If you're someone that likes the idea of perhaps staying a

little bit private with your financial transactions, Bitcoin mining

is for you. Now, don't let this leak out. Sometimes when

I talk to people, I say you might put $1,000 in up front or

$10,000 up front, but then you want to continually buy Bitcoin into the future, whatever

it is. be consistent. The problem with doing that is that

people get analysis paralysis. How much Bitcoin? You're

probably thinking, have I mined since I've been doing Bitcoin mining? And it's

approximately... I'm Matthew Fraser and this is Crypto Collective.

After making millions with Amazon and e-commerce, I realized

that if I was starting again today, crypto would be my

first choice. I'm here to help you take your first steps

and build real wealth. Ready to set yourself up for life? Let's

go. Hey, guys. Welcome to this episode of Crypto Collective. It's Matthew Fraser

here. First of all, I just want to say thank you so much to everyone for tuning into

the episodes. We've had a huge influx of people now who have found the channel.

Thank you so much. And if you haven't already subscribed, please do so. We're going to be putting out a

lot more content into the future. So today's episode is going to be about Bitcoin

mining. Now, I've been Bitcoin mining now for coming up

to about one year. So I want to give you some of the insights that

I've taken away from that, how much money have I made, the costs,

some of the risks that I see in doing this. Because one

thing is that I think it's, first of all, can be part of your Bitcoin accumulation

strategy, right? Because one of the questions that comes up all the time is, should

I just buy Bitcoin straight up, or should I buy

Bitcoin mining machines? I've bought Bitcoin, obviously,

like straight up, yeah? Allocated money into Bitcoin. But

one of the other strategies is actually the

Bitcoin mining. Now just very quickly, if you don't know what Bitcoin mining is,

basically you buy a computer and it mines Bitcoin

from the protocol of the Bitcoin protocol and

just dishes out Bitcoin every single day into my Bitcoin

wallet. Now that's the basics of it. And in doing so, you've got

to buy a Bitcoin mining machine and mine is actually part

of what's called a Bitcoin mining pool, right? Which means there's a whole big warehouse

full of Bitcoin mining machines all working hard to

mine Bitcoin to deposit into my wallet. Now,

when I first did this, it wasn't because I was thinking about

getting rich. If you're thinking about getting rich off Bitcoin

mining, then just move on. You're probably better off just to

buy Bitcoin and forget about it. But one of the things I love about Bitcoin mining

is I'm now part of the Bitcoin mining network.

It's just another sort of, I guess, feather to

the hat of just my experience within the Bitcoin space.

And in doing so, though, there's been some key highlights. And I want

to share some of those key highlights with you. The first thing

is, and I did actually mention this on an episode that's either

coming out now or might be coming out soon, where I interviewed Will

from the mining store. Now, Will is an incredible guy. He knows all

about Bitcoin mining. So make sure you tune into that. It goes a lot deeper into

Bitcoin mining. But my experience. has been some

huge wins, some psychological wins. So

the first thing is that Bitcoin mining

becomes a DCA strategy. So

sometimes when I talk to people, I say the easiest thing to do is to, OK,

you might put $1,000 in up front or $10,000 up front, but

then you want to continually buy Bitcoin into the future, whether

that's $100 a week, $1,000 a month, whatever it is, be

consistent. The problem with doing that is

that people get, I guess, analysis paralysis,

even about the DCA strategy. So they might be putting

in $100 every week. And then all of a sudden, you stop doing it, because either

the Bitcoin price has come down. And so therefore,

they're thinking, oh, it could go down even more. So they stop buying,

when really, when it's down, you should buy more. it

gets it goes higher the Bitcoin price goes higher and

I think oh I don't I don't want to buy my hundred dollars a week now because Maybe

it's the top. So these factors now actually

stop you from allocating either way But when

you buy when you have your own Bitcoin mining machine it doesn't care

what the market is doing whether the price goes up or the price goes down it just keeps

allocating you Bitcoin all the time, right? So

that is some really, really interesting strategy to just set

and forget. And keep in mind, too, because I'm part of a Bitcoin mining pool,

I actually do nothing. And for most people, they want something that

is completely hands-off, completely passive, and this is why Bitcoin mining

is so powerful, because it does exactly that. I actually just have a

screen on my computer you can log into, and you can see the Bitcoin mining

getting mined every single day dropping into your wallet. I

started off with three of these mining machines. I then realized

that the DCA strategy was now really, really powerful. So I increased it

to then five machines. Hey guys, real quick. If you've been wanting to earn passive

Bitcoin, but don't want to deal with banking regulations or technical setups,

check out Mining Store. They help you buy and host ASIC miners in

pro-grade facilities with no technical capabilities or

infrastructure costs on your end. Just passive Bitcoin sent

straight to your wallet. Use the link in the show notes to learn more. Now

back to the episode. Now it was around this time that something

bad happened. And that was that the warehouse in

Norway actually had an electrical fault. So here I've

got these three to five Bitcoin mining machines. I

think it was actually three at the time. And they're now offline. So

one of the negatives was that these three Bitcoin mining machines

went completely offline. And it ultimately ended

up being for a period of, I think it was about four or

five weeks. Now, If I'd already

owned those mining machines for two or three years prior to

that, and then had a three-week or five-week dip,

no problem, right? But because I was fairly new into the market,

then it had a five-week dip, I was like, damn, I'm missing out on some Bitcoin. It

just turned out that this is one of these things that was like a black swan event.

Unforeseen, you couldn't help it. Ultimately, the electrical fault

got fixed, but it was during a time when there was winter,

there was blizzards, and they couldn't get the equipment in

to fix the issue. And so that's what happened. But good to

know that the mining store, though, were right behind me the

whole time, filling me in on the details and keeping me up to date as

to what was happening. I can only imagine how many calls they were getting, but they handled

it really, really well. So that is one of the downsides of the thing

I think you have to think about. But as I said, I think it is a black swan event. And

since then, I've had no issues whatsoever. So it was after that, then

I then allocated, I guess, sorry, the lesson that I got from that though was,

I need to have more risk mitigation. So I

wanted to increase my Bitcoin exposure to Bitcoin mining,

but I wanted to mitigate the risk. I didn't want to have all my eggs into

one basket. So one of the things that you could also think about is as you

grow out your Bitcoin mining machine portfolio is

to then start Mitigating the risk by moving it to different warehouses.

So one of the things that the mining store offered was they said look We've got this mining

facility in Norway. And yes, we've had an issue there before but it was a black

swan event Everything's fine now, but let's now put five

other because I was ready to buy another five now. I'm like doubling down another

five of these Bitcoin mining machines over into Ethiopia.

And guess what? Turned out Ethiopia has even cheaper power than

Norway. So I was like, yeah, brilliant. Let's do that. So that's when I went ahead and

invested into another of these five Bitcoin mining machines. Now, the

thing that you might be thinking is, well, why don't I just have the Bitcoin mining machines in

Australia? And I just touched on it. It's because of the electricity cost.

The electricity cost in Australia is completely

prohibitive to basically do anything. That's why you've seen all these manufacturing plants

closed down in Australia. And they just

basically have to go overseas, because the government is completely reckless,

in my opinion, when it comes to controlling the energy

sector in Australia. They keep saying that renewable energy is

the cheapest form of energy, but yet everyone's packing up and leaving, right?

It's a joke. So we need to, and

if you're not if you're not okay with this, I'm completely against the

net zero policy, right? Now, throw all the dirt you want at

me, but I'm completely against it and I don't give a shit what you think. So that's

where we're currently up to in the Bitcoin mining saga.

Now, I just had Will from the mining store on an episode. And

you know what's so funny? Every time I talk to him, I

just think, damn, I need to get more mining

machines. Now, I'm just going to drop this in now, and I

know that It's not

that the ATO is going to be against you doing this, because

I'm not advocating to anything to do with trying

to get around paying taxes. But if you're someone that likes

the idea of perhaps staying a little bit private with

your financial transactions, Bitcoin mining

is for you. Now, don't let this leak

out, OK? But when you go and get Bitcoin mining machines,

and I didn't even think about this at first when I did it. You

don't have to provide any KYC. There's no ID

to go and buy computers, because that's all the Bitcoin mining machines are.

They're just computers. You don't go to Harvey Norman,

buy a computer, and then show ID. Same

thing with Bitcoin mining machines. It just turns out, though, that the

Bitcoin mining machines then dish out Bitcoin into

your own private wallet. So two things I'm going to leave

you with before we wrap up this episode is to, maybe a

few more than two things, but a few things as to why you should get into Bitcoin mining. One

is obviously no KYC, so no biometric scans or any of that crap.

The second thing is going to be, if you've got large sums of money, let's say

you've got an SMSF, right? You can actually buy Bitcoin mining machines within

your SMSF. And in doing so, when you're

trying to get funds from your bank into, let's say you were just

going to buy Bitcoin, like it is possible to do, don't get me wrong. If you come

onto my free online community, you'll find a whole list of

the banks that we recommend. And some of the strategies around

getting funds from your bank into a crypto

exchange like CoinStash, for example, one of the most trusted

crypto exchanges that I certainly recommend it. And what I use for my SMSF myself.

But I'm going to show you all the tips and tricks on how to get your money in. But let's just say you're

someone and you've got even hundreds of thousands of dollars, it's very difficult to

get that into an exchange. Now, one of the things that where you

will not get any blocks whatsoever is when you actually

buy Bitcoin mining machines. So the mining store,

for example, the guys that I use based out of Australia, they will just send you

an invoice for these mining machines. Right. And then you just pay it. So

there's not actually going to an exchange. Right. And then you have the Bitcoin that comes in

through completely sovereign, completely private into your own Wallet,

right? Absolutely incredible. So how much Bitcoin?

You're probably thinking, have I mined since I've been doing it? So keep

in mind, I started at three, I'm now at 10 machines, and

it's approximately 20,000 Australian dollars

in under, just under a year. Okay, so $20,000. Right

now, with the 10 machines, I'm producing about

$4,500 to $5,000 Australian dollars every single

month. So guys, that's the update on the Bitcoin mining. It's

really something that you should think about for all the reasons I just explained. And

I look forward to giving you some of my further insights into Bitcoin mining

as I find them. And obviously, keep stacking Bitcoin and

build your financial future into the future. All right, take care. Thanks

for tuning in to Crypto Collective. If you've enjoyed this episode, the

best way to show your support is to leave a five-star review on

Apple Podcast or Spotify and make sure to subscribe to

the YouTube channel so you don't miss an episode. You can also find more

of me at I'm Matthew Fraser on all