today.

Bitcoin Vault is based upon the original Bitcoin protocol.

The total amount of Bitcoin Vault coins to be mined (using the same proof of work strategy that Bitcoin has always used) will also be 21 million. And the aim is to hit the 21 million end point at the same time as Bitcoin. So there will be, like Bitcoin, only 21 million of these Bitcoin Vault coins.

That rarity formula has proven good for pretty much every Bitcoin offshoot so far. Whether they have come from a Bitcoin fork or whether they have just used a Bitcoin based name. If they have been limited to 21 million, they’ve done way better than your average altcoin.

Catching up with Bitcoin will require some accelerated mining and this, of course, is a huge part of the early entry advantage of this project.

This image very adequately paints the full picture of how that is going to be done:

You can see that between now and May 2020 the block reward (every ten minutes) will be 175 coins. Even shared in a pool this has massive potential. Right now only Mining City is mining this and when you come in and buy a mining pool share of Bitcoin Vault, you will be receiving block rewards in your wallet after 90 days. Everyone who has already joined, also has the same 90 day lead in period.

As an aside, the Mining City Bitcoin mining shares have a 10 day lead in.

The goal is to mine the first 25% of Bitcoin Vault to test the profitability of this new coin before it goes broadly public. This internal experience, through using testimonials from those that were in, is what will be used to promote the coin publicly once that begins.

Potential advantages of Bitcoin Vault over Bitcoin:

A long-term (safe) electronic store of value – This new coin will be stored in a far more secure way than Bitcoin even and more securely than gold. It will have store of value and users can hold their coins with absolute peace of mind.

Protection from fraud and theft – You know that all transactions on Bitcoin can never be reversed. In the main that is good and, for some, part of the attraction. But it also means that millions, even billions, of dollars have been lost in Bitcoin because people transferred to accounts that don’t exist because they mistyped a Bitcoin wallet address or were tricked into sending to fraudulent accounts.

With this new coin, every transaction is alerted on-chain in a separate and additional way for 144 blocks and can be cancelled within 24 hours IF a mistake has been made or an address was used that is subject to a fraudulent scam.

Therefore, subject to some good checks to make sure the sender is being genuine, if a transfer is made to a bad or wrong address, the funds can be recalled back to the original wallet through an emergency recovery key. (Please note, this cannot be abused by unscrupulous purchasers – I don’t understand the tech behind that but apparently it all works well).

A higher reward for miners – As popularity increases, miners increase in number and difficulty also increases. But for this new coin, the block rewards for miners will be very much higher than that of Bitcoin until it matches Bitcoin’s circulating supply, which is expected to be over approximately one year.

So, what is in it for us?

You may already know that there are over 22.9 million Bitcoin addresses, and only 588 addresses have more than $10 million worth of Bitcoin. For reference, that means the wealthiest people in the world by Bitcoin can fit into a single Boeing 747 plane.

So the goal here is to ensure that, as early adopters, we could be among the wealthiest people in the world through Bitcoin Vault .

Sounds good to me!

Of course, like with BitClub Network, buying shares in this mine is a punt. It could amount to nothing. But the upside potential is simply staggering which makes this probably an even better value bet than I had when I joined Bitclub. Plus, I suspect that once the coins are tradable it is likely that I’d be able to sell enough to cover my investment costs at the very least.

I’ve bought shares in Mining City in both the Bitcoin pool and the Bitcoin Vault pool and I’m looking forward to seeing how this pans out over the next few years.

You can see FAQ’s here.

You can join Mining City for free and buy shares here